Lubricant Additives Market Analysis

Global Lubricant Additives Market Overview

The  Lubricant Additives Market Size was valued at USD 17.60 Billion in 2023 and is projected to grow from USD 18.35 Billion in 2024 to USD 25.49 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.19% during the forecast period (2024 - 2032). The global market players and public authorities like centers and governments are focusing on the emerging need for the market to return to daily functioning. For the same, restrictions are being lifted followed by the increase in investments that is a result of the variation in market products and services that promise a higher degree of profitability. The investment will help in enhancing the service and product portfolio followed by their grand launch in the international market to meet the rising needs of a global target audience.

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Lubricant Additives Market Trends

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  Significant demand for the product in the automotive and transportation industry due to the stringent regulations regarding fuel emissions.

  
  

The lubricants additives market share has many aspects to expand upon during the forecast period. Environmental concerns are a major factor that predicts the future of any global market as climate change is an important and considerable fact in the 21st century. Lubricant formation and use are highly dependent on environmental concerns. The lubricant additives are important ingredients in the preparation of modern lubricants that will act as major driving forces for the market during the forecast period that will be ending in 2030.  

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, There has been a huge implication since the lubricants additives market size is increasing, and hence, stringent environmental regulation regarding the emission degrees and industrial growth in regional markets like that of the Middle East and Africa are the major factors that will drive the global growth for the market during the forecast period of 2021-2030. Also, the growing popularity of high-performance lubricants in the APAC region will give rise to great expansion opportunities for the market during the period that will be ending in 2030.

BASF Petronas Chemicals Sdn. Bhd., a BASF SE and Petronas Chemicals Group Bhd joint venture, announced in October 2022 its intention to increase the annual 2-Ethylhexanoic Acid production capacity of its Malaysian plant twofold. It is estimated that by the end of the fourth quarter of 2024, this enlargement will boost its total capacity to sixty thousand metric tons.

August 2022 - BASF opened a new production site in Singapore to supply APAC farmers with innovative crop protection solutions.

Lubricant Additives Market Segment Insights

Lubricant Additives Product Insights

The  Lubricant Additives Market segmentation, based on Product, includes dispersants, viscosity index improvers, detergents, anti-wear additives, antioxidants, and friction modifiers among others such as corrosion inhibitors and emulsifiers. Dispersants and viscosity improvers collectively accounted for over 40% of the global volume in 2015. Dispersants are widely used to prevent sludge or varnish or other deposit formation on surfaces. About three-quarters of their usage is in diesel and gasoline engine oils, where their usage is subjected to engine protection.

Lubricant Additives Application Insights

Based on Application, the  Lubricant Additives Market segmentation includes Automotive (HDV and LDV), Industrial (Metalworking Fluids, General Industrial Oil, and Industrial Engine Oil). These segments are further divided into heavy-duty & passenger car motor oils, general industrial oils, industrial engine oils, and metalworking fluids.

Passenger car motor oil was the dominant segment accounting for over 30% of the global volume in 2014 and is expected to maintain its dominance over the forecast period. EURO norms, regulating the amount of nitrogen oxide, carbon monoxide, soot, and hydrocarbons coupled with a shift in consumer preferences towards using operationally efficient and low-viscosity fuel is driving the need for passenger car motor oil.

Figure 2:  Lubricant Additives Market, by Application, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Lubricant Additives Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The distribution of the market segments, assets, raw materials, skilled professionals, and resources plays a major role in predicting the regional performance that is involved in the global market functioning. The lubricants additives market trends show that the APAC region will dominate the global growth of the market during the forecast period that will be ending in 2030.

Figure 3:  LUBRICANT ADDITIVES MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review 

The APAC region is emerging as one of the most favored locations for market manufacturers as this region offers low-cost production and there is a vivid presence of the rapidly growing markets in the region like South Korea, India, and China. There has been an increased annual vehicle sales recorded followed by supportive legislation and regulations that will have a positive impact on the market size in this region.

Lubricant Additives Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Lubricant Additives market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Lubricant Additives industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Lubricant Additives. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Lubricant Additives industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Lubricant Additives industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Lubricant Additives market players, including Afton Chemical (US), Total (France), Croda (UK), Chevron Oronite (US), and others, are attempting to increase market demand by funding R&D initiatives.

Afton is a manufacturer of vertical industrial pumps. It offers close control over design, proven hydraulics, integrity and manufacturing, engineering, and other services.

Also, Croda International is a company engaged in the manufacture of specialty chemicals. It offers adhesives, crop protection additives and adjuvants, seed enhancement and animal health chemicals, lubricant additives, and specialty additives for plastics, coatings, and polymers. The company also provides specialty ingredients for skin care, hair care, and sun care products.

Clariant introduces new additives at K 2022 in 2022 to promote the sustainable evolution of plastics. solutions with clariant additives to promote the use of less resources and more sustainable plastics. As we go toward circularity, new innovations provide applications with increased resilience to enable extended use and reuse. Additionally, overcome manufacturing obstacles to improve productivity and reduce carbon emissions during compounding and processing.

A new line of car lubricant oils from Goodyear Lubricants is scheduled to be distributed throughout South and Southeast Asia as well as New Zealand in 2023. The goal of the new lubricant product line is to lessen carbon footprint while adhering to current EURO 6 and BS-6 regulations. The tire behemoth is working with Assurance International Limited to develop a new range of environmentally friendly and sustainable goods.

Key Companies in the Lubricant Additives market include

• Afton Chemical (US)


• Total (France)


• Croda (UK)


• Chevron Oronite (US)


• BRB International (Netherlands)


• Lanxess (Germany)


• BASF (Germany)


• Infineum (UK)


• Evonik Industries (Germany)


• Lubrizol (US)

Lubricant Additives Industry Developments

In May 2020, a prominent and popular market player - Nestle decided to increase its investment strength by enhancing its footprints and further, promising a better portfolio in its production countries. Nestle has a plan of investment that is worth USD 103.4 million. The idea behind this is to expand its hand at the existing pet food plant in Tianjin and opt for its first production facility in Asia for plant products. 

In September 2022, Pixelligent Technologies was awarded a $1.9M grant from the U.S. Department of Energy advanced manufacturing office (AMO) for commercialization of PixClear nanoparticles for next-generation lubricants designed to withstand harsh operating conditions.

August 2022 – A project team formed by BASF and Maddy Plant works on researching possible uses of BASF’s innovative materials as well as employing industry-leading technologies that make their concept athleisure shoe “MADGAMMA – Intertekk Saturn” energy-efficient during production.

In May 2022, BASF SE expanded its lubricant additives market by launching a new product and doubling its production capacity for Irganox.

Lubricant Additives Market Segmentation

Lubricant Additives Product Outlook

• Dispersants


• Viscosity Index Modifiers


• Detergents


• Anti-Wear Additives


• Antioxidants


• Friction Modifiers

Lubricant Additives Application Outlook

• Automotive (HDV and LDV)


• Industrial (Metalworking Fluids, General Industrial Oil, Industrial Engine Oil)

Lubricant Additives Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America