Extreme Pressure Additives Market: Introduction
Extreme pressure additives are used in various lubricants to reduce wear & tear of metals, especially in gearbox applications. These additives are also used in cutting fluids for metal machining applications. Extreme pressure additives are mainly used in extreme pressure gear oils to perform in high temperature, speed, and different gear sizes. These additives are used to prevent damages to gears, especially while starting and stopping of engines. Extreme pressure additives are rarely used in motor oils. These additives contain organic sulfur, chlorine, and phosphorus. Extreme pressure additives also contain sulfur phosphorus and sulfur phosphorus boron compounds that react during the high-pressure conditions.
Increase in demand for high-performance lubricant oils in extreme pressure applications is projected to fuel the demand for extreme pressure additives during the forecast period. Rise in demand for automotive vehicles across the globe, especially in the commercial segment, is likely to propel the extreme pressure additives market during the forecast period. Extreme pressure additives may deliver detrimental properties owing to the highly chemically reactive to metal surfaces. This is a key factor expected to hamper the global extreme pressure additives market during the forecast period.
Extreme Pressure Additives Market: Segmentation
Based on material type, the global extreme pressure additives market can be divided into chlorinated paraffin, sulfurized fats, and others. The sulfurized fats segment is estimated to hold dominant share of the market during the forecast period. Sulfurized fats are highly effective in metal surfaces and more chemically reactive than other additives. These are key properties projected to boost the extreme pressure additives market in the next few years. End-use industries of the extreme pressure additives market include automotive, iron & steel, and others. The automotive segment is projected to constitute major share of the global extreme pressure additives market in the next few years.
Extreme Pressure Additives Market: Region-wise Outlook
Based on region, the global extreme pressure additives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific is anticipated to constitute leading share of the market in the next few years. Rise in industrialization, especially in China, India, and South Korea, is likely to fuel the demand for metalworking fluid and metal cutting fluids in the next few years. Extreme pressure additives are essential components for providing anti-friction and lubricating properties. Development of infrastructure in various counties such as China and India owing to the increase in government initiatives is anticipated to propel the extreme pressure additives market. Furthermore, growth in metal works and industrial output, which require lubricating liquid, is also boosting the demand for extreme pressure additives in Asia Pacific. The market in North America and Europe is likely to expand at a moderate pace during the forecast period due to the large presence of lubricant manufacturers in these regions. The market in Latin America and Middle East & Africa is projected to expand at a rapid pace in the near future.
Extreme Pressure Additives Market: Key Players
Several manufacturing companies operate in the global extreme pressure additives market. Some of the prominent manufacturers of extreme pressure additives include DIC Corporation, Dover Chemical Corporation, Afton Chemical Corporation, and Italmatch Chemicals.
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