Global Lubricity Improvers Market By Product (Acidic Lubricity Improver, Non-Acidic Lubricity Improver), Ingredient (Xylene, Methanol, Ethanol, Acetone, Others), Application (Gasoline Fuel, Diesel Fuel, Aviation Fuel, Others), End-Use Industry (Automotive, Agriculture, Manufacturing), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) – Industry Trends and Forecast to 2026
Global Lubricity Improvers Market is expected to register a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the advancements of components equipped in vehicles requiring better protection against sludge formation.
Few of the major competitors currently working in the global lubricity improvers market are Afton Chemical, Dow, Total, BASF SE, The Lubrizol Corporation, Innospec, Chevron Corporation, Infineum International Limited, Abhitech Energycon Ltd, Acpaegypt Inc., Huntsman International LLC, Fuel Additive Science Technologies Limited, Baker Hughes, a GE company LLC, Ecolab, Dorfketal Chemicals (I) Pvt. Ltd. and SI Group, Inc., others.
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Lubricity improvers are a category of fuel additives that are incorporated with various fuel types to improve the lubricity of the said product. The modifications in diesel fuels that have been a result of reduced levels of sulfur content in them after a number of governments regulated the content of sulfur in fuels. Reduced sulfur quantity results in lower lubricity requiring usage of additives helping complement the ULSD (Ultra-Low Sulfur Diesel).
- Availability of stringent forms of regulations regarding the emissions and VOC, this factor is expected to drive the growth of the market
- Increased usage of these products so that the maintenance costs of various equipment can be reduced, this factor is expected to drive the growth of the market
- Complications in the production process of these products requiring extra care and precautionary measures, this factor is expected to restrain the growth of the market
- Growing adoption of biofuels, is also expected to restrain the growth of the market
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Segmentation: Global Lubricity Improvers Market
- Acidic Lubricity Improver
- Basic/Non-Acidic Lubricity Improver
- Gasoline Fuel
- Diesel Fuel
- Aviation Fuel
By End-Use Industry
- Passenger Vehicles
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In June 2018, Dorfketal Chemicals (I) Pvt. Ltd. announced that they had introduced a new product series of fuel performance additives. The product lines launched under the newly formulated brands such as “mph” and “milEx”. Both of the product lines developed with the company’s proprietary manufacturing methods. This launch ensures that the company is established in providing unique complementary solutions from one unified provider.
- In January 2018, Millers Oils Ltd announced that they had acquired Fuel Additive Science Technologies Limited. This acquisition also includes the operations and products of the “Exocet” brand. This acquisition will also expand the geographical presence of the company in providing fuel additives and associated production technology which will help in further innovations and advancements in product offerings.
Global lubricity improvers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lubricity improvers market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved