DUBLIN, October 3, 2017 /PRNewswire/ --
The "Global Lubricant Viscosity Grade Improvers Market 2017-2021" report has been added to Research and Markets' offering.
The global lubricant viscosity grade improvers market to grow at a CAGR of 2.58% during the period 2017-2021.
Global Lubricant Viscosity Grade Improvers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Growth in industrial gear oil market. Industrial gear oils are a segment of the industrial lubricant market where viscosity grade improvers are used. Although industrial gear oil market is niche, it is an attractive segment for investors. The demand for industrial gear oil is expected to grow at a CAGR of 2.05% during the forecast period. This growth is expected due to the remarkable expansion of the manufacturing and construction sectors, especially in APAC and Europe.
According to the report, one of the major drivers for this market is Demand for lubricants with enhanced fuel economy. With every level of technology upgrade in this market, the demand for new lubricant with enhanced fuel economy also increases. Even the consumers who are planning to own a car in the near future or are currently owning a car, are demanding cars that are highly fuel efficient and cost effective. The reason behind the increase in life span of cars from eight years in 1995 to around 12 years in 2016 is their strong engine performance. The engine performance is heavily dependent on the type of lubricant used and its viscosity.
Further, the report states that one of the major factors hindering the growth of this market is Changes in oil prices. Crude oil prices are fluctuating from past many years and is expected to face similar ups and downs during the forecast period. The prices of crude oil depend on currency fluctuations. The price of crude oil is measured in US dollars. So, with every rise or fall in the price of crude oil, changes in various currencies against the US dollar are also measured, and the final cumulative price is calculated.
- Chevron Oronite
Other prominent vendors
- Croda International
- JINZHOU KANGTAI LUBRICANT ADDITIVES
- MidContinental Chemical
- Nanjing Runyou Chemical Industry Additive
- Sanyo Chemical Industries
- Shenyang Great Wall Lubricating Oil Manufacturing
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Chemical Class
Part 07: Market Segmentation By Viscosity Grade
Part 08: Market Segmentation By End-User
Part 09: Geographical Segmentation
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Key Vendor Analysis
Part 15: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/hr6pxb/global_lubricant
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SOURCE Research and Markets