Global Lubricant Anti-Wear Agents Market is Projected to Reach USD Billion by 2027, Growing with a CAGR of % From 2020 to 2027.
Published | January 2021
According to BlueWeave Consulting, the Global Lubricant Anti-Wear Agents
Market did reach million in 2019 and is
further anticipated to go as high as USD million by 2027, growing at a CAGR rate of
approx. % during the forecast
time-frame. The Lubricant Anti-Wear agents are additives that are mainly used
to protect the machine parts from the wearing and loss of surface metal when
boundary lubrication takes place. Boundary lubrication happens when the two solid surfaces are so close
together that their surface interactions are monomolecular or multi-molecular
films of lubricants (liquids or gases). The agents chemically react with the
metal surface which is triggered by the temperature of elevated loads at the
contact of the surface; forming a protective film to minimize the wear at the
“Automotive Industry to Hype the Market”
Evident increase and developments taking place in the third world countries have created a larger demand for the vehicular demands in respective regions. Which has led to gigantic sales of commercial as well as passenger vehicles supporting the automotive industry. With that, the demand for Lubricant Anti-Wear Agents has elevated due to extensive usage of automotive, machines, motors, etc. where these lubricants are added with engine oil, transmission oil/ fluid, hydraulic fluid, to avoid interactive & adhesive wear.
“Developing nations to Boost the growth”
The five major emerging countries Brazil, Russia, India, China, and South Africa. Named as BRICS have credited for a large share of the market in market for anti-wear lubricant agents for the projected period. As estimated by the World Bank, about 41 % of the world’s total population resides in BRICS nations, being about 7% greater than G7 countries (Canada, France, Germany, Italy, Japan, United States, and the United Kingdom; therefore, the BRICS are expected to get substantial growth in the automotive market due to higher number of the working population with disposable income.
“APAC region to show a Substantial Growth”
As per the regional analysis, the Asia Pacific is anticipated to dominate the rest of the regions; due to the given increase in the automotive industry’s growth along with rapid industrialization taking place. The market for the lubricant anti-wear will flourish with respect to volume as well as value, moreover, the elevated GDP of the given region would fuel this growth in the projected time frame.
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