Tag Archives: Lubricant Additives Market Share

Lubricant Additives Market is Expected to Reach US$ 18.5 Billion by 2024

According to the latest report by IMARC Group, titled “Lubricant Additives Market: ****** Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the ****** lubricant additives market size reached US$ 15.4 Billion in 2018. Lubricant additives refer to organic or inorganic chemical compounds that are suspended or dissolved in engine oils and functional fluids to enhance their overall performance. They assist in improving the existing base oil properties with anti-foam and demulsifying agents and suppressing the undesirable properties with pour-point depressants. They are also used for imparting new properties to base oils with extreme pressure (EP) additives. Lubricant additives help in averting reaction with moisture present in the environment by creating a protective chemical barrier that safeguards the machinery from internal rust.

Lubricant Additives Market Product Overview, Share by Types and Region till 2023

14th May 2019 – ****** Lubricant Additives Market is anticipated to grow at a CAGR of 4.3% by 2023. One of the most important motivators for the international business is growing trade of automobile, mainly passenger cars having greater performance and extended service intermissions. With reference to the source of the applications, the statement concentrates on the position and viewpoint for foremost uses/end users. It takes into consideration the intake in terms of sales, market stake, and development percentage of Lubricant Additives for respective use, including Automobile (Passenger Cars & Heavy Duty Vehicles), Industrial (Industrial Engine Oil, Metalworking Fluids, General Industrial Oil).

Lubricant Additives Market to Reach US$ 18.5 Billion By 2024

The ****** lubricant additives market has witnessed a moderate growth over the past several years. Owing to increasing governmental interventions to achieve higher fuel economy along with the expanding automotive industry, the demand for lubricant additives is escalating across the globe.