Engine
oil additives are specialty chemicals used to enhance the performance of engine
oil as well as the durability of the engine. These additives when added to
engine oil while formulating it, improve its physical and chemical properties.
Global engine oil additives market is segmented based on different criteria
such as by type, by engine type, by end user and by geography.
To Get More Info on “Engine Oil Additives
Market”, Download Free Sample Brochure:
Different
types of additives include anti-oxidants, detergents, dispersants, anti-wear,
VI improvers, corrosion inhibitors, friction modifiers, pour point depressants
and others. Others include metal deactivators, emulsifiers and more. Gasoline
engine, diesel engine, natural gas engine and others are considered while
segmenting the market based on engine type. End users of the market are
passenger car, commercial vehicle, motorcycle and others; others include
application in marine engine oil.
More about Engine Oil Additives:
Global
engine oil market is estimated to grow at a CAGR of 3.2% from 2015 to 2020. Asia-Pacific
(APAC) is the largest and fastest growing market for engine oil additives both
in terms of volume and revenue, driven by the higher number of in use vehicles
in the region. America and Europe are in the second and third position in terms
of volume consumption and revenues of the market.
One
of the key factors hindering the growth of engine oil additives market is the
aggressive sales of electric vehicles especially in Europe and North America.
There is not much lubrication needed in electric vehicles as there is no
combustion engine involved in it. However, it will take long time for electric
vehicles to replace the fuel powered vehicles.
Increasing
motor vehicle production around the globe is one of the major drivers for
engine oil additives market. Every vehicle engine needs engine oil to work
smoothly, due to which consumption of engine oil is increasing steadily. Major
additive types, which are in high demand, are detergents, dispersants and VI
improvers. Government regulations regarding improvement of fuel economy and
reduction of emission from vehicles is another key factor contributing to the
growing importance of additives in engine oil.
The
International Energy Agency (IEA), United Nations Environment Programme (UNEP),
International Transport Forum of the OECD (ITF), International Council on Clean
Transportation (ICCT), Institute for Transportation Studies at UC Davis, and
the FIA Foundation has partnered together and started GFEI (Global Fuel Economy
Initiative) whose main objective is to assist government and transport
stakeholders to promote greater fuel economy.
Speak to Our Analyst @ http://industryarc.com/inquiry-before-buying.aspx?id=7509
For More Details Contact:
Sanjay Matthews
Sales Manager
Email: sales@industryarc.com
Phone: 1- 614-588-8538 (Ext-101)
No comments:
Post a Comment