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    Lubricating Oil Additives Market Report

    Lubricating Oil Additives Market Report
    Report code - SR2573 Delivery - 2 Weeks
    Lubricating Oil Additives Market Size, Share, Trend, Forecast, Competitive Analysis, and G See more...

    Market Insights

    The lubricating oil additives market is estimated to grow at a CAGR of 2.3% over the next five years to reach US$ 21.1 Billion in 2028. 

    What are Lubricating Oil Additives?

    Lubricating oil additives are chemical compounds or substances that are mixed with lubricating oils to enhance their performance and improve their lubrication properties. These additives are designed to provide additional benefits beyond what the base oil alone can achieve. They are used in various lubricating oils, including engine oils, industrial oils, hydraulic fluids, gear oils, and more. To make complete lubricants, lubricant additives are blended with base oils. Organic or inorganic components dissolved or excluded as solids in oil are referred to as solids.

    These additives improve the life and production of final lubricants in a variety of ways. These additives outstanding performance also increases the life of machines and lowers maintenance expenses. Depending on the end-use application, these mixes are used separately or in combination. Heavy-duty and passenger car lubricants in the automotive industry, consume the most lubricant additives, followed by metalworking fluids and mechanical engine oils in the industrial sector. Lubricant additives are also important for the management of energy and emissions in a variety of automobile and end-use sectors.

    Market Drivers

    Globally, the number of automobiles has increased in recent years as a result of a rise in living standards, a rise in per capita income, and a change in consumer preferences. Moreover, the lubricant additives market is also being driven by the ever-increasing use of marine and aircraft transportation, as well as improved pollution regulations in conjunction with fuel economy standards.

    The increase in use in transport has had a significant impact on the industry's development in the past and is expected to continue to drive the lubricant additives market in the future.

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Type Analysis

    Dispersants, Viscosity index improvers, Detergents, Anti-wear agents, Antioxidants, Corrosion inhibitors, Friction modifiers, Emulsifies, and Others

    The dispersant segment is estimated to hold the highest market share during the forecast period. The factor responsible for the growth is dispersant, which is one of the necessary additives to form additive packages for both, automotive and industrial segments.

    Application-Type Analysis

    Automotive(Heavy-duty, Passenger cars, and Others) and Industrial(Metalwork fluids, Industrial engine oils, General Industrial oil, and Others)

    The automotive segment dominated the major market share in past years, also industrial application is estimated to witness a substantial growth rate during the forecast period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and The Rest of the World

    Asia-Pacific gained the highest share in the lubricant additives market in terms of revenue and is anticipated to maintain its dominance during the forecast period.

     

    Based on Type

    The Lubricating Oil Additives Market is segmented into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. The dispersants segment holds the majority of share for the forecasted period, contributing to the global lubricating oil additives revenue. It promotes suspending the insoluble impurities in the oil to prevent the formation of sludge. Dispersants are frequently used to prevent deposits on surfaces, such as varnish, sludge, and other types of deposits.

    Application Trends

    The market is segmented into automotive (heavy-duty, passenger cars, and others) and industrial (metalwork fluids, industrial engine oil, general engine oil, and others). The automotive segment is the largest segment of the market. The requirement for passenger car motors is expected to increase at a considerable pace over the forecast period. The production of automobiles, light, and heavy commercial vehicles, and two-wheelers is increasing, which is driving lubricant additives demand all over the globe.

    EURO norms, regulating the amount of nitrogen oxide, carbon monoxide, soot, and hydrocarbons, linked with a turn in consumer choices towards using operationally efficient and low thickness fuel drive the need for passenger car motor oil.

    Regional Analysis

    Asia-Pacific holds the largest market of lubricating oil additive market across the globe. The growth of the region is attributed to the development of fuel efficiency norms linked with increasing environmental concerns about carbon emissions in China, India, and Japan. Economic growth in the region coupled with increasing industrialization has allowed greater production and possession of vehicles.

    Various environmental and legal factors are also encouraging others regions industrial growth including, Central & South America and the Middle East & Africa as well. These regions are also homeward to major countries such as Brazil and South Africa, which are developing at a rapid rate due to progressing passenger car and heavy-duty vehicle production domestically.

    The lubricating oil additives market is segmented into the following categories:

    By Type

    • Dispersants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Viscosity index improvers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Detergents (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Anti-wear agents (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Antioxidants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Corrosion Inhibitors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Friction Modifiers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Emulsifiers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Application Type

    • Automotive (Heavy-duty, Passenger cars, and Others) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial (Metalwork fluids, Industrial engine oil, General industrial oil, and Others) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Key Players

    The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the Lubricating Oil Additives Market. Most of the major players are providing complete profile systems including profile seals.

    • Afton Chemical Corporation
    • BASF SE
    • BRB International
    • Chevron Chemical Corporation
    • Croda International PLC.
    • Dover Chemical Corporation
    • Evonik
    • Infineum International
    • Lubrizol
    • Others

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Lubricating Oil Additives Market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

    The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for existing and new players.
    • Key success factors.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    The lubricating oil additives market is estimated to grow at a CAGR of 2.3% by 2028, driven by additives various functions to improve the life and production of finished lubricants. The tremendous performance of these additives also extends the life span of machinery and reduces maintenance costs.

    Afton Chemical Corporation, BASF SE, BRB International, Chevron Chemicals, Evonik, and Lubrizol are the leading players in the Lubricating Oil Additives Market.

    Asia Pacific is the dominant region, accounting for a revenue share of more than 30%. Growth is expected to be driven by the development of fuel efficiency norms coupled with growing environmental concerns about carbon emissions in China, India, and Japan.

    Various environmental and legal factors are promoting industrial development in Central & South America and the Middle East & Africa as well. These regions are also home to major countries such as Brazil and South Africa that are growing at a rapid rate due to increasing passenger car and heavy-duty vehicle production domestically.

    The automotive segment is the largest segment of the market. The requirement for passenger car motors is expected to increase at a considerable pace over the forecast period. The production of automobiles, light, and heavy commercial vehicles, and two-wheelers is increasing, which is driving lubricant additives demand all over the globe.

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