Global Lubricant Additives Market is expected to grow to USD 17.1 billion in 2022 growing at the CAGR of 3.2% since 2016 and is expected to continue till 2022. The market is expected to grow significantly over the forecasted period. Lubricant oil comprises of a base stock blended with various additives to enhance performance and maintain the same due to which lubricant additives is used majorly in automotive and various industries specifically heavy duty motor oil, passenger car motor oil , industrial engine oil and metal working fluids. Various functions of lubricant additives such as enhancement of performance and efficiency, reduction in wear and tear of materials and metals, lower toxicity along with low cost, change in legislative and environment regulations, technology development in marine and automotive industries are some of the drivers of this market.
Companies such as are BASF SE, Chemtura Corp., Chevron Oronite, Croda International, Evonik Industries have implemented acquisition and expansion of business strategies to increase their acrylic market’s presence geographically. Few global players have invested in R&D amenities to discover advanced and innovative folic products with higher efficacy rate and ease of use.
Request a Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2179
Major Key Players:
- BASF SE,
- Chemtura Corp.,
- Chevron Oronite,
- Croda International,
- Evonik Industries,
- Infineum International,
- Lubrizol Corp,
- Shamrock and Tianhe Chemicals,
- Afton Chemical Corporation
Browse Report Details @ https://www.marketresearchfuture.com/reports/lubricant-additives-market
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 140 numbers of pages of the project report“Global Lubricant Additives Market Research Report –Forecast to 2022”
Asia Pacific region is expected to maintain its dominance in the global lubricant additives owing to high demand for passenger cars in China, South East Asia along with robust lubricant aftermarket sale which is expected to drive the market in Asia Pacific. Various environmental regulations and modernization in technology are driving the market in Middle East and Africa. The market in Europe will have a sluggish growth owing to economic slowdown and utilization of high quality lubrications.
Global Lubricant Additives Marketis majorly segmented on the basis of by type and by Application. Based on type the market is segmented into surface protective additives, performance enhancing additives and lubricants protective additives. On the basis of application the market is classified into automotive and industrial. Automotive is future sub-segmented into heavy duty motor oil passenger, car motor oil and industrial is sub-segmented into industrial engine oil and metal working.
Browse Related Report:
Global Chemical Intermediate Market Information- by Type (Reagents, Solvents, Building Blocks, Protective Groups, and Others), Application (Pharmaceuticals, Automotive, Agriculture and Others), Form (Liquid, Solid and Gaseous), and Region – Forecast to 2022
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Akash Anand
Phone: +1 646 845 9312
Address:Magarpatta Road, Hadapsar, Pune – 411028 Maharashtra, India