Lubricatingoil additives are the substances that are mainly used to enhance functionalfluids and lubricants performance. Each of the additives is added to improvethe functioning of one or more additives combined together. Largest use of suchlubricating additives is in automotive engine which includes other applicationssuch as hydraulic fluids and gear oils. Some of the major functional additivesare detergents, oxidation inhibitors, anti-wear agents, viscosity indeximprovers and extreme pressure additives etc.
Thelubricative oil additives are mainly used in automotive and other industrialapplications with customer satisfaction, technical support and flexibility.These additives impart new properties that influence the base oil performance.The best market growth of this market will be most probably in Asia Pacificmarket in coming future. They are also consumed in auto vehicle industry withmandatory regulations and emission control.
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The demandfor oil additives in various industrial sectors have been increasing but theone sector that is focused the most is automotive one.
Engine oillubricants are the one that make almost one half of the lubricant market andtherefore have much more demand. They mainly extend the life of automobilesunder many conditions such as pressure, temperature and speed. The main wok oflubricants is to reduce friction and heat from the moving parts of vehicles andalso prevents various contaminants from doing any damage.
Lubricatingoil additives were firstly used in 1920s resulting in increased usage. Alltypes of lubricating oil contain at least one additive.
Asia-Pacificlubricatingoil additives market is growing at a CAGR of 4.4% in the forecast period 2019to 2026.
Asia-PacificLubricating Oil Additives Market By Functional Type [Anti Wear Agents,Detergents, Dispersants, Viscosity Index Improvers, Anti-Oxidants, ExtremePressure Additives, Rust & Corrosion Inhibitors, Pour Point Depressants(PPD), Emulsifiers, Friction Modifiers, Oxidation Inhibitors, Other],Application (Industrial Oil, Metalworking Fluid, Process Oil, Engine Oil, GearOil, Hydraulics Fluid, Other), End-User (Industrial, Automotive), Country(Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia,Indonesia, Philippines, Rest of Asia-Pacific) – Industry Trends & Forecastto 2026
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Asia Pacificlubricating oil additives market is segmented into three notable segments whichare functional type, application and end user.
On the basisof functional type, the market is segmented into anti-wear agents, detergents,dispersants, viscosity index improvers, anti-oxidants, extreme pressureadditives, rust and corrosion inhibitors, pour point depressants (PPD),emulsifiers, friction modifiers, oxidation inhibitors and others.
In October,Clariant upgraded its facility in Midland to strengthen R&D capabilitiesand expanded its oil business in Texas. This helped the company to develop keyinfrastructure elements of its operation centre.
On the basisof application, the market is segmented into industrial oil, metalworkingfluid, and process oil, engine oil, and gear oil, hydraulics fluid and other.
In July2018, The Chevron Tech Challenge was announced by Chevron Technology Venturesin order to develop latest technology solutions to add value to Chevronoperations. This will help to advance technologies that can address businessrequirement and further commitment to provide safe, reasonable, reliable andcleaner energy.
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On the basisof end user, the market is segmented into industrial and automotive. Automotiveis further segmented into heavy-duty vehicles, passenger car and other.
In December,2018 BASF invested in a new production facility for mobile emissions catalystsat Pudong Shanghai, China. The 30,000 meter square facility will be used formultiple manufacturing lines
CompetitiveAnalysis: Asia-Pacific Lubricating Oil Additives Market
Some of themajor players operating in this market are Infenium, Lubrizol, Afton, ChevronCorporation, Evonik and others.
BusinessExpansion:
In November2018, GE Power’s announced the opening the opening of their Biotechnologymanufacturing centre in Stevenage Bioscience Catalyst. It is planned that inthe first half of 2019 this unit will start producing fibre-based purificationplatform.
ResearchMethodology: Asia-PacificLubricating Oil Additives Market
PrimaryRespondents: Key industry participants, subject-matter experts (SMEs), C-levelexecutives of key market players, Market Intelligence Managers, National SalesManagers and industry consultants.
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GlobalLubricating Oil Market is Growing at a Significant Rate in the Forecast Period2019-2025
