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The lubricating oil additives market size is estimated to be USD 18.2 billion in 2021 and is projected to reach USD 20.4 billion by 2026, at a CAGR of 2.3% between 2021 and 2026

·5-min read

Factors such as increasing demand from the automotive and industrial sector are the major driving factors of the lubricating oil additives market. Whereas drive towards alternative fuels, rising competition from unorganized and fragmented market, and reduction in the use of metal parts by automakers are the major restraints for the lubricating oil additives.

New York, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lubricating Oil Additives Market by Type, Application, Sector And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05436927/?utm_source=GNW
Increasing demand for renewable energy is a major opportunity for the lubricating oil additives market.

Anti-oxidants is estimated to be the fastest-growing type in the lubricating oil additives market between 2021 and 2026.
Anti-oxidants help inhibit the oxidation process of oils as the mineral oils react with the oxygen of air forming organic acid.Some of the oxidation products such as peroxide, alcohols, acids, esters, aldehydes, and ketones increase the viscosity of oil, form sludge and varnish, and corrode the metallic parts that are prone to oxidation.

Therefore, anti-oxidants are additives that help increase the oxidative resistance of base oil and also allow the lubricants to operate effectively at higher temperatures. The anti-oxidants used as additives are zinc dithiophosphate (ZDP), alkyl sulfides, aromatic sulfides, aromatic amines, and hindered phenols.

Gear oil was the third-largest application for lubricating oil additives market in 2020
The lubricating oil additives market size for gear oil applications accounted for the third-largest share of global lubricating oil additives, in terms of value, in 2020 this was led by the demand from the automotive industry.Gear oil is a fluid lubricant used in the gearbox to reduce friction and wear of the gear tooth surface, reduce heat generated by the operating gear, and protect the gear parts from corrosion.

It helps to operate efficiently at a different speed, temperatures, and oil contaminations. The gear oils are mostly used in the automotive and industrial sectors.
The automotive gear oil offers better low-temperature performance, improved thermal and oxidative stability, lower volatility, improved solubility characteristics, and viscometric at high temperatures.The major function of automotive gear oils is to provide protection between moving and mating parts.

The finished automotive gear oils are mostly composed of base stocks with 5 to 10% of additives. These additives mainly include extreme pressure additives, dispersants, and rust & corrosion inhibitors.
The industrial gear oil is used to minimize wear, reduce friction, dissipate heat, and also used to remove abrasive particles.It offers excellent low-temperature performance, improved lubricity and lower tendency to form residues, and improved thermal and oxidation resistance.

Industrial gear oils are mostly composed of 1 to 5 % of additives. These additives mainly include anti-foamer, rust & corrosion inhibitor, demulsifier, extreme pressure additives, and oxidation inhibitors.

Automotive was the major sector for the lubricating oil additives market in 2020 in the world
The lubricating oil additives market size for automotive accounted for the largest share of global lubricating oil additives, in terms of value, in 2020 this was led by the demand for passenger vehicles and commercial vehicles. To enhance the performance of the complex engine, advanced lubricant is being used which includes various additives such as viscosity index improvers, dispersants, detergent, anti-oxidants, anti-wear agent, rust & corrosion inhibitors, friction modifiers, extreme pressure additives, pour point depressant, and others.

APAC is estimated to be the largest lubricating oil additives market in 2020, in terms of volume.
APAC is one of the most crucial markets of lubricating oil additives.This is basically led by the demand of lubricating oil additives from various end use industries in China, Japan, India, South Korea and Indonesia These countries have major companies related to the automotive and industrial sector, in this region.

China dominates the lubricating oil additives market in APAC. The growing automotive industry in the major economies is the main driver for the lubricating oil additives market.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
• By Company Type: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
• By Designation: C-Level - 21%, Director Level - 23%, and Others - 56%
• By Region: North America - 41%, Europe - 30%, APAC - 18%, Middle East & Africa - 7%, and South America - 4%

The key market players profiled in the report include BASF SE (Germany), Chevron Oronite Company LLC (US), The Lubrizol Corporation (US), Afton Chemical (US), Evonik Industries AG (Germany), LANXESS AG (Germany), Croda International Plc. (UK), Infineum International Limited (UK), ADEKA CORPORATION (Japan), BRB International (Netherland), International Petroleum and Additives Company (IPAC) (US), Tianhe Chemicals (China), Vanderbilt Chemicals, LLC(US), MOL-LUB Ltd. (Hungary), Eni S.p.A. (Italy), Clariant AG (Switzerland), Jinzhou Kangtai Lubricant Additives Co., Ltd. (China), Eurolub GmbH (Germany), Wuxi South Petroleum Additives (China), Dorf Ketal (India), Cerion Nanomaterials (US), Shamrock Shipping and Trading Ltd. (Cyprus), Jinzhou Runda Chemical Co., Ltd. (China), MidContinental Chemical Company(US), and Wynn’s (US).

Research Coverage
This report segments the market for lubricating oil additives on the basis of type, application, sector and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for lubricating oil additives.

Reasons to buy this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the lubricating oil additives market; high-growth regions; and market drivers, restraints, opportunities and challenges

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on lubricating oil additives offered by top players in the global lubricating oil additives market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the lubricating oil additives market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for lubricating oil additives across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global lubricating oil additives market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the lubricating oil additives market
• Impact of COVID-19 on lubricating oil additives market
Read the full report: https://www.reportlinker.com/p05436927/?utm_source=GNW

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