Lubricant Additives Market - Industry Development
Scenario and Forecast to 2024
Lubricant Additives Market study is providing you with the up-to-date, actionable market information and projections
with the latest impact of the Covid 19 outbreak. It offers all the requisite data to support tactical business decisions and
come up with strategic growth plans. This study also proposes a comprehensive insight into the development policies
and plans in addition to manufacturing processes and cost structures.
The global Lubricant Additives Market was appreciated by US$ 14.35 billion in the year 2015. It is estimated to develop
at a substantial CAGR for the duration of the prediction. The business is categorized by growing usage of additive in basic
oil amalgamation for extended service life and presentation. These additives increase the viscidness of oil, act as
antioxidants and inhibitors for corrosion in internal combustion engines, and decrease decay of oil.
The lubricant additives market on the source of Type of Application could span Industrialized (Industrial Engine Oil,
Metalworking Fluids, General Industrial Oil), Automobile (Light Duty Vehicle [LDV], Heavy Duty Vehicle [HDV]). The
subdivision of Passenger car [LDV] motor oil was the leading sector. It was responsible for more than 30% stake of the
international capacity during the year 2014 and is projected to preserve its supremacy above the prediction period.
The EURO standards, regulating the sum of hydrocarbons, carbon monoxide, soot and nitrogen oxide, combined with
change in customer inclinations in the direction of usage of the operationally effective and small viscous fuel is
motivating the necessity for passenger car motor oil. Within the group of industrialized lubricants, general industrial oil
is responsible for a stake of more than 35% of the international capacity during the year 2014 and is estimated to be the
speedily increasing subdivision above the upcoming years.
The lubricant additives market on