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Lubricant Additives Market: By Product Type, By Application, and Region Forecast 2019-2030
Lubricant Additives Market: By Product Type, By Application, and Region Forecast 2019-2030
Lubricants Additive Market is estimated to be valued at US$ 15.6 billion in 2023 and is poised to grow at a CAGR of 3.8% from 2024 to 2030. Lubricant additives market is being driven mainly by high growth in the developing nations along with efforts toward fuel economy. In order to achieve fuel economy, extensive research is being done to improve lubricant additive properties and characteristics to comply with the technological changes in modern engines and accessories. Increasing marine and aviation transportation, growing automotive industry, and improved emission regulations in conjunction with fuel economy standards are driving the lubricant additives market growth. The enhancement in durability allows effective use of energy resources, provides capabilities to employ alternative fuels, and maintains low levels of exhaust emissions. The use of environment-friendly fuels, including renewable fuels, in both automotive and industrial engines, is expected to drive the demand for lubricant additives over the forecast period.
However, higher drain intervals for high-grade lubricants inhibit the market growth owing to lubricant solutions with decreased maintenance costs and servicing. In addition, the fluctuations in the lubricant market are responsible for the relatively low growth rate of the world lubricant additives market. Global lubricant additives market is characterized by the presence of a large number of players. Companies are thriving on various applications of tactics such as merger, acquisition, product launches, and others. For instance, Italmatch Chemicals is planning to acquire Afton Chemical’s metalworking fluid business which can prove beneficial for the former’s portfolio and help in further expansion. Lanxess, meanwhile, manages to take over Chemtura which will boost its additives market.
Study Period
2024-2030Base Year
2023CAGR
3.8%Largest Market
Asia PacificFastest Growing Market
North America
Lubricant additive are primarily used to enhance fuel efficiency, improve performance, and engine protection. The lubricant additives are expected to play a vital role in the coming years, towards fuel economy, especially contributing to emerging technologies like Dual Clutch Technology (DCT). With increasing regulatory pressure on improving the fuel efficiency of vehicles and reducing greenhouse gas emissions, there has been a tremendous development in lubricating oil formulations.
Blenders have significantly invested in R&D for developing superior products that adhere to environmental regulations as well as consumer expectations. Since additives play a significant role in base oil blending and subsequent formulations as they are critical materials in improving specification and performance of oils. The trend as stated above has had an enormous impact on the industry’s development over the past and is expected to continue driving the global lubricant additives market.
Asia-Pacific, being the global manufacturing hub of the world, is the largest market for lubricant additives. Emerging economies such as China and India, and growing activities in the construction, industrial and automotive sector provide a further push to the market. Lower cost of production has provided a great opportunity for the global players to place them in the Asia-Pacific region, especially, in the developing nations such as China and India. Asia-Pacific will continue to lead the market till 2019, followed by North America and Europe. Latin America will be the second most growing market, leaving behind developed economies, such as North America and Europe. Europe will experience the slowest growth among all the regions due to economic slowdown and use of high quality lubricants.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 15.6 billion |
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Market CAGR |
3.8% |
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By Product Type |
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By Application |
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By Region |
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The global lubricants additive market size was valued at US$ 15.6 billion in 2023 and is projected to grow at a CAGR of 3.8% from 2024 to 2030.
The key segments covered in the lubricants additive market are: by product type, application and geography
North America is the fastest-growing for lubricants additive market
| 1. Executive Summary |
| 2. Global Lubricants Additive Market Introduction |
| 2.1.Global Lubricants Additive Market - Taxonomy |
| 2.2.Global Lubricants Additive Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Application |
| 2.2.3.Region |
| 3. Global Lubricants Additive Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Lubricants Additive Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Lubricants Additive Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Dispersants |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Viscosity index improvers |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Detergents |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Anti-wear agents |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Antioxidants |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Corrosion inhibitors |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Friction modifiers |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 5.8. Emulsifiers |
| 5.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.8.3. Market Opportunity Analysis |
| 5.9. Others |
| 5.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.9.3. Market Opportunity Analysis |
| 6. Global Lubricants Additive Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Automotive lubricants |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Industrial lubricants |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Lubricants Additive Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. North America Lubricants Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Dispersants |
| 8.1.2.Viscosity index improvers |
| 8.1.3.Detergents |
| 8.1.4.Anti-wear agents |
| 8.1.5.Antioxidants |
| 8.1.6.Corrosion inhibitors |
| 8.1.7.Friction modifiers |
| 8.1.8.Emulsifiers |
| 8.1.9.Others |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Automotive lubricants |
| 8.2.2.Industrial lubricants |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9. Europe Lubricants Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Dispersants |
| 9.1.2.Viscosity index improvers |
| 9.1.3.Detergents |
| 9.1.4.Anti-wear agents |
| 9.1.5.Antioxidants |
| 9.1.6.Corrosion inhibitors |
| 9.1.7.Friction modifiers |
| 9.1.8.Emulsifiers |
| 9.1.9.Others |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Automotive lubricants |
| 9.2.2.Industrial lubricants |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10. Asia Pacific (APAC) Lubricants Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Dispersants |
| 10.1.2.Viscosity index improvers |
| 10.1.3.Detergents |
| 10.1.4.Anti-wear agents |
| 10.1.5.Antioxidants |
| 10.1.6.Corrosion inhibitors |
| 10.1.7.Friction modifiers |
| 10.1.8.Emulsifiers |
| 10.1.9.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Automotive lubricants |
| 10.2.2.Industrial lubricants |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11. Middle East and Africa (MEA) Lubricants Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Dispersants |
| 11.1.2.Viscosity index improvers |
| 11.1.3.Detergents |
| 11.1.4.Anti-wear agents |
| 11.1.5.Antioxidants |
| 11.1.6.Corrosion inhibitors |
| 11.1.7.Friction modifiers |
| 11.1.8.Emulsifiers |
| 11.1.9.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Automotive lubricants |
| 11.2.2.Industrial lubricants |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12. Latin America Lubricants Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Dispersants |
| 12.1.2.Viscosity index improvers |
| 12.1.3.Detergents |
| 12.1.4.Anti-wear agents |
| 12.1.5.Antioxidants |
| 12.1.6.Corrosion inhibitors |
| 12.1.7.Friction modifiers |
| 12.1.8.Emulsifiers |
| 12.1.9.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Automotive lubricants |
| 12.2.2.Industrial lubricants |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Chevron Corp |
| 13.2.2.Afton Chemical Corporation |
| 13.2.3.The Lubrizol Corporation |
| 13.2.4.Infineum International Limited |
| 13.2.5.BASF SE |
| 13.2.6.BRB International BV |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.