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Anti-wear Additives Market worth USD 914.8 million by 2028, registering a CAGR of 2.65% - Report by Market Research Future (MRFR)

New York, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Anti-wear Additives Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Anti-wear Additives Market Research Report: Information By Type, By Application, By End-use Industry, By Region - Forecast till 2028” the market is projected to be worth USD 914.8 million by 2028, registering a CAGR of 2.65% during the forecast period (2021 - 2028), The market was valued at USD 798 million in 2020.

Market Competitive Landscape:

The prominent companies in the anti-wear additive market profiled are

  • Chemtura Corporation
  • Evonik
  • Lubrizol
  • Infineum
  • Chevron Oronite
  • Vanderbilt Chemicals
  • Tianhe Chemicals Group
  • Afton Chemical Corporation

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Market Scope:

Anti-wear additives are used in mixed-film and boundary-film lubrication to prevent metal surfaces from wear and loss. Temperature or increased stresses at the contact surfaces activate this package. It works by forming a protective coating that helps to reduce wear. The additives chemically react with the metal surfaces during this transaction to protect them against wear, corrosive acids, and base oil oxidation.

These additives are often made up of zinc and phosphorus compounds, most commonly in the form of zinc dialkyl dithiophosphate (ZDDP). During boundary film and mixed-film lubrication, anti-wear additives reduce wear and loss of metal surfaces. It is activated by increasing temperature or pressure at the contact surfaces, producing a protective layer to minimize wear. Anti-wear additives react chemically with metal contact surfaces to protect them against corrosive acids, wear, and base oil oxidation.

Market USP Covered:

Market Drivers:

Surging demand for anti-wear additives across various end-user sectors, particularly automotive industries, is one of the primary drivers driving the market growth. Due to its substantial usage in gearboxes for the protection of its metal surfaces, increasing automotive production with a growing fleet of vehicles is propelling market expansion. Their expansion is credited with the continued usage of anti-wear additives in end-use industries such as metallurgy, construction, and others. The expanding construction sector in emerging economies is likely to provide market participants with an opportunity to develop and introduce new anti-wear additive solutions, bolstering their market position.

Browse In-depth Market Research Report (185 pages) on Anti-wear Additives

Market Restraints

Various laws aimed at reducing greenhouse gas emissions are estimated to negatively impact the market's growth in the forecast period.

COVID 19 Analysis

The COVID-19 epidemic has resulted in a regional lockdown, border restrictions, and the breakdown of transportation networks. This is predicted to have a considerable impact on global chemicals and materials supply chains, global trade, and manufacturing capacities. The production facilities have been severely disrupted as a result of the global shutdown. Additionally, border closures and export limits have caused raw material prices and supply to fluctuate, affecting the manufacturing of anti-wear additives significantly. Some market participants stockpile raw materials as part of their comprehensive business continuity plans to avoid production delays. Recently, in automotive, heavy-duty, agricultural, marine, and industrial gear oils, Rislone has introduced a new treatment ingredient that is aimed to increase gear system life by halting leaks, decreasing noise, and enhancing gear performance. With a specific blend of new ingredients, Rislone Gear Repair is developed to revive the gear fluid. Seal conditioners in the formula preserve and recondition seals, while extreme pressure anti-wear chemicals reduce noise and gear temperatures by providing superior metal-to-metal wear prevention.

Market Segmentation

By Type, the zinc dialkyl dithiophosphate lubricant additives (ZDDP) segment is reported to have a largest market share in the duration of the forecast period.

By application, the engine oil reported for an important anti-wear additive market share in 2019 in terms of volume.

By end-use industry, the automotive end-use industry segment accounted for the largest market share in 2019 and is one of the fastest-growing segments in the course of the forecast period.

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Regional Insights

The increase of building activities in the North American region is fueling the market's growth. For instance, products such as Delo Syn ATF 668, a totally synthetic transmission fluid specifically created for Allison heavy-duty automatic truck and bus transmissions, has been launched by Chevron Products Company, a branch of Chevron U.S.A. Inc. Delo Syn ATF 668 is approved and licensed by Allison for transmissions requiring TES 668 and is backward compatible with TES 389® and TES 295®. It is engineered for longer service life, increased transmission performance, optimal fluid performance, and improved clutch action.

During the projected period, the European market is expected to account for a large part of the global market in terms of value. In 2019, the Asia-Pacific regional market had the biggest market share (almost 35%), and this dominance is expected to continue throughout the projection period. With a growing consumer base and production capacity, Latin America is a high-growth potential automobile market. The automobile industry in the Middle East is expected to drive the Middle East & African regional market. Due to factors such as increased per capita disposable income, rising population, and access to profitable financing options in the region, the business is vibrant and one of the fastest-growing.

Segmentation of Market covered in the research:

Anti-wear Additives Market Research Report: Information By Type (ZDDP, Phosphorus, Other), By Application (Engine Oil, Hydraulic Oil, Metalworking Fluid, Other), By End-use Industry (Automotive, Construction, Other), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) Forecast till 2028

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