Future Market Insights
Internal combustion engines are the primary power generating apparatus housed in an automobile. These engines run largely on four stroke principle, which makes it possible for lubricants to be accommodated in the sealed crankcase, wherein it is agitated continuously by the rotating crankshaft. Automotive crankcase additives are active chemical substances infused in the crankcase oil in order to achieve various desirable advantages from the engine, including, but not limited to improved performance, engine efficiency, emission control, control of contaminants and improve overall lubricating properties of the engine oil. Two stroke engines, which are largely being phased out, also utilize the potential of automotive crankcase additives but its chemical composition differs slightly from the four stroke engine crankcase additives as the substances are directly mixed into the fuel within the crankcase. The prices of the automotive crankcase additives were not affected much owing to the decrease in oil prices since the latter half of 2014, proving that the market of automotive crankcase additives is growing strong in the automotive industry. The prices of the raw materials required to synthesize automotive crankcase additives is on par and consistent without much fluctuations, offering healthy prospects and less hindrances in the growth of the market.
Automotive Crankcase Additives Market Dynamics
With the growing number of automobiles for both personal and commercial uses, the market for the automotive crankcase additives grows hand in hand with vehicle production and is projected to grow on a positive scale in the upcoming years. Vehicles have become more of a commodity than a luxury product owing to higher disposable incomes of the consumers leading to higher demand for automobiles thereby directly influencing the growth of automotive crankcase additives market. As the Governments of various countries strive for curbing vehicle emissions for a sustainable future, the importance of automotive crankcase additives is further augmented as these substances greatly help in reducing tailpipe emissions, strengthening the sustenance of the product in the market even further. One of the major hindrances that can affect the automotive crankcase market is the emergence of Hybrid Vehicles (HVs) and Electric Vehicles (EVs), which function primarily on stored electric power and less on Internal Combustion Engines, leading to less reliance on engines, thereby affecting the market.
Automotive Crankcase Additives Market: Segmentation
Automotive Crankcase AdditivesMarket can be segmented as follows;
By vehicle type, the automotive crankcase additives market can be segmented as:
Light Commercial vehicles
Heavy Commercial vehicles
By engine type, the automotive crankcase additives market can be segmented as:
Others (Natural Gas, etc.)
By product type, the automotive crankcase additives market can be segmented as:
Pour Point Depressants
Viscosity Index Improvers (VII)
Extreme Pressure (EP) Additives
Others (Emulsifiers, etc.)
Automotive Crankcase Additives Market: Regional Outlook
In Asia Pacific region, the number of vehicles produced per year in China and India are higher than the numbers attained by major manufacturers in the Western Europe and North America regions. Vehicle production in these countries is steadily growing on a yearly basis. This factor along with large number of two wheelers in the Asiatic region contribute positively to the automotive crankcase additives market and is expected to expand even further in the upcoming years.
Automotive Crankcase Additives Market: Market Participants
Examples of some of the major players in the Global Automotive Crankcase Additives market, identified across the value chain include:
ABRO Industries, Inc.
Afton Chemical Corporation
Evonik Industries AG
The Lubrizol Corporation
Croda International Plc
The Armor All/STP Products Company
Brenntag Holding GmbH
Royal Dutch Shell plc
Vanderbilt Chemicals, LLC
Petroleum Chemicals, LLC
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