Increasing preference for multi-grade oils in European and North American markets
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global polymethacrylate market in VII and PPD in their latest research report. This report also lists four other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of polymethacrylate in viscosity index improvers (VII) and pour-point depressants (PPD) markets.
This Technavio report, under the specialty chemicals vertical, is based on the synthesis, analysis, and interpretation of information about the global polymethacrylate market in VII and PPD collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global polymethacrylate market for VII and PPD is currently dominated by a few prominent vendors. However, there has been an influx in the number of local players who manufacture motor oils through various cheaper production processes. Easy access to manufacturing technology makes it easy for new players to venture in the polymethacrylate market for VII and PPD market space. The scope for differentiation is limited owing to the increasing commoditization of lubricants. As a result, vendors in the market compete on the basis of distribution and reach in an attempt to keep pace with the competitive market.
“Multi-grade oils are increasingly preferred due to their better cold pump-ability, especially in Europe and North America. This is primarily due to the harsh winters faced by many European and North Americas countries which leads to a delayed engine start-up procedure. Multi-grade oils perform better in cold temperatures wherein they reduce the lead start-up time. The need for protection of the engine from cold weather and improved mileage is prompting many consumers to switch to multi-grade oils,” says Ajay Adikhari, a lead analyst at Technavio for research on specialty chemicals.
Top five vendors in the polymethacrylate in VII and PPD market space
Afton Chemical
Afton Chemical operates as a subsidiary of Newmarket. The company offers petroleum additives that enhance the performance of lubricating fuels and oils. Afton Chemical produces market-general additive components and custom-formulated chemical blends. HiTEC, Greenburn, and TecGARD are some of its noteworthy brands.
Key products: HiTEC 5751, HiTEC 5777, HiTEC 7389, HiTEC 5710, HiTEC 5788, and HiTEC 5714.
Lubrizol
Lubrizol’s product offerings include specialty chemicals. The company serves customers in more than 100 countries across the globe. The company operates and owns manufacturing facilities in 17 countries, and has technical and sales offices worldwide. Lubrizol supplies and produces technologies to customers in the industrial, transportation, and consumer markets. In FY2015, the company generated $7 billion in revenue.
Some key products: Heavy-duty engine oils, Passenger car engine oils, Marine engine oils, Motorcycle engine oils, Power tool engine oils, Stationary gas engine oils, Recreational equipment engine oils, Marine fuel, Building and construction products, Plastics and fiberglass, Material solutions, etc.
Chevron Oronite
Chevron Oronite is a manufacturer of quality additives that can improve the performance of fuels and lubricants. A subsidiary of Chevron Corp, the company operates seven manufacturing sites worldwide. The company has manufacturing plants, research laboratories, or blended research centers across 10 locations globally. In 2014, it completed the expansion projects at its manufacturing facilities in Gonfreville in France and Singapore. Chevron Oronite’s main facilities are supplemented by regional plants in Mexico, Brazil, Japan, and India. The company operates R&D facilities at Richmond, California, the US; Omaezaki, Japan; Gonfreville, France; and Rotterdam, Netherlands.
Key products: PC-11, OLOA 61005, OLOA 54050, OLOA 55501, OLOA 55503, GF-6, OLOA 22020 and OLOA 22021.
Evonik Industries
Evonik Industries manufactures specialty chemicals for the automotive, construction, electronics, agriculture, food, mining, oil and gas and several other industries. The company operates through three key business segments which include nutrition and care, resource efficiency, and performance materials. Under its consumer, health, and nutrition segment, the company produces specialty chemicals used in animal nutrition, consumer goods, and healthcare products.
Key products: High-performance materials based on methyl methacrylate, polyetheretherketone and polyimides, and Advanced intermediates such as C4 products, oxo alcohols, and plasticizers.
Infineum
Infineum offers a range of lubricant additives for heavy-duty diesel, automotive, and marine engines. In April, 2015, the company collaborated with Singaporean universities such as National University of Singapore and Nanyang Technological University to offer two new scholarships valued at up to $200,00 million for the next five years.
Key products: Passenger car motor oils, Heavy-duty diesel engine oils, Small engine oils, Gas engine oils, Marine oils, Fuels, Transmission fluids, Components and PPDs, and Viscosity modifiers.
Other prominent vendors in this market include Amtecol, Croda, Jinzhou Kangtai, and MidContinental Chemical Company.
A more detailed analysis is available in the Technavio report, ‘Global Polymethacrylate Market in VII and PPD 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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Browse related reports:
- Global Lubricant Viscosity Improvers Market 2015-2019
- Global Polymer Based Solubility Enhancement Excipients Market for OSDF 2015-2019
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