Global Lubricant Additives Market Segments 2024, Forecast To 2033
5 Mar, 2024
The lubricant additives market has shown strong growth from $17.22 billion in 2023 to $18.11 billion in 2024, with a 5.2% CAGR. Growth in the historic period is attributed to automotive industry expansion, industrialization, emission standards, synthetic lubricants shift, fuel economy focus, and increased maintenance intervals. Expecting strong growth, the market is projected to reach $22.19 billion in 2028 with a 5.2% CAGR, driven by electric vehicle adoption, bio-based lubricants, ESG emphasis, climate change mitigation, urbanization, infrastructure development, and renewable energy focus. Major trends include predictive maintenance digitalization, additive technology advancements, nanotechnology R&D, customized additives, and e-commerce in lubricant additives.
Global Lubricant Additives Market Key Driver
The lubricant additives market is expanding with the increasing automotive sales. In 2022, global motor vehicle production reached 85.4 million units, indicating a 5.7% increase compared to the previous year.
Get A Free Sample Of The Global Lubricant Additives Market ReportGlobal Lubricant Additives Market Segments
The lubricant additives market covered in this report is segmented –
1) By Type: Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, Other Types
2) By Lubricant Type: Engine Oil, Transmission And Gear Oils, Hydraulic Fluids, Greases, Metal Working Fluids, Other Lubricant Types
3) By End User: Automotive And Transportation, Food Processing, Metal Working, Power Generation, Other End User
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the lubricant additives market in 2023. The regions covered in the lubricant additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Lubricant Additives Industry Players
Badische Anilin und Soda Fabrik Societas Europaea SE; Evonik Industries AG; Infineum International Limited; Chevron Oronite; The Lubrizol Corporation; Croda International PLC.; Afton Chemical Corporation; Exxon Mobil Corporation; Valvoline Inc.; Italmatch Chemicals S.p.A; Vanderbilt Chemicals LLC; Rhein Chemie Corporation; Laxness Corporation; Dover Chemical Corporation; Wuxi South Petroleum Additives; Akzo Nobel; Shell International B.V; China National Petroleum Corporation; Shamrock; Tianhe Chemicals; Chemtura Corporation; BRB International; Adeka Corporation; Dorfketal Chemicals (I) Pvt Ltd; Jinzhou Kangtai Lubricant Additives Co. Ltd; King Industries Inc.; Multisol Group; RT Vanderbilt Holding Company Inc.; Shepherd Chemical; Lubrizol Corp.; Sinopec Corp.; Total S.A.; Royal Dutch Shell plc; British Petroleum public limited company
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AIOps Lubricant Additives Market Overview
Lubricant additives are substances that are added to lubricants in order to improve their performance and extend their lifespan. Its primary function is to increase the quality of the base stock under varying operating situations and to meet the high-performance requirements of any machinery.
Lubricant Additives Global Market Report 2023 provides data on the global lubricant additives market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The lubricant additives market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.