Lubricating Oil Additives Market to Witness Growth Acceleration During 2021-2031 | BASF, Lanxess, Croda, BRB International

New York, According to a new market research report published by Global Insight Services Lubricating Oil Additives Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Lubricating oil additives are chemicals that are added to base oils to enhance their performance. The most common additives are anti-wear agents, detergents, dispersants, and antioxidants. These additives improve the properties of the oil, such as its viscosity, wear protection, and ability to control deposits.

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Key Trends

The key trends in lubricating oil additives technology are:

Increasing demand for fuel-efficient and environmentally-friendly lubricants: There is a growing demand for fuel-efficient and environmentally-friendly lubricants, which is driving the demand for lubricating oil additives. Additives can improve the fuel economy of lubricants by up to 5%.

Increasing use of synthetic lubricants: The use of synthetic lubricants is increasing as they offer superior performance and longer service life than conventional lubricants. Synthetic lubricants are expected to account for a significant share of the global lubricating oil additives market.

Stringent environmental regulations: Stringent environmental regulations, such as the European Union's REACH regulation, are expected to drive the demand for environmentally-friendly lubricating oil additives.

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Key Drivers

The key drivers of the lubricating oil additives market include the growing demand for passenger cars and commercial vehicles, the increasing demand for synthetic and semi-synthetic lubricants, and the stringent government regulations regarding the use of additives in lubricants. The rising demand for electric vehicles is expected to provide a boost to the market in the coming years.

Restraints & Challenges

The key restraints and challenges in Lubricating Oil Additives market include the stringent environmental regulations, the high cost of raw materials, and the volatile nature of the prices of raw materials. The environmental regulations are becoming increasingly stringent, especially in developed countries, which is restraining the growth of the lubricating oil additives market. The high cost of raw materials is also a challenge for the market players as it increases the cost of production. The volatile nature of the prices of raw materials is another challenge for the market players as it makes it difficult to forecast the prices.

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Market Segments

By Product

Dispersants
Detergents
Anti-oxidants
Others

By Application

Engine Oil
Gear Oil
Process Oil
Others

Key Players

Lubrizol
Chevron Oronite
Afton Chemical
Infineum
Evonik Industries
BASF
Lanxess
Croda
BRB International
Total

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Reasons to buy Lubricating Oil Additives Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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