Global Lubricant Anti-wear Agents Market (2020 to 2025) - Increasing Demand for Renewable Energy Presents Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 6, 2021--
The “Global Lubricant Anti-wear Agents Market by Type (ZDDP, Phosphate, Phosphite, Phosphonate), Application (Engine Oil, Automotive Gear Oil, Automotive Transmission Fluid, Hydraulic Oil, Metalworking Fluid, Grease) and Region - Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global lubricant anti-wear agents market size is projected to grow from USD 698 million in 2020 to USD 784 million by 2025, at a CAGR of 2.4% from 2020 to 2025.
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 the Asia-Pacific. The increasing inclination toward electric vehicles and environmental concerns is restraining the growth of the market.
The zinc dialkldithiophosphate (ZDDP) lubricant anti-wear agents segment, by type, is projected to have the largest market share
Zinc dialkldithiophosphate (ZDDP) is a family of uncharged compounds composed of phosphorus, zinc, and sulfur traces, primarily used as anti-wear additives in lubricants such as gear oil, grease, and motor oil. Zinc dialkldithiophosphate has high thermal and hydrolytic stability and forms protective chemical films on metal surfaces which prevents corrosive damage to valve train and bearings.
ZDDPs are multifunctional because they provide wear, oxidation, and corrosion protection. Their antioxidant properties prevent soot deposits and formation of sludge on engine components. This additive provides oxidation, copper-lead bearing corrosion, and wear control majorly in diesel and gasoline engines. It is particularly effective under severe temperature and load. Thus, zinc dialkldithiophosphate enhances the properties of lubricants and is used in various applications such as engine oil, hydraulic oil, and compressor oil.
The engine oil application segment is projected to lead the global lubricant anti-wear agents market during the forecast period
Based on the application, the engine oil application segment led the lubricant anti-wear agents market in 2019. The growth of this segment can be attributed to the growth of the automotive sector mainly related to passenger cars and commercial vehicles in the developing regions of the world, and the increasing population in APAC is driving the growth of the automotive oil application segment.
Asia-Pacific is projected to lead the global lubricant anti-wear agents market during the forecast period
The Asia-Pacific is expected to lead the lubricant anti-wear agents industry from 2020 to 2025 in terms of both value and volume. The demand for lubricant anti-wear agents is increasing in Asia-Pacific owing to the growing automotive industry in the region. Also, the increasing GDP in the area is expected to fuel the demand for automobiles; thus, driving the lubricant anti-wear agents market growth. The market in this region is also projected to continue its market dominance in terms of both value and volume, from 2020 to 2025, owing to the and rising industrial activities in the developing countries of the Asia-Pacific region.
- Increasing Demand from the Automotive Sector
- High Economic Growth in the Asia-Pacific Led by Increasing Industrial Activity
- Drive Towards Alternative Fuels
- Rising Competition from Unorganized and Fragmented Market
- Increasing Demand for Renewable Energy
- Increasing Market Opportunities from BRICS Countries
- Fluctuations in Prices of Crude Oil
- Rising Demand for Hybrid and Electric Vehicles
- Impact of COVID-19
- Afton Chemical Corporation
- BASF SE
- Chevron Oronite
- Dorf Ketal Chemicals
- ExxonMobil Corporation
- Israel Chemicals (ICL)
- Italmatch Chemicals S.p.A.
- Jinzhou Kangtai Lubricant Additives
- King Industries
- Lubrizol Corporation
- Prasol Chemicals
- Transasia Petrochem
- Wuxi South Petroleum Additives
- Xinxiang Richful Lube Additive
- ZPlus, LLC
For more information about this report visit https://www.researchandmarkets.com/r/vzm1c5
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
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PUB: 01/06/2021 12:34 PM/DISC: 01/06/2021 12:34 PM