Global Lubricant Additives Market is segmented By Function (Dispersants, Viscosity Modifiers, Detergents, Anti-wear & Extreme Pressure Additives, Corrosion Inhibitors, Anti-oxidants, Emulsifiers, Friction Modifiers, Others), By Lubricants Type (Engine Oil, Hydraulic Oil, Transmission Fluid, Metalworking Oils, Greases, Industrial Gear Oils, Concrete Release Agents, Chainsaw Oils, Compressor Oils, Others), By End User (Automotive, Locomotive, Aerospace & Marine, Refrigeration, Construction, Metallurgy & Metal Working, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The Global Lubricant Additives Market is estimated to grow with a CAGR of 2.5 % during the forecast period (2022-2029).
Lubricant Additives are multi-functional chemical components that provide one or more functions in the fluid when used at a specific treat rate generally from < 1 to 35 percent.
Several factors impact Lubricant Additives Applications, and its market and one of them is growing in the automotive Industry.
Growing Automotive Industry and Lubricant Additives Applications
Automotive applications tend to be highly technical and present a broader market for both finished lubricants and Lubricant Additives.
In Asia-Pacific, growth in Lubricant Additives Market is due to emerging economies while Europe and North America have stringent environmental regulations that drive the market for alternative fuels such as compressed natural gas (CNG), liquefied petroleum gas (LPG), and bio-lubricants.
This is expected to decrease the demand for lubricants, because their life increases with these fuels, resulting in delayed oil change intervals.
The Global Lubricant Additives Market is directly impacted by the automotive industry and its sales growth.
Lubricant Additives Market is segmented based on Function into
Detergents, Anti-oxidants, Corrosion Inhibitors, Friction Modifiers, Dispersants, Viscosity Modifiers, Emulsifiers, Anti-wear & Extreme Pressure Additives, and Others. Further, based on Lubricant Type, the market is segmented into Hydraulic Oil, Engine Oil, Industrial Gear Oils, Metalworking Oils, Greases, Transmission Fluid, Concrete Release Agents, Chainsaw Oils, Compressor Oils, and Others.
The market is categorized based on End-user Industry into
Construction, Locomotive, Automotive, Metallurgy & Metal Working, Aerospace & Marine, Refrigeration, and Others.
The report segments the geographies by region which include North America, South America, Europe, Asia Pacific, and RoW.
Scope of the Report
The report covers factors impacting the market, Porter 5 Forces, Lubricant Additives Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Lubricant Additives Companies
The report profiles companies are occupying considerable Lubricant Additives Market Share. They are:
Afton Chemical Corporation, BASF SE, Chemtura Corporation, Chevron Oronite Company Llc, Croda International Plc, Evonik Industries Ag, Infineum International Ltd., Shamrock Shipping & Trading Limited, The Lubrizol Corporation, and Tianhe Chemicals Group.