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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 2023-2028 at a CAGR of 2.6% to reach about USD 19.06 billion by 2026.
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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. 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 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.
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The major types of lubricating oil additives are:
The market can be broadly categorised on the basis of its application segments into:
By sector, the industry is classified into:
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.
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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.
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 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 | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
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 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, 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Lubricating Oil Additives Market Analysis
8.1 Key Industry Highlights
8.2 Global Lubricating Oil Additives Historical Market (2018-2022)
8.3 Global Lubricating Oil Additives Market Forecast (2023-2028)
8.4 Global Lubricating Oil Additives Market by Type
8.4.1 Dispersants
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Viscosity Index Improvers
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Detergents
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Anti-Wear Agents
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Anti-Oxidants
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Rust and Corrosion Inhibitors
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Friction Modifiers
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2022)
8.4.7.3 Forecast Trend (2023-2028)
8.4.8 Emulsifiers
8.4.8.1 Market Share
8.4.8.2 Historical Trend (2018-2022)
8.4.8.3 Forecast Trend (2023-2028)
8.4.9 Extreme Pressure Additives
8.4.9.1 Market Share
8.4.9.2 Historical Trend (2018-2022)
8.4.9.3 Forecast Trend (2023-2028)
8.4.10 Pour Point Depressants (PPD)
8.4.10.1 Market Share
8.4.10.2 Historical Trend (2018-2022)
8.4.10.3 Forecast Trend (2023-2028)
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 (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Gear Oils
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Process Oils
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Industrial Oils
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Hydraulic Fluids
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Metalworking Fluids
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
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 (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Industrial Sector
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Lubricating Oil Additives Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Lubricating Oil Additives Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Lubricating Oil Additives Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Lubricating Oil Additives Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Lubricating Oil Additives Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Lubricating Oil Additives Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 The Lubrizol Corporation
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Chevron Oronite SA
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Afton Chemical Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Evonik Industries AG
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 BASF SE
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Lubricating Oil Additives Market: Key Industry Highlights, 2018 and 2028
2. Global Lubricating Oil Additives Historical Market: Breakup by Functional Type (USD Billion), 2018-2022
3. Global Lubricating Oil Additives Market Forecast: Breakup by Functional Type (USD Billion), 2023-2028
4. Global Lubricating Oil Additives Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Lubricating Oil Additives Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Lubricating Oil Additives Historical Market: Breakup by Sector (USD Billion), 2018-2022
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), 2018-2022
9. Global Lubricating Oil Additives Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Lubricating Oil Additives Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Lubricating Oil Additives Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. North America Historical Price Trends and Forecast 2018-2028
21. Europe Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Historical Price Trends and Forecast 2018-2028
23. Latin America Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Historical Price Trends and Forecast 2018-2028
25. Global Lubricating Oil Additives Market Structure
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 2023-2028 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.
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 2023-2028, 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 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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