Global Lubricant Additives Market, By Lubricant Type (Engine Oil, Hydraulic Oil, Transmission Fluids, General Industrial Oils, Gear Oil, Metal Working Fluids, Grease, Others), Function (Dispersants and Emulsifier, Viscosity Index Improves, Detergents, Corrosion Inhibitors, Oxidation Inhibitors, Extreme-pressure Additives, Friction Modifiers, Others), End-User (Automotive and Others Transportation, Power Generation, Heavy Equipment, Metallurgy and Metal Working, Food Processing, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Global Lubricant Additives Market
The lubricant additives market is expected to witness market growth at a rate of 6.05% in the forecast period of 2021 to 2028. Data Bridge Market Research report on lubricant additives market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of lubricant additives market.
Lubricant additives refer to the chemical compounds that are utilized for improving the performance of lubricants formulations, development of hypoid gears, steam turbines, marine, rail diesel engines, modern passenger’s car engines, and industrial processing machinery, among other equipment help to provide performance benefits.
The increase in demand from the automotive sector across the globe acts as one of the major factors driving the growth of lubricant additives market. The rise in the additive usage in base oil blending for longer service life and performance, and increase in the government initiations to decrease price of biomass derived fuels accelerate the market growth. The development of superior products that adhere to environmental regulations as well as consumer expectations, and surge in demand for improved quality of industrial lubricants further influence the market. Additionally, rapid industrialization, use of the product for the effective use of energy resources and expansion of various end use industries positively affect the lubricant additives market. Furthermore, rise in demand for renewable energy extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, inclinations towards alternative fuels and fluctuations in prices of crude oil are expected to obstruct the market growth. Expensive R&D process for formulating additive package in compliance with stringent environmental regulations and increase in the demand for hybrid and electric vehicles are projected to challenge the lubricant additives market in the forecast period of 2022-2029.
This lubricant additives market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on lubricant additives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Lubricant Additives Market Scope and Market Size
The lubricant additives market is segmented on the basis of lubricant type, function, and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of lubricant type, the lubricant additives market is segmented into engine oil, hydraulic oil, transmission fluids, general industrial oils, gear oil, metal working fluids, grease and others.
- On the basis of function, the lubricant additives market is segmented into dispersants and emulsifier, viscosity index improves, detergents, corrosion inhibitors, oxidation inhibitors, extreme-pressure additives, friction modifiers and others.
- On the basis of end-user, the lubricant additives market is segmented into automotive and others transportation, power generation, heavy equipment, metallurgy and metal working, food processing and others.
Lubricant Additives Market Country Level Analysis
The lubricant additives market is analyzed and market size, volume information is provided by country, lubricant type, function, and end-user as referenced above.
The countries covered in the global lubricant additives market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the lubricant additives market due to the various environmental and legal factors within the region. Asia-Pacific is expected to be the fastest growing market during the forecast period of 2022 to 2029 because of the growing environmental concerns about carbon emission in China, India, and Japan.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lubricant Additives Market Share Analysis
The lubricant additives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lubricant additives market.
Some of the major players operating in the lubricant additives market report are BASF SE, Lanxess AG, Afton Chemical, Chevron Corporation, BRB International, Evonik Industries AG, Croda International Plc, Infineum International Limited, The Lubrizol Corporation, Tianhe Chemicals Group, Dover Chemical Corporation, Shepherd Chemical Company, DOG Chemie, JINZHOU KANGTAI LUBRICANT ADDITIVES CO. LTD., Wuxi South Petroleum Additives Co. Ltd., Chemtura Corporation, Infineum International Limited, Shamrock Shipping and Trading Limited, Dorf Ketal, and Vanderbilt Chemicals, LLC, among others.
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