Implementation of stringent regulations regarding the emission of pollutants in the U.S. is anticipated to drive the market growth in the near future. Asia Pacific is experiencing rapid economic growth in countries such as China and India. In addition to this, the increasing automotive sector in countries such as India, South Korea and Japan and the significant change in innovative technologies in China and Malaysia are estimated to propel the growth of the lubricity improver market in the region.
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Lubricity improvers are phosphorus-free fuels that are non-metallic in content. They effectively provide lubrication for long spans of time and reduce the extra cost of maintenance. Lubricity improvers are relatively more effective as compared to conventional fuels, due to the higher levels of aromatic content in conventional fuels. In addition to this, lubricity improvers are equally effective with low VOC content. The production process of lubricity improvers is complex and requires a controlled environment and safety precautions.
Lubricity Improvers Market: Dynamics
Stringent regulations regarding VOCs and balanced growth of key end use industries are expected to contribute to the growth of the lubricity improvers market in the coming future. Some negative factors such as the increasing consumption of bio-based product offerings and relatively slow growth of regional dynamics restrict the progress of the lubricity improvers market.
Key players in the lubricity improvers market aspire to offer fuels that are tailored to cater to specific end-use requirements. These key players prefer to offer high value-added fuels in order to achieve major shares in terms of value and volume. Manufacturers aim to offer application-specific products in the lubricity improvers segment and the growing consumption in developing regions is expected to create new trends in the lubricity improvers market during the forecast period.
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Lubricity Improvers Market: Segmentation
The lubricity improvers market can be segmented on the basis of product type, application, ingredient and end use.
On the basis of product type, the lubricity improvers market has been segmented as,
On the basis of application, the lubricity improvers market has been segmented as,
- Gasoline Fuel
- Diesel Fuel
- Aviation Fuel
On the basis of ingredient, the lubricity improvers market has been segmented as,
On the basis of end use, the lubricity improvers market has been segmented as,
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Other Industrial
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Lubricity Improvers Market: Regional Outlook
In terms of volume, Western Europe is likely to dominate the global lubricity improver market in the coming future, owing to the heavy demand for ULSD in the region. On the basis of consumption, Western Europe led the global market in 2017, followed by Asia Pacific and North America. The lubricity improver market in the U.S. is anticipated to experience weak growth, owing to the relatively mature markets in countries such as Canada.
Lubricity Improver Market: Market Participants
Some of the key players operating in the lubricity improver market include,
- Afton Chemical Corporation
- BASF SE
- The Dow Chemical Company
- The Lubrizol Corporation
- Chevron Ornite Company
- Huntsman Corporation
- Total S.a.
- ADCO Global Inc.
- Deepak Nitrite Ltd
- Baker Petrolite Corporation
- Aicello Chemical Co. Ltd
- Abhitech Energycon Limited
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