Global Lubricant Additives Market by Industrial (Metalworking Fluids, General Industrial Oil, Industrial Engine Oil), by Product (Dispersants, Viscosity Index Modifiers, Anti-Wear Additives, Detergents, Antioxidants, Friction Modifiers), by Application (Automotive (LDV, Automotive HDV) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2015, the global market for lubricant additives was valued at USD 14.35 billion. This industry is known for increasing the use of additives in base oil blending to improve performance and service life. These additives increase oil viscosity, reduce oil decomposition, and act as antioxidants or corrosion inhibitors in combustion engines.

There has been an explosion in the development of lubricating oils due to increasing regulations on vehicle fuel efficiency and greenhouse gas emissions. For superior products that meet consumer and environmental requirements, blenders have made significant investments in R&D.

Additives play an important role in the blending of base oils and subsequent formulations. They are crucial materials for improving oil performance and specification. As mentioned above, the trend has had a significant impact on industry development and is expected to continue to drive the global lubricant market.

The end-use of the additives will determine how they are used. This includes automotive engines, hydraulic systems and gears. The industry will be affected by the demand for lubricating oils that are specific to each application.

Volume of U.S. Lubricant Additives Market by Product, 2014-2024 (Kilo Tons).

The global automotive industry's main driver is the increase in automobile sales, especially passenger cars that are high-performance and have long service intervals. The growth of the domestic blenders and aftermarket for cars in emerging countries is expected to be a key driver over the forecast period.

Product Insights

Globally, the industry is divided on the basis product as dispersants and viscosity improvers, detergents and anti-wear additives as well as friction modifiers such as corrosion inhibitors or emulsifiers.

Together, dispersants and viscosity enhancers accounted for more than 40% of global volume in 2015. They are used widely to prevent the formation of sludge, varnish or other deposits on surfaces. Dispersants are used in gasoline and diesel engine oils where they are subject to engine protection.

Polymeric viscosity index enhancers can be added to lubricating oil to decrease the amount of viscosity change at high and low temperatures. They were the most popular product segment in 2015, with a volume of over 950 kilotons. These additives are a key ingredient in engine oil formulations.

Application Insights

The global lubricant additives industry is divided by application. These segments can be further sub-divided into heavy-duty and passenger car motor oils as well as general industrial oils and metalworking fluids.

In 2014, passenger car motor oil accounted for more than 30% of global volume. It is expected to continue its dominance in the future. EURO norms regulate the amount of soot, nitrogen oxide, and carbon monoxide. This is coupled with shifts in consumer preferences to use operationally efficient, low-viscosity fuels.

General industrial oil, which accounted for more than 35% of global industrial lubricants volume in 2014, is expected to grow rapidly and will continue to be the fastest-growing segment. Due to declining costs of Asian manufacturers, it is not attractive to shift manufacturing facilities to low-cost Asian market.

These manufacturers are also improving and modernizing their manufacturing processes to be more competitive around the world. This will have an impact on the market dynamics, both in terms of quantity and quality.

Regional Insights

The Asia Pacific market for lubricant additives led the global industry, with a demand share of over 25% in 2014. Development fuel efficiency norms and growing environmental concerns about carbon emissions in China, India, Japan are expected to drive growth.

The region's economic growth and industrialization have enabled increased production and ownership of vehicles. Asia Pacific is expected to grow at a rate of more than 3% between 2016 and 2024.

Several legal and environmental factors have facilitated industrial development in Central & South America, the Middle East & Africa, and elsewhere. These areas are home to important countries like Brazil and South Africa, which are experiencing rapid growth due to increased domestic passenger car and heavy-duty vehicle manufacturing.

Over the next few years, consumption will be driven by the recovery of manufacturing sectors in the mature economies of North America, Europe, such as the U.S. and UK. Industry dynamics will be further affected by government intervention to meet fuel economy targets.

Competitive Insights

A large number of players are present in the global lubricant additives industry. Major players in the industry are BASF SE and Chemtura Corp., Chevron Oronite (Croda International), Evonik Industries, Infineum International as well as Lubrizol Corp. Shamrock, Tianhe Chemicals, and Evonik Industries.

These are the most frequently asked questions about this report

b. Global lubricant additives market was valued at USD 15.63 billion in 2019, and is forecast to grow to USD 16.33 billion by 2020.

b. Global lubricant additives markets are expected to expand at a compound annual rate of 3.3% between 2016 and 2024, reaching USD 18.85 billion in 2024.

b. With a 33.6% share in 2019, North America was the dominant market for lubricant additives. This can be attributed to the increasing environmental concerns regarding carbon emissions in China, India and Japan, as well as developing fuel efficiency norms.

b. The market for lubricant additives includes Chemtura Corp. and Chevron Oronite. Evonik Industries, Infineum International and Lubrizol Corp. Shamrock are some of the key players.

b. b.

Up Market Research published a new report titled “Lubricant Additives Market research report which is segmented by Industrial (Metalworking Fluids, General Industrial Oil, Industrial Engine Oil), by Product (Dispersants, Viscosity Index Modifiers, Anti-Wear Additives, Detergents, Antioxidants, Friction Modifiers), by Application (Automotive (LDV, Automotive HDV), By Players/Companies Chevron Oronite, Infineum International, Croda International, Lubrizol Corp, BASF SE, Chemtura Corp, Evonik Industries, Shamrock and Tianhe Chemicals”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Lubricant Additives Market Report Segments:

The market is segmented by Industrial (Metalworking Fluids, General Industrial Oil, Industrial Engine Oil), by Product (Dispersants, Viscosity Index Modifiers, Anti-Wear Additives, Detergents, Antioxidants, Friction Modifiers), by Application (Automotive (LDV, Automotive HDV).

Lubricant Additives Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Lubricant Additives Market

Overview of the regional outlook of the Lubricant Additives Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Lubricant Additives Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Lubricant Additives Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Metalworking Fluids

                2. General Industrial Oil

                3. Industrial Engine Oil

                1. Dispersants

                2. Viscosity Index Modifiers

                3. Anti-Wear Additives

                4. Detergents

                5. Antioxidants

                6. Friction Modifiers

                1. LDV

                2. Automotive HDV

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Lubricant Additives Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
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Reasons to Purchase the Lubricant Additives Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.