Press release
Lubricating Oil Additives Market Stand Out as the Biggest Contributor to Global Growth For Players Like Afton Chemical, BASF, Chevron Oronite, Croda, Evonik, Infineum, LANXESS, Shamrock Shipping and Trading Limited, The Lubrizol Corporation & Tianhe Chemi
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Regulations targeting fuel economy and emissions are resulting in formulation changes and affecting additive selection and usage. These include increasing utilization of low-viscosity materials and strict monitoring of chemical limits in automotive fuels and additives. Moreover, specification upgrades are leading to the increased and mandatory use of antioxidants and dispersants.
Lubricating oil additives are organic or inorganic materials that are dissolved or suspended as solids in lubricating oils to impart special properties to them. These vary according to the type, application, and requirement of lubricants. These additives help improve the existing properties and suppress the undesirable properties of base oils, in addition to providing them special properties.
Based on type, the lubricating oil additives market is categorized into dispersants, viscosity index improvers, detergents, anti-wear additives, antioxidants, corrosion inhibitors, friction modifiers, EP additives, PPDs, emulsifiers, and others. Depending upon the target application of the lubricant, these make up around 0.1–30.0% of the finished lubricating oil.
The lubricating oil additives market is also categorized into automotive, industrial, and other applications. The automotive category is further classified into heavy-duty motor oil (HDMO), passenger car motor oil (PCMO), and others. The industrial category is further classified into metalworking fluid, corrosion inhibitors, industrial engine oil, general industrial oil, and others.
The demand for lubricating oil additives for automotive applications is increasing due to the significant growth in the automotive market, especially in emerging economies of the Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA) regions.
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Some of the major players operating in the global lubricating oil additives market are Afton Chemical Corporation, BASF SE, Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG, Infineum International Limited, LANXESS Group, Shamrock Shipping & Trading Ltd., The Lubrizol Corporation, and Tianhe Chemicals Group. Among these, Chevron Oronite Company LLC, Afton Chemical Corporation,
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