Lubricant Additives Market Set for Significant Growth, Reaching US$ 20.6 Billion by 2031 | Key Players- BASF SE, Lanxess, Afton Chemical, Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG

The Lubricant Additives Market report by DataM Intelligence provides insights into the latest trends and developments in the market. This report identifies the key growth opportunities in the market and provides recommendations for market participants to capitalize on these opportunities. Overall, the Lubricant Additives market report is an essential resource for market participants who are looking to gain a comprehensive understanding of the market and identify opportunities for growth.

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Global Lubricant Additives Market reached US$ 16.5 billion in 2023 and is expected to reach US$ 20.6 billion by 2031, growing with a CAGR of 2.8% during the forecast period 2024-2031.

Lubricant additives are chemicals added to base lubricants (oils and greases) to improve their properties. These additives enhance performance by providing benefits such as better wear resistance, corrosion protection, oxidation stability, and improved viscosity control, making the lubricants more efficient and durable in machinery, automotive, and industrial applications.

Key Developments:/ Growth Drivers

❁ In May 2024, Scientists at the U.S. Department of Energy's Oakland National Laboratory announced the development of new lubricant additives for the protection of water turbine equipment. The new additives demonstrated a 50% reduction in friction and a nearly ten-fold decrease in operational wear as compared to commercially available lubricant additives.

❁ In November 2023, Trecora LLC, a U.S.-based petrochemicals manufacturer, acquired the lubricant additives business of Chemtrade. The acquired company will become part of Trecora's specialty chemicals business based in Woodlands, Texas, U.S.

Competitive Landscape:

The section also contains information related to the new product launches, mergers, acquisitions, collaborations, etc., to give a clear understanding about the competitive landscape prevailing in the global market. With an emphasis on strategies there have been several primary developments done by major companies such as:

BASF SE, Lanxess, Afton Chemical, Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG, Infineum International Limited, The Lubrizol Corporation, Shamrock Oils & Petrochemicals and Jinzhou Tianhe Chemicals Co Ltd.

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Market Segments:

The detailed segmentation offered in the report will help customers get a clear idea about the market segments and the factors that will drive segmental growth. The Lubricant Additives market has been segmented:

❁ By Function (Dispersants, Viscosity Modifiers, Detergents, Anti-wear & Extreme Pressure Additives, Corrosion Inhibitors, Anti-oxidants, Emulsifiers, Friction Modifiers, Others)

❁ By Lubricants Type (Engine Oil, Hydraulic Oil, Transmission Fluid, Metalworking Oils, Greases, Industrial Gear Oils, Concrete Release Agents, Chainsaw Oils, Compressor Oils, Others)

❁ By End User (Automotive, Locomotive, Aerospace & Marine, Refrigeration, Construction, Metallurgy & Metal Working, Others)

Research Process:

Both primary and secondary data sources have been used in the global Lubricant Additives Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Regional Outline for Lubricant Additives Market:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

This Report Covers:

✔ Go-to-market Strategy.
✔ Neutral perspective on the market performance.
✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.
✔Customized regional/country reports as per request and country level analysis.
✔ Potential & niche segments and regions exhibiting promising growth covered.
✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Lubricant Additives market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Lubricant Additives Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Lubricant Additives market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Lubricant Additives Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Lubricant Additives market?
➠ Who are the global key manufacturers of the Lubricant Additives Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
➠ What are the Lubricant Additives market opportunities and threats faced by the vendors in the global Lubricant Additives Industry?
➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➠ What focused approach and constraints are holding the Lubricant Additives market?
➠ What are the different sales, marketing, and distribution channels in the global industry?

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