Technavio
has announced the top five leading vendors in their recent global
grease additives market report. To calculate the market
size, the report considers the consumption volume of grease additives by
different end-users for multiple applications across geographies.
In terms of consumption, the global grease additives market was 91.4
kilotons in 2015 and is expected to increase to 101.3 kilotons by 2020,
growing at a CAGR of 2.07%. The global consumption of greases was around
1,310.1 kilotons in 2015, and the consumption was mainly for both
automotive as well as industrial applications. Asia itself accounted for
more than half of the volume of greases and grease additives consumed in
the global market in the same year.
The consumption of additives includes both active component
and diluent oil. The extreme pressure (EP) additives
segment is the major contributor to the market. The use of additives for
soap-based and non-soap-based greases differ due to the additive
compositions along with different thickener compositions.
Competitive vendor landscape
The global grease additives market is dominated by Afton
Chemical, BASF, Clariant, Lubrizol, and Innospec. However, there has
been a consistent rise in the number of local players that manufacture
grease additives through different cost-effective production processes.
“The increasing competition and declining profit margins constitute
significant risk factors for vendors in their operations. With increased
competition, the market has been witnessing consolidation, where the
smaller entities are being acquired by or merged with major players. In
addition, there is an influx of private labels in the market,” says
Ajay Adikhari, a lead additives,
adhesives, and sealants analyst from Technavio.
The entry barriers are not significantly high for new players in the
market as they have easy access to the manufacturing technology. With
the increasing commoditization of grease additives, the scope for
differentiation is becoming limited. Vendors therefore primarily compete
in terms of distribution and reach to ensure maximum reach of their
products.
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Top five grease additives market vendors
Afton Chemical
Under the driveline additives segment, Afton Chemical offers additives
for automatic transmissions, continuously variable transmissions, and
dual clutch transmissions. It also offers automotive gear oil additives
and off-road vehicle additives (such as STOU additives for vehicles used
by the agricultural sector and high-performance additives for vehicles
used by the construction and mining industries), and power-assisted
steering. Some of its product models include HiTEC 1509, HiTEC 3411,
HiTEC 8703, and HiTEC 2435.
BASF
BASF offers a comprehensive range of additives that are required to
formulate high-quality solutions, including metal deactivators,
antioxidants, pour point depressants, antiwear additives, corrosion
inhibitors, and viscosity modifiers.
The chemicals segment is classified into three sub-divisions:
petrochemicals, monomers, and intermediates. Its key offerings include
solvents, plasticizers, high-volume monomers, glues, electronic
chemicals, and raw materials for textile fibers, paints and coatings,
detergents, plastics, plant protection, and pharmaceuticals.
Clariant
Clariant manufactures and markets specialty chemicals across APAC, EMEA,
and North America. The company widely caters to the additives market by
providing a range of biofuel, fuel, terminal fuel, and refinery process
additives.
With an aim to expand its additives segment, the company announced the
launch of Licocene on April 22, 2015. Licocene is designed to meet the
needs of formulators who design hot melts and provides a balance between
cohesion and adhesion for hot melt adhesives.
Lubrizol
Lubrizol has established its presence in the additives, adhesives, and
sealants sector with its offerings through its business segments called
Lubrizol additives, Lubrizol advanced materials, and Lubrizol oilfield
solutions.
Lubrizol additives: Supplies chemical additive technologies that include
additives for engine oils, driveline, and other transportation-related
fluids, and industrial lubricants, and also additives for gasoline and
diesel.
Innospec
Innospec is headquartered in Englewood, Colorado, US. The company is a
developer, manufacturer, marketer, and supplier of fuel additives,
personal care and fragrance ingredients, oilfield chemicals, and other
specialty chemicals. It supplies its products primarily to oil and gas
companies, personal care and fragrance companies, oil refineries, and
other chemical and industrial companies.
All product names, brands and trademarks are the property of their
respective owners.
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Technavio
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obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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