Lubricant oil additives are specially designed so the performance of the lubricants and functional fluids can be improved. Each additive is chosen in conjunction with other additives for its capacity to fulfill one or more particular tasks. For use with a particular lubricant base inventory and for a given end-use implementation, selected additives are developed in packages. Dispersants, inhibitors, oxidation, antiwear agents and other are some of the common types of the functional additives. These LOA’s are widely used in application such as metalworking fluid, process oil, hydraulic fluids, gear oil and others. Government regulations have had a significant effect on the LOA Company and are likely to stay essential in the future, as upgrading lubricants is part of efforts to enhance fuel efficiency and satisfy more stringent criteria for emission control.
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Some of the factors responsible for the growth of these markets are as follow:
Global Lubricating oil additives market is segmented into three notable segments which are functional type, application and end user. On the basis of functional type, the market is segmented into anti-wear agents, detergents, dispersants, viscosity index improvers, anti-oxidants, extreme pressure additives, rust and corrosion inhibitors, pour point depressants (PPD), emulsifiers, friction modifiers, oxidation inhibitors and others; application is segmented into industrial oil, metalworking fluid, and process oil, engine oil, and gear oil, hydraulics fluid and other and end user is segmented into industrial and automotive. Automotive is further segmented into heavy-duty vehicles, passenger car and other.
Launches and acquisition by some of the prominent player in the market are as follow:
“According to Data Bridge Market Research, Global Lubricating oil additives market is projected to register a steady CAGR of 3.5% in the forecast period of 2019 to 2026”
Some of the major players operating in this market are The Lubrizol Corporation Company, Infineum International Limited, Afton Chemical, Chevron Corporation, Evonik, Baker Hughes, BASF SE, BRB International, Clariant AG, Croda International Plc, Dorf Ketal Chemicals (I) Pvt. Ltd., Eni S.P.A, Eurolub, Ipac, Inc., Jinzhou Runda Chemicals Co, Ltd, Jinzhou Kangtai Lubricant Additives Co, Ltd, Lanxess, Midcontinental Chemical Company Inc., Tianhe Chemicals, Total, Vanderbilt Chemicals, LLC, Wuxi South Petroleum Additives Co., Ltd., among others.
Lubricant oil additives are widely used in automotive engines as they have the ability to improve the performance at high temperature and increase the life of the engine oil. Some additives enhance motor oil viscosity for optimum efficiency at different working temperatures, decreasing wear and tear. They also has the ability to improve the friction of engine components, prevent built up of sludge and improve performance. These are the factors creating new opportunities for this market.
Global Lubricating Oil Additives Market – Industry Trends and Forecast to 2026
Asia-Pacific Lubricating Oil Additives Market – Industry Trends and Forecast to 2026
Europe Lubricating Oil Additives Market – Industry Trends and Forecast to 2026
Middle East and Africa Lubricating Oil Additives Market – Industry Trends and Forecast to 2026
North America Lubricating Oil Additives Market – Industry Trends and Forecast to 2026