Political strategies

Europe lubricant additives market strategies

The research report “Europe Lubricant Additives Market: By Product Type (Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, Others), by Application (Automotive Lubricant, Industrial Lubricants) and Geography – Global/Regional/Country Forecast till 2028. Europe Lubricant Additives Market is anticipated to be valued at X Million US$ in 2021 and is expected to grow at a significant CAGR rate of X% over the period 2022-2028.

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Strong growth in developing countries along with fuel saving efforts are driving the European lubricant additives market:
Improved durability enables the use of alternative fuels, makes efficient use of energy resources and maintains low levels of exhaust emissions. Extensive research is carried out to achieve fuel economy and improve lubricant additive characteristics and properties to comply with technological changes in modern engines and accessories. One of the major factors driving the lubricant additives market is the high growth in developing countries along with the fuel saving efforts. There are few other factors which are driving the growth of the lubricant additives market such as increase in air and sea transportation, improved emission rules in combination with fuel economy standards and growth in the ‘automobile industry. The use of environmentally friendly fuels such as renewable fuels in industrial and automotive engines is expected to drive the demand for lubricant additives over the estimate period. However, longer drain intervals for high quality lubricants are slowing the market growth due to lubrication solutions with lower upkeep and maintenance costs. Additionally, variations in the lubricants market are responsible for the relatively low growth rate of the global lubricant additives market. The European lubricant additives market is illustrated by the presence of a large number of players.

The adoption of strategies such as product launches, mergers and acquisitions by companies enables them to thrive in the market. For example, Italmatch Chemicals is planning to acquire Afton Chemical’s metalworking fluids business, which contributes to further expansion and is beneficial to the former’s portfolio.

Russia accounted for a significant share of the European lubricant additives market:
Among other countries in Europe, Russia accounted for a significant share of the European lubricant additives market. Strict rules imposing an emissions reduction to 95 grams of carbon dioxide per kilometer until the end of 2021 improve the European lubricant additives market. These rules also pushed the use of lubricants to maintain engine efficiency. In addition, lubricants also reduce friction and wear on machinery. These also function as refrigerants and are expected to drive air demand for years to come. Growth in Central and Eastern Europe is there, including the economies of the former USSR, based on improved economic and political stability.

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Competitive Analysis – Lubricant Additives Market in Europe:
The major players working in the European lubricant additives market are Chevron Corp, Afton Chemical Corporation, The Lubrizol Corporation, Infineum International Limited and BASF SE.

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