Diesel Lubricity Improver Market Outlook
According to the report by Expert Market Research (EMR), “The Global Diesel Lubricity Improver Market Size, Share, Analysis, Report and Forecast 2024-2032″,the global diesel lubricity improver market reached a value of USD 2.94 billion in 2023. Aided by the escalating demand for efficient and clean fuel technologies and the growing applications of diesel lubricity improvers across multiple sectors, the market is projected to further grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of USD 4.04 billion by 2032.
Diesel lubricity improvers are additives used to enhance the lubricating properties of diesel fuels, which can lead to reduced wear and tear in fuel injection systems. The use of these additives has become increasingly essential due to the introduction of low-sulphur diesel fuels that inherently have lower lubricating properties.
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The global drive towards cleaner and more efficient fuel technologies is a significant factor driving the diesel lubricity improver market growth. As governments and regulatory bodies worldwide impose stricter regulations on sulphur emissions, there is a growing demand for low-sulphur diesel fuels. This trend has led to an increase in the need for diesel lubricity improvers, which are used to compensate for the reduction in the natural lubricity of diesel caused by sulphur removal.
In addition to this, the rising global transportation needs have led to an increase in diesel consumption, thereby boosting the diesel lubricity improver market expansion. With more vehicles on the roads and a surge in freight and logistics activities, there is a growing need for efficient and durable fuel systems, further fuelling the demand for diesel lubricity improvers.
Furthermore, diesel lubricity improvers find applications in various industries beyond transportation, such as in the manufacturing and marine sectors. In these industries, diesel engines and fuel systems play a vital role, and maintaining their efficiency and longevity is of utmost importance, thereby creating a robust diesel lubricity improver market demand.
The growing focus on research and development activities in the field of fuel additives also contributes to the expansion of market. New and improved formulations of diesel lubricity improvers are being developed, offering superior lubricity enhancement and compatibility with various types of diesel fuels.
Geographically, the Asia-Pacific region dominates the global diesel lubricity improver market, driven by the rapid industrialisation and growth of the transportation sector in the region. However, North America and Europe are also expected to witness significant growth, spurred by stringent environmental regulations and the increasing adoption of clean fuel technologies.
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Diesel Lubricity Improver Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Acidic Lubricity Improver
- Non-Acidic Lubricity Improver
Market Breakup by Application
- Automobile
- Agriculture
- Manufacturing
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Diesel Lubricity Improver Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global diesel lubricity improver companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Dow Inc.
- TotalEnergies SE
- BASF SE
- The Lubrizol Corporation
- Innospec Inc.
- Chevron Corporation
- Dorf Ketal Chemicals
- Huntsman International LLC
- Baker Hughes Company
- Liqui Moli
- Ecolab (Nalco Champion)
- Others
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