Lubricant Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Lubricant Additives Market Analysis and is Segmented by Product Type (Dispersants and Emulsifiers, Viscosity Index Improvers, Detergents, Corrosion Inhibitors, Extreme-pressure Additives, Friction Modifiers, and Other Functions), Lubricant Type (Engine Oil, Transmission and Hydraulic Fluids , Metalworking Fluid , General Industrial Oil , Gear Oil , Grease, Process Oil and Other Lubricant Types), End-user Industry (Automotive and Other Transportation, Power Generation, Heavy Equipment, Metallurgy, and Metal Working, Food and Beverage, and Other End-users Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast for lubricant additives in revenue (USD million) for the above-mentioned segments.

Lubricant Additives Market Size

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Lubricant Additives Market - Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Lubricant Additives Market Concentration

*Disclaimer: Major Players sorted in no particular order

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Lubricant Additives Market Analysis

The lubricant additives market is projected to register a CAGR of over 3% during the forecast period.

The Covid pandemic had a negative impact on the market. COVID-19-related restrictions led to decreased maintenance requirements from several industries. The major impact was observed in the automotive and construction industry, However, the market started growing steadily, owing to increased automotive and construction activities, since 2021.

  • Over the short term, the stringent environmental regulations regarding emissions, and industrial growth in the Middle East and Africa are major factors driving the growth of the market studied.
  • However, extended oil change intervals in machinery and automobiles are a key factor anticipated to restrain the growth of the target industry over the forecast period.
  • Nevertheless, the growing popularity of high-performance lubricants in Asia-Pacific is likely to create lucrative growth opportunities for the global market soon.
  • Asia-Pacific is estimated to witness healthy growth over the assessment period in the lubricant additives market due to the wide usage of lubricants in end-use application segments, such as automotive, and construction due to their desirable properties.

Lubricant Additives Market Trends

This section covers the major market trends shaping the Lubricant Additives Market according to our research experts:

Increasing Demand from Automotive and Other Transportation Industry.

  • Automotive and other transportation media, such as aircraft and marine, are the largest markets for lubricants.
  • Engine designs have been continually improved to enhance performance, increase efficiency, and meet environmental emission regulations.
  • Engine oils, gear oils, transmission oils, greases, and compressor oils are the most widely used lubricants in all kinds of automobiles. Lubricants have a good share in the aftermarket and among OEMs.
  • Medium-duty and high-performance lubricants are used extensively in vehicle components, such as gears, transmission systems, and engines, which are subjected to high loads and rapid rubbing.
  • The automotive industry has been growing rapidly increasing the usage of lubricants and additives, over the past few years, according to OICA, the total production of vehicles (all types) in the year 2021 was 80,145,988 units and registered a growth of 3% when compared to 77,711,725 units in 2020.
  • In North America, the United States also has one of the largest automotive industries globally. According to OICA, the automotive production in 2021 accounted for 91,67,214 units, an increase of 4% in comparison to the production in 2020, which was reported to be 88,22,399 units.
  • The strong growth of composites in the aerospace industry, particularly in commercial air transport, is poised to lead to changes in corrosion inhibitors and removal fluids.
  • Furthermore, according to the International Air Transport Association (IATA), the global revenue for commercial airlines was valued at USD 373 billion in 2020 and was estimated at USD 472 billion in 2021, registering a growth rate of 26.7% Y-o-Y. Furthermore, the revenue is expected to reach USD 658 billion by 2022.
  • Recently, aircraft manufacturers are looking for ways to accelerate production to fill order backlogs. For instance, according to the Boeing Commercial Outlook 2022-2041, the total global deliveries of new airplanes are estimated to be 41,170 by 2041. The global airplane fleet amounted to around 25,900 units as of the year 2019 and the fleet number is likely to reach 47,080 units by 2041.
  • All the above factors are expected to drive the market for lubricant additives in the coming years.
Automotive Production, in Million Units, Global, 2017-2021

China to Dominate the Asia-Pacific Region

  • In the Asia-Pacific region, China dominated the regional market share. With growing food, and automotive industrial activities.
  • China is the leading manufacturer of the automotive industry, According to, OICA, the country has also produced 26,082,220 units of vehicles in 2021, a 3% growth in comparison to the same period last year.
  • The food processing industry is moving toward maturity in the country, witnessing moderate growth. Processed and packaged frozen foods are increasingly becoming popular. While in the beverage industry, the trend for the consumption of healthy, natural, and convenient ready-to-drink smoothies, juices, and yogurts has been emerging.
  • China is the leading consumer of metalworking fluids. The growth for metalworking is expected to be driven by the robust growth in construction activities and increasing shipbuilding and aircraft orders in the region.
  • The Chinese aircraft and spacecraft industry has depicted significant growth over the years. In China, according to the Boeing Commercial Outlook 2022-2041, around 8,485 new deliveries will be made by 2041 with a market service value of USD 545 billion. 
  • Based on the aforementioned aspects, China is expected to dominate the Asia-Pacific region in the forecast period.
Lubricant Additives Market - Growth Rate by Region, 2022-2027

Lubricant Additives Industry Overview

The global lubricant additives market is partially consolidated in nature, The major players include Evonik Industries AG, Italmatch Chemicals S.p.A (The Elco Corporation), Infineum International Limited, The Lubrizol Corporation, and Afton Chemical Corporation, among others (not in any particular order).

Lubricant Additives Market Leaders

  1. Evonik Industries AG

  2. Infineum International Limited

  3. The Lubrizol Corporation

  4. Afton Chemical Corporation

  5. Italmatch Chemicals S.p.A (The Elco Corporation)

*Disclaimer: Major Players sorted in no particular order

Lubricant Additives Market - market concentration.png
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Lubricant Additives Market News

  • In May 2022, BASF SE launched a new product and doubles its production capacity for Irganox, The company has strengthened its business portfolio for its lubricants additives market at its site on Jurong Island, Singapore.
  • In October 2022, BASF Petronas Chemicals Sdn. Bhd., the joint venture between Germany's BASF SE and Petronas Chemicals Group Bhd., announced the expansion of a 2-Ethylhexanoic Acid plant in Malaysia doubling the joint venture's annual production capacity of 2-EHAcid to 60,000 metric tons by the fourth quarter of 2024.

Lubricant Additives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Stringent Environmental Regulations Regarding Emissions

      2. 4.1.2 Industrial Growth in Middle-East and Africa

    2. 4.2 Restraints

      1. 4.2.1 Extended Oil Change Intervals in Machinery and Automobiles

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Product Type

      1. 5.1.1 Dispersants and Emulsifiers

      2. 5.1.2 Viscosity Index Improvers

      3. 5.1.3 Detergents

      4. 5.1.4 Corrosion Inhibitors

      5. 5.1.5 Oxidation Inhibitors

      6. 5.1.6 Extreme-pressure Additives

      7. 5.1.7 Friction Modifiers

      8. 5.1.8 Other Functions

    2. 5.2 Lubricant Type

      1. 5.2.1 Engine Oil

      2. 5.2.2 Transmission and Hydraulic Fluid

      3. 5.2.3 Metalworking Fluid

      4. 5.2.4 General Industrial Oil

      5. 5.2.5 Gear Oil

      6. 5.2.6 Grease

      7. 5.2.7 Process Oil

      8. 5.2.8 Other Lubricant Types

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive and Other Transportation

      2. 5.3.2 Power Generation

      3. 5.3.3 Heavy Equipment

      4. 5.3.4 Metallurgy and Metal Working

      5. 5.3.5 Food and Beverage

      6. 5.3.6 Other End-users Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Mexico

        3. 5.4.2.3 Canada

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Russia

        4. 5.4.3.4 Italy

        5. 5.4.3.5 France

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Afton Chemical

      2. 6.4.2 BASF SE

      3. 6.4.3 BRB International

      4. 6.4.4 Chevron Corporation

      5. 6.4.5 Croda International PLC

      6. 6.4.6 DOG Deutsche Oelfabrik Gesellschaft für chemische Erzeugnisse mbH & Co. KG

      7. 6.4.7 Dorfketal Chemicals (I) Pvt Ltd

      8. 6.4.8 DOVER CHEMICAL CORPORATION

      9. 6.4.9 Evonik Industries AG

      10. 6.4.10 Infineum International Limited

      11. 6.4.11 Jinzhou Kangtai Lubricant Additives Co. Ltd

      12. 6.4.12 King Industries Inc.

      13. 6.4.13 LANXESS

      14. 6.4.14 Multisol

      15. 6.4.15 RT Vanderbilt Holding Company Inc.

      16. 6.4.16 Shepherd Chemical

      17. 6.4.17 Italmatch Chemicals SpA (The Elco Corporation)

      18. 6.4.18 The Lubrizol Corporation

      19. 6.4.19 Wuxi South Petroleum Additives Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Popularity of High-performance Lubricants in Asia-Pacific

**Subject to Availability
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Lubricant Additives Industry Segmentation

Lubricant additives are organic or inorganic compounds dissolved or suspended as solids in oil. Specifically, they are added to provide one or more functions in the fluid, when used at a specific treatment rate. The lubricant additives market is segmented by product type, lubricant type, end-user industry, and geography. By product type, the market is segmented by dispersants and emulsifiers, viscosity index improvers, detergents, corrosion inhibitors, oxidation inhibitors, extreme-pressure additives, friction modifiers, and other functions. By lubricant type, the market is segmented by the engine oil, transmission and hydraulic fluids, metal working fluids, general industrial oil, gear oil, grease, process oil, and other lubricant types. By end-user industry, the market is segmented by automotive and other transportation, power generation, heavy equipment, metallurgy, and metal working, food and beverage, other end-user industries. The report also covers the market size and forecasts for the lubricant additives market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Product Type
Dispersants and Emulsifiers
Viscosity Index Improvers
Detergents
Corrosion Inhibitors
Oxidation Inhibitors
Extreme-pressure Additives
Friction Modifiers
Other Functions
Lubricant Type
Engine Oil
Transmission and Hydraulic Fluid
Metalworking Fluid
General Industrial Oil
Gear Oil
Grease
Process Oil
Other Lubricant Types
End-user Industry
Automotive and Other Transportation
Power Generation
Heavy Equipment
Metallurgy and Metal Working
Food and Beverage
Other End-users Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Mexico
Canada
Europe
Germany
United Kingdom
Russia
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Lubricant Additives Market Research FAQs

The Lubricant Additives Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Evonik Industries AG, Infineum International Limited, The Lubrizol Corporation, Afton Chemical Corporation and Italmatch Chemicals S.p.A (The Elco Corporation) are the major companies operating in the Lubricant Additives Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Lubricant Additives Market.

The report covers the Lubricant Additives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Lubricant Additives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Lubricant Additives Industry Report

Statistics for the 2024 Lubricant Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lubricant Additives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Lubricant Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)