LONDON--Technavio has announced the top five leading vendors in their recent global grease additives market report. To calculate the market size, the report considers the consumption volume of grease additives by different end-users for multiple applications across geographies.
In terms of consumption, the global grease additives market was 91.4 kilotons in 2015 and is expected to increase to 101.3 kilotons by 2020, growing at a CAGR of 2.07%. The global consumption of greases was around 1,310.1 kilotons in 2015, and the consumption was mainly for both automotive as well as industrial applications. Asia itself accounted for more than half of the volume of greases and grease additives consumed in the global market in the same year.
The consumption of additives includes both active component and diluent oil. The extreme pressure (EP) additives segment is the major contributor to the market. The use of additives for soap-based and non-soap-based greases differ due to the additive compositions along with different thickener compositions.
Competitive vendor landscape
The global grease additives market is dominated by Afton Chemical, BASF, Clariant, Lubrizol, and Innospec. However, there has been a consistent rise in the number of local players that manufacture grease additives through different cost-effective production processes.
“The increasing competition and declining profit margins constitute significant risk factors for vendors in their operations. With increased competition, the market has been witnessing consolidation, where the smaller entities are being acquired by or merged with major players. In addition, there is an influx of private labels in the market,” says Ajay Adikhari, a lead additives, adhesives, and sealants analyst from Technavio.
The entry barriers are not significantly high for new players in the market as they have easy access to the manufacturing technology. With the increasing commoditization of grease additives, the scope for differentiation is becoming limited. Vendors therefore primarily compete in terms of distribution and reach to ensure maximum reach of their products.
Request a sample report: http://www.technavio.com/request-a-sample?report=52482
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Top five grease additives market vendors
Under the driveline additives segment, Afton Chemical offers additives for automatic transmissions, continuously variable transmissions, and dual clutch transmissions. It also offers automotive gear oil additives and off-road vehicle additives (such as STOU additives for vehicles used by the agricultural sector and high-performance additives for vehicles used by the construction and mining industries), and power-assisted steering. Some of its product models include HiTEC 1509, HiTEC 3411, HiTEC 8703, and HiTEC 2435.
BASF offers a comprehensive range of additives that are required to formulate high-quality solutions, including metal deactivators, antioxidants, pour point depressants, antiwear additives, corrosion inhibitors, and viscosity modifiers.
The chemicals segment is classified into three sub-divisions: petrochemicals, monomers, and intermediates. Its key offerings include solvents, plasticizers, high-volume monomers, glues, electronic chemicals, and raw materials for textile fibers, paints and coatings, detergents, plastics, plant protection, and pharmaceuticals.
Clariant manufactures and markets specialty chemicals across APAC, EMEA, and North America. The company widely caters to the additives market by providing a range of biofuel, fuel, terminal fuel, and refinery process additives.
With an aim to expand its additives segment, the company announced the launch of Licocene on April 22, 2015. Licocene is designed to meet the needs of formulators who design hot melts and provides a balance between cohesion and adhesion for hot melt adhesives.
Lubrizol has established its presence in the additives, adhesives, and sealants sector with its offerings through its business segments called Lubrizol additives, Lubrizol advanced materials, and Lubrizol oilfield solutions.
Lubrizol additives: Supplies chemical additive technologies that include additives for engine oils, driveline, and other transportation-related fluids, and industrial lubricants, and also additives for gasoline and diesel.
Innospec is headquartered in Englewood, Colorado, US. The company is a developer, manufacturer, marketer, and supplier of fuel additives, personal care and fragrance ingredients, oilfield chemicals, and other specialty chemicals. It supplies its products primarily to oil and gas companies, personal care and fragrance companies, oil refineries, and other chemical and industrial companies.
All product names, brands and trademarks are the property of their respective owners.
Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact firstname.lastname@example.org with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.