According to the current analysis of Reports and Data, the global Lubricative Oil Adhesive market was valued at USD 16.38 Billion in 2020 and is expected to reach USD 20.19 Billion by the year 2028, at a CAGR of 2.6%. Lubricating oil additives are chemical compounds that enhance the performance of functional oils and lubricants.
The lubricating oil additives enhance the performance of the lubricants and fluids thus are responsible for providing an efficient and economical performance of machines and appliances. Furthermore, these additives help in preventing corrosion, reducing friction, and extending the durability of the hardware. Moreover, lubricating oil additives are also used as detergents in oil formulations to stabilize dirt. The various functions of these additives are likely to support the market growth during the forecast years.
Leading Players– Afton Chemical, Chevron Oronite, BASF, Evonik Industries, Croda International
Click the link to get a Sample Copy of the Report:@ https://www.reportsanddata.com/sample-enquiry-form/1867
Further key findings from the report suggest
- Lubricating Oil additives market is anticipated to grow at a CAGR of 3% in the Asia-Pacific followed by North America and Europe, with 2.2% and 2.6% CAGR, respectively. Rapid urbanization and increasing industrialization are the key factors to accelerate market growth during the forecast period across all regions
- As of 2020, Dispersants were valued at USD 5.47 Billion and are expected to dominate the market during the forecast period.
- Manufacturers are focusing on various research & development activities to formulate efficient additive packages as specified by OEMs.
- The growing trend towards lightweight vehicles would be causative of an increase in the market demand during the forecast years.
- Engine oil lubricants occupy more than 50% lubricant oil additives market owing to their increased demand.
- The Middle East and the Africa region are expected to witness lucrative growth as market players prefer these regions due to the increasing industrialization as well as the presence of high-grade lubricants.
- Fluctuations in prices of raw material additives and the increasing demand for electric vehicles is likely to restrict the market growth during the forecast period
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
To Enquire Before Buying report @ https://www.reportsanddata.com/inquiry-before-buying/1867
Functional Type (Revenue in USD Million; Volume in Tons, 2020–2028)
- Dispersants
- Detergents
- Anti-oxidants
- Anti-wear agents
- Extreme Pressure additives
- Viscosity Index Improvers
Application Type (Revenue in USD Million; Volume in Tons, 2020–2028)
- Engine Oil
- Gear Oil
- Process Oil
- Industrial Oil
- Hydraulics Fluid
- Metal Working Fluid
Sector Type (Revenue in USD Million; Volume in Tons, 2020–2028)
- Automotive
- Industrial
Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Lubricating Oil Additives market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Lubricating Oil Additives market over the forecast years?
- Which are the leading players in the global Lubricating Oil Additives market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1867
Thank you for reading the report. Kindly contact us to know more about the customization plan that we offer as per client requirement. Our team will ensure that the report is well suited as per your requirement.
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com