Lubricating Additives market was $ 17.9 billion in 2017 and is estimated grow with CAGR of 3.09%
The Global Lubricating Additives market was $ 17.9 billion in 2017 and is estimated grow with CAGR of 3.09% till 2024 to reach 22 billion. Developing economies and rising industrialization are the major factors driving the lubricant additive market in regions such as APAC, which accounts for around 30% of the lubricant additive demand. Due to the price sensitivity the region has a high demand for reasonable quality lubricant additives.
The Global Lubricating Additives market was $ 17.9 billion in 2017 and is estimated grow with CAGR of 3.09% till 2024 to reach 22 billion. Developing economies and rising industrialization are the major factors driving the lubricant additive market in regions such as APAC, which accounts for around 30% of the lubricant additive demand. Due to the price sensitivity the region has a high demand for reasonable quality lubricant additives.
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The Global <strong>Lubricat<strong>in</strong>g</strong> <strong>Additives</strong> <strong>market</strong> <strong>was</strong> $ <strong>17.9</strong> <strong>billion</strong> <strong>in</strong> <strong>2017</strong><br />
<strong>and</strong> <strong>is</strong> <strong>estimated</strong> <strong>grow</strong> <strong>with</strong> <strong>CAGR</strong> <strong>of</strong> <strong>3.09%</strong> till 2024 to reach 22<br />
<strong>billion</strong>.
Asia Pacific will have the largest share <strong>in</strong> the Lubricant Adhesives Market dur<strong>in</strong>g the<br />
forecast period due to the development <strong>of</strong> efficiency norms along <strong>with</strong> <strong>in</strong>crease <strong>in</strong><br />
environmental concerns about carbon em<strong>is</strong>sion <strong>in</strong> countries such as Ch<strong>in</strong>a, India, <strong>and</strong><br />
Japan. The <strong>grow</strong>th <strong>of</strong> <strong>in</strong>dustrialization <strong>and</strong> automotive <strong>in</strong>dustry are other factors which<br />
drive the <strong>grow</strong>th <strong>of</strong> <strong>in</strong>dustrial lubricant oil <strong>in</strong> the region. Ch<strong>in</strong>a <strong>is</strong> the largest producer <strong>of</strong><br />
automobiles <strong>and</strong> the used car sales have witnessed a significant <strong>grow</strong>th. Ch<strong>in</strong>ese<br />
government <strong>is</strong> focus<strong>in</strong>g on recycl<strong>in</strong>g <strong>of</strong> <strong>was</strong>te lubricants, which <strong>is</strong> expected to have a<br />
significant <strong>grow</strong>th potential <strong>in</strong> the com<strong>in</strong>g years.<br />
Contact : sales@<strong>in</strong>dustryarc.com
Selected Regulatory Analys<strong>is</strong> Done <strong>in</strong> the Full<br />
Report:<br />
he passenger car motor oil will dom<strong>in</strong>ate the Lubricant <strong>Additives</strong> Market dur<strong>in</strong>g the forecast<br />
period. The EURO norms which regulate the amount <strong>of</strong> NO(Nitrogen Dioxide) <strong>and</strong><br />
CO(Carbon Monoxide) will drive the dem<strong>and</strong> for the passenger car motor oil.<br />
The <strong>in</strong>creas<strong>in</strong>g preferences <strong>of</strong> consumers towards the use <strong>of</strong> low v<strong>is</strong>cosity oil <strong>is</strong> also<br />
responsible for the <strong>grow</strong>th <strong>of</strong> th<strong>is</strong> segment. In general <strong>in</strong>dustrial oil will have the fastest<br />
<strong>grow</strong>th <strong>in</strong> the forecast period.<br />
Contact : sales@<strong>in</strong>dustryarc.com
Selected Driv<strong>in</strong>g Factors Mentioned <strong>in</strong> the Full Report:<br />
• The <strong>grow</strong>th <strong>of</strong> automotive sales, especially passenger cars <strong>with</strong> high performance<br />
will drive the dem<strong>and</strong> for motor oil additives <strong>in</strong> the com<strong>in</strong>g years.<br />
• Strict regulations <strong>with</strong> regard to the perm<strong>is</strong>sible amount <strong>of</strong> CO em<strong>is</strong>sion <strong>in</strong> the<br />
atmosphere elevates the <strong>grow</strong>th <strong>of</strong> lubricants <strong>and</strong> greases.<br />
• The usage <strong>of</strong> environmental friendly fuels will propel the <strong>grow</strong>th <strong>of</strong> lubricant<br />
additives <strong>market</strong> <strong>in</strong> the forecast period.<br />
• R<strong>is</strong><strong>in</strong>g <strong>in</strong>dustrialization provides many opportunities for the lubricant additives<br />
<strong>market</strong> <strong>in</strong> the com<strong>in</strong>g years.<br />
Contact : sales@<strong>in</strong>dustryarc.com
Key Players <strong>of</strong> the Augmented <strong>and</strong> Virtual Reality<br />
Content <strong>and</strong> Application Market<br />
• Lubrizol Corporation<br />
• Chevron Oronite Company LLC<br />
• Infenium<br />
• And more<br />
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