Global Lubricating Oil Additives Market, By Functional Type (Anti Wear Agents, Detergents, Dispersants, Viscosity Index Improvers, Anti-Oxidants, Extreme Pressure Additives, Rust & Corrosion Inhibitors, Pour Point Depressants (PPD), Emulsifiers, Friction Modifiers, Oxidation Inhibitors, Other), Application (Industrial Oil, Metalworking Fluid, Process Oil, Engine Oil, Gear Oil, Hydraulics Fluid, Other), End-User (Industrial, Automotive), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Lubricating Oil Additives Market
The lubricating oil additives market is expected to witness market growth at a rate of 2.86% in the forecast period of 2021 to 2028. Data Bridge Market Research report on lubricating oil additives market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of lubricating oil additives market.
Lubricating oil additives refer to the type of substances that are mainly utilized for improving functional fluids and lubricants performance. Each of the additives is generally added to enhance the functioning of one or more additives combined together. These are widely used in automotive engine which includes other applications such as hydraulic fluids and gear oils. Detergents, oxidation inhibitors, and anti-wear agents are some of the functional additives.
The increase in demand from automotive industry across the globe acts as one of the major factors driving the growth of lubricating oil additives market. The increase in the adoption of the lubricating oil additive owning to its ability to perform one or more particular tasks in amalgamation with other additives, and growing demand for engine oils accelerate the market growth. The rise in the use of the product to maintain the required physical properties (such as viscosity) at all temperatures and operating conditions, and high demand for oil to keep the engine surfaces and parts clean along with controlling deposit mediated engine oil thickening further influence the market. Additionally, expansion of various end use industries, rapid industrialization, and use of the product for the effective use of energy resources positively affect the lubricating oil additives market. Furthermore, advancements in the lubricating oil additive extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, fluctuations in the raw materials and presence of stringent regulations are expected to obstruct the market growth. Expensive research and development process to formulate additive package in compliance with stringent environmental regulations is projected to challenge the lubricating oil additives market in the forecast period of 2021-2028.
This lubricating oil additives market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on lubricating oil additives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Lubricating Oil Additives Market Scope and Market Size
The lubricating oil additives market is segmented on the basis of functional type, application and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of functional type, the lubricating oil additives market is segmented into anti wear agents, detergents, dispersants, viscosity index improvers, anti-oxidants, extreme pressure additives, rust & corrosion inhibitors, pour point depressants (PPD), emulsifiers, friction modifiers, oxidation inhibitors, and other.
- On the basis of application, the lubricating oil additives market is segmented into industrial oil, metalworking fluid, process oil, engine oil, gear oil, hydraulics fluid and other.
- On the basis of end-user, the lubricating oil additives market is segmented into industrial and automotive.
Lubricating Oil Additives Market Country Level Analysis
The lubricating oil additives market is segmented on the basis of functional type, application and end-user.
The countries covered in the global lubricating oil additives market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the lubricating oil additives market due to the rise in the food processing industry within the region. North America is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the increased active number of automotive vehicles in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lubricating Oil Additives Market Share Analysis
The lubricating oil additives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lubricating oil additives market.
The major players covered in the lubricating oil additives market report are BASF SE, Lanxess AG, Afton Chemical, Chevron Corporation, BRB International, Evonik Industries AG, Croda International Plc, Infineum International Limited, Dover Chemical Corporation, Shepherd Chemical Company, DOG Chemie, JINZHOU KANGTAI LUBRICANT ADDITIVES CO. LTD., Wuxi South Petroleum Additives Co. Ltd., Chemtura Corporation, Infineum International Limited, Shamrock Shipping and Trading Limited, Dorf Ketal, Vanderbilt Chemicals, LLC, The Lubrizol Corporation, and Tianhe Chemicals Group, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.