Global Antiwear Agents Market Overview:
Antiwear agents are used to minimize wear and tear in moving metal parts. Friction is a phenomena which lowers down the actual efficiency of metal parts which are motion. of late, there has been growing focus on increasing efficiency and life cycles of metal components, which results in increasing the demand of antiwear agents.
Market Drivers
- Growing Demand of Antiwear from Automobile Industry
- Rising Need to Increase the Efficiency by Reducing Friction in Moving Components
Market Trend
- Focus on Development of High Viscosity Index Antiwear Agents
- Rising Use of Environment Friendly Materials for Antiwear Agents
Restraints
- Volatility in Raw Materials Prices
- Availability of Counterfeit Antiwear Agents and Dominance of Local Players
Opportunities
- Expensive R&D Process to Formulate Additive Package in Compliance With Stringent Environmental Regulations
- High Industrial Growth in Emerging Countries
Challenges
- Rising Sales of Electric Vehicles Especially in Europe and North America
- Stringent Rules and Compliance Requirement for Packaging of Antiwear Agents
Competitive Landscape:
Some of the key players profiled in the report are Ethyl Corporation (United States), OM Group, Inc. (United States), ExxonMobil Chemical Company (United States), Precor, Inc. (United States), Chevron Oronite Company LLC (United States), Chemutra Corporation (United States), Afton Chemical Corp. (United States), Infineum International Limited (United Kingdom), Petroflow Energy Corporation (United States), Innospec, Inc. (United States) and Royal Dutch Shell plc (Netherlands). Additionally, following companies can also be profiled that are part of our coverage like Baker Hughes, Inc. (United States), Petroleos de Venezuela, S.A. (Venezuela), BASF AG (Germany) and Repsol, S.A. (Spain). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Antiwear Agents market by 2024. Considering Market by Industry Verticals, the sub-segment i.e. Automotive will boost the Antiwear Agents market. Considering Market by Oil Type, the sub-segment i.e. HDMO (Heavy Duty Motor Oil ) will boost the Antiwear Agents market.
Market Highlights:
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Antiwear Agents 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 Antiwear Agents 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 Antiwear Agents Manufacturers, Raw Materials Suppliers, End-users Industries, Potential Investors, Government Agencies and Others.
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.