Anti-Wear Lubricants are used to prevent metal to metal contact between parts of gears used in automotive industry and machineries. The growing factor is the increase in the demand for the automotive industry, the rise in the market for commercial and passenger vehicle will be beneficial for the anti-wear lubricants market. The limiting factors is the fluctuating crude oil price, which is the key ingredient for anti-wear agents, which in turn, affects the profitability and as the global warming is directly proportional to the number of vehicles in use, thus, this could hamper the growth of the lubricant anti-wear agent market.
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the lubricant anti-wear agent in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the lubricant anti-wear agent market.
Top Impacting Factors
The growing demand for high-passenger and commercial vehicles in the automotive industry is driving the lubricant anti-wear agents industry growth as well as the rising GDP in Asia-Pacific. The growing demand for renewable energy will also provide a vast area for expansion for the global anti-wear agents market. Brazil, Russia, India, China, South Africa (BRICS) account for over a fifth of the global economy and the population in these countries is rapidly growing thus, to cope with its government in these countries are highly focused on industrial development to provide jobs for the people, with the introduction of more industries the demand for global lubricant anti-wear agent market is set to rise.
Market trends
- Increasing demand for the automotive sector is a key driver of the market.
- The increasing sales of passenger cars and commercial vehicles drive the lubricating oil additives market in the automotive industry. Lubricant anti-wear agents are majorly used in engine oil, gear oil, transmission fluid, and hydraulic fluid to prevent adhesive wear and protect metal components. Thus, rising demand for motor vehicles is expected to lead to an increase in the demand for lubricants which is expected to increase the demand for lubricant anti-wear agents market.
- Lucrative market opportunities from BRIC countries have bolstered the market growth.
- BRICS countries (Brazil, Russia, India, China, and South Africa) together are expected to account for a large market for lubricant anti-wear agents during the forecast period. To meet the demands of the large population, governments in these countries are highly focused on industrial development. With the strengthening of financial infrastructure in these countries, foreign and domestic investments are expected to increase exponentially in the next five years. This is expected to boost all the associated sectors, thereby driving the growth of related industries such as lubricant anti-wear agents.
- Growing population and per capita income is also indirectly boosting the market growth.
- China, Japan, and India are the significant consumers of lubricant anti-wear agents in this region. Increasing GDP led by the rising industrial activities in the Asia Pacific region has increased the demand for lubricant anti-wear agents in this region. Furthermore, the growth of transportation, power generation, mining, and other sectors are responsible for the growth of the lubricant anti-wear agent market in the Asia Pacific.
Key Benefits of the Report
- This study presents the analytical depiction of the lubricant anti-wear agent industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the lubricant anti-wear agent market share.
- The current market is quantitatively analyzed to highlight lubricant anti-wear agent growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the lubricant anti-wear agent market.
- The report provides a detailed lubricant anti-wear agent analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Lubricant anti-wear agent Report
- Who are the leading market players active in the Lubricant anti-wear agent?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the lubricant anti-wear agent market?
- What future projections would help in taking further strategic steps?
- What is “Lubricant anti-wear agent “?
- What does " Lubricant anti-wear agent " allow organizations to achieve?
- Which technologies combine to make “Lubricant anti-wear agent “a critical organizational asset?
- What is " Lubricant anti-wear agent” Market prediction in the future?
- Who are the leading global players in the “Lubricant anti-wear agent” market?
- What are the current trends and predicted trends?
- What are the challenges faced in the " Lubricant anti-wear agent” Market?
- What are the key benefits of the “Lubricant anti-wear agent “Market report?
- What will be the anticipated growth rates for your own Lubricant anti-wear agent economy altogether and for every segment inside?
- What are the driving factors and opportunities in the market?
Key Market Segments
- By Type
- Zinc Dialkldithiophosphate (ZDDP)
- Phosphate
- Phosphonate
- Phosphide
- By Application
- Engine Oil
- Automotive Gear Oil
- Automotive Transmission Fluid
- Hydraulic oil
- Metalworking Fluid
- Grease
- Others
- By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Chevron Corp.
- Infineum International Limited, BASF SE
- BRB International BV
- Dorf Ketal
- Dover Chemical
- The Lubrizol Corporation
- Evonik Industries AG
- Croda Lubricants
- Wuxi South Petroleum Additive Co.
- DOG Chemie
- Eni SpA.
- Afton Chemical Corporation
Other Key Market Players
- Eni SpA.
- Evonik Industries AG