Lubricating oil additives are the substances that are mainly used to enhance functional fluids and lubricants performance. Each of the additives is added to improve the functioning of one or more additives combined together. Largest use of such lubricating additives is in automotive engine which includes other applications such as hydraulic fluids and gear oils. Some of the major functional additives are detergents, oxidation inhibitors, anti-wear agents, viscosity index improvers and extreme pressure additives etc.
In order to be able to fulfill rising demand, the chemical industry invests billions of dollars each year in new and sustaining capital. Chemicals and materials are omnipresent in contemporary life, therefore major changes will be required for chemical makers to function in a changing geopolitical environment on a global scale, either proactively or reactively. Chemical firms will probably need to prepare for difficulties in the upcoming year, such as global inflation and oil price instability.
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COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
Market Segmentation
By Functional Type [Anti Wear Agents, Detergents, Dispersants, Viscosity Index Improvers, Anti-Oxidants, Extreme Pressure Additives, Rust & Corrosion Inhibitors, Pour Point Depressants (PPD), Emulsifiers, Friction Modifiers, Oxidation Inhibitors, Other], Application (Industrial Oil, Metalworking Fluid, Process Oil, Engine Oil, Gear Oil, Hydraulics Fluid, Other), End-User (Industrial, Automotive), Country (U.A.E., Saudi Arabia, Israel, Egypt, South Africa and rest of Middle East & Africa).
Middle East and Africa lubricating oil additives market is segmented into three notable segments which are functional type, application and end user.
> On the basis of functional type, the market is segmented into anti-wear agents, detergents, dispersants, viscosity index improvers, anti-oxidants, extreme pressure additives, rust and corrosion inhibitors, pour point depressants (PPD), emulsifiers, friction modifiers, oxidation inhibitors and others.
> On the basis of application, the market is segmented into industrial oil, metalworking fluid, and process oil, engine oil, and gear oil, hydraulics fluid and other.
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> On the basis of end user, the market is segmented into industrial and automotive. Automotive is further segmented into heavy-duty vehicles, passenger car and other.
Market Players
The key market players for Middle East & Africa lubricating oil additives market are listed below:
> BASF SE
> Evonik
> Midcontinental chemical company Inc
> Croda International Plc
> Afton Chemical
> Clariant
> Eni S.P.A.
> Eurolub
> IPAC, Inc
> BRB International
> Tianhe Chemicals
> Total
> Chevron Corporation
> Infineum international limited
> Vanderbilt Chemicals
> The Lubrizol Corporation
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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