Press release
Lubricant Additives Market Outlook, Demand Trends, Material Innovations and Forecast 2024-2030
Allied Market Research has published 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 generated $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 2030.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.alliedmarketresearch.com/request-sample/1405
Key Growth DriversThe growth of the global lubricant additives market is driven by increased demand from the automotive industry and stringent environmental regulations regarding emissions. However, fluctuating crude oil prices present a challenge to market growth. Conversely, expanding opportunities in developing economies are expected to offer lucrative prospects in the coming years.
Segment Analysis
- Type: The dispersants segment held the largest market share in 2020, accounting for over one-fourth of the global lubricant additives market, and is expected to maintain its dominance throughout the forecast period. This is attributed to its widespread use in additive packages for both automotive and industrial applications. The antioxidants segment is anticipated to exhibit the highest CAGR of 4.7% from 2021 to 2030, driven by its ability to enhance the oxidative resistance of base oils and enable lubricants to perform effectively at elevated temperatures.
- Application: The automotive lubricant additives segment accounted for more than two-thirds of the global market in 2020 and is projected to maintain its lead during the forecast period. This growth is fueled by rapid advancements in the automotive sector and increased vehicle production globally. Meanwhile, the industrial lubricant additives segment is expected to register the highest CAGR of 4.0% from 2021 to 2030, supported by rapid industrialization, efficient energy resource utilization, and the expansion of various end-use industries.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐:
https://www.alliedmarketresearch.com/lubricant-additives-market/purchase-options
Regional Insights: Asia-Pacific, followed by LAMEA and North America, dominated the market in 2020, accounting for over one-third of the global lubricant additives market revenue. The Asia-Pacific region is also projected to experience the fastest growth, with a CAGR of 3.9% during the forecast period, due to the presence of key market players and a large consumer base.
Key Market Players
- 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
๐๐๐ญ๐๐ข๐ง ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ญ๐๐ข๐ฅ๐ฌ: https://www.alliedmarketresearch.com/lubricant-additives-market
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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.
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