Wilmington, Delaware, United States,, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The Global Lubricant Additives Market was worth US$ 17.1 Bn in 2021. The market is anticipated to expand at a CAGR of 2.8% during the forecast period, from 2022 to 2031. The market forecast projects the global market to touch a value of US$ 22.7 Bn by 2031. A number of advantages of these products, such as extreme pressure (EP), preventing corrosion, boundary lubricity, enhancing reserve alkalinity, antimisting, emulsification, and antimicrobial pesticide, are likely to increase market demand for lubricant additives.
The rapid expansion of the global manufacturing and automotive sectors is projected to boost the global industry. However, industry growth is anticipated to suffer from instability in the price of crude oil. Given that several of these additives are petrochemical derivatives made from base oil, the cost of crude and base oil is likely to influence how much the additives cost.
The adoption of nanotechnology and a shift toward lubricants made from biological sources are two significant industry developments. Manufacturers are likely to benefit significantly from the use of nanotechnology in lubricant additives in the near future. Nanoparticle additives are utilized to improve the lubricant's tribological qualities, thermal properties, and anti-oxidation capabilities, which are anticipated to enhance the market value of lubricants.
Request FREE Sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3893
Key Findings of Market Report
- In terms of product, the dispersants segment dominated the market in 2021 with a share of 25.6%. Dispersants are frequently employed in engine oils along with detergents in order to keep engine surfaces clean and free from deposits. Dispersants are primarily utilized to keep diesel engine soot particles suspended or finely distributed in the oil.
- The antioxidants market segment is anticipated to have substantial growth during the forecast period. Antioxidants, also known as oxidation inhibitors, are often used to stop the oxidation of base oil constituents, which prolongs the life of lubricants. Antioxidants are expected to become more popular in the near future owing to a rise in demand to prevent lubricant molecule oxidation. Therefore, extensive use of these additives is anticipated to fuel market growth throughout the forecast period.
Global Lubricant Additives Market: Growth Opportunities
- There is a greater emphasis on improving vehicle design and lubrication in order to reduce emissions and save resources. Lubricant additives contribute to improved fuel economy by lowering friction in passenger automobiles as well as commercial vehicles, which in turn helps minimize carbon dioxide emissions. Stringent guidelines and regulations on greenhouse gas emissions and fuel efficiency are projected to drive market growth in the next few years.
Save up to 20% by purchasing this Premium Research Report | Immediate Delivery Available -
https://www.transparencymarketresearch.com/checkout.php?rep_id=3893<ype=S
Global Lubricant Additives Market: Regional Landscape
- Asia Pacific is expected to observe a major increase in demand for lubricant additives. The region held a 34.2% market share in 2021. The rise in disposable income, expansion of the automobile sector, and the region's stringent pollution standards can all be attributed to market growth.
- A sizeable portion of the global Lubricant Additives Market is held by North America and Europe. This is due to the enforcement of strict emission standards in both Europe and North America, which is estimated to bolster the use of additives in the production of lubricants. These lubricants work with engines and produce fewer emissions while improving fuel efficiency.
Global Lubricant Additives Market: Key Players
- Infineum International Limited
- Italmatch Chemicals S.p.A
- Evonik Industries AG
- Croda International plc
- The Lubrizol Corporation
- Chevron Corporation
Request for Customization –
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=3893
Global Lubricant Additives Market: Segmentation
Product
- Viscosity Index (VI) Improver
- Pour Point Depressants (PPD)
- Detergents
- Dispersants
- Antioxidants
- Others
About Transparency Market Research
Transparency Market Research, a global market research company registered in Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analyzed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact Us:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll-Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
