ALBANY, N.Y., May 26, 2021 /PRNewswire/ — The automotive industry has observed tremendous advancements over the years. With the advancements in the automotive industry, the quality and build of the engines used in the vehicles have also evolved at a rapid rate. The utilization of various additives and formulations in engine oils to increase the engine’s shelf life and efficiency has swelled in popularity. All these aspects will serve as good growth opportunities for the ZDDP additives market across the assessment period of 2019-2027.
Zinc Dialkyl Dithiophosphate (ZDDP) is a mixture of zinc and phosphorous that is commonly used as an additive to engine oils. It is a compound that is vitally used as an antiwear additive in automotive engine oils. It helps in avoiding surface micro-welding and wear and tear caused due to consistent metal to metal contact. The additives have a large number of benefits that make them appealing to the end-users. All these factors bode well for the growth of the ZDDP additives market.
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The analysts at Transparency Market Research (TMR) have estimated the ZDDP additives market to expand at a CAGR of 1.6 percent during the forecast period of 2019-2027. The global ZDDP additives market stood at a valuation of US$ 2,760.1 mn in 2018 and is prognosticated to reach US$ 3,183.8 mn by 2027, the end year of the forecast period.
The thriving automotive industry will bring extensive growth opportunities for the ZDDP additives market. The growing disposable income and the rising urbanization levels have led to an increase in the sales of automobiles to a considerable extent. These aspects will serve as vital growth contributors to the ZDDP additives market. Furthermore, the use of ZDDP additives in combination with other additives such as detergents, acid neutralizers, and dispersants will also bring profitable growth for the ZDDP additives market.
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Key Findings of the Report
Stringent Regulations Relating to Check Emission Levels to Bring Promising Growth for the ZDDP Additives Market
The government bodies of numerous countries have imposed strict regulations regarding emissions. ZDDP additives help in improving the quality of the engine and enable fewer emissions. Various countries have pledged to keep emission levels in check because of the growing concerns regarding enormous pollution levels. These factors will have a positive impact on the growth of the ZDDP additives market.
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Overwhelming Benefits Attached to ZDDP Additives will Bring Immense Growth Prospects
ZDDP additives have a variety of advantages that prove to be growth pillars for the market. The additives serve as a barrier against moisture to eliminate rust formation. The anti-wear properties of ZDDP additives also make them one of the most preferred options for end-users. The additives also serve as oxidation inhibitors. Oxidation can be described as the process of aging of a lubricant.
The oxidation process downgrades the properties of the lubricant. ZDDP additives slow down the oxidation process and assure a good shelf life for the lubricants. All these factors bring exponential growth for the ZDDP additives market.
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ZDDP Additives Market: Key Players
A massive number of players contribute largely to the growth of the ZDDP additives market. Some well-established players in the ZDDP additives market are:
- ZPlus, LLC
- Prasol Chemicals Pvt. Ltd.
- The Lubrizol Corporation
- Rislone CamGuard
- Chevron Oronite Company LLC
- Mukund Anderson Inc
- AMSOIL
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