COVID-19 Impact on Lubricant Anti-wear Agents Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, and other reasons. This is expected to hamper the lubricant anti-wear agents market.
Key Drivers and Restraints of Lubricant Anti-wear Agents Market
- Lubricant anti-wear agents are primarily employed in engine oil applications. Lubricant anti-wear agents are widely used in the automotive industry. Lubricant anti-wear agents act to prevent abrasion in a lubricant system. These additives work by forming a sacrificial film on a metal surface, preventing asperities on the metal surfaces from directly coming into contact when the lubricating oil can no longer provide the necessary film thickness. Increase in demand for lubricant anti-wear agents in the automotive industry is expected to fuel the global lubricant anti-wear agents market in the next few years.
- Rise in economic growth in Asia Pacific is a vital factor driving the market in the region. Increase in research and development activities, rise in demand for chemicals, and growth in demand for lubricant anti-wear agents in emerging economies are the major factors driving the lubricant anti-wear agents market. Furthermore, increase in demand for renewable energy and rise in the demand for these agents from BRICS countries are likely to further create new opportunities for the lubricant anti-wear agents market in the near future.
Lubricant Anti-wear Agents: Type Segment
- In terms of type, the global lubricant anti-wear agents market can be segmented into zinc dialkyl dithiophosphates (ZDDP), phosphate, phosphite, and phosphonate
- The zinc dialkyl dithiophosphates (ZDDP) type segment of the global lubricant anti-wear agents market is projected to hold major share during the forecast period. Zinc dialkyl dithiophosphate (ZDDP) is a family of uncharged compounds composed of phosphorus, zinc, and sulfur traces, primarily used as anti-wear additives in lubricants such as gear oil, grease, and motor oil. Zinc dialkyl dithiophosphate has high thermal and hydrolytic stability and forms protective chemical films on metal surfaces. This prevents corrosive damage to valve train and bearings.
- The phosphate segment is projected to follow the zinc dialkyl dithiophosphates (ZDDP) segment during the forecast period. Phosphate is used in numerous industrial applications due to its overall stability, especially in the presence of oxygen. High demand for phosphate cellulose in the automotive industry is driving the global lubricant anti-wear agents market.
Lubricant Anti-wear Agents: Application Segment
- Based on application, the global lubricant anti-wear agents market can be segmented into engine oil, automotive gear oil, automotive transmission fluid, hydraulic oil, metalworking fluid, grease, and others
- The engine oil segment is projected to gain higher share of the global market during the forecast period. The growth of this segment can be attributed due to the expansion of the automotive sector, mainly related to passenger cars and commercial vehicles, in developing regions of the world, and the increasing population in Asia Pacific. Hence, wide usage of lubricant anti-wear agents in the automotive industry is expected to drive the lubricant anti-wear agents market during the forecast period.
- The automotive gear oil segment is projected to hold key share of the global lubricant anti-wear agents market in the near future. Increase in sales of passenger cars and commercial vehicles is driving the lubricating oil additives market in the automotive industry.
Asia Pacific to Hold Leading Share of Lubricant Anti-wear Agents Market
- In terms of region, the lubricant anti-wear agents market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold a major share of the global lubricant anti-wear agents market, followed by Europe and North America, during the forecast period. This can be attributed to increasing GDP led by the rising industrial activities in Asia Pacific. China, Japan, and India are the significant consumers of lubricant anti-wear agents in this region. Furthermore, growth of transportation, power generation, and mining sectors is boosting the lubricant anti-wear agents market in Asia Pacific.
- Demand for lubricant anti-wear agents in automotive gear oil applications in North America and Europe is projected to rise at a rapid pace in the near future
Key Manufacturers Operating in Lubricant Anti-wear Agents Market
The lubricant anti-wear agents market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the lubricant anti-wear agents market include:
- Afton Chemica
- BASF SE
- Chevron Oronite
- The Lubrizol Corporation
- Croda International PLC
- Tianhe Chemicals
- Wuxi South Petroleum Additives Co. Ltd
- BRB International
Lubricant Anti-Wear Agents: Research Scope
Lubricant Anti-wear Agents Market, by Type
- Zinc Dialkyl Dithiophosphates (ZDDP)
Lubricant Anti-wear Agents Market, by End-use
- Engine Oil
- Automotive Gear Oil
- Automotive Transmission Fluid
- Hydraulic Oil
- Metalworking Fluid
Global Lubricant Anti-wear Agents Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Lubricant Anti-wear Agents: Introduction
- Lubricant anti-wear agents are defined as the type of substances that is formulated for improvement of anti-friction, chemical, and physical properties of base oils. This results in enhancing the lubricant performance and extending the equipment life. Lubricant anti-wear agents are organic or inorganic compounds dissolved or suspended as solids in oil. They typically range between 0.1% and 30% of oil volume, depending on the machine.
- Lubricant anti-wear agents are majorly used in engine oil, gear oil, transmission fluid, and hydraulic fluid to prevent adhesive wear and protect metal components
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.