About Lubricant Additives
Lubricant additives are organic or inorganic chemical compounds that are mixed in small amounts (usually 0.1 to 30%) with the base lubricant like oil, grease, or solid, to enhance or modify its properties for specific applications. Lubricant additives refer to the additives chemical products used in the lubricant, including antioxidants, antiwear agents, corrosion inhibitors, and other additives. 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 lubricant additives market is expected to benefit from a confluence of factors, including increasing demand from key sectors, technological advancements, environmental concerns, and regional growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.2% |
The lubricant additives market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhance and promote performance, along try to incorporate the latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Lubricant Additives market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lubrizol (United States), Infineum (United Kingdom), Chevron Oronite (United States), Afton (United States), Chemtura (United States), BASF (Germany), Tianhe (China), Adeka (Japan), Additiv Chemie Luers (Germany), Akzo Nobel (Netherland) and Dow Chemical (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are IPAC (India), Miracema Nuodex (Brazil), PCAS (China), Sanyo Chemical Industries (Japan) and Vanderbilt (United States).
Segmentation Overview
AMA Research has segmented the market of Global Lubricant Additives market by Type (Antioxidants, Antiwear Agents, Corrosion Inhibitors, Pour Point Depressants, Viscosity Index Improvers and Others), Application (Automotive and Industrial) and Region.
On the basis of geography, the market of Lubricant Additives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Solid will boost the Lubricant Additives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Lubricant Additives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand for Bio-Based and Environmentally Friendly Lubricant Additives
Market Growth Drivers:
Increasing Demand from Automotive and Industrial Sectors and Growing Awareness of Preventative Maintenance
Challenges:
Rising Raw Material Costs for Ingredients like Base Oils and Chemical Compounds
Restraints:
Strict Regulation Related to Safety Standards for Handling and Transporting Additives
Opportunities:
Manufacturer is Continuously Focusing on R&D to Develop New Lubricant Additive Formulation
Market Leaders and their expansionary development strategies
In October 2023, Infineum, a leading lubricant additives manufacturer, and Chevron Phillips Chemical Company, a major producer of base oils, announced a partnership to develop and market sustainable lubricant solutions. This collaboration aims to accelerate the development of bio-based and environmentally friendly additives.
In November 2023, Lubrizol, a leading additives manufacturer, launched its new "CeraPlus" series of friction modifiers. These additives claim to improve fuel economy and reduce wear in engine oils. This launch will help Lubrizol to maintain its position as a leader in this competitive market.
European Union (EU): Implements the REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) Regulation, which requires registration and assessment of potentially hazardous chemicals, including many lubricant additives.
Key Target Audience
Lubricant Additives Manufacturers, Suppliers & Distributors, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.