Global Petroleum Additives Market Overview:
Petroleum additives are chemical compounds that recover the lubricant performance of base oil. The manufacturer of several different oils can utilize the same base stock for each preparation and can choose different additives for each definite application. The petroleum additive industry develops and supplies products that increase the quality of fuels that are used in aircrafts, motor vehicles and marine vessels and in fixed installations such as refineries and power stations.
Growth Drivers
- Growing Number of Automotive in North America and Europe
- Degrading Quality of Crude Oil
Roadblocks
- Rise in Demand for Alternate Fuel Additives
Opportunities
- Wide Range of Additives have been Developed to Meet the Need of Industry
Challenges
- Require Huge Investment in R&D
Competitive Landscape:
Some of the key players profiled in the report are NewMarket Corporation (United States), Baker Hughes Inc. (United States), BASF AG (Germany), Chemtura Corporation (United States), Chevron Oronite Company LLC (United States), ENI SpA (Italy), Ethyl Corporation (United States), ExxonMobil Chemical Company (United States), Infineum International Limited (United Kingdom), OM Group Inc. (United States), CITGO Petroleum Corporation (United States), Qatar Petroleum (Quatar), Repsol S.A. (Spain) and Royal Dutch Shell Plc (Netherlands). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Petroleum Additives market by 2026.
Latest Market Insights:
On Jun. 24, 2019 - Baker Hughes, a GE company and C3.ai has announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique AI software suite to deliver digital transformation technologies that will drive new levels of productivity for the oil and gas industry.
What Can be Explored with the Petroleum Additives Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Petroleum Additives Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Petroleum Additives
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Petroleum Additives market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Petroleum Additives market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Petroleum Additives, Suppliers of Petroleum Additives, Wholesalers, Distributors and Retailers of Petroleum Additives, Oil & Gas Industry, Automotive Industry and Governmental Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.