Analysis of Global Automotive Lubricants and Additives Market, Forecast to 2024
LONDON, March 29, 2018 /PRNewswire/ -- High Growth of Vehicle Sales in Asia-Pacific and Latin America Drives Demand
The automotive lubricants industry is one of the key industries of leading economies that supply to customer segments such as automotive original equipment manufacturers (OEMs), repair shops, distributors, commercial fleet owners, and individual vehicle owners. The key end-user segments covered in this study are passenger car motor oils (PCMO) and heavy duty diesel oils (HDDO).
Download the full report: https://www.reportbuyer.com/product/5363005
The study is analyzed in terms of the two major vertical markets: lubricant additives and base oils.The major additive types used in these products are detergents, dispersants, antioxidants, viscosity index improvers (VIIs), and pour-point depressants (PPDs).
The trend in use of various base-oil groups from Group I to Group V is analyzed.Lubricants are selected for a vehicle based on a variety of requirements such as durability, emission levels, length of drain intervals, and ability to improve fuel efficiency.
The requirements vary depending on the customer preferences, global and regional regulatory landscape, and the brand and model of the car.
North America and Europe are matured markets for automotive lubricants and additives with plateaued growth.However, all major additive and lubricant suppliers such as the Lubrizol Corporation, Chevron Oronite, Infineum International, Royal Dutch Shell, and BP have huge manufacturing facilities and strong customer partnerships established in these regions.
Asia-Pacific is the largest and the fastest growing market because of the growing urban population in the developing countries with increasing disposable incomes contributing to the high growth in sales of passenger cars and heavy duty diesel vehicles.
The market for automotive lubricants and additives is greatly impacted by Mega Trends such as economic recovery of Latin American and African countries, high growth in car sales of larger Asia-Pacific economies such as China and India, and increasing miles driven due to reduced fuel prices.The competitive environment in the lubricant additives market is highly skewed towards the larger market participants because of the high entry barrier for new entrants due to the significant amount of capital expenditure required.
On the other hand, the lubricants market is highly fragmented among the smaller participants, while the major share of the market is held by a few global companies.
The automotive lubricants and additives face regulatory pressure from organizations such as US Environmental Protection Agency (US EPA) and REACH that mandate the use of products with reduced emissions.They are also mandated to adhere to the specifications put forth by organizations such as American Petroleum Institute (API), International Lubricants Standardization and Approval Committee (ILSAC), Japan Automobile Manufacturers Association (JAMA), and the European Automobile Manufacturers Association (ACEA).
There is an increasing trend of customers demanding lower viscosity oils that also provide for higher drain intervals between oil changes. Manufacturers are increasingly investing in product development to enhance environmental sustainability and product efficiency.
The research analyzes the global automotive lubricants and additives market.Unit shipment and revenue forecasts have been provided for each segment from 2014 to 2024.
At the sub-segment level, the analysis focuses on the major technologies, additive types, and base-oil groups used in these products.Competitive structure and market share data have been provided at the top level.
The base year is 2017 and the forecast period ends at 2024.
Key Issues Addressed
• What are the trends in major product types and end-use sectors in the automotive lubricants and additives market?
• What are the major regulatory trends in the automotive lubricants and additives market?
• What are the key factors driving and restricting growth in this market?
• What are the trends in technology development?
• Who are the key market participants in the automotive lubricants and additives market?
• What are the regional trends in the market?
Download the full report: https://www.reportbuyer.com/product/5363005
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article