Lubricating Oil Additives Market

Lubricating Oil Additives Market worth $20.4 billion by 2026

The report "Lubricating Oil Additives Market by Type, Application (Engine Oil, Hydraulic Fluid, Gear Oil, Metal Working Fluid, Transmission Fluid, Grease, Compressor Oil), Sector (Automotive & Industrial), and Region - Global Forecast to 2026", is projected to reach USD 20.4 billion by 2026, at a CAGR of 2.3% from USD 18.2 billion in 2021.

Browse 332 market data Tables and 75 Figures spread through 308 Pages and in-depth TOC on "Lubricating Oil Additives Market by Type, Application (Engine Oil, Hydraulic Fluid, Gear Oil, Metal Working Fluid, Transmission Fluid, Grease, Compressor Oil), Sector (Automotive & Industrial), and Region - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/lubricating-oil-additive-market-126233103.html

The growth of the lubricating oil additives market is attributed to the demand from end-use industries such as power generation, construction, manufacturing, and automotive in the APAC region. Liberalization of foreign trade and investments and changes in industrial policies have triggered rapid industrialization in China over the past three decades. This is leading to the increasing demand for lubricating oil additives in the region. The adoption of Bharat Stage VI emission standards in India and strict regulations on SAPS content in engine oil are major factors leading to the demand for lubricating oil additives in this region.

The lubricating oil additives market is witnessing an upsurge due to the increasing demand for low viscous oil across the globe. Thinner lubricants require an extra dose of lubricating oil additives. The global rise in the number of vehicles has increased the demand for efficient lubricants, which is expected to drive the market

“Viscosity index improver is estimated to be the fastest-growing type in the lubricating oil additives market for the forecast period”

Viscosity index improvers are expected to account for the largest share of the overall lubricating oil additives market. This helps in improved performance and efficiency. There is a rising trend about the use of complex engines such as gasoline direct injection systems (GDI) in North America and Europe. These complex engines require less viscous lubricants to flow in the system. Therefore, higher quantities of viscosity index improvers are required for engine oil application.

“Engine Oil to be Fastest-Growing Application of Lubricating Oil Additives”

Engine oil additives are designed to protect passenger car engines, heavy-duty diesel engines, marine diesel engines, motorcycle engines, recreational vehicle engines, power tool engines, stationary natural gas engines, and others from mechanical wear and corrosion. It helps to enhance the vehicle’s performance by improving fuel efficiency. It also offers excellent lubrication at different temperatures and reduces environmental impact. The global engine oil consumption is expected to increase during the forecast period, and the quantity of additives added is expected to increase to meet stringent environmental norms.

“Automotive was the major sector for the lubricating oil additives market in 2020 in the world”

The lubricating oil additives market size for automotive accounted for the largest share of global lubricating oil additives, in terms of value, in 2020 this was led by the demand for passenger vehicles and commercial vehicles. The demand for lubricating oil additives in the automotive sector is expected to increase due to the rise in sales of passenger vehicles globally which leads to the demand for low-viscous and SAPS engine oil.

“APAC is estimated to be the largest region in lubricating oil additives market in 2020.”

High economic growth in emerging countries and the increasing disposable income of people make APAC an attractive market for lubricating oil additives. The significant growth in industrial production increased trade, and the rise in the number of vehicles are primarily responsible for the high consumption of lubricating oil additives in the region. Moreover, increasing investments in India’s manufacturing sector contribute to the increased demand for lubricating oil additives in the region. China, Japan, and India are the major markets for lubricating oil additives in the region. Additionally, regulations and specifications are being implemented for ashless lubricating oil additives, which is further expected to boost the demand for better quality lubricating oil additives during the forecast period.

The key market players profiled in the report include BASF SE (Germany), Chevron Oronite Company LLC (US), The Lubrizol Corporation (US), Afton Chemical (US), Evonik Industries AG (Germany), LANXESS AG (Germany), Croda International Plc. (UK), Infineum International Limited (UK), ADEKA CORPORATION (Japan),  BRB International (Netherland), International Petroleum and Additives Company (IPAC) (US), Tianhe Chemicals (China), Vanderbilt Chemicals, LLC(US), MOL-LUB Ltd. (Hungary),  Eni S.p.A. (Italy), Clariant AG (Switzerland), Jinzhou Kangtai Lubricant Additives Co., Ltd. (China), Eurolub GmbH (Germany), Wuxi South Petroleum Additives (China), Dorf Ketal (India), Cerion Nanomaterials (US), Shamrock Shipping and Trading Ltd. (Cyprus), Jinzhou Runda Chemical Co., Ltd. (China), MidContinental Chemical Company(US), and Wynn’s (US).

Don’t miss out on business opportunities in Lubricating Oil Additives Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Lubricating Oil Additives Market Size,  Share & Growth Report
Report Code
CH 6337
PR Published ON
10/26/2021
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Lubricating Oil Additives Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home