LUBRICANT ADDITIVES MARKET TO FLOURISH
September 03, 2014 at 10:21 AM
According to figures published by ‘Research and Markets’, the world's largest and most Market Research resource, the lubricant additives sector is expected to grow at a CAGR of 2.7%, by value, over the next five years, to reach $16.2 billion by 2019. New research from Frost & Sullivan’s ‘Strategic Analysis of the Global Lubricant Additives Market’ finds that the market earned revenues of $11.77 billion in 2013.
While revenue growth in North America and Western Europe has been boosted, Asia-Pacific will experience the highest growth in demand from 2014 to 2019. The major driving factors of the market are the emerging economies in the region, which accounts for nearly 30% of lubricant additive demand, fuelled by the growing construction, manufacturing, and automobile industries.
As a market leader in the formulation, blending and distribution of high value fuel and lubricant additives, base oils and speciality chemicals, Multisol’s customers range from global technology leaders and multinational petrochemical companies to regional and local industrial businesses and fuel and lubricant end users.
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