Lubricant Additives Market: By Product Type (Dispersants, Viscosity index improvers, Detergents, Anti-wear agents, Antioxidants , Corrosion inhibitors, Friction modifiers, Emulsifiers, Others), By Application (Automotive Lubricant, Industrial Lubricants ), and Geography  

Lubricants Additive Market is estimated to be valued at USD x billion in 2022 and is poised to grow at a CAGR of x% from 2023 to 2029. 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. The report gives comprehensive outlook on Lubricant Additive market across the regions like North America, Europe, Asia Pacific, Latin America, Middle East Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies global Lubricant Additives market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market.