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Lubricating oil additives (LOAs) are utilised to maximize the execution of lubricants and utilitarian liquids. Every added substance have their own ability to perform and in fusion with one or more additive. These materials are formulated for improvement of the anti–friction, chemical, and physical properties of the base oil, this helps in enhancing the performance of the lubricant and extent the equipment life. The key players operating in the global lubricating oil additives market are:-
· BASF SE
· Merck KGaA
· Celanese Corporation
· SE Eastman Chemical Company
· Shamrock Shipping & Trading Limited
The other players in the market are Tianhe Chemicals Group, Croda International Plc, afton chemical, Celanese Corporation, Evonik Industries Ag, and More
· Demand from the automotive industry is increasing.
· Industrial growth in Asia-Pacific and Africa is high.
· Demand for an electric vehicle is increasing which may affect the lubricants.
· Raw material prices fluctuation.
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Market Segmentation: Global Lubricating Oil Additives
By Functional type
· Viscosity Index Improvers
· Anti-Wear Agents
· Rust & Corrosion Inhibitors
· Friction Modifiers
· Extreme Pressure Additives
· Pour Point Depressants (Ppd)
· Engine Oil
· Gear Oil
· Automatic Transmission Fluids
· Hydraulic Fluids
· Water-Mixed Fluids
· Additive Content Of Lubricants
· Metalworking Fluids
By End User
· Automotive Sector
· Industrial Sector
· North America
· South America
· Middle East & Africa
Competitive Landscape: Global Lubricating Oil Additives Market
The global lubricating oil additives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lubricating oil additives market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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