Latin America lubricants additive market report gives comprehensive outlook on Lubricants Additive market across the different countries of Latin America such as Brazil, Mexico, Argentina, Chile, and the Rest of Latin America. The report on Latin America lubricants additive market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies Latin America Lubricants Additive market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
In addition, Latin America Lubricants Additive market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America Lubricants Additive market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America Lubricants Additive market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
Latin America Lubricants Additive Market:
The lubricant additives market is being driven mainly by high growth in the developing nations along with efforts toward fuel economy. In order to achieve fuel economy, extensive research is being done to improve lubricant additive properties and characteristics to comply with the technological changes in modern engines and accessories. Increasing marine and aviation transportation, growing automotive industry, and improved emission regulations in conjunction with fuel economy standards are driving the lubricant additives market growth.
The enhancement in durability allows effective use of energy resources, provides capabilities to employ alternative fuels, and maintains low levels of exhaust emissions. The use of environment-friendly fuels, including renewable fuels, in both automotive and industrial engines, is expected to drive the demand for lubricant additives over the forecast period. However, higher drain intervals for high-grade lubricants inhibit the market growth owing to lubricant solutions with decreased maintenance costs and servicing. In addition, the fluctuations in the lubricant market are responsible for the relatively low growth rate of the world lubricant additives market.
Strategic Acquisition and Business Expansions Escalates the Growth of Latin America Lubricants Additive Market
Latin America lubricant additives market is characterized by the presence of a large number of players. Companies are thriving on various applications of tactics such as merger, acquisition, product launches, and others. For instance, Italmatch Chemicals is planning to acquire Afton Chemical’s metalworking fluid business which can prove beneficial for the former’s portfolio and help in further expansion. Lanxess, meanwhile, manages to take over Chemtura which will boost its additives market.
Investments in R & D for the Product Launch Aids in the Growth of Latin America Lubricants Additive Market
The lubricant additives market is expected to grow at a CAGR of XX% by 2019. Lubricant additive are primarily used to enhance fuel efficiency, improve performance, and engine protection. The lubricant additives are expected to play a vital role in the coming years, towards fuel economy, especially contributing to emerging technologies like Dual Clutch Technology (DCT). With increasing regulatory pressure on improving the fuel efficiency of vehicles and reducing greenhouse gas emissions, there has been a tremendous development in lubricating oil formulations.
Blenders have significantly invested in R&D for developing superior products that adhere to environmental regulations as well as consumer expectations. Since additives play a significant role in base oil blending and subsequent formulations as they are critical materials in improving specification and performance of oils. The trend as stated above has had an enormous impact on the industry’s development over the past and is expected to continue driving the Latin America lubricant additives market.
Mexico Accounts for Larger Market Revenue Share in Latin America Lubricants Additive Market
Latin America lubricants additive market will be the second most growing market, leaving behind developed economies, such as North America and Europe. Brazil is leading the growth in Latin America. Companies that are well established in these locations are in the strongest position to take advantage of these opportunities. Growth rates for the LOA business in the developed world, where the market is highly mature, will remain minimal. The most important considerations in the most economically developed regions are the changing technology in the end-use industries (e.g., automotive engine design), government regulations (e.g., lower emissions and lower fuel consumption), and the need to provide the attributes the end-use industries or lubricant manufacturers wish to promote in their marketing strategies (e.g., longer drain intervals and lower maintenance costs).
Key players profiled in the Latin America lubricants additive market include:
· Chevron Corp
· Afton Chemical Corporation
· The Lubrizol Corporation
· Infineum International Limited
· BASF SE
· BRB International BV
· Wuxi South Petroleum Additive Co.
· Croda Lubricants
· DOG Chemie
· Dorf Ketal
· Dover Chemical
· Eni SpA.
· Evonik Industries AG
· Jinzhou Kangtai Lubricant Additives Co. Ltd
· King Industries Inc.
Key players are adopting new strategy to establish their footprint worldwide thereby enhancing their product portfolio. Merger, acquisition, product development and collaborations are some of the market strategy the key players implement. In September 2017, BASF commissioned technical lab at Innovation Campus Asia Pacific, located in Navi Mumbai, India.
Key Findings of the Report:
Latin America Lubricants Additive market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to flourishing economy and rapidly expanding industrial and automotive sectors
· Based on product type detergent segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
· Players focusing on mergers and acquisitions strategies to retain market position in Latin America Lubricants Additive market
Key Features of the Report:
· The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
· The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
· The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
· The report tracks recent innovations, key developments and startup’s details that are actively working in the market
· The report provides plethora of information about market entry strategies, regulatory framework
· The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
o Viscosity index improvers
o Anti-wear agents
o Corrosion inhibitors
o Friction modifiers
By Application Type
o Automotive lubricants
o Industrial lubricants
o Latin America
· Rest of Latin America