The Evolution of Lubricating Oil Additives: Past, Present, and Future

Lubricating oil additives are compounds that are added to lubricating oils in order to increase performance and extend the life of machinery and equipment. These additives can improve a lubricant's capacity to reduce friction and wear, resist oxidation and corrosion, and maintain optimum viscosity across a wide range of temperatures. They are often utilized to improve the efficiency and dependability of engines, transmissions, hydraulic systems, and other mechanical components in automotive, industrial, and aviation applications. Detergents, dispersants, viscosity improvers, anti-wear agents, friction modifiers, and antioxidants are examples of lubricating oil additives.

The Lubricating Oil Additives Market is projected to reach USD 20.4 billion by 2026, at a CAGR of 2.3% from USD 18.2 billion in 2021.?The growth of the lubricating oil additives market is attributed to the demand from end-use industries such as power generation, construction, manufacturing, and automotive in the APAC region. Liberalization of foreign trade and investments and changes in industrial policies have triggered rapid industrialization in China over the past three decades. This is leading to the increasing demand for lubricating oil additives in the region. The adoption of Bharat Stage VI emission standards in India and strict regulations on SAPS content in engine oil are major factors leading to the demand for lubricating oil additives in this region.

Get PDF Brochure for Research Insights at?https://bit.ly/3pp3DVq?

“Viscosity index improver is estimated to be the fastest-growing type"

Viscosity index improvers are expected to account for the largest share of the overall lubricating oil additives market. This helps in improved performance and efficiency. There is a rising trend about the use of complex engines such as gasoline direct injection systems (GDI) in North America and Europe. These complex engines require less viscous lubricants to flow in the system. Therefore, higher quantities of viscosity index improvers are required for engine oil application.

“Engine Oil to be Fastest-Growing Application"

Engine oil additives are designed to protect passenger car engines, heavy-duty diesel engines, marine diesel engines, motorcycle engines, recreational vehicle engines, power tool engines, stationary natural gas engines, and others from mechanical wear and corrosion. It helps to enhance the vehicle’s performance by improving fuel efficiency. It also offers excellent lubrication at different temperatures and reduces environmental impact. The global engine oil consumption is expected to increase during the forecast period, and the quantity of additives added is expected to increase to meet stringent environmental norms.

“Automotive was the major sector"

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. The demand for lubricating oil additives in the automotive sector is expected to increase due to the rise in sales of passenger vehicles globally which leads to the demand for low-viscous and SAPS engine oil.

“APAC is estimated to be the largest region"

High economic growth in emerging countries and the increasing disposable income of people make APAC an attractive market for lubricating oil additives. The significant growth in industrial production increased trade, and the rise in the number of vehicles are primarily responsible for the high consumption of lubricating oil additives in the region. Moreover, increasing investments in India’s manufacturing sector contribute to the increased demand for lubricating oil additives in the region. China, Japan, and India are the major markets for lubricating oil additives in the region. Additionally, regulations and specifications are being implemented for ashless lubricating oil additives, which is further expected to boost the demand for better quality lubricating oil additives during the forecast period.

For any Query, Ask an Analyst:?https://bit.ly/3B6CfhU?

The key market players profiled in the report include 巴斯夫 SE (Germany), 雪佛龙 Oronite Company LLC (US), The Lubrizol Corporation (US), Afton Chemical (US), 赢创工业集团 AG (Germany), 朗盛 AG (Germany), 禾大 International Plc. (UK), Infineum International Limited (UK), ADEKA CORPORATION (Japan),? BRB International B.V. (Netherland), International Petroleum Products and Additives Company, Inc. (IPAC) (US), Tianhe Chemicals (China), Vanderbilt Chemicals, LLC (US), MOL-LUB Ltd. (Hungary),? エニ S.p.A. (Italy), 科莱恩 AG (Switzerland), Jinzhou Kangtai Lubricant Additives Co,Ltd (China), EUROLUB GmbH (Germany), Wuxi South Petroleum Additives (China), Dorf Ketal (India), Cerion Nanomaterials (US), Shamrock Trading Corporation (Cyprus), JINZHOU RUNDA CHEMICAL CO.,LTD (China), MidContinental Chemical Company, Inc. (US), Wynn’s (US) and others.