The global Anti-Wear Additives Market is expected to foresee significant growth. Asia Pacific to lead the growth!
- Vikas Kumar
- November 19, 2022
- CHEMICAL, NEWS
- 0 Comments
The Anti-Wear Additives Market is expected to grow at a CAGR of around 4% from 2022-2028. Anti-Wear Additives are lubricants that react with the metal surface at elevated temperature and pressure ambiance by forming a protective shield between metal surface 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.
In addition, Antiwear 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. 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.
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Based on the type, the anti-wear additives market is classified into ZDDP, phosphorus, and others. The ZZDP segment caters substantial share of the market. Zinc dialkyl dithiophosphates (ZDDPs) are very effective antiwear 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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For a better understanding of the market adoption of the Anti-Wear Additives industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), of 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.
Some of the major players operating in the market Chemtura Corporation, Evonik, Lubrizol, Infineum, Chevron Oronite, Vanderbilt Chemicals, Tianhe Chemicals Group, Afton Chemical Corporation, BASF, and Croda International.
Global Anti-Wear Additives Market Segmentation
Market Insight, by Type
• ZDDP
• Phosphorus
• Other
Market Insight, by Application
- Engine Oil
- Hydraulic Oil
- Metalworking Fluid
- Other
Market Insight, by Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- The United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
• Chemtura Corporation
• Evonik
• Lubrizol
• Infineum
• Chevron Oronite
• Vanderbilt Chemicals
• Tianhe Chemicals Group
• Afton Chemical Corporation
• BASF
• Croda International
