Research On: Lubricating Oil Additives Market 2021-2027 By Top Key Players, Types, Applications & Forecast
Regional Analysis The global lubricating oil additives market has been divided into five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global lubricating oil additives market in 2017. This can be attributed to rapid industrialization and urbanization in the region, coupled with the increasing population. In addition, rising fuel prices are necessitating efficient and economic engines, thus increasing the demand for lubricant additives in the automotive sector. Furthermore, developing economies such as China, India, and Indonesia are emerging as major industrial hubs, driving the demand for engine oils, compressor and turbine oils, and grease oils in industrial applications. This is expected to further drive market growth during the review period. North America and Europe are the other major markets for lubricating oil additives. North America accounted for the second-highest