Lubricant Additives Market to Reach USD 25.01 Billion by 2032, Growing at a CAGR of 4% | SNS Insider

Lubricant Additives Market Expands as Demand for High-Performance Lubricants Surges Across Industries

AUSTIN, TX, UNITED STATES, January 29, 2025 /EINPresswire.com/ -- The Lubricant Additives Market size was valued at USD 17.58 Billion in 2023 and is expected to reach USD 25.01 Billion by 2032, growing at a CAGR of 4% over the forecast period 2024-2032.

The market growth is primarily driven by the rising demand for automotive and industrial lubricants, coupled with advancements in additive technologies to improve lubricant performance.

Key Market Drivers

A significant driver for the growth of the lubricant additives market is the increasing global demand for automotive lubricants. As the automotive industry continues to expand, particularly in emerging economies, the need for lubricants with superior performance characteristics has risen. Lubricant additives play a critical role in enhancing properties such as oxidation stability, viscosity index improvement, and wear and corrosion protection.

Industrial growth in sectors such as manufacturing, power generation, and construction has further propelled the demand for high-performance lubricants. These industries require lubricants with enhanced capabilities to operate under extreme temperatures, high pressure, and varying loads. As a result, the adoption of advanced lubricant additives, including dispersants, detergents, and anti-wear agents, has become essential to ensure equipment longevity and operational efficiency.

Additionally, the shift toward environmentally friendly and bio-based lubricants is driving innovation in lubricant additive formulations. Regulatory frameworks emphasizing emissions reduction and sustainability have spurred the development of additives that enhance lubricant biodegradability and reduce environmental impact without compromising performance.

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Prominent Key Players:

• Afton Chemical Corp. (AFTON 2200, AFTON 3040)
• BASF SE (BASOLUBE, Irganox)
• BRB International (BRB 100, BRB 101)
• Chevron Chemicals (Delo 400, Havoline)
• Evonik Industries (VISCOPLUS, TEGO^®)
• Hornett Brothers & Co. Ltd.
• Lubrizol Corporation (Lubrizol 5240, Lubrizol 5100)
• Infineum International Limited (Infineum SCA 60, Infineum 191)
• Croda International PLC (Croda Lube, Croda BioLube)
• Dover Chemical Corporation (DOVERLUBE 31700, DOVERLUBE 30700)
• Clariant International Ltd (Licocene, Exolit)
• LANXESS
• TotalEnergies (Total Fluid, Total Eco-Flow)
• Chemtura Corporation (Aerosol 1000, Lube 222)
• Shamrock Shipping & Trading Ltd.
• Tianhe Chemicals Group
• Houghton International Inc. (Houghton HTD, Houghton MP)
• Fuchs Petrolub SE (Fuchs Titan, Fuchs Ecoclean)
• Petro-Canada Lubricants (Duron, Varityl)
• SABIC (SABIC S430, SABIC S270)
• Kraton Corporation (Kraton G, Kraton D)
• Rheinfelden Group (Rhenocoll, Rhenodix)
• Chevrol USA (Chevrol 2000, Chevrol 1000)

Segmental Analysis

By Product
• Antioxidants
• Dispersants
• Detergents
• Anti-wear Additives
• Viscosity Index Improvers
• Friction Modifiers
• Others

In 2023, the Viscosity Index Improvers was the most dominant product, with revenues of over 35 % share. VIIs are synthetic polymers used to reduce the changes in the flow of lubricating oils at high and low temperatures. These are important components of the formulation for engine oil.

The recovery of manufacturing sectors in the developed economies of North America and Europe (U.S., UK, Germany, and Italy) will underpin consumption over the forecast period. The expectation is further industry dynamics will be affected as regulators' licenses to meet fuel economy targets increase. Regulations, which are becoming increasingly strict, are forcing nations like the U.S., Canada, and Mexico to lower their carbon footprint, which is generating a large need for anti-wear additives in the North American region.

By Application
• Automotive Lubricants
• Industrial Lubricants

The automotive lubricants segment generated around 65.86% of the legal share in 2023. For both gasoline & diesel engines, the fuel systems of automotive vehicles are gradually being fortified such additives, including dispersants, viscosity index improvers, anti-oxidants & friction modifiers, as all of these lubricant additives have remarkable oxidative stability, better solubility, and lower volatility in fuel. Fuel economy and temperature performance are established, of course, set cleaner with the blends of the diesel gas, dirt the engine has burned less than to the market.

Besides, the presence of indirect drivers such as automotive & industrial growth is expected to be a mainstay for demand for Lubricant Additives Growth in Asia Pacific owing to the presence of countries such as China, India & Japan. To bring better fuel economy, the government made multiple changes in the automotive space which also increased the consumption of performance lubricant additives. Moreover, the growing disposable income of consumers has resulted in the production of a large number of passenger cars & heavy-duty vehicles that have, in turn, increased the demand for lubricants due to higher usage volumes.

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Regional Analysis

Asia-Pacific

Asia-Pacific accounted for over 35.2% of the market share in 2023, making it the largest regional market for lubricant additives. The region's dominance is attributed to the rapid industrialization and urbanization in countries such as China, India, and Japan. These nations are witnessing significant growth in automotive production and industrial activities, driving the demand for high-performance lubricants and, consequently, lubricant additives.

China remains a key player in the region, with its robust manufacturing sector and expanding automotive industry. The government's focus on reducing emissions and improving energy efficiency has also led to increased adoption of advanced lubricant additives.

India's growing infrastructure and construction activities are further fueling the demand for industrial lubricants, supported by government initiatives such as "Make in India" and investments in smart cities and industrial corridors.

North America

North America is estimated to be the fastest-growing region during the forecast period, driven by technological advancements and stringent environmental regulations. The region’s automotive and industrial sectors are embracing high-performance lubricants to comply with emissions standards and improve fuel efficiency.

The United States, in particular, is benefiting from policies such as the Corporate Average Fuel Economy (CAFE) standards, which emphasize the use of advanced engine oils with enhanced additive formulations. Additionally, the growing adoption of bio-based lubricants in the region is creating new opportunities for lubricant additive manufacturers.

Recent Developments

• April 2024: Afton Chemical Corporation announced the launch of a new range of fuel-efficient lubricant additive packages designed to meet the latest API SP and ILSAC GF-6 standards. This innovation aims to address the growing demand for high-performance additives in automotive engine oils.
• March 2024: BASF SE expanded its production capacity for lubricant additives at its manufacturing facility in Germany. The expansion is part of the company’s strategy to cater to the increasing demand for advanced additives in the European market.
• February 2024: Chevron Oronite Company LLC introduced a new line of dispersant and detergent additives tailored for marine lubricants. These additives are designed to provide enhanced deposit control and wear protection in harsh marine environments.
• January 2024: Lubrizol Corporation collaborated with a leading automotive OEM to develop next-generation lubricant additives optimized for hybrid and electric vehicles. The partnership focuses on enhancing thermal stability and wear protection in EV-specific lubricants.

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