Lubricant Additives Market Growth Projections and In-Depth Analysis of Key Trends Influencing Expansion to 2030

Allied Market Research has released a report titled, "Lubricant Additives Market by Type (Dispersants, Viscosity Index Improvers, Detergents, Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, and Others) and Application (Industrial and Automotive): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global lubricant additives market, valued at $18.3 billion in 2020, is projected to reach $31.3 billion by 2030, registering a CAGR of 3.7% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1405

Key Growth Drivers

The expanding automotive industry and stringent environmental regulations targeting emissions are key factors propelling the market's growth. However, volatility in crude oil prices poses challenges. Meanwhile, emerging opportunities in developing economies are anticipated to drive further expansion.

Segment Insights

By Type: The dispersants segment dominated in 2020, capturing over one-fourth of the market share due to its extensive use in additive packages for both automotive and industrial applications. The antioxidants segment is anticipated to have the highest CAGR of 4.7% from 2021 to 2030, as antioxidants improve base oil oxidation resistance and allow effective performance at higher temperatures.

By Application: The automotive lubricant additives segment held the largest share in 2020, accounting for more than two-thirds of the global market, driven by rapid growth in the automotive sector and increased vehicle production. The industrial lubricant additives segment is projected to witness the highest CAGR of 4.0% due to industrial growth and the expansion of diverse end-use sectors.

Regional Outlook

Asia-Pacific, followed by LAMEA and North America, led the market in 2020, representing more than one-third of global revenue. The region is projected to experience the highest growth rate, with a CAGR of 3.9% through 2030, due to the presence of major market players and a significant consumer base.

Key Market Players

The prominent players in the lubricant additives market include:

- 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

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