Zinc Dialkyldithiophosphates Additive Market 2018: Share, Competitor Strategy, Industry Trends by Forecast to 2023
Zinc Dialkyldithiophosphates Additive is used in the automotive industry application such as lubricants, greases, corrosion inhibitors, and antioxidants among others. It is extensively used in the lifter bores, camshaft lobes, rod bearings, and main bearings. Thus, the growth in automobile production across the globe is vitally contributing to the growth of the Global Zinc Dialkyldithiophosphates Additive Market.
Market Segmentation
The Global Zinc Dialkyldithiophosphates Additive Market is segmented into product type, application end-use industry, and region. On the basis of the product type, the market is segregated into primary alkyl zinc dialkyldithiophosphates and secondary alkyl zinc dialkyldithiophosphates. On the basis of the application, the global market is segmented into anti-wear additives, corrosion inhibitors, antioxidants, and others. On the basis of the end-user industry, the market is segmented into automotive and industrial. The market by region is further segmented into Asia Pacific, North America, Europe, Latin America, the Middle East and Africa.
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Competitive Analysis
Some of the prominent players operating in the Global Zinc Dialkyldithiophosphates Additive Market are Afton Chemical (U.S.), Chevron Oronite Company LLC (U.S.), Infineum International Limited (Singapore), Chevron Corporation (U.S.), AMSOIL INC (U.S.) The Lubrizol Corporation (U.S.), and Prasol Chemicals Pvt. Ltd (India), Camguard (U.S.), and BASF SE (Germany) among others.
Market Scenario
Among the various end-use segment, the automobile is anticipated to be the largest segment with a market share of above 75% during the forecast period. On the basis of the product type, the market is segmented into primary and secondary Alkyl Zinc Dialkyldithiophosphates. Primary alkyl ZDDP has advantages such as better thermal stability but is less efficient in terms of hydrolytic stability and anti-wear protection. The secondary alkyl ZDDP offers better hydrolytic stability and antiwear protection. Moreover, the secondary alkyl ZDDP additives are extensively used in applications extreme pressure applications.
Regional Analysis
The Global Zinc Dialkyldithiophosphates Additive Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at an expanding CAGR. The developing automobile sector, especially in India, China, and Japan, is anticipated to be the key factor surging the demand in this region. Moreover, the encouraging government regulations along with the availability of cheap raw material and labor has resulted in the shifting of automobile manufacturing hubs into the region further fuelling the market demand for ZDDP additives.
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