Global Extreme Pressure Additives Market size was valued US$ xx Mn. in 2019 and the total revenue is expected to grow about CAGR xx% from 2020 to 2027, reaching nearly US$ xx Mn.
Global Extreme Pressure Additives Market
Extreme pressure additives are used in lubricants to decrease wear and tear of the parts of the gearboxes, automotive engines, and hydraulic units, which are exposed to very high pressures. The additive is added to cutting fluids for machining metals. The additives contain phosphorus, organic sulfur, and chlorine compounds to react during the high-pressure conditions. The rise in demand for automotive and high-performance lubricating oil across the world is driving the market growth in the forecasted period. The commercial sector is mainly propelling market growth in terms of volume. The highly reactive metal surfaces may hamper the global extreme pressure additives market growth over the forecast period.
By type, the global extreme pressure additives market is segmented into chlorinated paraffin, sulfurized fats, and others. The sulfurized fats segment is expected to grow at a CAGR of xx% during the forecast period. The sulfurized fats are more chemically reactive and highly effective on metal than other additives.
By application, the global extreme pressure additives market is segmented into Automotive and Iron and Steel. The automotive segment led to the global extreme pressure additives market in 2019. Thanks to the application in automotive-like gearbox lubrication, engine oil, and the hydraulic unit require extreme pressure additives for proper functioning under heavy pressure. The automotive segment is expected to drive the global extreme pressure additives market at xx% CAGR over the forecasted period.
Global Extreme Pressure Additives Market: Drivers
The extreme pressure additives market is driven by the increasing global demand and production of a passenger vehicle. The passenger vehicle segment is growing at CAGR xx%. The automotive industry is also experiencing good growth, especially in countries like the US, Mexico, and the United Kingdom.
The automobile users are demanding more performing engines, which are driving the demand for Extreme Pressure Additives. The lightweight and high-performing engine experience high pressure and may lead to wear easily so, it requires specialized lubrication to bear the extreme pressure condition, which will drive the market growth. New development in vehicle lubrication technology is creating new opportunities for the global extreme pressure additives market.
Global Extreme Pressure Additives Market1
By region, Asia Pacific held a dominant position in the extreme pressure additives market and is expected to continue dominance in the forecasted period. Industrial growth in countries like India, China, and South Korea are expected to fuel the market demand for metal cutting fluids and metalworking fluid in the near future. Extreme pressure additives are mainly used for providing lubricating and anti-friction properties. The development of the automotive sector and the industrial sector in China and India by the increase in government initiatives are expected to propel the extreme pressure additives market. North America and Europe are expected to show moderate growth during the forecast period. The presence of major lubricant manufacturers in these regions are driving market growth.
The objective of the report is to present a comprehensive analysis of the Global extreme pressure additives Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Extreme Pressure Additives Market dynamics, structure by analyzing the market segments and projects the Extreme Pressure Additives Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Extreme Pressure Additives Market make the report investor’s guide.
Scope of the Extreme Pressure Additives Market
Extreme Pressure Additives Market, by Type
• Chlorinated Paraffin
• Sulphurized Fats
• Other Type
Extreme Pressure Additives Market, by Application
• Iron and Steel
Extreme Pressure Additives Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in Extreme Pressure Additives Market
• Afton Chemical
• Chevron Oronite
• Evonik Industries
• BRB International
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