Global Lubricating Oil Additives Market Growing Demand Worth USD 23.24 Billion in 2032
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Market Size – USD 41.12 Billion in 2022, Market Growth – at a CAGR of 5.1%, Market Trends – Increasing number of innovative products based on LLDPE
VANCOUVER, BRITISH COLUMBIA, CANADA, May 16, 2023 /EINPresswire.com/ -- The global Linear Low-Density Polyethylene (LLDPE) market size reached USD 41.12 Billion in 2022 and is expected to register a revenue CAGR of 5.1% during the forecast period, according to latest analysis by Emergen Research. Rising demand for LLDPE from packaging sector is one of the key factors driving revenue growth of the Linear Low-Density Polyethylene (LLDPE) market.
Growing number of partnerships is also contributing to revenue growth of the market. On 6 March 2023, Charter Next Generation (CNG) and Revolution Sustainable Solutions, LLC partnered to promote the use of Post-Consumer Recycled, Linear Low-Density Polyethylene (PCR-LLDPE) in food and flexible packaging applications, which is commercially available. This collaboration is expected to prove a significant achievement for companies seeking to incorporate post-consumer recycled content in food contact packaging solutions.
Another driver of the Lubricating Oil Additives market is the technological advancements in the field. The development of new and innovative additives, such as friction modifiers, viscosity index improvers, and detergents, has improved the performance and efficiency of lubricants, thereby driving the growth of the market.
The latest report is updated with the impact analysis of the current COVID-19 pandemic on the market. The rapidly changing dynamics of the market and current and future growth potential of the market are covered in the report. The report offers crucial information about the initial and future assessment of the impact of the COVID-19 crisis on the overall market.
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Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with the product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share.
The major companies studied in the report include:
BASF SE, Chevron Oronite Company LLC, The Lubrizol Corporation, Afton Chemical, Evonik, LANXESS, Croda International Plc, Infineum International Limited, ADEKA CORPORATION, BRB International
The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Some Key Highlights From the Report
The solution-phase segment is expected to register a significantly fast revenue growth rate over the forecast period. The solution-phase procedure is advantageous in the manufacture of LLDPE because it produces a more uniform product with increased transparency, stiffness, and strength.
The films segment accounted for a comparatively larger revenue share in 2022. LLDPE is a plastic material that is commonly used to make thin films with better properties such as elongation, impact resistance, penetration resistance, and tearability. It is suitable for a wide range of applications, including molding production, pipe and sheet extrusion, and anti-leakage mulch film for garbage dumps.
The building & construction segment is expected to register a significantly fast revenue growth rate over the forecast period. Provision of superior mechanical and chemical qualities, LLDPE has several uses in the building sector as it is increasingly used in the manufacture of geomembranes, which are impermeable liners put in landfills, ponds, and other structures to prevent leakage and pollution of the surrounding environment. LLDPE geomembranes are manufactured from virgin polyethylene resins, which provide flexibility, Ultraviolet (UV) resistance, and durability, as well as cost-effectiveness and longevity.
Market in Asia Pacific is expected to register a significantly fast revenue growth rate over the forecast period. An increase in the development of infrastructures and smart cities is one of the key factors driving revenue growth of the market in this region. Asia Pacific is expected to account for USD 2.5 trillion of growth in construction output between 2020 and 2030, up by over 50% to become a US D 7.4 trillion market by 2030.
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Along with these details, the report also covers the segmentation of the market based on types, applications, end-user industry, and others. Analysis of each market segment, along with projections up to , is offered in the report. The report includes profitability, gross margins, global demand, sales volume, and growth prospects of each market segment.
Based on Type, the market is segmented into:
Type Outlook (Revenue, USD Billion; 2019–2032)
Viscosity Index Improvers
Dispersants
Detergents
Anti-Oxidants
Anti-Wear Agent
Rust & Corrosion Inhibitors
Friction Modifiers
Extreme Pressure Additives
Pour Point Depressants
Others
Application Outlook (Revenue, USD Billion; 2019–2032)
Engine Oil
Hydraulic Fluid
Gear Oil
Metalworking Fluids
Transmission Fluids
Grease
Compressor Oil
Others
Sector Outlook (Revenue, USD Billion; 2019–2032)
Automotive
Industrial
Regional Segmentation:
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is New Additions in 2023?
Market Presence Across Multiple Geographies
Greater emphasis on data privacy and security
Online Interactive Peer-to-Peer Collaborative Bespoke Updates Edition
Detailed industry outlook
Additional information on company players
Customized report and analyst support on request
Recent market developments and it’s futuristic growth opportunities
Customized regional/country reports as per request
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