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The global lubricant anti-wear agents market size is projected to grow from USD 698 million in 2020 to USD 784 million by 2025, at a CAGR of 2.4% from 2020 to 2025. The growing demand for high-passenger andcommercial vehicles in the automotive industry is driving the lubricant anti-wear agents industry growth as well as the rising GDP in the Asia Pacific. The increasing inclination toward electric vehicles and environmental concers is restraining the growth of the market.
The zinc dialkldithiophosphate (ZDDP) lubricant anti-wear agents segment, by type, is projected to have the largest market share
Zinc dialkldithiophosphate (ZDDP) is a family of uncharged compounds composed of phosphorus, zinc, and sulfur traces, primarily used as anti-wear additives in lubricants such as gear oil, grease, and motor oil. Zinc dialkldithiophosphate has high thermal and hydrolytic stability and forms protective chemical films on metal surfaces which prevents corrosive damage to valve train and bearings. ZDDPs are multifunctional because they provide wear, oxidation, and corrosion protection. Their antioxidant properties prevent soot deposits and formation of sludge on engine components. This additive provides oxidation, copper-lead bearing corrosion, and wear control majorly in diesel and gasoline engines. It is particularly effective under severe temperature and load. Thus, zinc dialkldithiophosphate enhances the properties of lubricants and is used in various applications such as engine oil, hydraulic oil, and compressor oil..
The engine oil application segment is projected to lead the global lubricant anti-wear agents market during the forecast period
Based on the application, the engine oil application segment led the lubricant anti-wear agents market in 2019. The growth of this segment can be attributed to the growth of the automotive sector mainly related to passenger cars and commercial vehicles in the developing regions of the world, and the increasing population in APAC is driving the growth of the automotive oil application segment.
Asia Pacific is projected to lead the global lubricant anti-wear agents market during the forecast period
The Asia Pacific region is expected to lead the lubricant anti-wear agents industry from 2020 to 2025 in terms of both value and volume. The demand for lubricant anti-wear agents is increasing in Asia Pacific owing to the growing automotive industry in the region. Also, the increasing GDP in the area is expected to fuel the demand for automobiles; thus, driving the lubricant anti-wear agents market growth. The market in this region is also projected to continue its market dominance in terms of both value and volume, from 2020 to 2025, owing to the and rising industrial activities in the developing countries of the Asia Pacific region.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 60%, Tier 2 – 20%, and Tier 3 – 20%
- By Designation: C-level Executives – 33%, Directors – 33%, and Managers – 34%
- By Region: North America – 20%, Europe – 25%, Asia Pacific – 25%, the Middle East & Africa- 20%, and South America – 10%
Furthermore, as a part of the qualitative analysis of the lubricant anti-wear agents market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as Afton Chemical (US), BASF SE (Germany), Chevron Oronite (US), Solvay (Belgium), LANXESS (Germany) are some of the leading players operating in the lubricant anti-wear agents market.
The report defines segments and projects the size of the lubricant anti-wear agents market based on the type, sales channel, application, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments such as expansions, acquisitions, new product launches, and investments undertaken by them in the market.
Reasons To Buy the Report:
- The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the lubricant anti-wear agents market and its segments.
- This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies.
- It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.