Automotive Engine Oil Market | Industry Growth, Size, Share, Trends, Segmentation and Analysis Forecast to 2019 - 2025
Automotive Engine Oil Market : Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024 – Increasing demand for automobiles in developing countries is the driving factor of automotive engine oil market. Automotive Engine Oil Market is valued at USD 6062.57 Million in 2017 and expected to reach USD 7120.80 Million by 2024 with the CAGR of 2.32% over the forecast period. Automotive engine oil is an engine lubricant which is a mix of base oils enhanced with additives like anti wear additives, detergents, dispersants, corrosion and oxidation inhibitors. The moving parts of engine when comes in to contact with each other creates friction and waste useful power by converting kinetic energy in to heat. The friction also wears away the engine parts which leads to lower efficiency and degradation of engine. This increases fuel consumption, decreases power output and in worst cases seizing of engine. To tackle the problem engine oil is used which reduces ...