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Global Lubricating Oil Additives Market: By Functional Type: Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Agents, Anti-Oxidants, Others; By Application; By Sector; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Lubricating Oil Additives Market Outlook

The global lubricating oil additives market attained a value about USD 16.34 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 2.6% to reach about USD 19.06 billion by 2026.

 

Rising Demand for High Performance Engines in the Automotive Industry Bolstering the Market Growth

The growing sales of commercial and passenger vehicles are surging the deployment of lubricating oil additives to boost the performance of functional fluids, hence augmenting the growth of the industry. The expansion of production capacities by leading automobile companies such as Hyundai, Toyota, VW Group, Tata Motors, and GM, among others, are further increasing the demand for the lubricating oil additives.

 

Global Lubricating Oil Additives Market

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The evolution of the design of internal combustion engines is increasing heat and tension in the internal components of engines. This, in turn, is escalating the deployment of lubricating oil additives in engines with high revolution per minute (RPM) to enhance efficiency, which is invigorating the market growth. In addition, improvements in bearing technology and gear system are increasing the requirement of lubricating oil additives. Furthermore, the growing demand for bio-based lubricants owing to their eco-friendliness is providing impetus to the growth of the lubricating oil additives industry.

 

Lubricating Oil Additives: Industry Definition and Segmentation

Lubricating oil additives are compounds that are typically used to enhance the performance of lubricants, functional fluids, as well as the durability of engines. They are used to boost properties such as corrosion resistance and antioxidation to increase the efficiency of oils. Lubricating oil additives also provide favourable properties to enhance the functionality of oils, due to which they are increasingly deployed in numerous industrial and automotive applications.

The major functional types of lubricating oil additives are:

  • Dispersants
  • Viscosity Index Improvers
  • Detergents
  • Anti-Wear Agents
  • Anti-Oxidants
  • Rust and Corrosion Inhibitors
  • Friction Modifiers
  • Emulsifiers
  • Extreme Pressure Additives
  • Pour Point Depressants (PPD)
  • Others

The market can be broadly categorised on the basis of its application segments into:

  • Engine Oils
  • Gear Oils
  • Process Oils
  • Industrial Oils
  • Hydraulic Fluids
  • Metalworking Fluids
  • Others

By sector, the industry is classified into:

  • Automotive Sector
  • Industrial Sector

The EMR report looks into the regional markets of lubricating oil additives like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Development of Smart Cities to Augment the Market Growth of Lubricating Oil Additives

The Asia Pacific lubricating oil additives industry is projected to witness rapid growth owing to the initiation of mega construction projects, rapid economic development, and the introduction of favourable government policies.  For instance, the Indian government permitted 100% foreign direct investments (FDI) in oil and gas PSUs in July 2021. Moreover, the development of smart cities is increasing the deployment of lubricating oil to enhance the energy efficiency, which is expected to bolster the lubricating oil additive industry growth. As the power industry is one of the largest consumers of lubricating oil additives, with their deployment in various applications ranging from turbine oil to transformer oil, its robust growth is estimated to drive the market growth in the forecast period.

Engine oil is anticipated to be one of the leading applications of lubricating oil additives in the coming years. The rising demand for engine oils can be attributed to their versatility, which makes them ideal for use in the transportation industry. In addition, the increasing number of vehicles in China and the rising transportation demands in India and ASEAN countries is further surging the demand for lubricating oil additives in the transportation industry. Although the market witnessed a slight hindrance due to the COVID-19 induced nationwide lockdowns and mobility restraints, the extensive demand for engine oils in industrial use is projected to propel the growth of the industry in upcoming years.

 

Key Industry Players in the Global Lubricating Oil Additives Market

The report presents a detailed analysis of the following key players in the global lubricating oil additives markets, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • The Lubrizol Corporation
  • Chevron Oronite SA
  • Afton Chemical Corporation
  • Evonik Industries AG
  • BASF SE
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Functional Type, Application, Sector, Region
Breakup by Functional Type Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Agents, Anti-Oxidants, Rust and Corrosion Inhibitors, Friction Modifiers, Emulsifiers, Extreme Pressure Additives, Pour Point Depressants (PPD), Others
Breakup by Application Engine Oils, Gear Oils, Process Oils, Industrial Oils, Hydraulic Fluids, Metalworking Fluids, Others
Breakup by Sector Automotive Sector, Industrial Sector
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered The Lubrizol Corporation, Chevron Oronite SA, Afton Chemical Corporation, Evonik Industries AG, BASF SE, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Lubricating Oil Additives Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Lubricating Oil Additives Historical Market (2016-2020) 
    8.3    Global Lubricating Oil Additives Market Forecast (2021-2026)
    8.4    Global Lubricating Oil Additives Market by Functional Type
        8.4.1    Dispersants
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Viscosity Index Improvers
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Detergents
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Anti-Wear Agents
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Anti-Oxidants
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Rust and Corrosion Inhibitors
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2016-2020)
            8.4.6.3    Forecast Trend (2021-2026)
        8.4.7    Friction Modifiers
            8.4.7.1    Market Share
            8.4.7.2    Historical Trend (2016-2020)
            8.4.7.3    Forecast Trend (2021-2026)
        8.4.8    Emulsifiers
            8.4.8.1    Market Share
            8.4.8.2    Historical Trend (2016-2020)
            8.4.8.3    Forecast Trend (2021-2026)
        8.4.9    Extreme Pressure Additives
            8.4.9.1    Market Share
            8.4.9.2    Historical Trend (2016-2020)
            8.4.9.3    Forecast Trend (2021-2026)
        8.4.10    Pour Point Depressants (PPD)
            8.4.10.1    Market Share
            8.4.10.2    Historical Trend (2016-2020)
            8.4.10.3    Forecast Trend (2021-2026)
        8.4.11    Others
    8.5    Global Lubricating Oil Additives Market by Application
        8.5.1    Engine Oils
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Gear Oils
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Process Oils
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Industrial Oils
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Hydraulic Fluids
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
        8.5.6    Metalworking Fluids
            8.5.6.1    Market Share
            8.5.6.2    Historical Trend (2016-2020)
            8.5.6.3    Forecast Trend (2021-2026)
        8.5.7    Others
    8.6    Global Lubricating Oil Additives Market by Sector
        8.6.1    Automotive Sector
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Industrial Sector
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Lubricating Oil Additives Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    The Lubrizol Corporation
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Chevron Oronite SA
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3      Afton Chemical Corporation
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Evonik Industries AG
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    BASF SE
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Others
14    Industry Events and Developments

 

List of Figures and Tables

1.    Global Lubricating Oil Additives Market: Key Industry Highlights, 2016 and 2026
2.    Global Lubricating Oil Additives Historical Market: Breakup by Functional Type (USD Billion), 2016-2020
3.    Global Lubricating Oil Additives Market Forecast: Breakup by Functional Type (USD Billion), 2021-2026
4.    Global Lubricating Oil Additives Historical Market: Breakup by Application (USD Billion), 2016-2020
5.    Global Lubricating Oil Additives Market Forecast: Breakup by Application (USD Billion), 2021-2026
6.    Global Lubricating Oil Additives Historical Market: Breakup by Sector (USD Billion), 2016-2020
7.    Global Lubricating Oil Additives Market Forecast: Breakup by Sector (USD Billion), 2021-202
8.    Global Lubricating Oil Additives Historical Market: Breakup by Region (USD Billion), 2016-2020
9.    Global Lubricating Oil Additives Market Forecast: Breakup by Region (USD Billion), 2021-2026
10.    North America Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    North America Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Europe Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Europe Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Asia Pacific Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Asia Pacific Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Latin America Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Latin America Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Middle East and Africa Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Middle East and Africa Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    North America Historical Price Trends and Forecast 2016-2026
21.    Europe Historical Price Trends and Forecast 2016-2026
22.    Asia Pacific Historical Price Trends and Forecast 2016-2026
23.    Latin America Historical Price Trends and Forecast 2016-2026
24.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
25.    Global Lubricating Oil Additives Market Structure

Key Questions Answered in the Report

The global lubricating oil additives market attained a value of nearly USD 16.34 billion in 2020.

The market is projected to grow at a CAGR of 2.6% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 19.06 billion by 2026.

The growing demand for high performance engines and the increasing sales of passenger and commercial cars are augmenting the growth of the lubricating oil additives industry.

The market is expected to be driven by the introduction of various government initiatives, the increasing development of smart cities, and the growing demand for engine oils.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various functional types of lubricating oil additives in the industry are dispersants, viscosity index improvers, detergents, anti-wear agents, anti-oxidants, rust and corrosion inhibitors, friction modifiers, emulsifiers, extreme pressure additives, and pour point depressants (PPD), among others.

The major application segments of lubricating oil additives are engine oils, gear oils, process oils, industrial oils, hydraulic fluids, and metalworking fluids, among others.

The significant sectors of lubricating oil additives are automotive sector and industrial sector.

The major players in the industry are The Lubrizol Corporation, Chevron Oronite SA, Afton Chemical Corporation, Evonik Industries AG, and BASF SE, among others.

Analyst Review

The global lubricating oil additives market attained a value about USD 16.34 billion in 2020, driven by the growing demand for high performance engines. Aided by the increasing development of smart city, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 2.6%. The market is projected to reach approximately USD 19.06 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on functional types, the lubricating oil additives industry can be segmented into dispersants, viscosity index improvers, detergents, anti-wear agents, anti-oxidants, rust and corrosion inhibitors, friction modifiers, emulsifiers, extreme pressure additives, and pour point depressants (PPD), among others. By applications, the market is categorised into engine oils, gear oils, process oils, industrial oils, hydraulic fluids, and metalworking fluids, among others. On the basis of sectors, the industry is divided into automotive sector and industrial sector. The major regional markets for lubricating oil additives are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include The Lubrizol Corporation, Chevron Oronite SA, Afton Chemical Corporation, Evonik Industries AG, and BASF SE, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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