Lubricant Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Function (Dispersants and Emulsifiers, Viscosity Index Improvers, Detergents, Corrosion Inhibitors, Oxidation Inhibitors, Extreme-pressure Additives, Friction Modifiers, and Other Functions), Lubricant Type (Engine Oil, Hydraulic Oil (Fluid), Transmission Fluids, General Industrial Oils, Gear Oils, Metal Working Fluids, Grease, and Other Lubricant Types), End-user Industry (Automotive and Other Transportation, Power Generation, Heavy Equipment, Metallurgy and Metal Working, Food Processing, and Other End-users), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa).

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

3 %

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Market Overview

The global lubricant additives market is expected to register a CAGR over 3% during the forecast period. Environmental concerns are a major factor in lubricant formulation and use. Lubricant additives are vital ingredients in modern lubricants and are driving the market.

  • Growing global automotive fleet is expected to drive the demand for the market during the forecast period.
  • Extended oil change intervals in machinery and automobiles is likely to hinder the market’s growth.
  • Growing popularity of high-performance lubricants in Asia-Pacific is projected to act as an opportunity for the market in future.

Scope of the Report

The lubricant additives market report include:

Function
Dispersants and Emulsifiers
Viscosity Index Improvers
Detergents
Corrosion Inhibitors
Oxidation Inhibitors
Extreme-pressure Additives
Friction Modifiers
Other Functions
Lubricant Type
Engine Oil
Hydraulic Oil (Fluid)
Transmission Fluids
General Industrial Oils
Gear Oils
Metal Working Fluids
Grease
Other Lubricant Types
End-user Industry
Automotive and Other Transportation
Power Generation
Heavy Equipment
Metallurgy and Metal Working
Food Processing
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
Colombia
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Qatar
United Arab Emirates
Rest of Middle East & Africa

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Key Market Trends

Detergents Anticipated to Record Healthy Demand in the Automotive Industry

  • Detergents are the surface additives involved in the process related to cleaning surfaces or protecting the deposits from settling.
  • During the equipment (engine) operation, dirt and oil insoluble products are formed as a result of oxidation. Detergents prevent these products from settling on engine surface, thus preventing the degradation of engine surface.
  • The number of automotive vehicles has been increasing globally over the recent past, owing to the higher living standards, increasing per capita income, and changing preferences of the consumers. 
  • The major developing countries, such as China, India, etc., has experienced a significant rise in active number of automotive vehicles, due to rising construction activities and economic development.
  • Detergents are primarily used in automotive lubricants, the demand for which is increasing at a rapid pace across the world, primarily in Asia-Pacific. Therefore, detergents are likely to witness a significant demand from the automotive industry, during the forecast period.

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Asia-Pacific Region Poised to Lead the Market

  • The Asia-Pacific region is expected to dominate the market over the forecast period. Majorly due to the rapid pace growth rate of the developing countries, such as China, India and ASEAN countries.
  • China, a global manufacturing hub, has witnessed the dynamic growth of various industries, such as consumer products, electronics, toys, and transportation equipment (like automobiles, rail cars etc.), all of which use lubricants.
  • China is the largest producer of automotive, with more than 27.8 million vehicles. Additionally, used car sales have also registered significant growth in the country.
  • In India, the sales of automotive vehicles has been increasing over the recent past. This has resulted in increased active number of automotive vehicles, in turn, leading to rising demand for lubricants.
  • The aforementioned factors are expected to offset the overall growth in the lubricant additives market, thereby projecting a rapid growth rate for lubricant additives in the Asia-Pacific region.

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Competitive Landscape

The lubricant additives market is partially consolidated. Key players in the lubricant additives market include Evonik Industries AG, Chevron Corporation, Infineum International Limited, The Lubrizol Corporation, and Afton Chemicals, among others.

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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 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Stringent Environmental Regulations Regarding Emissions

      2. 4.2.2 Other Drivers

    3. 4.3 Market Restraints

      1. 4.3.1 High Price of Synthetic and Bio-based Lubricants

      2. 4.3.2 Extended Oil Change Intervals in Machinery and Automobiles

    4. 4.4 Value Chain/Supply Chain Analysis

    5. 4.5 Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Function

      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 Hydraulic Oil (Fluid)

      3. 5.2.3 Transmission Fluids

      4. 5.2.4 General Industrial Oils

      5. 5.2.5 Gear Oils

      6. 5.2.6 Metal Working Fluids

      7. 5.2.7 Grease

      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 Processing

      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 Colombia

        4. 5.4.4.4 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Qatar

        4. 5.4.5.4 United Arab Emirates

        5. 5.4.5.5 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

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

    2. 6.2 Market Share/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 fur 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 R.T. Vanderbilt Holding Company, Inc.

      16. 6.4.16 Shepherd Chemical

      17. 6.4.17 The Elco Corporation

      18. 6.4.18 The Lubrizol Corporation

      19. 6.4.19 Wuxi South Petroleum Additives Co., Ltd.

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

    1. 7.1 Industrial Growth in Middle East & Africa

    2. 7.2 Growing Popularity of High-performance Lubricants in Asia-Pacific

** Subject to Availability

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