Lubricant Additives Market Insights Industry Analysis and Forecasts

Lubricant Additives Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/1405

Market Overview

The global lubricant additives market was valued at $18.3 billion in 2020 and is projected to reach $31.3 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030.

Key Growth Drivers:

- Automotive Industry Demand: The rising need for efficient lubricants in the automotive sector.
- Environmental Regulations: Strict emission norms encouraging the use of advanced additives.

Challenges:

- Crude Oil Price Volatility: Fluctuating prices of crude oil affecting production costs.

Opportunities:

- Emerging Economies: New growth opportunities in developing regions.

Market Segmentation

By Type:

- Dispersants: Largest share in 2020 (over one-fourth). Essential for additive packages in both automotive and industrial sectors.

- Antioxidants: Expected to grow at the highest CAGR of 4.7%. Improves base oil's oxidative resistance, enhancing lubricant performance at higher temperatures.

By Application:

- Automotive Lubricant Additives: Dominant segment with over two-thirds market share in 2020. Driven by automotive advancements and increased vehicle production.

- Industrial Lubricant Additives: Forecasted to have the highest CAGR of 4.0%, due to industrial growth and energy-efficient applications.

Regional Insights

- Asia-Pacific: Leading the market with over one-third share in 2020. Expected to maintain dominance with a CAGR of 3.9%, supported by a strong consumer base and presence of key players.
- LAMEA & North America: Significant contributors to the market.

Leading Companies

- BASF SE
- Evonik Industries AG
- Infineum International Limited
- Chevron Oronite Company LLC
- Chemtura Corporation
- The Lubrizol Corporation
- Croda International PLC
- Afton Chemical Corporation
- Vanderbilt Chemicals LLC
- Rhein Chemie Corporation

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/lubricant-additives-market

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.