Lubricant Additives Market Expected to Reach 4,934.61 Kilo Tons by 2020 : Transparency Market Research
Lubricants are indispensable for the proper functioning of machinery. Lubricants are typically used to reduce friction and wear & tear between different moving parts of machines. Lubricants aid in reducing the downtime of operating machines and thereby raise the overall productivity. Lubricants provide protection against residual deposition over mechanical parts which aids in increasing the operating lifespan of mechanical parts. They are typically manufactured from base oils, while few additives are also used along with the base oils to give lubricants the desired properties. Lubricant additives are imperative for the proper functioning of lubricants and for increasing their life span. There are different kinds of additives, which are blended with the base oils to produce finished lubricants. The percentage of lubricant additives in the finished lubricants varies depending upon the end-use application. For example, the percentage of additives for steam turbines or compressors varies between 0.5% and 5%, whereas for hydraulic systems the percentage of additives is between 2% and 10%. Types of additives added to the finished lubricants are specific for specific applications. For example, extreme pressure additives are not used in steam turbine oils or compressor oils.
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Consumption of lubricant additives is increasing significantly due to frequent amendments in emission norms. The automotive industry is expected to be the major consumer of lubricant additives. Environmental regulations have limited the permissible amount of carbon dioxide emitted per kilometer. Europe has the most stringent norms followed by North America. Passenger vehicle OEMs have to adhere to the emission limits of 130 grams of carbon dioxide per kilometer by 2015. The permissible limit in Europe would be reduced to 95 grams of carbon dioxide per kilometer by 2021. Projected permissible limit for the U.S. is slightly higher for 2021. In Asia Pacific, Japan and South Korea have introduced stringent emission norms that aid in curbing carbon footprints. Emerging economies such as China and India are also improving their emission standards. Revising emission standards for the automotive industry is one of the key steps taken by the Government of China to reduce emission levels in the country. OEMs are also contributing in reducing the emission levels by improving engine technology. Europe and North America use better technology engines and advanced quality finished lubricant oils. The same trend is being followed in some countries of Asia Pacific and the Middle East.
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The research study analyzes the global demand for lubricant additives and provides estimates and forecasts for the market from the consumption point of view. The market for lubricant additives has been segmented based on product in order to provide a holistic view of the market. Market data for products has been provided on a regional level for the 2013−2020 period. A comprehensive competitive landscape, which includes company market share analysis, has also been provided in the study. Key product segments analyzed in the report include viscosity index (VI) improvers, pour point depressants (PPD), detergents, dispersants, antioxidants, and others. Market data has been provided for Europe, Asia Pacific, North America, the Middle East, and Rest of the World (RoW). The regions included in RoW are Africa and Latin America.
The report also includes Porter’s Five Forces model along with the value chain analysis of the market. The report analyzes market attractiveness by product type. Key players in the market for lubricant additives include BASF SE, Chevron Oronite Company, LLC., Chemtura Corporation, Evonik Industries AG, Infineum International Limited, The Lubrizol Corporation, and Tianhe Chemicals Group Limited. The report provides an overview of these companies along with their financial details, business strategies, and recent developments.
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Lubricant Additives Market: Product Segment Analysis
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