Global Lubricant Additives
Market Report
2024
Lubricant Additives market was valued at USD 17.9 billion in 2022 and will reach USD 22.72 billion by 2030, registering a CAGR of 3.03% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global Lubricant Additives market was valued at USD 17.9 billion in 2022 and will reach USD 22.72 billion by 2030, registering a CAGR of 3.03% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Lubricant Additives Market Sales Revenue 2030 | $ 19.96 Billion |
Global Lubricant Additives Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3.78% |
Market Split by Product Type |
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Market Split by Lubricant Type |
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Market Split by End-Use Industry |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Lubricant Additives Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Lubricant additives are organic or inorganic compounds dissolved or suspended as solids in oil to function as a single fluid. The primary function of Lubricant additives is to improve the properties of the base stock under different operating conditions and the high-performance requirements of any machinery. The number of additives in the base oil is constrained by various factors such as their primary function, their synergetic behavior with other additives, and rules set by the industry body. On the general role of performance improvement and service life extension, the additives are classified into protective additives such as antiwear additives, extreme pressure additives, corrosion inhibitors, detergent, and dispersants; performance additives like viscosity modifiers, viscosity index improvers, friction modifiers; and lubricant protective additives such as antifoams and antioxidants. Other additives used in the industries are demulsifiers, biocides, and emulsifiers. The increasing industrialization and automotive sector have boosted the Lubricant Additives market. Fluctuating raw material prices in the market are likely to hinder the Lubricant Additives market.
According to the Indian Brand Equity Foundation, in December 2022, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles was 1557238 units. The rising income of the middle class and the increased population of youth is rapidly increasing the use of private vehicles. The increased use of private vehicles leads to the use of more lubricant additives. Lubricants in vehicles control the engine’s rusting and friction and further, cool it down. Using them in the engine reduces fuel consumption. Hence, lubricants increase the shelf life of vehicles, likely to drive the automobile industry and ultimately Lubricant Additives Market.
The scarcity of lubrication in the engine produces smoke. Also, the emission of nitrogen oxides during combustion is causing pollution. Hence, the government has some rules and regulations for avoiding pollution by timely changing the oils and lubricants in vehicles. Environment Protection Act, of 1986, has given the standards for emission of smoke, vapor, etc from automobiles. Additionally, the Ministry of Environment and Forests has also laid the norms to ensure that standards for the emission of air pollutants from vehicles are kept corresponding with international standards. The government rules for the automotive industry are driving the Lubricants Additive market.
The lubricant additives are prepared from a combination of base oils (80-90%) and the rest is additives. The base oils are petroleum hydrocarbons distillate with additives. The price of crude oil is highly volatile and thus affects the manufacturing of lubricant additives. Hence the fluctuating price of crude oil will hinder the demand for lubricants and will hamper the Lubricant Additive market.
The outbreak of COVID-19 has witnessed a negative impact on the Lubricant Additives market growth. During the pandemic, automotive manufacturing and various industrial activities were temporarily closed. The supply chain was totally disturbed during the pandemic. The low wear and tear of vehicles due to decrease usage of vehicles cause a decline in the need for lubricants. The use of private vehicles as well as commercial vehicles decreased causing a decline in demand for Lubricant Additives. The prices of oil were also fluctuating, hindering the market growth. During the pandemic, the automobile industry has also decreased drastically. All such factors have restrained the growth of the Lubricant Additives market.
Post-pandemic all the activities resumed and witnessed a positive impact. The increase in disposal income and economic stability is leading the automobile industry, which ultimately boosts the demand for the Lubricant Additives market in the coming years.
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Goodyear Lubricants to launch new BS-6 compliant lubricants.
Goodyear Lubricants has launched a new range of vehicles lubricants oils for distribution in New Zealand, Southeast Asia, and South Asia. The new product line is designed to reduce carbon footprint and be in compliance with ongoing BS-6 and EURO 6 standards. The company assured us that its new product will not have any direct impact on nature by eliminating oil drainage and waste in the soil.
Indian Oil launches new Servo Hypersport F5 motorcycle engine oil
Indian Oil, the oil, marketing company and market leader, has launched a new Servo Hypersport F5 fully synthetic 4T engine oil for vehicles. It is a new-generation fully synthetic multigrade lubricant, that has been formulated with fully synthetic base oils and synergistic additive systems that meet the latest international standards.
Rotary Launched New Fuel Stabilizers and Additives
Rotary has launched new fuel stabilizers and treatment additives for small engines. From the complete line of products, several new items are Techron, a fuel treatment for Powersports, and small engine fuel systems that stabilize fuel for up to two years with corrosion protection. It is an alcohol-free formulation that cleans carbon deposits and dissolves gum and varnish buildup while preventing new deposits from forming.
Top Companies Market Share in Lubricant Additives Industry: (In no particular order of Rank)
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The Asia-Pacific region is the region of developing countries. The automotive industry is highly booming in this region. Industrial development in the countries India, China, and Japan is expected to rise the demand for vehicles which will boost the automotive industry and ultimately Lubricant Additives in the next few years. According to the Ministry of Industry and Information Technology, over 26 million vehicles were sold in 2021, including 21.48 million passenger vehicles, an increase of 7.1% from 2020 in China. Hence, the growing demand for vehicles from China will boost the consumption of lubricant additives. Japan’s automotive industry has a high value on innovation and quality likely to boost Lubricant Additives. All such components make the Asia-Pacific region dominate the Lubricant Additives market during the forecast period.
The current report Scope analyzes Lubricant Additives Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Lubricant Additives Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Lubricant Additives Industry growth. Lubricant Additives market has been segmented with the help of its Product Type, Lubricant Type End-Use Industry, and others. Lubricant Additives market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Dispersants segment is projected to grow at the highest CAGR during the forecast period:
Based on type, the Lubricant Additives market is divided into Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Dispersants, Detergents, Friction Modifiers, Emulsifiers, Viscosity Index Improvers, and Others. Dispersant additives help to prevent sludge, varnish, and other deposits from forming on critical surfaces. These additives are majorly used in gasoline engines and heavy-duty diesel engine oils. Dispersants are very essential in the automotive industry as they keep the equipment clean. The growing automobile industry will drive the demand for dispersant additives during the forecast period.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Lubricant Additives Industry. Request a Free Sample PDF!
The Engine Oil segment is projected to grow at the highest CAGR during the forecast period:
By Lubricant Type, the market is segmented into Engine oil, Hydraulic fluids, Metalworking fluids, Compressor oil, Gear oil, Refrigeration oil, Transmission fluids, and Turbine oil. Engine oil is used for the lubrication of the internal combustion engines. The main function of engine oil is to reduce friction and wear on moving parts. It helps in cleaning and cooling the engine. Hence, changing engine oil at equal intervals increases the vehicle's lifespan. Engine oil helps in slowing done the corrosion and avoids rusting of parts. Using engine oils reduces pollution by avoiding friction and fuel consumption. The demand for engine oil is increasing and hence is expected to continue its dominance during the forecast period.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Lubricant Additives market report 2024 Edition by contacting our team.
The demand in the Automotive segment is projected to grow at the highest CAGR during the forecast period:
By end-use industry, the market is divided into Automotive, Construction, Food Processing, Mining, Metal Production, Power Generation, Chemical, Marine, Oil & Gas, Textile, and Others. According to the CEIC data, India Motor Vehicles Sales grew by 2.8% in March 2022. Lubricants are majorly used in engine parts as they are in constant contact with moving parts at high speeds. These lubricants are the only protective barrier between these engine components. Hence all wear and tear of the vehicle totally depend on the lubricants used. Hence the wide application of additives in lubricants is likely to drive the demand in the automobile industry during the forecast period.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Lubricant Additives Market is witnessing significant growth in the near future.
In 2023, the Anti-wear Agents segment accounted for noticeable share of global Lubricant Additives Market and is projected to experience significant growth in the near future.
The Engine oil segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Lubrizol, Chevron Oronite and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product Type | Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Dispersants, Detergents, Friction Modifiers, Emulsifiers, Viscosity Index Improvers |
Lubricant Type | Engine oil, Hydraulic fluids, Metalworking fluids, Compressor oil, Gear oil, Refrigeration oil, Transmission fluids, Turbine oil |
End-Use Industry | Automotive, Construction, Food Processing, Mining, Metal Production, Power Generation, Chemical, Marine, Oil & Gas, Textile |
List of Competitors | Lubrizol, Infineum, Chevron Oronite, Afton, Lanxess, BASF, Tianhe, Adeka, Additiv Chemie Luers, Akzo Nobel, DowDuPont, IPAC, Miracema Nuodex, PCAS, Sanyo Chemical Industries, Vanderbilt |
This chapter will help you gain GLOBAL Market Analysis of Lubricant Additives. Further deep in this chapter, you will be able to review Global Lubricant Additives Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Lubricant Additives Market Trends North America Lubricant Additives Technological Road Map North America Lubricant Additives Market Drivers North America Lubricant Additives Market Restraints North America Lubricant Additives Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Lubricant Type Analysis 2019 -2031
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Chapter 12 Market Split by End-Use Industry Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Lubricant Additives market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Anti-wear Agents have a significant impact on Lubricant Additives market? |
What are the key factors affecting the Anti-wear Agents and Antioxidants of Lubricant Additives Market? |
What is the CAGR/Growth Rate of Engine oil during the forecast period? |
By type, which segment accounted for largest share of the global Lubricant Additives Market? |
Which region is expected to dominate the global Lubricant Additives Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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