Americas Lubricant Additives Market
No. of Pages: 132 | Report Code: TIPRE00028841 | Category: Chemicals and Materials
No. of Pages: 132 | Report Code: TIPRE00028841 | Category: Chemicals and Materials
Synthetic lubricants are most widely used in industrial operations and the automotive sector due to their superior characteristics to natural mineral oil. Thus, the flourishment of the industrial and automotive sectors boosts the demand for synthetic lubricants. It is also used across wide array of industries that operate at a high level of operational consistency. Polyalphaolefin lubricant is the most commonly used synthetic oil in the automotive and industrial sectors. It has excellent physical and chemical properties, including a higher viscosity index, lower volatility and pour point, and greater thermal stability. Hence, the extensive application of lubricants in various industries is the key factor driving the lubricants additives market as additives are blended with lubricants to enhance their performance and service life.
The ongoing COVID-19 pandemic is anticipated to cause considerable disruptions in the growth of various industries in the Americas. The pandemic severely impacted the Americas lubricant additives market in 2020 as the supply chain of raw materials used in the production of lubricant additives was hampered due to the restriction of goods transport. Ease in lockdown measures in several countries and resumptions of operational activities in many industries helped in the revival of the demand for lubricant additives from 2021. In addition, the rapid pace of COVID-19 vaccination programs is expected to propel the growth of the Americas lubricant additives market in the coming years.
Strategic insights for the Americas Lubricant Additives provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,674.9 Million |
| Market Size by 2028 | US$ 5,922.8 Million |
| Global CAGR (2021 - 2028) | 3.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | United States
|
| Market leaders and key company profiles |
The geographic scope of the Americas Lubricant Additives refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
With the increasing number of wind energy projects, the demand for lubricant additives is expected to prosper in the Americas in the coming years. Renewable energy is a subsegment of the power generation industry, which is one of the leading consumers of industrial lubricants, especially turbine oil and transformer oil. Wind energy is one of the fastest-growing renewable energy types in the Americas. According to the US Department of Energy, the US installed 16,836 MW capacity of new wind electric turbines in 2020. Furthermore, it is aiming to achieve 20% of its electricity consumption through wind energy by 2030. Thus, as per a study by the University of Michigan, the America is estimated to install wind power infrastructure twice the current pace over the next decade to reduce further carbon emissions and mitigate the ill effects of climate change. Thus, such a growth trajectory of wind power is anticipated to hold potential opportunities for lubricants additives producers, which is expected to boost the market for lubricant additives in the Americas during the forecast period.
Based on type, the Americas lubricant additives market is segmented into dispersants, viscosity index improvers, detergents, antiwear agent, emulsifiers, and others. The dispersants segment led the lubricant additives market. Dispersants are lubricant additives that aid in forming sludge, varnish, and other deposits. Dispersants are employed to keep insoluble materials generated by oxidation and other causes within the oil during usage, preventing sludge flocculation and precipitation of these insoluble materials.
Based on application, the Americas lubricant additives market is segmented into automotive and industrial. The automotive segment led the market with a larger revenue share in 2020. The composition of lubricant additives supports longer service intervals, higher fuel efficiency, and greater machine longevity. In addition to this, growing electric vehicles (EV) is expected to proliferate the demand for lubricant additives and subsequently positively impact the automotive segment in the forecasted year.
Strategic insights for the Americas Lubricant Additives provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,674.9 Million |
| Market Size by 2028 | US$ 5,922.8 Million |
| Global CAGR (2021 - 2028) | 3.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | United States
|
| Market leaders and key company profiles |
The geographic scope of the Americas Lubricant Additives refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Evonik Industries Ag; The Lubrizol Corporation; LANXESS; Rose Mill Co., Aerospace Lubricants, Inc.; Tamco Lubrificantes; Mol-Lub Kft.; Dover Chemical Corporation; Nouryon; and Exxon Mobil Corporation are the key lubricant additive manufacturers worldwide. These players are actively focusing increasing their production capabilities owing to the rising demand for lubricant additives globally.
The Americas Lubricant Additives Market is valued at US$ 4,674.9 Million in 2021, it is projected to reach US$ 5,922.8 Million by 2028.
As per our report Americas Lubricant Additives Market, the market size is valued at US$ 4,674.9 Million in 2021, projecting it to reach US$ 5,922.8 Million by 2028. This translates to a CAGR of approximately 3.4% during the forecast period.
The Americas Lubricant Additives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Americas Lubricant Additives Market report:
The Americas Lubricant Additives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Americas Lubricant Additives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Americas Lubricant Additives Market value chain can benefit from the information contained in a comprehensive market report.
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