What is Automotive Crankcase Additives Market?
Automotive crankcase additives are available in various types such as friction modifiers, rust inhibitors, viscosity index improvers, anti-misting agents, dispersants, extreme pressure additives, and others. It is used in light commercial vehicles and heavy commercial vehicles. Increasing demand for vehicles in the Asia Pacific region and the growing number of automobiles for both personal as well as commercial uses across the world are likely to be the prime drivers for market growth.
Highlights from Automotive Crankcase Additives Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ABRO Industries (India), BASF SE (Germany), Chemtura Corporation (United States), Afton Chemical Corporation (United States), Evonik Industries AG (Germany), The Lubrizol Corporation (United States), Chevron Corporation (United States), Croda International (United Kingdom), Brenntag Holding GmbH (Austria) and Royal Dutch Shell PLC (Netherlands) |
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Crankcase Additives market throughout the forecasted period.
ABRO Industries (India), BASF SE (Germany), Chemtura Corporation (United States), Afton Chemical Corporation (United States), Evonik Industries AG (Germany), The Lubrizol Corporation (United States), Chevron Corporation (United States), Croda International (United Kingdom), Brenntag Holding GmbH (Austria) and Royal Dutch Shell PLC (Netherlands) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are ENI SpA (Italy), BRB International B.V. (Netherlands), Vanderbilt Chemicals LLC (United States) and Petroleum Chemicals (United States). Automotive Crankcase Additives Market Segmentation:
Scope | Sub-Segments |
---|
Type | Friction Modifiers, Rust Inhibitors, Viscosity Index Improvers (Vii), Anti-Misting Agents, Dispersants, Extreme Pressure (Ep) Additives and Others |
Vehicle Type | Light Commercial Vehicles,Heavy commercial vehicles |
Sales Channel | OEMs,Aftermarket |
Engine Type | Diesel Engines,Petrol Engines,Natural Gas,Others |
On the basis of geography, the market of Automotive Crankcase Additives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement in Automotive Crankcase Additives
Market Growth Drivers:
Growing Number of Automobiles for both Personal as well as Commercial Uses and Rising Demand for the Automotive Crankcase Worldwide
Challenges:
Increasing Raw Material Prices
Restraints:
Stringent Rules and Regulation
Opportunities:
In the Asia Pacific region, the number of vehicles produced per year in China and India is higher as compared to Europe and North America regions. For instance, in 2018, India became the 4th largest auto market with sales increasing more than 8.3% year-on-year to 3.99 million units. It was the 7th largest manufacturer of commercial vehicles in 2018. Therefore, it will new opportunities for market expansion.
Key Target Audience
Automotive Crankcase Additives Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
Market Leaders & Development Strategies
In October 2020, Royal Dutch Shell plc launched new E-fluids from Shell and Fuchs, adding fluids for light, medium, and heavy electric commercial vehicles to its existing passenger car e-fluid range. The new fluids are for batteries and fuel cell EVs and include transmission fluids, greases, and battery coolants. Shell first launched the Electro Fluids and Electro Grease segments in May 2019, with a range of fluids optimized for use in electric vehicles.