DUBLIN, Oct. 19, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/gbpgnw/global_lubricant) has announced the addition of the "Global Lubricant Additives Market 2015-2019" report to their offering.
The global lubricant additives market to grow at a CAGR of 2.68% during 2014-2019.
The report, Global Lubricant Additives Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from various industry experts. The report includes a comprehensive discussion on the market, an extensive coverage of various types of products, end-user segments, and demand-supply dynamics in various geographies. The report provides comments on both the existing market landscape and its growth prospects over the forecast period. The report further includes a discussion of the key vendors operating in this market.
One major trend in this market is the shift from Monograde Oils to Multigrade Oils. There is a rapid shift in preference from monograde to multigrade oils across the world. The trend is predominant in North America and Europe. Multigrade oils are preferred in these regions on account of their better cold pumpability.
According to the report, one key driver of this market is the growing Awareness of Need for Energy Efficiency. Lubricant additives influence energy efficiency by reducing energy losses. The use of lubricant additives helps in reducing friction losses in hydrodynamic, elastohydrodynamic and boundary lubrication regimes. The loss of energy depends on the viscosity and chemical composition of the type of lubricant used.
Further, the report states that one of the major challenges is the increased Adoption of Hybrid Electrical Vehicles. With increasing environmental regulations and pollution control measures, there is an increasing prominence of HEVs that are powered by a combination of electric motor and IC engines.
The report presents data on the following segments of the market:
Other Prominent Vendors
For more information visit http://www.researchandmarkets.com/research/gbpgnw/global_lubricant
Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets
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