The US$ 1.6 billion lubricant antioxidants market is likely to witness 3% y-o-y in 2019, opines a new study by FactMR. Gains are likely to be driven by growing applications of lubricant antioxidants in various industrial sectors, especially automotive and transportation. The study remains bullish on growing demand for lubricant antioxidants in East Asia, with China leading the rally. The FactMR study offers analysis on lubricant antioxidants market for the forecast period 2018-2028. According to the study, the global market for lubricant antioxidants will witness healthy growth at a value CAGR of 3.6% throughout the assessment period.
The FactMR study finds East Asian countries, including China, Japan, and South Korea, account for around one-fourth revenue share of the global market. Demand for lubricant antioxidants from these three East Asian countries was valued at nearly US$ 435 million in 2018. A strong automotive industry, combined with growing investment in high-quality lubricants is likely to sustain market growth in East Asia.
The lubricant antioxidants market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin.
The lubricant antioxidants market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing lubricant antioxidants?
- How does the global lubricant antioxidants market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2029?
- What innovative products are being introduced by the players in the global lubricant antioxidants market?
- Which regions are showing the fastest market growth?
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Multimillion-Dollar Investments to Expand Production Capacities in China
FactMR finds that a mounting number of stakeholders in the lubricant antioxidants market perceive East Asia as the biggest consumer of automotive lubricants and are investing heavily to expand their product capacities in the region. Large chemical companies and oil industry players, such as BASF, Chevron, SONGWON, and Evonik, have invested heavily in lubricant additive technologies to capitalize on China’s fast-growing automotive industry and lubricants market.