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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Global LubricatingOil Additives Market By Functional Type [Anti Wear Agents, Detergents,Dispersants, Viscosity Index Improvers, Anti-Oxidants, Extreme PressureAdditives, Rust & Corrosion Inhibitors, Pour Point Depressants (PPD),Emulsifiers, Friction Modifiers, Oxidation Inhibitors, Other], Application(Industrial Oil, Metalworking Fluid, Process Oil, Engine Oil, Gear Oil,Hydraulics Fluid, Other), End-User (Industrial, Automotive), Geography (NorthAmerica, Europe, Asia-Pacific, South America, Middle East And Africa) –Industry Trends and Forecast to 2026
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.
GlobalLubricating oil additives market is projected to register a healthy CAGR of3.5% in the forecast period of 2019 to 2026.
GlobalLubricating oil additives market is segmented into three notable segments whichare functional type, application and end user.
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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 July 2018,The Chevron Tech Challenge was announced by Chevron Technology Ventures inorder 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.
Some of themajor players operating in this Lubricating Oil Additives market are TheLubrizol Corporation Company, Infineum International Limited, Afton Chemical,Chevron Corporation, 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: Global Lubricating 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.
On the basisof application, the Lubricating Oil Additives market is segmented intoindustrial oil, metalworking fluid, and process oil, engine oil, and gear oil,hydraulics fluid and other.
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In March2016, Infineum started of operations at its new lubricant additive productionand blending plant at Zhangjiagang, China. The plant is located at YangtzeRiver International Chemical Industrial Park and has a capacity to produce100,000 Tons of lubricant additives per year.
On the basisof end user, the GlobalLubricating Oil Additives Market is segmented into industrial andautomotive. Automotive is further segmented into heavy-duty vehicles, passengercar and other.
In July, GEPower’s announced the merger of GE’S oil with Baker Hughes, it is the onlycompany to bring together digital solutions across the entire spectrum of oiland gas development and industry-leading equipment
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Asia-PacificLubricating Oil Additives Market – Industry Trends and Forecast to 2026
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MiddleEast and Africa Lubricating Oil Additives Market – Industry Trends and Forecastto 2026
NorthAmerica Lubricating Oil Additives Market – Industry Trends and Forecast to 2026
GlobalLubricating Oil Market is Growing at a Significant Rate in the Forecast Period2019-2025
