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    Lubricant Additives Market Report

    Lubricant Additives Market Report
    Report code - SR2755 Delivery - 2 Weeks
    Lubricant Additives Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Highlights

    Lubricant additives are chemical components or substances that, when applied at a specific amount, perform one or more functions in the fluid. Additives for lubricants are combined with basic oils to create complete lubricants. "Solids" are defined as organic or inorganic substances that have dissolved or been excluded from oil as solids. They can be anything between 0.1 and 30% of the entire oil volume, depending on the equipment. In many different ways, these additives extend the lifespan and increase the output of final lubricants.

    Emerging economies in the Asia-Pacific region, which account for approximately 30% of the demand for lubricant additives, are the main market drivers in this sector. Due to the region's price sensitivity, the growing construction, manufacturing, and automotive industries—which are not subject to severe environmental regulations—fuel the demand for lubricant additives of moderate grade. Due to this, Asia-Pacific has become a key global manufacturing and commercial hub where many large corporations are establishing their new factories to compete in fast-growing markets. Manufacturers are drawn to the area for a variety of reasons, including affordable labor and simple access to feedstocks. The market for alternative fuels, such as biofuels, liquefied petroleum gas (LPG), and compressed natural gas (CNG), is driven by environmental restrictions in Europe and North America. Overall, the lubricant additives market is likely to grow at a promising CAGR of 3.7%, in the long run, to reach US$ 31.3 Billion in 2028

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Function-Type Analysis

    Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion Inhibitors, Emulsifiers, and Others

    Dispersants are anticipated to remain the biggest demand generator for the lubricant additives market in the years to come.

    Application-Type Analysis

    Automotive and Industrial Lubricants

    Automotive is projected to be the dominant application in the lubricant additives market.

    Regional Analysis

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

    Asia-Pacific is expected to remain the largest market over the next five years.

    Based on the function type, the lubricant additives market is segmented into dispersants, VII, detergents, antiwear, antioxidants, corrosion inhibitors, emulsifiers, and others. Dispersants are expected to remain the largest function type in the market during the forecast period. The dispersant is one of the components required to create additive packages for the industrial and automotive markets. It recommends 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. Diesel and petrol engine oils, where their use is restricted to engine protection, make up about three-quarters of all usage.

    Based on the application type, the market is segmented into automotive and industrial lubricants. Automotive is expected to remain the dominant as well as the faster-growing application in the market during the forecast period. While the industrial application is anticipated to experience a significant growth rate throughout the projected period, the automotive segment is expected to continue to hold the majority of the market share. In 2022, passenger car motor oil dominated the market, and this dominance is anticipated to continue during the forecast period. The requirement for passenger car motor oil is driven by EURO norms, which control the levels of nitrogen oxide, carbon monoxide, soot, and hydrocarbons associated with customer decisions to use fuel that is low in thickness and operationally efficient.

    In terms of regions, Asia-Pacific is expected to remain the largest market for lubricant additives during the forecast period. This is supported by the region's substantial customer base and important player presence. The region's expanding industrialization and economic development have enabled greater vehicle production and ownership, which has increased the demand for lubricant additives in the area.

    Key Players

    The following are the key players in the lubricant additives market.

    • Afton Chemical Corporation.
    • BASF SE
    • Chemtura Corporation
    • Chevron Oronite Company Llc
    • Croda International Plc
    • Evonik Industries Ag
    • Infineum International Ltd.
    • The Lubrizol Corporation
    • Shamrock Shipping & Trading Limited

    Tianhe Chemicals Group

    Research Methodology

    This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s lubricant 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 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

    The lubricant additives market is segmented into the following categories. 

    Lubricant Additives Market, by Function 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 Additives (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)
    • Emulsifiers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Lubricant Additives Market, by Application Type

    • Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial Lubricants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Lubricant Additives Market, 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, Saudi Arabian, and Others)

    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 (FAQs)

    The lubricant additives market is estimated to grow at a CAGR of 3.7% by 2028, driven by emerging economies in the Asia-Pacific region, which accounts for approximately 30% of the demand for lubricant additives, are the main market drivers in this sector.

    Afton Chemical Corporation, BASF SE, Chemtura Corporation, Chevron Oronite Company Llc, Croda International Plc, and Evonik Industries Ag are the leading players in the lubricant additives market.

    Asia Pacific is estimated to remain dominant in the lubricant additives market in the foreseeable future. The key economies driving the regions demand for lubricant additives are China, India, and Japan.

    Automotive is projected to be the dominant application in the lubricant additives market. The requirement for passenger car motor oil is driven by EURO norms, which control the levels of nitrogen oxide, carbon monoxide, soot, and hydrocarbons associated with customer decisions to use fuel that is low in thickness and operationally efficient.

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