Lubricating oil additives are organic or inorganic substances that are dissolved or suspended in the lubricating oil in solid form to give them specific properties according to the type, application and lubricant requirements. These additives help improve existing properties and remove unwanted properties of base oils, in addition to providing them special properties. Materials that help improve the properties of existing base oils include defoamers, corrosion inhibitors, and antioxidants, and help suppress unwanted base oil properties. The materials include pour point depressants and viscosity index enhancers. In addition, detergents, extreme pressure additives and emulsifiers impart new characteristics to the base oil.
Market Scope and Structure Analysis
Lubricating oil additives are being used on a large scale in automotive industry along with many other sectors and it is expected to drive the lubricating oil additives market’s significant growth in the next upcoming years.
COVID-19 Impact Analysis
- At the beginning of 2020, the COVID-19 pandemic began to spread around the world. Millions of people worldwide are infected with the COVID-19 disease. The major economies in the world have issued permanent bans and orders to stop operations. Most life support industries have been hit hard, and the lubricating oil additives industry has also been hit hard.
- Due to the lockdown in major parts of the world, the manufacturing unit faced lack of manpower for production work.
- As being a key product for automotive industry and high demand of automobiles after the lockdown was removed from various region of the globe, a high demand will be in the market of lubricating oil additives.
Top Impacting Factors
- The rapid urbanization process and increasing consumer demand for products are driving the expansion of industrial production bases, thereby driving the demand for lubricant oil additives.
- Different formulations of additives depend on different chemicals, and prices vary from supplier to supplier. Due to the increase in raw material costs, transportation and regulatory policies require price adjustments, it is assumed that raw material prices fluctuate frequently which is one of the limiting factors in the lubricant additive market.
- Being a superior type of material, which make a high R&D cost for the lubricating oil additives and availability of low-cost alternatives is the one of the restraints that the market faces.
- Applications range from long life, high and low temperature, outdoor to marine environments, and applications that may accidentally meet food and these applications require very low toxic lubricant. Expanding the use of lubricating oil additives in accordance with OEM specifications to improve fuel economy and reduce viscosity will increase the growth of Lubricating oil additives market with a significant rate.
Market Trends
- In April 2019, Specialty chemical compounds corporation LANXESS is launching a natural lubricant additive for passenger automobile and high-overall performance engine oils. The new RC 3502 has been especially evolved to lessen friction and supply sustained overall performance and anti-put on protection. The friction modifier is non-corrosive, well matched with all artificial and mineral engine oils and has no SAPS.
- In May 2019, Specialty chemical compounds agency LANXESS has taken a brand new look at bench for additivities hydraulic fluids into operation at its Mannheim site. It is getting used to check the additive bundle Additin RC 9200 N, in addition to different fluids. These high-overall performance components are used to formulate hydraulic fluids which might be applied in big industrial cars together with excavators, integrate harvesters, or production cars.
Key Benefits of the Report
- This study presents the analytical depiction of the Lubricating Oil Additives industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Lubricating Oil Additives market share.
- The current market is quantitatively analyzed to highlight the Lubricating Oil Additives market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Lubricating Oil Additives market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Lubricating Oil Additives Report
- Who are the leading market players active in the Lubricating Oil Additives market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- Upcoming Report specific FAQs Examples: Can be utilized randomly 4-5 FAQs per RD OR other from own suggestions, suitable for upcoming report.
- What is "Lubricating Oil Additives "?
- what does "Lubricating Oil Additives " allow organizations to achieve?
- which technologies combine to make "Lubricating Oil Additives " a critical organizational asset?
- What is "Lubricating Oil Additives " Market prediction in the future?
- Who are the leading global players in the "Lubricating Oil Additives " Market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Lubricating Oil Additives " Market?
- What are the key benefits of the "Lubricating Oil Additives " Market report?
- What will be the anticipated growth rates for your own Lubricating Oil Additives Market economy altogether and for every segment inside?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- Upcoming Report specific FAQs Examples: Can be utilized randomly 4-5 FAQs per RD OR other from own suggestions, suitable for upcoming report.
Lubricating Oil Additives Market Report Highlights
| Aspects | Details |
 By Functional Type |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | Chevron Oronite, Croda International, Evonik Industries, Lanxess, Lubrizol Corp, Infineum International, Chemtura Corp., Shamrock, Tianhe Chemicals., BASF SE |
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