Lubricant Antioxidants Market Projected to Experience Major Revenue Boost during the Period between 2018 - 2028
Verfasser: ashwani_kailiya on Thursday, 25 April 2019The US$ 1.6 billion lubricant antioxidants market is likely to witness 3% y-o-y in 2019, opines a new study by Fact.MR. Gains are likely to be driven by growing applications of lubricant antioxidants in various industrial sectors, especially automotive and transportation. The study remains bullish on growing demand for lubricant antioxidants in East Asia, with China leading the rally.
The Fact.MR study finds East Asian countries, including China, Japan, and South Korea, account for around one-fourth revenue share of the global market. Demand for lubricant antioxidants from these three East Asian countries was valued at nearly US$ 435 million in 2018. A strong automotive industry, combined with growing investment in high-quality lubricants is likely to sustain market growth in East Asia.
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The use of zinc dialkyldithiophosphates (ZDDPs) in gasoline or diesel engine oils and automotive lubricants has plummeted significantly over the past few years. Lubricant antioxidants have emerged as an efficient alternative to ZDDPs in automotive lubricants. These developments, the study opines, will push demand for aminic and phenolic antioxidants in 2019 and beyond.