Global Lubricant Additives Market Size and Forecast 2024-2033|Badische Anilin und Soda Fabrik Societas Europaea SE, Evonik Industries AG, Infineum International Limited, Chevron Oronite, The Lubrizol Corporation

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The Lubricant Additives by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Lubricant Additives , The lubricant additives market size has grown strongly in recent years. It will grow from $17.22 billion in 2023 to $18.11 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to automotive industry growth, industrialization and machinery usage, stringent emission standards, shift towards synthetic lubricants, focus on fuel economy, increased maintenance intervals.

The lubricant additives market size is expected to see strong growth in the next few years. It will grow to $22.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to electric vehicle adoption, bio-based lubricants, continued emphasis on esg, climate change mitigation, urbanization and infrastructure development, focus on renewable energy.. Major trends in the forecast period include digitalization in predictive maintenance, advancements in additive technology, r&d in nanotechnology, customized additive solutions, e-commerce in lubricant additives.

The increasing automotive sales are expected to boost the growth of the lubricant additives market going forward. The automotive industry consists of a wide range of organizations and enterprises with the essential objective of designing, developing, marketing, producing, and selling motor vehicles. Lubricant additives are used in automotive engines to improve the performance and extend the life of the lubricant, thus, the usage of lubricant additives increased in the automotive sector. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase. Therefore, the increasing automotive sales are driving the growth of the lubricant additives market.

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The lubricant additives market covered in this report is segmented –

1) By Type: Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, Other Types

2) By Lubricant Type: Engine Oil, Transmission And Gear Oils, Hydraulic Fluids, Greases, Metal Working Fluids, Other Lubricant Types

3) By End User: Automotive And Transportation, Food Processing, Metal Working, Power Generation, Other End User

Major companies operating in the lubricant additives market are innovating new products, such as the Infineum M8040 additive package, to provide reliable services to customers. The Infineum M8040 additive package is a single oil solution specifically designed to enhance operational efficiency for two-stroke engines running on very low sulfur fuel oil (VLSFO) with a sulfur content of less than 0.5%. For instance, in May 2022, Infineum International Limited, a UK-based chemicals company, launched the Infineum M8040 additive package. The Infineum M8040 additive package is engineered to provide outstanding performance in engine cleanliness and is approved for MAN B and W two-stroke engines, including Mark 9 and higher. It eliminates the need to switch between 40 and 100 boron nitride (BN) lubricants and offers a more efficient and sustainable solution for marine engine lubrication.

The lubricant additives market report table of contents includes:

1. Executive Summary

2. Lubricant Additives Market Characteristics

3. Lubricant Additives Market Trends And Strategies

4. Lubricant Additives Market – Macro Economic Scenario

5. Global Lubricant Additives Market Size and Growth

26. South America Lubricant Additives Market

27. Brazil Lubricant Additives Market

28. Middle East Lubricant Additives Market

29. Africa Lubricant Additives Market

30. Lubricant Additives Market Competitive Landscape And Company Profiles

Top Major Players: