Asia-Pacific will dominate the Lubricant Adhesives Market
Asia Pacific will have the largest share in the Lubricant Adhesives Market during the forecast period due to the development of efficiency norms along with increase in environmental concerns about carbon emission in countries such as China, India, and Japan. The growth of industrialization and automotive industry are other factors which drive the growth of industrial lubricant oil in the region. China is the largest producer of automobiles and the used car sales have witnessed a significant growth. Chinese government is focusing on recycling of waste lubricants, which is expected to have a significant growth potential in the coming years.
Selected Regulatory Analysis Done in the Full Report:
The passenger car motor oil will dominate the Lubricant Additives Market during the forecast period. The EURO norms which regulate the amount of NO (Nitrogen Dioxide) and CO (Carbon Monoxide) will drive the demand for the passenger car motor oil. The increasing preferences of consumers towards the use of low viscosity oil is also responsible for the growth of this segment. In general industrial oil will have the fastest growth in the forecast period.
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Selected Driving Factors Mentioned in the Full Report:
The growth of automotive sales, especially passenger cars with high performance will drive the demand for motor oil additives in the coming years.
Strict regulations with regard to the permissible amount of CO emission in the atmosphere elevates the growth of lubricants and greases.
The usage of environmental friendly fuels will propel the growth of lubricant additives market in the forecast period.
Rising industrialization provides many opportunities for the lubricant additives market in the coming years.
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Key Players of the Lubricant Additives Market:
The key players of the lubricant additives market include Lubrizol Corporation, Chevron Oronite Company, and Infenium. Lubrizol Corporation provides engine oil additives which can protect all types of engines in different operating environments. They include heavy duty diesel, marine diesel, motor cycle, passenger car, etc. Chevron Oronite provides fuel and lubricant additives for improving the performance of different transportation and industrial equipment. Infenium provides engine oil additives which are used in heavy duty diesel, marine engines, and automotives. It even provides additives for fuels and refineries.
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