According to a new report published by UnivDatos Markets Insights, the anti-wear additives market is expected to grow at a CAGR of around 3% from 2022-2028. The analysis has been segmented into Type (ZDDP, Phosphorus, and Others); Application (Engine Oil, Hydraulic Oil, Metalworking Fluid, and Others); Region/Country.
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The anti-wear additives market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the market. The anti-wear additives market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the anti-wear additives market at the global and regional levels.
Market Overview
Anti-Wear Additives are lubricants that react with the metal surface at elevated temperature and pressure ambiance by forming a protective shield between metal surfaces which prevent metal surfaces from wearing under the boundary of lubrication condition. Anti-wear additives chemically react with the surface to form a low-shear-strength coating.
The Anti-Wear Additives Market is expected to grow at a steady rate of around 3% during the forecast period. Anti-wear additives are generally used under mild conditions of low loads and high speeds to reduce the rate of continuous and moderate wear. The additive helps coat the application surface to protect the metal from wear over time. Factors such as surging demand for anti-wear additives across various end-user industries, especially automotive industries propelling the market for anti-wear additives. Increasing automotive production with a growing fleet of vehicles is fueling the market growth, owing to its extensive consumption of gearboxes for the protection of its metal surfaces. Also, growing automotive production coupled with an increasing fleet of vehicles is the key factor in driving the market of anti-wear additives.
Some of the major players operating in the market include Chemtura Corporation, Evonik, Lubrizol, Infineum, Chevron Oronite, Vanderbilt Chemicals, Tianhe Chemicals Group, Afton Chemical Corporation, BASF, and Croda International.
COVID-19 Impact
The COVID-19 outbreak posed additional stress on various economies across different sectors. Travel restrictions have caused a downturn in many markets, and growth has slowed as a result. The lockdowns have forced production facilities to remain closed, negatively impacting the anti-wear additives market due to the suspension of construction and manufacturing industries’ work due. Additionally, closures of borders and export bans have led to a fluctuation in raw material prices and supplies; this has severely affected the production of anti-wear additives
The global anti-wear additives market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the type, the anti-wear additives market is classified into ZDDP, phosphorus, and others. The ZDDP segment caters substantial share of the market. Zinc dialkyl dithiophosphates (ZDDPs) are very effective anti-wear agents that are used as machine lubricants (e.g., greases, hydraulic oils, and motor oils), including applications in the automotive industry. Moreover, ZDDP is the most commonly used anti-wear additive. That prevents oxidation and corrosion, driving the growth of this segment.
· Based on application, the anti-wear additives market is segmented into the engine oil, hydraulic oil, metalworking fluid, and others. The engine oil segment caters considerable share of the market. Engine oils are made of a composition of additives and base oils. It is used on a large scale for maintaining viscosity, thereby reducing engine friction and wear. It helps keep the engine cool over long working durations, prevents corrosion, increases fuel efficiency, and reduces carbon emissions.
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Anti-Wear Additives Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
· Rest of the World
Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the increase in demand for anti-wear additives in diverse end-use industries such as industrial, mining, and construction industries. Demand for high-performance anti-wear agents and advancements in technologies are expected to support the growth of the market during the forecast period.
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The major players targeting the market include
· Chemtura Corporation
· Evonik
· Lubrizol
· Infineum
· Chevron Oronite
· Vanderbilt Chemicals
· Tianhe Chemicals Group
· Afton Chemical Corporation
· BASF
· Croda International
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Anti-Wear Additives market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the anti-wear additives market?
• Which factors are influencing the anti-wear additives market over the forecast period?
• What are the global challenges, threats, and risks in the anti-wear additives market?
• Which factors are propelling and restraining the anti-wear additives market?
• What are the demanding global regions of the anti-wear additives market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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Table Of Content:
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE ANTI-WEAR ADDITIVES MARKET
6 ANTI-WEAR ADDITIVES MARKET REVENUE (USD BN), 2020-2028F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY APPLICATION
9 MARKET INSIGHTS BY REGION
10 ANTI-WEAR ADDITIVES MARKET DYNAMICS
11 ANTI-WEAR ADDITIVES MARKET OPPORTUNITIES
12 ANTI-WEAR ADDITIVES MARKET TRENDS
13 DEMAND AND SUPPLY-SIDE ANALYSIS
14 VALUE CHAIN ANALYSIS
15 COMPETITIVE SCENARIO
16 COMPANY PROFILED
17 DISCLAIMER
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