Lubricant Additives Market Size, Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Lubricant Additives Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $22.19 billion In 2028 At A CAGR Of 5.2%.

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..

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Lubricant Additives Market Major Segments
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

Key Driver - Surging Automotive Sales Propel Expansion In The Lubricant Additives Market

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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Prominent Trend - Infineums Groundbreaking Infineum M8040 Additive Package Revolutionizes Two-Stroke Engine Efficiency In Lubricant Additives Market

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.

Lubricant Additives Market Players
Major companies operating in the lubricant additives market report are Badische Anilin und Soda Fabrik Societas Europaea SE, Evonik Industries AG, Infineum International Limited, Chevron Oronite, The Lubrizol Corporation, Croda International PLC., Afton Chemical Corporation, Exxon Mobil Corporation, Valvoline Inc., Italmatch Chemicals S.p.A, Vanderbilt Chemicals LLC, Rhein Chemie Corporation, Laxness Corporation, Dover Chemical Corporation, Wuxi South Petroleum Additives, Akzo Nobel, Shell International B.V, China National Petroleum Corporation, Shamrock, Tianhe Chemicals, Chemtura Corporation, BRB International, Adeka Corporation, Dorfketal Chemicals (I) Pvt Ltd, Jinzhou Kangtai Lubricant Additives Co. Ltd, King Industries Inc., Multisol Group, RT Vanderbilt Holding Company Inc., Shepherd Chemical, Lubrizol Corp., Sinopec Corp., Total S.A., Royal Dutch Shell plc, British Petroleum public limited company .

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the lubricant additives market in 2023. The regions covered in the lubricant additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lubricant Additives Market Report Structure
3. Lubricant Additives Market Trends And Strategies
4. Lubricant Additives Market - Macro Economic Scenario
5. Lubricant Additives Market Size And Growth
…..
27. Lubricant Additives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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