According to a new market report by Lucintel, the future of the lubricant additive market looks promising with opportunities in automotive lubricants, heavy duty motor oil (HDMO), passenger car motor oil (PCMO), industrial lubricant, metal working fluids, industrial engine oils, and general industrial oils industries. The global lubricant additive market is expected to grow with a CAGR of 3% from 2019 to 2024. The major growth drivers for this market are high growth in developing nations, industrialization, growth of the transportation industry, and lower cost of production.
In this market, viscosity index improvers, PPD, detergents, dispersants, antioxidants, and other additives are the major product types. Dispersants is the largest product type.
Within the lubricant additive market, automotive lubricants, heavy duty motor oil (HDMO), passenger car motor oil (PCMO), other automotive, industrial lubricant, metal working fluids, industrial engine oils, and general industrial oils are the major end use industries. Engine oil is the largest end use segment for the lubricant additive market.
APAC will remain the largest market over the forecast period due to high growth in developing nations, growth of the automotive Industry, and lower cost of production.
BASF, Afton Chemical, Lubrizol, Infineum International, and Tianhe Chemicals Group are among the major manufacturers of lubricant additives.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global lubricant additive market by product type, end use industry, sector, and region. Lucintel has prepared a comprehensive research report entitled "Global Lubricant Additive Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global lubricant additive market by product type, end use industry, sector, and region as follows:
By Product Type [$M shipment analysis for 2013 – 2024]:
Viscosity Index Improvers
PPD (Pour Point Depressants)
Detergents
Dispersants
Antioxidants
Other
By End Use Industry [$M shipment analysis for 2013 – 2024]:
Automotive Lubricants
Heavy Duty Motor Oil (HDMO)
Passenger Car Motor Oil (PCMO)
Other Automotive
Industrial Lubricant
Metal Working Fluids
Industrial Engine Oils
General Industrial Oils
Others
By Sector [$M shipment analysis for 2013 – 2024]:
By Region [$M shipment analysis for 2013 – 2024]:
Germany
Spain
France
United Kingdom
Russia
China
Japan
India
South Korea
Thailand
More than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.