Lubricating Oil Additive Market, By Type (Dispersants, Detergents, Oxidation Inhibitors, Anti Wear Agents, Extreme Pressure Additives, and Viscosity Index Improvers), By Application (Automotive and Industrial), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

Lubricating oil additive market accounted for US$ 17.6 billion in 2020 and is estimated to be US$ 26.81 billion by 2030 and is anticipated to register a CAGR of 4.3%.

A lubricant is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It also acts as transmitting forces, transporting foreign particles, or heating or cooling the surfaces. The main 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. It is a chemical component mixed with oil to function as a single fluid. Some of the lubricant additives used with the oil such as zinc dialkyl dithiophosphate, chlorinated paraffins, sulfurized lard oils, phosphate esters, over based calcium sulfonates.

Rising demand from the automotive sector

The increasing sales of cars and commercial vehicles drive the lubricating oil additives. These additives are mainly used in engine oil, gear oil, transmission fluid, and hydraulic fluid. Globally, the number of automobile cars had increased in recent time as rise in living standards and changing concept of having cars. Moreover, the aircraft and marine transportation had also generated higher demand of lubricating oil, which in turn increase the usage of additives.

However, fluctuation in prices of raw materials are expected to be a major factor that hamper the growth of the market. It requires a proper R&D team for significant development of oil additive, hence higher the price of additive which decline the growth of the market.  

Lubricating oil additive market is segmented based on type, application, and region.

On the basis of type, the lubricating oil additive market is segmented into dispersants, detergents, oxidation inhibitors, anti-wear agents, extreme pressure additives, and viscosity index improvers. On the basis of application, the target market is segmented into automotive and industrial.

Regional Insights:

The lubricating oil additive market accounted for US$ 17.6 billion in 2020 and is estimated to be US$ 26.81 billion by 2030 and is anticipated to register a CAGR of 4.3%. On region the global Lubricating oil additive market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific registered the highest share in the lubricant additives market, and expected its dominance during the forecast period. Europe is holding second position in this market due to increasing transportation services

Lubricating Oil Additive Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global lubricating oil additive market report based on type, application, and region.

Lubricating Oil Additive Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the global lubricating oil additive market includes Lubrizol Corporation, BASF SE, Infineum International Limited, Tianhe Chemicals, Chevron Oronite Company LLC, Afton Chemical, Evonik Industries AG, Croda International PLC, BRB International BV, Lanxess.

• Lubrizol Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• BASF SE
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Infineum International Limited
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Tianhe Chemicals
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Afton Chemical
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Evonik Industries AG
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Croda International PLC
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• BRB International BV
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Lanxess
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies