The Global Lubricant Additives Market is expected to reach USD 18.9 billion by 2026 growing at a CAGR of 4.7% during the forecast period of 2019 to 2026.
This market report defines the market trends and forecast the upcoming opportunities and threats of the lubricant market in the next 8 years. Lubricant additives are chemical compound that control the friction and enhance the machines performance. Lubricant additives express chemical, physical and anti-friction property of different oils such as bio chemical, synthetic, mineral, and others. The producer of different lubricant can utilize inventory stoke and select different additives for each specific application. Its main application is in automotive and industrial sector. Lubricant additives have various function such as emulsification, anti-misting, inhibiting corrosion, boundary lubricity, extreme pressure (ep), and boosting reserve alkalinity.
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Major Key players profiled in this report are:
Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG, BASF SE, Infineum International Limited., The Lubrizol Corporation, Shamrock Shipping & Trading Ltd., LANXESS ., Tianhe chemicals, others
This market research report presents astute answers for the multifaceted business challenges and incites an easy basic leadership process. Such an incredible report has been set up by a group of energetic experts, talented analysts and experienced forecasters who work fastidiously for the equivalent. The exploration and studies related with contender examination keeps aggressive scene plainly into the concentration with which industry can pick or propel their own techniques to flourish in the market.
Major Market Drivers:
- Next big target is fuel economy
- High growth in developing nations
- Growth of automotive industry
- Lower cost of production
- Drive towards Alternative Fuels
- The global lubricant additives market is segmented based on function type, application, and geographical segments.
- Based on function type, the global lubricant additives market is segmented into dispersants, vii, detergents, antiwear, antioxidants, corrosion inhibitors, emulsifiers & others
- On the basis of application, the global lubricant additives is classified on automotive & industrial lubricants
- Based on geography, the global lubricant additives market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa.
The global lubricant additives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lubricant additives market for global, Europe, North America, Asia Pacific and South America.
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