The global Lubricative Oil Adhesive market was valued at USD 15.42 Billion in 2018 and is expected to reach USD 19.24 Billion by the year 2026, at a CAGR of 3.3%. Lubricating oil additives are chemical compounds that enhance the performance of functional oils and lubricants.
Lubricating Oil Additives Market Size – USD 15.42 Billion in 2018, Market Growth – CAGR of 2.8%, Market trends – industrialization, and growth in the automotive industry
The lubricating oil additives enhance the performance of the lubricants and fluids thus are responsible for providing an efficient and economical performance of machines and appliances. Furthermore, these additives help in preventing corrosion, reducing friction, and extending the durability of the hardware. Moreover, lubricating oil additives are also used as detergents in oil formulations to stabilize dirt. The various functions of these additives are likely to support the market growth during the forecast years. Rapidly increasing transportation, rising demand for engine oil from passenger cars and commercial vehicles, growing automotive and industrial industry, improved regulations regarding fuel emissions and the advantages of additives to reduce emission and increase the efficiency of automobiles and lubricants are the factors driving the growth of lubricant oil additives market. Lubricant performance is enhanced through additive, which is substance synthesized for anti-friction properties and improve the chemical and physical properties of base oils, also increasing the equipment life.
Request A Free Sample Of This Report : https://www.reportsanddata.com/sample-enquiry-form/1867
Further key findings from the report suggest
- Lubricating Oil additives market is anticipated to grow at a CAGR of 3% in the Asia-Pacific followed by North America and Europe, with 2.2% and 2.6% CAGR, respectively. Rapid urbanization and increasing industrialization are the key factors to accelerate market growth during the forecast period across all regions
- As of 2018, Dispersants were valued at USD 5.47 Billion and are expected to dominate the market during the forecast period.
- Manufacturers are focusing on various research & development activities to formulate efficient additive packages as specified by OEMs.
- The growing trend towards lightweight vehicles would be causative of an increase in the market demand during the forecast years.
- Engine oil lubricants occupy more than 50% lubricant oil additives market owing to their increased demand.
- The Middle East and the Africa region are expected to witness lucrative growth as market players prefer these regions due to the increasing industrialization as well as the presence of high-grade lubricants.
- Fluctuations in prices of raw material additives and the increasing demand for electric vehicles is likely to restrict the market growth during the forecast period
- Key participants include Afton Chemical, Chevron Oronite, BASF, Evonik Industries, Croda International
Get This Report At Discounted Price , Click Here , https://www.reportsanddata.com/discount-enquiry-form/1867
For this report, Reports and Data have segmented the Lubricating Oil Additives market based on functional type, application, sector, end-use, and region:
Functional Type (Revenue in USD Million; Volume in Tons, 2016-2026)
- Dispersants
- Detergents
- Anti-oxidants
- Anti-wear agents
- Extreme Pressure additives
- Viscosity Index Improvers
Application Type (Revenue in USD Million; Volume in Tons, 2016-2026)
- Engine Oil
- Gear Oil
- Process Oil
- Industrial Oil
- Hydraulics Fluid
- Metal Working Fluid
Sector Type (Revenue in USD Million; Volume in Tons, 2016-2026)
- Automotive
- Industrial
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/lubricating-oil-additives-market
Regional Outlook (Revenue in USD Million; Volume in Tons, 2016-2026)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
Thank you for reading our report. For further query on the report and customization, please connect with us. Our team will ensure you get the report best suited for your needs.
Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:
Direct Methanol Fuel Cell (DMFC) Market Size, Opportunities, Trends, Growth Factors, Revenue Analysis, For 2020-2026
High-Temperature Electrical Insulating Film Market Size, Regional Trends and Opportunities, Revenue Analysis, For 2020-2026
Electronic Grade Phosphoric Acid Market Revenue, Product Launches, Regional Share Analysis & Forecast Till 2026
Fischer Tropsch Wax Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2026
Activated Alumina Spheres Market Size, Opportunities, Key Growth Factors, Revenue Analysis, For 2020-2026
Desalination Pumps Market Revenue Size, Trends and Factors, Regional Share Analysis & Forecast Till 2026
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Read Full Press Release: https://www.reportsanddata.com/press-release/global-lubricating-oil-additives-market
Note: The Heraldkeepers News Department was not involved in the creation of this content.
If you have any problem with this press release? Contact the source provider Heraldkeepers.com, you can contact them here.
COMTEX_390162620/2758/2021-07-21T02:12:56