Industry Background:
The global lucrative Oil additive market is driven by the advancement in the automotive industry. Lubricating oil additives are chemical compounds which are added to lubricating oil to provide additional properties to enhance the present properties of the base oil. The additive helps in suppressing the undesirable properties of the base oil as well. Lubricating additives are applicable in the automotive industry to allow for the safe and efficient working of the engine, gearbox etc. These are also used in compressors and refrigerators to increase their lifespan. Demulsifiers are used to break oil water emulsions in Lubricants and removes water from the system. Lubricant Oil additives (LOA) act as a vital ingredient in modern technology.
The Global Lubricating Oil Additives market presents a comprehensive analysis of the Lubricating Oil Additives market by product type (Detergent-Dispersant, Antioxidation-corrosion, Oiliness Additives, Tackifier and Others), by end-user/application (Anti-oxidant, Lubrication, Depressant, Anti-foam and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. The key Manufacturers profiled in the report are Afton Chemicals (United States), Chevron Oronite (United States), BASF (Germany), Evonik Industries (Germany), Lubrizol (United States) and Lanxess (Germany). Additionally, other players that are part of this comprehensive study are BRB International (Netherlands), Afton Chemicals, Tianhe Chemicals (China), Jinzhou Kangtai Lubricant Additives (China), Wuxi South Petroleum Additives (China) and Jinzhou Runda Chemical (China).
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Afton Chemicals (United States), Chevron Oronite (United States), BASF (Germany), Evonik Industries (Germany), Lubrizol (United States) and Lanxess (Germany) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Shift from Mono-grade oil to Multi-grade oil in the vehicles.
Market Growth Drivers:
Increasing demand for oil additives in the automotive and industrial sector, Introduction of new automobiles like smart cars and aluminum trucks, Unit sales and new registration of new vehicles leading to the growth of this market and Regulations targeting fuel economy and emission.
Challenges:
Evolution of increasing electric vehicles is a major challenge faced by this market.
Restraints:
Growth in electric vehicles sales and Volatility in raw material prices. and Fluctuating raw material prices.
Opportunities:
Growing demand for engine oil and technological advancement of additives to reduce emission.
Regional Breakdown and Segment Analysis
This section of our report presents a realistic picture of the Global Lubricating Oil Additives industry. Investors and manufacturers can easily understand the inherent opportunities and challenges for their products in the geographical region of interest. For instance, while the North America holds majority of market share of the Lubricating Oil Additives, the China has emerged as a crucial market for several Lubricating Oil Additives brands.
The End users, such as Automotive, is boosting the Lubricating Oil Additives market and is anticipated to experience a steady growth during the forecast period.
The Sector, such as Automotive, is boosting the Lubricating Oil Additives market and is anticipated to experience a steady growth during the forecast period.
The Additive types, such as Antioxidant, is boosting the Lubricating Oil Additives market and is anticipated to experience a steady growth during the forecast period.
The Functional type, such as Dispersants, is boosting the Lubricating Oil Additives market and is anticipated to experience a steady growth during the forecast period.
The market is fragmented into numerous players adopting product launch and expansion of new strategies and the introduction of new and improved products is crucial for market penetration as the need for high-grade lubricants is increasing.
The regional segmentation covered in this report are:
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)