The quenching oil additive market may record substantial growth between 2020 and 2030. The notable rise of the utilization of quenching oil additives in end-uses such as mining, automotive, processing plants, food and beverages, metals, and others may bring tremendous growth prospects for the quenching oil additive market.
Quenching is a process involving rapid cooling of materials from increased temperature. A significant function of quenching oil is to manage the heat transfer mechanism during the steel or metal manufacturing process. Quenching oil additive is a formulated compound that comprises lubricity properties, is odorless, and is also non-staining. Quenching oil helps in escalating the quenching rates to achieve maximum hardness against fluctuating temperature changes. It is prominently used for minimizing distortions and crackers.
The properties of quenching oil additives such as effective corrosion prevention, good oxidation stability, better thermal conductivity, less volatility, and elevated flash point may bring immense growth opportunities for the quenching oil additive market.
Based on function, the quenching oil additive market can be classified into dispersants, detergents, anti-wear agents, oxidation inhibitors, and viscosity index improvers. In terms of quenching rate, the quenching oil additive market can be divided into high speed (7-9 sec), medium speed (10-12 sec), and low speed (13-20 secs).
This report on the quenching oil additive market aids the stakeholder to eliminate the barriers of fake information and offers a detailed analysis of a plethora of segments. The report provides the 3M (Market trends, Manufacturer analysis. Minute study on regions) advantage to the stakeholder. This advantage proves to be a game-changer for the stakeholder and assures ideal information on all aspects surrounding the quenching oil additive market.
The report focuses on the impact of the SARS-CoV-2 outbreak and also on the threats that may harm the growth prospects of the quenching oil additive market. The scrutinized study conducted by the researchers also highlights the opportunities and challenges that the quenching oil additive market may face during the tenure of 2020-2030.
The quenching oil additive market has a large number of players vying for a top position. The market is hybrid with a blend of local and international players involved in a neck-to-neck competition. Novel formulations with the help of intense research and development activities enable promising growth for the quenching oil additive market.
Activities like mergers, acquisitions, joint ventures, collaborations, and partnerships assist the players to strengthen their hold over the quenching oil additive market. Expansion activities are a top priority among many players because it helps them to explore untapped opportunities. These activities eventually increase the growth rate of the quenching oil additive market.
Key players in the quenching oil additive market are OilPure Technologies, Tashoil Company Pvt. Ltd., S. Dodge Oil, VAC Aero, CONDAT, Euclid Heat Treating Company, and Paras Lubricants Limited.
The quenching oil additive market is witnessing phenomenal demand from the mining sector. This aspect will help in multiplying growth. The prodigious demand for high-speed quenching oil for diverse purposes may serve as a vital growth accelerator for the quenching oil additive market. However, fluctuating raw material prices may dampen the growth of the quenching oil additive market to a certain extent.
Asia Pacific’s quenching oil additive market may gain considerable growth through the assessment period of 2020-2030. The expanding industrialization across various countries, especially China may bring promising growth for the quenching oil additive market in Asia Pacific. China may bring maximum growth for the quenching oil additive market in Asia Pacific. The Middle East and Africa’s quenching oil additive market may also observe lucrative growth.