Lubricant Additives Market 2023: Global Report, Size, Top Companies & Manufacturers Share, Growth, Trends, and Forecast 2028

Published February 13, 2023

The latest report by IMARC Group, titled “Lubricant Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global lubricant additives market report. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global lubricant additives market size reached US$ 16.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.8 Billion by 2028, exhibiting a CAGR of 3.7% during 2023-2028.

Lubricant additives represent inorganic or organic chemical compounds that are dissolved or suspended in engine oils and functional fluids to improve their overall performance. They are of several types, such as dispersants, emulsifiers, viscosity index improvers, anti-wear and antioxidants, friction modifiers, corrosion inhibitors, etc. These lubricant additives variants enhance the existing base oil properties with demulsifying and anti-foam agents and suppress the undesirable properties with pour-point depressants. They even help to avert reactions with moisture present in the environment by forming a protective chemical barrier that safeguards the machinery from internal rust. As a result, lubricant additives find extensive applications across numerous sectors, including automotive and transportation, food processing, metal working, power generation, etc.

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Market Trends:

The expanding automotive sector and the increasing requirement for efficient lubricants to cool, clean, and protect metal parts against rust and corrosion and improve fuel efficiency and engine performance are among the key factors driving the lubricant additives market. Moreover, the launch of advanced lubricant additives that assist in extending oil drain service intervals and engine durability and reducing CO2 emissions from commercial vehicles and passenger cars is acting as another significant growth-inducing factor.

Besides this, the elevating product need from the marine and aviation transportation segment and the implementation of stringent regulations regarding pollution and fuel economy standards by government bodies to promote environmental safety are also positively influencing the market growth. In addition to this, the escalating usage of food-grade lubricants in various system elements across processing and manufacturing lines, such as chain oils, gear oils, compressor oils, corrosion preventive oils, hydraulic oils, etc., is expected to propel the lubricant additives market over the forecasted period.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Some of these key players include:            

  • Chevron Corp.
  • Afton Chemical Corporation
  • The Lubrizol Corporation
  • Infineum International Limited
  • BRB International BV
  • Wuxi South Petroleum Additive Co.
  • Croda Lubricants
  • DOG Chemie
  • Dorf Ketal
  • Dover Chemical
  • Eni SpA.
  • Evonik Industries AG
  • Jinzhou Kangtai Lubricant Additives Co. Ltd
  • King Industries Inc

Key Market Segmentation:

Breakup by Type:

  • Dispersants
  • Viscosity Index Improvers
  • Detergents
  • Antiwear and Antioxidants
  • Corrosion Inhibitors
  • Friction Modifiers
  • Emulsifiers

Breakup by End-Use:

  • Automotive Lubricant
  • Metalworking Fluid
  • Industrial Engine Oil
  • Process Oil
  • Grease

Breakup by Distribution Channel:

  • Retail
  • Institutional

Breakup by Region:    

  • North America (United States, Canada)
  • Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
  • Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

  • Preface
  • Scope and Methodology
  • Executive Summary
  • Introduction
  • Global Market
  • SWOT Analysis
  • Value Chain Analysis
  • Price Analysis
  • Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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