The Lubricant Additives Market size was valued at USD 17.2 billion in 2022. It is expected to grow to USD 23.54 billion by 2030 and grow at a CAGR of 4% over the forecast period of 2023-2030.
The Lubricant Additives Market growth is driven by the rising need for high-performance lubricants in a wide range of applications. With the increasing complexity of machinery and equipment, lubricants alone may not suffice to meet the stringent requirements of modern industries. This has led to a surge in the demand for lubricant additives, as they offer tailored solutions to address specific challenges faced by different sectors. One of the key drivers of the Lubricant Additives Market is the automotive industry. As vehicles become more advanced and efficient, the demand for lubricants that can withstand extreme temperatures, reduce friction, and enhance fuel economy has skyrocketed. Lubricant additives, such as anti-wear agents, detergents, and dispersants, are essential in formulating lubricants that can meet these requirements and ensure optimal performance of engines and other automotive components.
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The Viscosity Index Improvers segment was the dominant product in 2022, accounting for over 25% of the revenue share. Viscosity index improvers are polymers that are added to lubricating oils to minimize changes in viscosity at both low and high temperatures. These additives play a crucial role in engine oil formulations.
Recovery of manufacturing sectors in developed economies of North America and Europe such as the U.S., UK, Germany, and Italy will drive consumption over the forecast horizon. Increasing government regulations to achieve fuel economy targets is anticipated to impact further industry dynamics. Stringent regulations that are pushing countries such as the U.S., Canada, and Mexico to reduce carbon emissions have created a huge demand for anti-wear additives in the North American region.
Drivers
Increasing demand for high-performance lubricants in various industries
Growing automotive industry and the need for fuel-efficient vehicles
Rising awareness about the benefits of using lubricant additives for equipment maintenance and longevity
Technological advancements in lubricant additive formulations
Restraint
Fluctuating raw material prices affect the overall cost of lubricant additives
Limited availability of certain additives in the market
Opportunities
Increasing focus on sustainable and bio-based lubricant additives
Growing demand for synthetic lubricants in various industries
Challenges
Volatile crude oil prices impact the overall lubricant additives market
Stringent environmental regulations regarding the use of certain additives
The Russian lubricants market has undergone significant changes due to the departure of all four primary lubricant additive suppliers and several major oil companies from the country last year. This exodus was a direct response to Russia's war on Ukraine. As a result, Russia has experienced a growing disconnect from the global economy and Western lubricant and additive technology. However, the country has shown a keen interest in embracing alternative suppliers from China and other Asian countries. The withdrawal of major oil companies such as Shell, ExxonMobil, BP, and TotalEnergies has had far-reaching consequences. These companies not only closed their Russian offices but also divested their retail networks and lubricant plants, which had been significant investments over the past few decades. In a similar fashion, the Big Four additive companies, namely Infineum, Chevron Oronite, Lubrizol, and Afton Chemical followed suit and terminated their business operations in Russia. It is worth noting that these four companies collectively supply the majority of the world's lubricant additive packages.
During a recession, the lubricant additives market experiences a decline in demand due to reduced industrial activity and consumer spending. As businesses tighten their belts and cut costs, the need for lubricant additives decreases, leading to a decrease in sales and revenue for manufacturers and suppliers. This decline in demand is further exacerbated by the reduced production and consumption of automobiles, machinery, and other industrial equipment. Furthermore, the recession often prompts consumers to opt for cheaper alternatives or delay maintenance and repairs, resulting in a decrease in the overall consumption of lubricant additives. This shift in consumer behavior poses a significant challenge for market players.
By Product
Antioxidants
Dispersants
Detergents
Anti-wear Additives
Viscosity Index Improvers
Friction Modifiers
Others
By Application
Automotive Lubricants
Passenger Car Motor Oil
Heavy Duty Motor Oil
Others
Industrial Lubricants
Industrial Engine Oil
Metalworking Fluids
General Industrial Oil
Others
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Asia Pacific dominated the Lubricant Additives Market with the highest revenue share of about 35.2% in 2022. This is due to factors such as the rapid growth of economies and a surge in investments across various industrial sectors. Our secondary research reveals that the automobile sector in India has been a magnet for foreign direct investment (FDI), attracting a staggering amount of US$33.77 billion between April 2000 and September 2022. Furthermore, the 2022 report from the European Automobile Manufacturers Association highlights China's significant contribution to global vehicle production, accounting for 34% of the 66.2 million cars manufactured worldwide. Europe follows closely behind with a 23% share, while Japan and Korea collectively contribute 16%. Moreover, the China Electronic Information Industry Development predicts that China will allocate a substantial sum of USD 1.4 trillion towards new infrastructure projects between 2020 and 2025. These investments will encompass various sectors, including renewable energy and residential buildings. Consequently, the construction and automobile industries in China and India, as well as the automobile sector in Japan and Korea, are experiencing rapid development. This, in turn, has generated a surge in demand for advanced lubrication solutions within the Asia Pacific region.
North America held the significant revenue share of the Lubricant Additives Market and is expected to grow with a CAGR of about 4.3% during the forecast period. One of the key factors contributing to North America's substantial revenue share is its robust industrial sector. The region boasts a thriving manufacturing industry, which heavily relies on lubricants to ensure smooth operations and enhance the lifespan of machinery. As a result, the demand for lubricant additives, which improve the performance and efficiency of lubricants, has witnessed a significant upsurge. Additionally, the growing automotive sector in North America has contributed significantly to the demand for lubricant additives. With a rising number of vehicles on the road, the need for high-performance lubricants has surged.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Evonik Industries, LANXESS, BASF SE, Croda International, Chevron Oronite Company, Hornett Brothers & Co. Ltd., Shamrock Shipping & Trading Ltd., Chemtura Corporation, Afton Chemical Corp., Lubrizol Corp., Tianhe Chemicals Group, Infineum International, BRB International, and other key players mentioned in the final report.
In Feb 2023, as lithium prices continue to rise, Lubrizol is dedicated to providing alternative, high-performance, and cost-effective solutions for industrial grease-thickening to grease manufacturers worldwide. To support the testing and development of calcium sulfonate greases, which have great potential in the industrial grease market, Lubrizol has established a new grease lab in Navi Mumbai, India.
In Nov. 2022, BRB inaugurated a new facility in Echt, Netherlands, exclusively for lube oil additives and chemicals. This state-of-the-art facility prioritizes sustainable production practices, effectively reducing its carbon footprint. The Malaysian Ambassador to the Netherlands, H.E., was present at the opening ceremony.
In August 2022, BASF commenced the production of fuel performance additives at its Pudong site in Shanghai, China. This new plant was established to meet the growing regional demand for fuel performance additives and to provide customers in Asia with enhanced supply security and flexibility.
In March 2022, Afton Chemical Corporation, a global leader in the lubricant and fuel additive market, completed the third phase of its expansion. This expansion included the addition of Gasoline Performance Additives (GPA) blending capabilities at its Singapore Chemical Additive Manufacturing Facility.
| Report Attributes | Details |
| Market Size in 2022 | US$ 17.2 Bn |
| Market Size by 2030 | US$ 23.54 Bn |
| CAGR | CAGR of 4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Antioxidants, Dispersants, Detergents, Anti-wear Additives, Viscosity Index Improvers, Friction Modifiers, and Others) • By Application (Automotive Lubricants and Industrial Lubricants) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Evonik Industries, LANXESS, BASF SE, Croda International, Chevron Oronite Company, Hornett Brothers & Co. Ltd., Shamrock Shipping & Trading Ltd., Chemtura Corporation, Afton Chemical Corp., Lubrizol Corp., Tianhe Chemicals Group, Infineum International, BRB International |
| Key Drivers | • Increasing demand for high-performance lubricants in various industries. • Growing automotive industry and the need for fuel-efficient vehicles. • Rising awareness about the benefits of using lubricant additives for equipment maintenance and longevity. • Technological advancements in lubricant additive formulations |
| Market Restraints | • Fluctuating raw material prices affect the overall cost of lubricant additives. • Limited availability of certain additives in the market. |
Ans. The Compound Annual Growth rate for the Lubricant Additives Market over the forecast period is 4%.
Ans. The projected market size for the Lubricant Additives Market is USD 23.54 billion by 2030.
Ans: The Passenger Car Motor Oil in the automotive lubricant application segment dominated the Lubricant Additives Market and is expected to show dominance during the forecast period.
Ans: The Asia-Pacific region dominated the Lubricant Additives Market in 2022.
Ans: Yes, you can ask for the customization as per your business requirement.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Lubricant Additives Market Segmentation, By Product
8.1 Antioxidants
8.2 Dispersants
8.3 Detergents
8.4 Anti-wear Additives
8.5 Viscosity Index Improvers
8.6 Friction Modifiers
8.7 Others
9. Lubricant Additives Market Segmentation, By Application
9.1 Automotive Lubricants
9.1.1 Passenger Car Motor Oil
9.1.2 Heavy Duty Motor Oil
9.1.3 Others
9.2 Industrial Lubricants
9.2.1 Industrial Engine Oil
9.2.2 Metalworking Fluids
9.2.3 General Industrial Oil
9.2.4 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Lubricant Additives Market by Country
10.2.2North America Lubricant Additives Market by Product
10.2.3 North America Lubricant Additives Market by Application
10.2.4 USA
10.2.4.1 USA Lubricant Additives Market by Product
10.2.4.2 USA Lubricant Additives Market by Application
10.2.5 Canada
10.2.5.1 Canada Lubricant Additives Market by Product
10.2.5.2 Canada Lubricant Additives Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Lubricant Additives Market by Product
10.2.6.2 Mexico Lubricant Additives Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Lubricant Additives Market by Country
10.3.1.2 Eastern Europe Lubricant Additives Market by Product
10.3.1.3 Eastern Europe Lubricant Additives Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Lubricant Additives Market by Product
10.3.1.4.2 Poland Lubricant Additives Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Lubricant Additives Market by Product
10.3.1.5.2 Romania Lubricant Additives Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Lubricant Additives Market by Product
10.3.1.6.2 Hungary Lubricant Additives Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Lubricant Additives Market by Product
10.3.1.7.2 Turkey Lubricant Additives Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Lubricant Additives Market by Product
10.3.1.8.2 Rest of Eastern Europe Lubricant Additives Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Lubricant Additives Market by Country
10.3.2.2 Western Europe Lubricant Additives Market by Product
10.3.2.3 Western Europe Lubricant Additives Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Lubricant Additives Market by Product
10.3.2.4.2 Germany Lubricant Additives Market by Application
10.3.2.5 France
10.3.2.5.1 France Lubricant Additives Market by Product
10.3.2.5.2 France Lubricant Additives Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Lubricant Additives Market by Product
10.3.2.6.2 UK Lubricant Additives Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Lubricant Additives Market by Product
10.3.2.7.2 Italy Lubricant Additives Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Lubricant Additives Market by Product
10.3.2.8.2 Spain Lubricant Additives Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Lubricant Additives Market by Product
10.3.2.9.2 Netherlands Lubricant Additives Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Lubricant Additives Market by Product
10.3.2.10.2 Switzerland Lubricant Additives Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Lubricant Additives Market by Product
10.3.2.11.2 Austria Lubricant Additives Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Lubricant Additives Market by Product
10.3.2.12.2 Rest of Western Europe Lubricant Additives Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Lubricant Additives Market by Country
10.4.2 Asia Pacific Lubricant Additives Market by Product
10.4.3 Asia Pacific Lubricant Additives Market by Application
10.4.4 China
10.4.4.1 China Lubricant Additives Market by Product
10.4.4.2 China Lubricant Additives Market by Application
10.4.5 India
10.4.5.1 India Lubricant Additives Market by Product
10.4.5.2 India Lubricant Additives Market by Application
10.4.6 Japan
10.4.6.1 Japan Lubricant Additives Market by Product
10.4.6.2 Japan Lubricant Additives Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Lubricant Additives Market by Product
10.4.7.2 South Korea Lubricant Additives Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Lubricant Additives Market by Product
10.4.8.2 Vietnam Lubricant Additives Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Lubricant Additives Market by Product
10.4.9.2 Singapore Lubricant Additives Market by Application
10.4.10 Australia
10.4.10.1 Australia Lubricant Additives Market by Product
10.4.10.2 Australia Lubricant Additives Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Lubricant Additives Market by Product
10.4.11.2 Rest of Asia-Pacific Lubricant Additives Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Lubricant Additives Market by Country
10.5.1.2 Middle East Lubricant Additives Market by Product
10.5.1.3 Middle East Lubricant Additives Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Lubricant Additives Market by Product
10.5.1.4.2 UAE Lubricant Additives Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Lubricant Additives Market by Product
10.5.1.5.2 Egypt Lubricant Additives Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Lubricant Additives Market by Product
10.5.1.6.2 Saudi Arabia Lubricant Additives Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Lubricant Additives Market by Product
10.5.1.7.2 Qatar Lubricant Additives Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Lubricant Additives Market by Product
10.5.1.8.2 Rest of Middle East Lubricant Additives Market by Application
10.5.2 Africa
10.5.2.1 Africa Lubricant Additives Market by Country
10.5.2.2 Africa Lubricant Additives Market by Product
10.5.2.3 Africa Lubricant Additives Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Lubricant Additives Market by Product
10.5.2.4.2 Nigeria Lubricant Additives Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Lubricant Additives Market by Product
10.5.2.5.2 South Africa Lubricant Additives Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Lubricant Additives Market by Product
10.5.2.6.2 Rest of Africa Lubricant Additives Market by Application
10.6 Latin America
10.6.1 Latin America Lubricant Additives Market by Country
10.6.2 Latin America Lubricant Additives Market by Product
10.6.3 Latin America Lubricant Additives Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Lubricant Additives Market by Product
10.6.4.2 Brazil Africa Lubricant Additives Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Lubricant Additives Market by Product
10.6.5.2 Argentina Lubricant Additives Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Lubricant Additives Market by Product
10.6.6.2 Colombia Lubricant Additives Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Lubricant Additives Market by Product
10.6.7.2 Rest of Latin America Lubricant Additives Market by Application
11 Company Profile
11.1 Evonik Industries
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/ Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 LANXESS
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/ Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 BASF SE
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/ Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Croda International
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/ Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Chevron Oronite Company
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/ Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Hornett Brothers & Co. Ltd.
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/ Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Shamrock Shipping & Trading Ltd.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/ Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Chemtura Corporation
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/ Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Afton Chemical Corp
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Lubrizol Corp.
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/ Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Tianhe Chemicals Group
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/ Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 Infineum International
11.12.1 Company Overview
11.12.2 Financials
11.12.3 Product/ Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
11.13 BRB International
11.13.1 Company Overview
11.13.2 Financials
11.13.3 Product/ Services Offered
11.13.4 SWOT Analysis
11.13.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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