Top Lubricant Anti-wear Agents Market Industry Revenue Pockets

Lubricant Anti-wear Agents Market

Northbrook, IL, USA, 2021-Nov-10 — /EPR Network/ —

The global Lubricant anti-wear agents market size is projected to grow from USD 698 million in 2020 to USD 784 million by 2025, at a CAGR of 2.4% from 2020 to 2025. The growing demand for passenger and commercial vehicles in the automotive industry is driving market growth. Moreover, strategies such as agreements and plant expansions undertaken by several prominent players in the Lubricant anti-wear agents industry are further fueling the Lubricant anti-wear agents industry growth across the globe.

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Lubricating oil additives are used to enhance the performance of lubricants and functional fluids. Each additive is selected for its ability to perform one or more specific functions in combination with other additives. Lubricant anti-wear agents which is an oil additive, prevent direct metal-to-metal contact between the parts of machines when the oil film is broken down. Under conditions such as high load and lower lubricant viscosity, the metal-to-metal contact between the lubricated surfaces is referred to as boundary lubrication. Therefore, the use of anti-wear additives prevents boundary lubrication and results in longer machine life due to higher wear core resistance of the components.

Based on the application, the lubricant anti-wear agents market has been segmented into engine oil, automotive gear oil, hydraulic oil, grease, metalworking fluid, automotive transmission fluid and others. The other application in Lubricant anti-wear agentss includes compressor, turbine, and industrial gear oil. The engine oil application segment is projected to lead the market in terms of both value and volume during the forecast period. Engine oils are employed in the automotive lubricants. The engine oil application was the largest segment in the lubricant anti-wear agents market in 2019. Some of the key factors, such as the growth in the automotive sector in the developing regions of the world and the ever-increasing population in the APAC region, are resulting in augmenting the automotive oil application segment growth.

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Asia Pacific, Europe, and North America are significant regional markets for lubricant anti-wear agents. The increasing global demand for automobiles and rising industrial activities have led to the growth of the lubricant anti-wear agents market across the globe. Increasing infrastructure and growing GDP in the Asia-Pacific region is also boosting the growth of the market. Various leading manufacturers of Lubricant anti-wear agents have adopted the strategies of agreements, expansions, new product launches, acquisitions, collaborations, contracts, investments, and divestments to cater to the increased demand for lubricant anti-wear agents from various applications.