Report Scope & Overview:
Lubricating Oil Additives Market Size was valued at USD 19.09 billion in 2022, and expected to reach USD 24.19 billion by 2030, and grow at a CAGR of 3.0% over the forecast period 2023-2030.
Additives for lubricating oil are chemical compounds that are added to the base oil to give it new properties or improve the properties it already has. Some additives also help get rid of the bad things about the base oil. Most of the time, these additives are used in the automotive industry to make sure that the engine, gearbox, and other parts work safely and well. Also, this product is used to make machines like compressors and refrigeration systems last longer. Anti-foaming agents, corrosion inhibitors, and antioxidants are additives that improve the properties of the lubricating oil. Pour-point depressants and viscosity index improvers help hide the bad properties of the base oils. Also, detergents, additives for high pressure, and emulsifiers give the base oils new properties.
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Demand from the auto industry is growing
Demand for Industrial Lubricants with Better Quality
Move toward fuels that aren't oil
Rising competition from a market that is not well organised and is broken up
Automakers will use less metal parts in their cars
Demand for renewable energy is growing
Developing economies are getting more market opportunities
Changes in the price of crude oil
Hybrid and electric cars are becoming more popular
Costly research and development is needed to come up with an additive package that meets strict environmental regulations
Impact of COVID-19:
Almost every part of the world has been affected by the pandemic. Because of problems in the global supply chain and a drop in oil prices, the market for lubricating oil additives has grown less than it should have. This is happening because demand in the auto industry has dropped. The automotive and industrial sectors are very important to the market. In terms of value, the lubricating oil additives market is worth the most in APAC.
South Asian countries like India, Bangladesh, Sri Lanka, and Central Asian countries, which make up APAC, saw a drop in the number of vehicles on the road. This made less need in the area for fuels and lubricating oil additives. China has a big share of the market for lubricating oil additives in the APAC region, but it was hit hard by the pandemic at first. Millions of people were put in quarantine, which stopped all supply chains that came from China. The travel bans and lockdowns that were put in place in most of China's big cities cut down on the amount of oil the country could make. It has also hurt the people who work there, without whom many ports like Shenzhen and Shanghai would not be able to operate. But after three months of being shut down, the country has shown signs of getting better. Most businesses have reopened, which is likely to increase the need for lubricating oil additives. After the mass vaccination drive started, other developing countries also sped up the number of cars they made in 2021.
Viscosity Index Improvers
Rust & Corrosion Inhibitors
Extreme Pressure Additives
Pour Point Depressants
Metal Working Fluids
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Five regions, including Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa, have been looked at in terms of the global lubricating oil additives market. In 2022, Asia-Pacific was the largest market for lubricating oil additives around the world. This is because the automotive industry, especially in emerging economies like China, India, Japan, Indonesia, and South Korea, is buying more of the product. During the next few years, the market for lubricating oil additives is likely to grow because of the growth of the industrial sector and the need to make machines work better.
Additives for lubricating oil are also sold in large amounts in North America and Europe. Since North America is the second-largest region for making cars, the need for lubricating oil additives is likely to grow over the next few years. The demand for the product is expected to go up in Europe because of the growing need to reduce gas emissions and improve fuel economy, as well as changes in the automotive industry. Germany, the UK, France, and Italy are the main countries in this area that help the market grow. Lastly, the markets in the Middle East and Africa and Latin America are expected to grow a lot during the forecast period. This is because technology is getting better and people in these areas are buying more cars.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Lubrizol Corporation, Tianhe Chemicals, Infineum International Limited, Chevron Oronite Company LLC, Lanxess, Evonik Industries AG, BRB International BV, Croda International PLC, BASF SE, Afton Chemical, Krystal Lubetech Private Limited and other players.
Lubrizol Corporation-Company Financial Analysis
|Market Size in 2022
|US$ 19.09 Billion
|Market Size by 2030
|US$ 24.19 Billion
|CAGR of 3.0% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Type (Viscosity Index Improvers, Dispersants, Detergent, Anti-oxidants, Anti-wear Agent, Rust & Corrosion Inhibitors, Friction Modifiers, Extreme Pressure Additives, Pour Point Depressants, Others)
• By Application (Engine Oil, Hydraulic Fluid, Gear Oil, Metal Working Fluids, Transmission Fluid, Grease, Compressor Oil, Others)
• By Sector (Automotive, Industrial)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Lubrizol Corporation, Tianhe Chemicals, Infineum International Limited, Chevron Oronite Company LLC, Lanxess, Evonik Industries AG, BRB International BV, Croda International PLC, BASF SE, Afton Chemical, Krystal Lubetech Private Limited and other players.
|• Demand from the auto industry is growing.
• Demand for Industrial Lubricants with Better Quality
|• Move toward fuels that aren't oil
• Rising competition from a market that is not well organised and is broken up
• Automakers will use less metal parts in their cars.
Ans: Key stakeholders considered in the study:
Raw material vendors
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
end-use industries are the stake holder of this report
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Demand for renewable energy is growing and Developing economies are getting more market opportunities are the opportunity for Lubricating Oil Additives Market
Ans: Demand from the auto industry is growing and Demand for Industrial Lubricants with Better Quality are the drivers for Lubricating Oil Additives Market.
Ans: Lubricating Oil Additives Market Size was valued at USD 18.54 billion in 2021, and expected to reach USD 22.80 billion by 2028, and grow at a CAGR of 3.0 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Lubricating Oil Additives Market Segment, By Type
8.1 Viscosity Index Improvers
8.5 Anti-wear Agent
8.6 Rust & Corrosion Inhibitors
8.7 Friction Modifiers
8.8 Extreme Pressure Additives
8.9 Pour Point Depressants
9.Lubricating Oil Additives Market Segment, By Application:
9.1 Engine Oil
9.2 Hydraulic Fluid
9.3 Gear Oil
9.4 Metal Working Fluids
9.5 Transmission Fluid
9.7 Compressor Oil
10.Lubricating Oil Additives Market Segment, By Sector:
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profile
12.1 Lubrizol Corporation,
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Tianhe Chemicals
12.3 Infineum International Limited
12.4 Chevron Oronite Company LLC
12.6 Evonik Industries AG
12.7 BRB International BV
12.8 Croda International PLC
12.9 BASF SE
12.10 Afton Chemical
12.11 Krystal Lubetech Private Limited
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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