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Lubricating Oil Additives Market Demand, Overview, Size, Trend and Forecast 2031| Intel Corporation,Chevron Oronite,Asahi Kasei Corporation.
Lubricating Oil Additives Market
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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.
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.
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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