Global Engine Oil Additives Market
Global Engine Oil Additives Market Report Description:
Global Engine Oil Additives market report gives comprehensive outlook on engine oil additives across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global engine oil additives market gives historical, current, and future market sizes (US$ Mn) on the basis of type, fuel type, end user and region. This report studies global engine oil additives market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global engine oil additives market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global engine oil additives market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global engine oil additives market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global engine oil additives products.
Global Engine Oil Additives Market:
The global engine oil additives market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Increase in demand for fuel efficient vehicles, implementation of stringent emission norms especially for vehicles, rise in demand for engine oil additives in automobile and machinery industries and high growth in emerging economies are some key factors influencing the market growth. However, factors such as rising demand for battery operated vehicles (BEVs) may restrict the market growth.
Increasing Demand for Engine Oil Additives from Automobile Industries are Fueling the Market Growth
Increasing production of automobiles and demand for the conventional and synthetic products are the key factors driving this industry. Over the past years, automotive vehicle sales have shown a constant rise as a result of growing population and consumer spending capacity. All moving parts in any industry require lubrication mainly used in small electric motor bearings hence lubricant additives used in engine oils is high in demand which will help in expanding the market size of engine oil additives market. Hence, increasing demand for engine oil additives from automobile industries are fueling the market growth
Asia Pacific Accounts for Larger Market Revenue Share in Global Engine Oil Additives Market
Asia Pacific accounted for larger revenue share in global engine oil additives market with considerable CAGR. The growth in this region is due to increasing population and rapid industrialization. Also, rising demand for several types of vehicles is high exclusively for passenger cars and heavy commercial vehicles in the region. In addition, North America held considerable market share during estimated period. U.S is the major contributor for the growth of the market in this region as it has high per capita vehicles in the world.
Key player’s profiles in the global engine oil additives market include:
- Afton Chemical
- BASF SE
- Croda International Plc.
- Lucas Oil ProductsInc.
- Chevron Corporation
- Evonik Industries
- Infineum International Limited.
- BRB International
Global engine oil additives market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in Jan 2019, BASF expanded its business by increasing production capacity of antioxidants for lubricants. The capacity expansions address growing demand for antioxidants from the increasing number of vehicles in Asia and the increasing global demand for long-life lubricant additives.
Key Findings of the Report:
- Global engine oil additives market expanding at significant CAGR over 2019 to 2025 owing to increase in demand for fuel efficient vehicles
- Based on type, anti-oxidants segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global engine oil additives market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Corrosion Inhibitors
- Friction Modifiers
- Antiwear Additives
- VI Improvers
By Fuel Type
By End User
- Passenger car
- Commercial vehicles
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA