The report " Engine Oil Additive Market: By Type (Anti-Oxidants, Detergents, Dispersants, Anti-Wear Additives, VI Improvers, Corrosion Inhibitors, Friction Modifiers, PPD, Others); By Engine Type (Gasoline Engine Oil Additives, Diesel Engine Oil Additives, Natural Gas Engine Oil Additives); By End User; By Geography - Trends and Forecast to 2020", defines and segments the Engine Oil Additive Market with analysis and forecasting of the global revenues for Engine Oil Additive Market. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, winning imperatives, and challenges.
Browse Market Data Tables, Figures spread through 116 pages and in-depth TOC on “Engine Oil Additive Market: By Type (Anti-Oxidants, Detergents, Dispersants, Anti-Wear Additives, VI Improvers, Corrosion Inhibitors, Friction Modifiers, PPD, Others); By Engine Type (Gasoline Engine Oil Additives, Diesel Engine Oil Additives, Natural Gas Engine Oil Additives); By End User; By Geography - Trends and Forecast to 2020”.
Engine oil additives are specialty chemicals used to enhance the performance of engine oil as well as the durability of the engine. These additives when added to engine oil while formulating it, improve its physical and chemical properties. Global engine oil additives market is segmented based on different criteria such as by type, by engine type, by end user and by geography.
Different types of additives include anti-oxidants, detergents, dispersants, anti-wear, VI improvers, corrosion inhibitors, friction modifiers, pour point depressants and others. Others include metal deactivators, emulsifiers and more. Gasoline engine, diesel engine, natural gas engine and others are considered while segmenting the market based on engine type. End users of the market are passenger car, commercial vehicle, motorcycle and others; others include application in marine engine oil.
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Global engine oil market is estimated to grow at a CAGR of 3.2% from 2015 to 2020. Asia-Pacific (APAC) is the largest and fastest growing market for engine oil additives both in terms of volume and revenue, driven by the higher number of in use vehicles in the region. America and Europe are in the second and third position in terms of volume consumption and revenues of the market.
One of the key factors hindering the growth of engine oil additives market is the aggressive sales of electric vehicles especially in Europe and North America. There is not much lubrication needed in electric vehicles as there is no combustion engine involved in it. However, it will take long time for electric vehicles to replace the fuel powered vehicles.
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Increasing motor vehicle production around the globe is one of the major drivers for engine oil additives market. Every vehicle engine needs engine oil to work smoothly, due to which consumption of engine oil is increasing steadily. Major additive types, which are in high demand, are detergents, dispersants and VI improvers. Government regulations regarding improvement of fuel economy and reduction of emission from vehicles is another key factor contributing to the growing importance of additives in engine oil.
The International Energy Agency (IEA), United Nations Environment Programme (UNEP), International Transport Forum of the OECD (ITF), International Council on Clean Transportation (ICCT), Institute for Transportation Studies at UC Davis, and the FIA Foundation has partnered together and started GFEI (Global Fuel Economy Initiative) whose main objective is to assist government and transport stakeholders to promote greater fuel economy.
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