Evolution of Electric Vehicles Transforming the Global Automotive Lubricants Industry – GlobeNewswire

New York, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Evolution of Electric Vehicles Transforming the Global Automotive Lubricants Industry" - https://www.reportlinker.com/p06025970/?utm_source=GNW The key end-user segments covered in this study are passenger car motor oils (PCMO) and heavy-duty diesel oils (HDDO).

The study analyzes two major vertical markets: lubricant additives and base oils. The major additive types used in these products are detergents, dispersants, antioxidants, viscosity index improvers (VIIs), and pour-point depressants (PPDs).

The trend of the use of various base-oil groups Group I (<90% saturates, >0.03% sulfur, 80-120 viscosity index (only mineral oils)), Group II (?90% saturates, ?0.03% sulfur, 80-120 viscosity index (only mineral oils)) and Group III (?90% saturates, ?0.03% sulfur, ?120 viscosity index (Includes synthetic oils and other oils)) is analyzed. Lubricants are selected for a vehicle based on a variety of requirements such as durability, emission levels, length of drain intervals, and ability to improve fuel efficiency. The requirements vary depending on the customer preferences, global and regional regulatory landscape, and the brand and model of the vehicle. This report tracks the industrys transformation and seeks to identify future opportunities that exist for lubricant manufacturers. The study analyses the change in the product landscape because of the high growth of electric vehicles (EVs) and variants in the automotive industry. The market for automotive lubricants and additives is greatly impacted by other Mega Trends such as the Covid-19 pandemic, changing international trade relationships, sustainability targets adopted by governments and regulatory authorities, and the miles driven by end customers around the world. The competitive environment in the lubricant additives market is highly skewed towards the larger market participants because of the high entry barrier for new entrants due to the significant amount of capital expenditure required. On the other hand, the finished lubricants market is highly fragmented amongst the smaller participants, while the major share of the market is held by a few global companies. The automotive lubricants and additives face regulatory pressure from organizations such as the US Environmental Protection Agency (US EPA) and REACH that mandate the use of products with reduced emissions. They are also mandated to adhere to the specifications put forth by organizations such as the American Petroleum Institute (API), International Lubricants Standardization and Approval Committee (ILSAC), Japan Automobile Manufacturers Association (JAMA), and the European Automobile Manufacturers Association (ACEA). There is an increasing trend of customers demanding lower viscosity oils that also provide for higher drain intervals between oil changes. Manufacturers are increasingly investing in product development to enhance environmental sustainability and product efficiency. The research analyzes the global automotive lubricants and additives market. Volume and revenue forecasts have been provided from 2017 to 2027. At the sub-segment level, the analysis focuses on the additive types and base-oil groups used in these products. Competitive structure and market share data have been provided at the top level. The base year is 2020 and the forecast period ends in 2027.Author: Christeena ThomasRead the full report: https://www.reportlinker.com/p06025970/?utm_source=GNW

About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

View post:

Evolution of Electric Vehicles Transforming the Global Automotive Lubricants Industry - GlobeNewswire