Lubricant Additives Market

Lubricant additives are the chemical components or blend added to lubricating oils at a specific ratio to impart one or more functions in the fluid. Generally, additives are multifunctional and are soluble in water, mineral oil or both. They are predominantly used to reduce the friction stress between surfaces. It helps to advance the present base oil, suppress undesirable base oil, and impart new properties to base oil with extreme pressure additives. Additives refines the performance characteristics of lubricating oils, and provide significant development of improved key movers and industrial machinery. Lubricant additives are essential ingredients in modern lubricants; these are performance products that help maintain insight engines, transmissions and after treatment equipment in design condition for as long as possible.

The global lubricant additives market is expected to develop  US$ 18.1 Bn by 2032, at a compound annual increase in price (CAGR) of 3.3% throughout the forecast period.

Consumption of lubricant additives in automotive sector such as in heavy- duty & passenger car lubricants and subsequently in metalworking fluids and industrial engine oils in the industrial sector bolster the lubricant additives market. As the power of engines has risen, the necessity for additives to avoid malfunction of engine has become more important. Earlier engines were lightly loaded and could withstand the loading on the bearings and valve train, corrosive protection of bearing metals was one of the early requirements for engine oils and now the additives are used to protect bearings and it has mild antiwear properties. Enhancement of system by using lubricant additives permits more effective use of energy resources, maintains low levels of exhaust emissions, and provides capabilities to employ alternative fuels, including those derived from renewable resources. A commitment to continuous improvement of lubricant additive technology facilitates the attainment of advanced engine designs to improve efficiency and conserve resources. However, volatility in prices of single additives and increasing adoption of electric vehicles restrain the lubricant additives market.

Detergents are anticipated to bolster lubricant additives market

Detergents are used as surface additives in various process related to preventing the deposits from settling or cleaning surfaces. Primarily detergents are used in automotive segment, where the demand for detergents as lubricant additives is increasing as it prevent dirt and oil insoluble products from settling on the engine surface, thus avoid the degradation of engine surface.

Asia Pacific will lead the growth in this market

Emerging economies like China, India, Russia, and Brazil are key growth countries for lubricant additives. China being a global hub for various manufacturing industries such as electronics, transportation equipment and consumer products where lubricants are used and additionally China is the largest automotive producer. In India the sales of automotive vehicles has been increasing from last few years which directly result in increasing demand for lubricants. India, China, and other Asian countries will take maximum advantages of their key strengths and which will help the market growth in this region.

Key Market Players
        •    Afton Chemical Corporation
        •    BASF SE
        •    BRB International BV
        •    Chemtura Corp.
        •    Chevron Corp.
        •    Eni S.p.A.
        •    Evonik Industries AG
        •    Infineum International Limited
        •    Jinzhou Kangtai Lubricant Additives Co. Ltd.
        •    King Industries Inc.
        •    Multisol Group
        •    R.T. Vanderbilt Holding Company
        •    Rhein Chemie Additives
        •    Shepherd Chemical Company
        •    The Elco Corporation
        •    The Lubrizol Corporation
        •    Tianhe Chemicals Co.
        •    Wuxi South Petroleum Additive Co.
        •    Others

lubricant additives Market Scope

Market Segments: Lubricant Additives Market 
        •    By Lubricant Type:
        o    Engine Oil
        o    Hydraulic Oil (Fluid)
        o    Transmission Fluids
        o    Turbine Oils
        o    Metal Working Oils
        o    Grease
        o    Other Lubricant Types
        •    By Function
        o    Dispersants and Emulsifiers
        o    Detergents
        o    Corrosion Inhibitors
        o    Extreme-pressure Additives
        o    Friction Modifiers
        o    Other Functions
        •    By End-User Industry
        o    Automotive and Other Transportation
        o    Energy (Power Generation)
        o    Construction Equipment
        o    Metallurgy and Metal Working
        o    Food Processing
        o    Other End-users Industries
        •    By Region 
        o    North America
        o    U.S.
        o    Canada
        o    Europe
        o    UK
        o    Germany
        o    France
        o    Asia Pacific
        o    China
        o    Japan
        o    India
        o    Middle East and Africa
        o    GCC
        o    Central & South America
        o    Brazil
        o    Mexico

Key Sources 
        •    Industry Associations
        •    Patent Websites
        •    Company Annual Reports
        •    Company Websites
        •    Key industry leaders
        •    Technology consultants
        •    Others

Key Questions Answered
        •    What are the key growth regions and countries?
        •    What are the important types and technologies being used?
        •    What are the market players doing, in terms of research and development?
        •    Which are the new applications for this market?
        •    What are the integrations happening?
        •    What is the recent news, developments, mergers, or large value deals?
        •    Where will the industry go in the long run?

Key Stakeholders
        •    Component Providers
        •    OEMs
        •    Technology solution providers
        •    Regulatory Authorities
        •    Research and Innovation Organizations
        •    Automotive manufacturers
        •    Lubricant Suppliers and Distributors
        •    Other Channel Partners
        •    Quality Control Organizations