The global lubricantadditives market had weighed in at 4,093.45 kilo tons in 2013.
According to a market research report, it is expected to progress at
a CAGR of 2.66% between 2014 and 2020 and reach 4,934.61 kilo tons by
2020.
In terms of
products, the segments in the global lubricant additives market
include viscosity index improvers, dispersants, antioxidants,
detergents, and pour point depressants. Other minor additives in this
category include extreme pressure additives, metal deactivators,
anti-wear additives, and corrosion inhibitors.The global lubricant
additives market was dominated by dispersants in 2013, in terms of
volume. This segment accounted for over 20% of the market at the
time.
At the same time,
the report suggests that antioxidants will be the fastest-growing
product segment in the global lubricant additives market for the
given forecast period. This is attributed to the greater levels of
oxidation that are occurring in complex modern machinery due to the
lubricants applied.
The report also
states that viscosity index improvers are expected to generate a
higher share in the global lubricant additives market over the given
timeline owing to an increase in VI improvers in Asia Pacific.One of
the major promoters of the low viscosity lubricants is the
increasingly stringent regulatory pressure imposed on the global
lubricant additives market over harmful emissions. For instance, the
carbon dioxide emission levels in Europe are expected to reduce from
the current 130 grams per km, to 95 grams per km, by the end of 2021,
and the Europe lubricant additives market will play a crucial role in
supporting this.
At the same time,
the global lubricant additives market will also be restrained by the
lengthening of time between drain intervals. Improvements in the
chemicals used by the global lubricant additives market have allowed
consumers to increase the duration for which they stay in the vehicle
before being drained off and replaced.
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The top companies in
the global lubricant additives market are Tianhe Chemicals Group
Limited, The Lubrizol Corporation, Chevron Oronite Company LLC.,
Infineum International Limited, and NewMarket Corporation. The
competition between the key players of the market is high and each
player has adopted several research and development efforts in order
to achieve a greater market share. Due to this, it has become
difficult for a new entrant to prosper largely in the global
lubricant additives market, as there are few prospective investors in
new players for the production facilities as well as research and
development efforts. As such, most of the smaller players resort to
producing specific additives, while the top players are the only ones
left with the resources to maintain a diverse portfolio of products.
Key segments of
the Lubricant Additives Market
Lubricant
Additives Market: Product Segment Analysis
- VI Improvers
- PPD (Pour Point Depressants)
- Detergents
- Dispersants
- Antioxidants
- Other Additives (Corrosion Inhibitors, Metal Deactivators, Anti-wear Additives, etc.)
Lubricant
Additives Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East
- RoW (Rest of the world)
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