What's driving the lubricant additives market
2015-07-15 11:27 Browse:()
Regulations across the globe encourage improved fuel efficiency, health, safety and environmental profiles, driving the market for high-performance lubricant additives used in the automotive, marine, aviation and industrial sectors. For instance, in North America and Western Europe, policies mandating emissions-related testing before the granting of vehicle licenses have spurred frequent servicing, oil changes and the use of higher grade lubricants, thereby fuelling additive sale volumes.
While more expensive and safer lubricant additives boost revenue growth in North America and Western Europe, Asia-Pacific markets will see high volume growth of conventional additives.