Stringent regulations regarding the permissible amount of carbon emission in the atmosphere are expected to remain a key driving factor for global lubricant additives market. Additive prices witnessed a significant decline in 2015 as a result of fluctuations in prices of key raw materials. Their prices are heavily dependent on prices of calcium carbonate, zinc metal, and crude oil. The Global Lubricant Additives Market is expected to reach USD 18.85 billion by 2024, according to a new report by Grand View Research, Inc. Viscosity index improvers were the leading product segment with demand share estimated at 23.3% in 2015. Friction modifiers, which act as a cushion between two coated surfaces thereby minimizing surface contacts, are expected to register highest volume growth of 3.5% over the forecast period. Automotive lubricants were the largest application segment and accounted for over 59.5% of total market volume in 2015. Increasing passenger car production and consequen...