Product Code: 56561
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.
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.
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.
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.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Growing Global Automotive Industry
- 4.2.2 Stringent Environmental Regulations Regarding Emissions
- 4.3 Market Restraints
- 4.3.1 High Price of Synthetic and Bio-based Lubricants
- 4.3.2 Extended Oil Change Intervals in Machinery and Automobiles
- 4.4 Value Chain/Supply Chain Analysis
- 4.5 Porter's Five Forces Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Function
- 5.1.1 Dispersants and Emulsifiers
- 5.1.2 Viscosity Index Improvers
- 5.1.3 Detergents
- 5.1.4 Corrosion Inhibitors
- 5.1.5 Oxidation Inhibitors
- 5.1.6 Extreme-pressure Additives
- 5.1.7 Friction Modifiers
- 5.1.8 Other Functions
- 5.2 Lubricant Type
- 5.2.1 Engine Oil
- 5.2.2 Hydraulic Oil (Fluid)
- 5.2.3 Transmission Fluids
- 5.2.4 Compressor Oils
- 5.2.5 Turbine Oils
- 5.2.6 Gear Oils
- 5.2.7 Metal Working Oils
- 5.2.8 Grease
- 5.2.9 Other Lubricant Types
- 5.3 End-user Industry
- 5.3.1 Automotive and Other Transportation
- 5.3.2 Energy (Power Generation)
- 5.3.3 Construction Equipment
- 5.3.4 Metallurgy and Metal Working
- 5.3.5 Food Processing
- 5.3.6 Other End-users Industries
- 5.4 Geography
- 5.4.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Mexico
- 188.8.131.52 Canada
- 5.4.2 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 Russia
- 22.214.171.124 Italy
- 126.96.36.199 France
- 188.8.131.52 Rest of Europe
- 5.4.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 India
- 18.104.22.168 Japan
- 22.214.171.124 South Korea
- 126.96.36.199 ASEAN Countries
- 188.8.131.52 Rest of Asia-Pacific
- 5.4.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Colombia
- 22.214.171.124 Rest of South America
- 5.4.5 Middle East & Africa
- 126.96.36.199 Saudi Arabia
- 188.8.131.52 South Africa
- 184.108.40.206 Qatar
- 220.127.116.11 United Arab Emirates
- 18.104.22.168 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Afton Chemical
- 6.4.2 BASF SE
- 6.4.3 BRB International
- 6.4.4 Chevron Corporation
- 6.4.5 Croda International PLC
- 6.4.6 DOG Deutsche Oelfabrik Gesellschaft fur chemische Erzeugnisse mbH & Co. KG
- 6.4.7 Dorfketal Chemicals (I) Pvt Ltd
- 6.4.8 DOVER CHEMICAL CORPORATION
- 6.4.9 Evonik Industries AG
- 6.4.10 Infineum International Limited
- 6.4.11 JINZHOU KANGTAI LUBRICANT ADDITIVES CO.,LTD
- 6.4.12 King Industries Inc.
- 6.4.13 LANXESS
- 6.4.14 Multisol
- 6.4.15 R.T. Vanderbilt Holding Company, Inc.
- 6.4.16 Shepherd Chemical
- 6.4.17 The Elco Corporation
- 6.4.18 The Lubrizol Corporation
- 6.4.19 Wuxi South Petroleum Additives Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Industrial Growth in Middle East & Africa
- 7.2 Growing Popularity of High-performance Lubricants in Asia-Pacific