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The ability to perform well at high temperatures is extremely crucial for grease additives to be used for different end-user applications. This requirement has augmented the demand for complex soap-based greases as they perform well in different temperature ranges compared to simple soap-based greases. Grease additives influence energy efficiency by reducing the energy losses in engines due to friction in hydrodynamic, lubrication regimes, and elasto-hydrodynamics. The increased adoption of energy-efficient measures through friction modification and viscosity optimization are acting as an effective driver of the global grease additives market. The market is witnessing the use of high-performing biodegradable greases and their additives, which are either vegetable oil-based or based on synthetic esters. These greases do not release harmful residues after use and degrade sooner than the mineral-based alternatives. Moreover, the manufacture of biodegradable greases complies with the regulatory and environmental guidelines and also help in improved profit margins on account of the sales of value-added products. Technavio’s market research analyst predicts the global grease additives market to grow at a sluggish CAGR of 2% by 2020.
APAC is the largest revenue contributing region in the grease additives market and is likely to occupy more than 51% of the total market share by 2020. The automotive industry is the major contributor to the market in the region due to the growing population as well as the demand for automobiles in the region. The improvement in engine technologies and growing demand for fuel-efficient cars with reduced emissions are some of the major factors boosting the demand for grease additives in APAC.
The market is primarily dominated by the key vendors. Intense competition prevails in the market which has resulted in increased consolidation by the major vendors who are acquiring smaller vendors. However, in recent years, there has been a consistent rise in the number of local players that manufacture grease additives through different cost-effective production processes. The entry of new players in the market is high as they have easy access to the manufacturing technology. The market will also witness the influx of private labels during the forecast period.
Leading vendors in the market are -
The extreme pressure (EP) additives segment dominated the grease additives market during 2015 and accounted for around 38% of the total market share. A number of EP additives are used in greases including metal dithiocarbamates, sulfurized olefins, chlorinated paraffin, sulfurized esters, and other sulfur-phosphorous materials. These additives mainly act as friction modifiers and show improved performance when used in combination with specific soap-based thickening agents.
The automotive industry is the largest end-user of grease additives and accounted for around 60% of the total market share in 2015. Grease additives are used in passenger car motor oil (PCMO), heavy-duty motor oil (HDMO), automatic transmission fluids, automotive gear oils, and tractor hydraulic fluids. HDMO is the largest application area of grease additives in automobiles followed by PCMO. The main purpose of using additives in HDMO is to reduce friction and wear and tear of the moving engine's crankshaft, connecting rods, bearings, and pistons.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by function class
PART 07: Market segmentation by thickening agent
PART 08: Market segmentation by end-user
PART 09: Market segmentation by geography
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: Explore Technavio
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