Lubricating Oil Additives Market Research Report – Forecast to 2030

Lubricating Oil Additives Market: Information by End-User (Automotive, Industrial, and Others), Type (Antioxidant, Viscosity Index Improver, Detergent, and Others), Application (Engine Oil, Gear Oil, and Others), and Region—Forecast till 2030

ID: MRFR/CnM/4855-HCR | February 2021 | Region: Global | 100 pages         

Lubricating Oil Additives Market

Lubricating Oil Additives Market is projected to be worth USD 21.80 Billion by 2030, registering a CAGR of 3.87% during the forecast period (2021 - 2030).

Segmentation

By End-User Automotive Industrial
By Type Antioxidant Viscosity Index Improver Detergent
By Application Engine Oil Gear Oil

Key Players

  • Lubrizol Corporation (US)
  • BASF SE (Germany)
  • Infineum International Limited (UK)
  • Tianhe Chemicals (China)
  • Chevron Oronite Company LLC (US)
  • Afton Chemical (US)
  • Evonik Industries AG (Germany)
  • Croda International PLC (UK)
  • BRB International BV (Netherlands)
  • Lanxess (Germany)
  • Krystal Lubetech Private Limited (India).

Drivers

  • Increasing demand for additives in the automotive industry
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Lubricating Oil Additives Market Overview


Lubricating oil additives are chemical compounds added to lubricating oil to provide new properties or enhance the present properties of the base oil. Some additives help suppress the undesirable properties of the base oil as well. These additives are mainly applicable in the automotive industry to allow for the safe and efficient working of the engine, gearbox, and other assembly. Moreover, this product is used in compressors and refrigeration systems to increase the lifespan of the machine. The additives that enhance the existing properties of the lubricating oil are anti-foaming agents, corrosion inhibitors, and antioxidants, whereas pour-point depressants and viscosity index improvers help suppress the undesirable properties of the base oils. In addition, detergents, extreme-pressure additives, and emulsifiers provide new properties to the base oils.


The increasing demand for additives in the automotive industry is likely to drive market growth during the forecast period. These additives enhance the properties of the lubricants thus providing efficient and economic performance of the engine. Furthermore, these compounds prevent corrosion, improve the viscosity index, and act as antioxidants to extend hardware durability. This is expected to boost the demand for the product in the years to follow. In addition, lubricating oil additives can be used as detergents to stabilize the dirt in oil formulations. The varied applications of these additives are likely to propel market growth during the assessment period.


The key players operating in this market are adopting various business strategies such as product launches, expansions, joint ventures, agreements, R&D, and acquisitions to gain significant market shares. For instance, on 7 September 2017, BASF India Limited, a subsidiary of BASF SE, inaugurated its new technical laboratory for fuel and lubricant solutions at its Navi Mumbai plant in India. The laboratory mainly focuses on oil packages for turbines, hydraulics and compressors, and the latest-generation tractors by achieving better fuel efficiencies and enhancing the lifetime of the complex machinery. 


Global Lubricating Oil Additives Market Share, by End-User, 2017 (%)


Lubricating Oil Additives Market Share


Source: MRFR analysis


Regional Analysis


The global lubricating oil additives market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global lubricating oil additives market in 2017. This can be attributed to the increased demand for the product in the automotive sector, especially in emerging economies such as China, India, Japan, Indonesia, and South Korea. Moreover, the growth of the industrial sector and the need for increasing the efficiency of machines are likely to fuel the growth of the lubricating oil additives market during the forecast period. 


North America and Europe are the other substantial markets for lubricating oil additives. North America being the second-largest region in automotive production, the demand for lubricating oil additives is expected to increase in the coming years. The rising need to reduce gas emissions and enhance fuel economy, coupled with advancements in the automotive sector, is projected to boost the demand for the product in Europe. The major countries in this region contributing to market growth are Germany, the UK, France, and Italy. Lastly, the markets in the Middle East & Africa and Latin America are estimated to witness significant growth during the forecast period owing to technological advancements and the increasing demand for automobiles in these regions.


Market Segmentation


The global lubricating oil additives market has been segmented on the basis of end-user, type, application, and region.


Based on end-user, the global lubricating oil additives market has been segregated into automotive, industrial, and others.


Considering the type of additive, the global lubricating oil additives market has been divided into antioxidant, demulsifier, viscosity index improver, detergent, friction modifier, anti-foam agent, corrosion inhibitor, and others.


By application, the global lubricating oil additives market has been categorized as engine oil, gear oil, hydraulic fluid, industrial oil, process oil, and others.


The global lubricating oil additives market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Key Players


Some of the leading players in the global lubricating oil additives market are the Lubrizol Corporation (US), BASF SE (Germany), Infineum International Limited (UK), Tianhe Chemicals (China), Chevron Oronite Company LLC (US), Afton Chemical (US), Evonik Industries AG (Germany), Croda International PLC (UK), BRB International BV (Netherlands), Lanxess (Germany), and Krystal Lubetech Private Limited (India).

Industry News:

In February 2020, Hot Shot’s Secret introduced a new Never Rust Lubricant that aims to protect metal parts from rusting and running for a long time. The product is spray and is easy to apply on the surface of the metal.


Intended Audience



  • Lubricating oil additives manufacturers

  • Traders and distributors of lubricating oil additives

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   (2022-2030): Substantial CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   End-User, Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Lubrizol Corporation (US), BASF SE (Germany), Infineum International Limited (UK), Tianhe Chemicals (China), Chevron Oronite Company LLC (US), Afton Chemical (US), Evonik Industries AG (Germany), Croda International PLC (UK), BRB International BV (Netherlands), Lanxess (Germany), and Krystal Lubetech Private Limited (India).
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   increasing demand for additives in the automotive industry


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Frequently Asked Questions (FAQ) :

Lubricating oil additives are added to lubricating oil to improve existing properties while providing new properties to the base oil. Their major end-use industries include automotive and industrial sectors.

Asia Pacific holds the largest share in the global lubricating oil additives market followed by North America and Europe, respectively.

BASF SE (Germany), the Lubrizol Corporation (US), Infineum International Limited (UK), Chevron Oronite Company LLC (US), Tianhe Chemicals (China), Afton Chemical (US), Croda International PLC (UK), Evonik Industries AG (Germany), BRB International BV (Netherlands), Krystal Lubetech Private Limited (India), and Lanxess (Germany), are some of the leading players in the global lubricating oil additives market.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global lubricating oil additives market adopt to gain a larger competitive advantage.