Aggressive Electric Vehicle (EV) Sales Pose a Threat to Lubricant Industry in the Longer Term.

Electric Cars are the future of Automotive Industry. They do not require petroleum fuel and hence environment friendly as there is less gas emission or zero emission. That is why these are also termed as green vehicles sometimes. A consumer can choose from different types of electric vehicles such as hydrogen, Plug-In Hybrid Electric Vehicle (PHEV) and Hybrid Electric Vehicle (HEV). Hydrogen cars use hydrogen fuel cells which create electricity to drive the motor.

Plug-in hybrid cars combine an electric battery with gasoline engine; the cars can go up to 30 to 35 miles with the help of battery and then switches to internal combustion engine. On the other hand, the fully battery powered electric vehicle can go up to 100 miles with 8 hours of charging. Despite having huge popularity these vehicles have some drawbacks such as the charging time, battery weight & space, cost and others.

Electric vehicles do not have any internal combustion engine; their system is based on electric motor. There is nothing much to lubricate as there is no piston in the vehicle. This creates an uncertainty for the automotive lubricants industry and poses a question on the future of lubricants and additives manufacturers. Engine oil is the major lubricant used in gasoline and diesel engine vehicles for efficient functionality of the internal combustion engine. Electric vehicles do not require engine oil and this has created panic for big oil companies which manufacture engine oil and its additives. Currently Global Engine Oil Additives Market is valued at $9.9 Billion, which can be dropped down in future if the sales of electric vehicles continue to rise. According to European Automobile Manufacturers Association (ACEA), electrically chargeable vehicle share can reach up to 8% by 2025 in the global market. In U.S., the sales of electric vehicles growing at an annual growth rate of 36.2% with 501,369 numbers (including PHEVs and HEVs) of vehicle sold in 2013.

The only satisfaction to the lubricants manufacturers is that, it will take long time for this new age vehicle to capture significant share in the automotive industry. Also the electric vehicles require grease for its rotating devices, so the opportunity or competition will exist on other lubricants like grease. Many lubricant manufacturers are investing on research and development to bring changes in the lubrication technology which can lower the emission of hazardous gases in the environment. However, in the longer term, they have to discover other opportunities in the market to save their presence.

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Bottled Fuel Additives Market; Market to Reach $484.6 Million due to Demand from Automobile Industry.

According to IndustryARC, Bottled Fuel Additives Market is set to reach $484.6 Million by 2020, owing majorly to the looming demand from Automobile Industry.

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\Application Brief:

Bottled fuel additives are used in the aftermarket of lubricants industry. Some of the bottled fuel additives being used in this industry include detergents, cetane improvers, corrosion inhibitors, antioxidants, metal deactivators, demulsifiers, flow improvers, octane improvers, and others. Recently there is an increasing demand for environmentally friendly fuel additives for the industry to avoid increasing environmental concerns. Bottled fuel additives have found their way into various fuel applications such as diesel, gasoline, biofuels, industrial fuels, marine fuels, aviation fuels. The additives used for these purposes vary based on the requirements. Corrosion inhibitors, metal deactivators find their applications in almost all fuels, but the quantity depends on the requirements. For instance, cetane improvers are used fuels. The most often used additives in aviation fuels are antioxidants and cold flow improvers.

Market Driving Factors according to Segments:

In industrial sector, bottled fuel additives have become the additive of choice for the better functionality of industrially important machines and engines which include metal working and more. Hence, the increasing usage of non-ferrous metals and demand for metal working fluids and lubricants will further upsurge the bottled fuel additives market. For aviation sector, additives are used to enhance the efficiency and fuel thermal stability of jet fuels and aviation fuels. Therefore, bottled fuel additives will witness demand for high quality fuel in various applications including automotive, industrial, aviation, polymers and so on.

Regional Insight:

Europe is poised to be the largest market by 2020 followed by the North American region. It has a comparatively higher share in this market as it is the major consumer of biodiesel compared to any other region. According to European Chemical Industry Council, CEFIC, the oil price in Europe fell by 57% from its highest peak that is approximately $112 in June 2014 to $48 in January 2015. This fall in oil prices will increase its demand and that of the additives used to increase its efficiency. Asia-Pacific (APAC) has been a developing market for fuel additives in terms of revenue and production capacity. With the developing economies striving for economic progress, industrialization seems to be on a positive growth rate. This industrialization has led to the demand for increase in automotive, aviation and other industry applications.

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Market Segmentation:

The Bottled Fuel Additives Market is broadly divided into three types depending on various factors:

1.       By Type: Corrosion Inhibitors, Demulsifiers, Cetane Improvers, Detergents and Others.

2.       By Application: Diesel, Gasoline, Biofuel and Others.

3.       By Geography: Americas, Europe, APAC and RoW.

Market Key Players:

Some of the companies which hold a major share in the production of bottled fuel additives include BASF SE, Lubrizol, Baker Hughes, Clariant AG, and Innospec Inc., among others. Lubrizol held the maximum share accounting to 43.3% of the total bottled fuel additives market in 2014. BASF SE comes next with a market share of 20.7%. Though BASF is not a company exclusive to the additive manufacturing industry, its rapid growth in this field is remarkable. Afton chemicals, Innospec Inc. and Clariant AG have market shares of 18.9%, 9.5% and 4.6% respectively.

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About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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