Anti-Seize Compounds Market Share

APAC Market Statistics

Asia Pacific industry is poised to hold largest revenue share of 39% by 2037. The growth of the market can be attributed majorly to the increasing demand for anti-seize compounds in end-user verticals in the region, namely transportation, automotive, mining, marine, and construction sector. In addition, an abundance of raw materials and the availability of cheap labor is also predicted to drive the region’s market growth in the upcoming years. The anti-seize compounds are used in the mining industry to prevent and treat the seizure and corrosion of metal connections in machine interfaces. The growth of the market is also attributed to the increasing use of construction equipment across the world. The increasing transportation across the world for various purposes including passenger, material, goods and services, and food and beverages transport is estimated to increase the market demand in the coming years. According to the estimations, the complete revenue of transportation services in the year 2020 was estimated to be over UD 930 billion across the Asia-Pacific region.

North American Market Forecast

The North American anti-seize compounds market is estimated to be the second largest, registering a share of about 32% by the end of 2037. The growth of the market can be attributed majorly to the high production of automobiles, and the growing investment of the government in construction and infrastructure projects in the region. According to the Bureau of Transportation Statistics, a total of 11,297 vehicles were produced in the United States in 2018. The production decreased in the year 2019, accounting for 10,893 vehicles. The rising use of battery poles, connections, springs, fittings, seals, suspensions, and screw connections in driving wheels and chains is estimated to drive market growth. The increasing production of automation of equipment and machinery utilized in the automobile sector is estimated to propel the market growth as per the market analysis. The growing adoption of heavy trucks, LCVs, and other automobile vehicles for transport and construction use is driving the automation sector. All these increase the use of lubricants in vehicles which in turn drives market growth.  

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the increasing use of drilling equipment, drag chains, gears, slides, guiding rails, bolts, fans of drilling equipment, and drawing machines. The rising production of the oil and gas industry and growing construction investment by private key players is estimated to drive the market growth. The escalating advancement in the petrochemical industry as well as food, marine, power, and other sectors are also anticipated to propel the market growth as per the market analysis. The growing metallic and nonmetallic grade anti-seize compounds across the world with new technological advancements were estimated to fuel the market growth. Also, the increasing online sales of food-grade anti-seize compounds are anticipated to propel market growth. The escalating need for anti-seize compounds such as seals is useful to cease harmful gas emissions and is estimated to hike the growth of the market.