Lubricants are indispensable for the proper functioning of machinery. Lubricants are typically used to reduce friction and wear & tear between different moving parts of machines. Lubricants aid in curbing the downtime of operating machines and thereby raise the overall productivity. Lubricants provide protection against residual deposition over mechanical parts which aids in increasing the operating lifespan of mechanical parts. They are typically manufactured from base oils, while few additives are also used along with the base oils to give lubricants the desired properties. Lubricant additives are imperative for the proper functioning of lubricants and their longer life. There are different kinds of additives, which are blended with the base oils to produce finished lubricants. The percentage of lubricant additives in the finished lubricants varies depending upon the end use application. For example, the percentage of additives for steam turbines or compressors varies between 0.5% and 5%, whereas for hydraulic systems the percentage of additives is between 2% and 10%. Types of additives added to the finished lubricants are specific for specific applications. For example, extreme pressure additives are not used in steam turbine oils or compressor oils.
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Consumption of lubricant additives is increasing significantly due to frequent amendments in emission norms. The automotive industry is expected to be the major consumer of lubricant additives. Environmental regulations have limited the permissible amount of carbon dioxide emitted per kilometer. Europe has the most stringent norms followed by North America. The car OEMs have to ensure the emission limits of 130 grams of carbon dioxide per kilometer by 2015. The permissible limit in Europe is targeted to be 95 grams of carbon dioxide per kilometer by 2021. Projected permissible limit for the U.S. is slightly higher for 2021. In the Asia Pacific region, Japan and South Korea have put forth stringent emission norms that aid in curbing carbon footprints. Emergent countries like China and India are also improving their emission standards. Revising emission standards for the automotive industry is one of the key steps taken by the Chinese government to reduce emission levels in the country. OEMs are also contributing in reducing emission levels by improving engine technology. Europe and North America use better technology engines and advanced quality finished lubricant oils. The same trend is being followed in some countries of Asia Pacific and the Middle East.
This market research study analyzes the global demand for lubricant additives and provides estimates and forecasts for the market from a consumption point of view. The market for lubricant additives has been segmented based on product segments in order to provide a holistic view of the market. Market data for products have been provided on a regional level for the period 2013 to 2020. A comprehensive competitive landscape, which includes company market share analysis, has also been provided in the study. Key product segments that are analyzed in the report include viscosity index (VI) improvers, pour point depressants (PPD), detergents, dispersants, and others. Market data has been provided for Europe, Asia-Pacific, North America, the Middle East and Rest of the World (RoW). The regions included in RoW are Africa and Latin America.
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The report also includes Porter’s Five Forces model along with the value chain analysis of the market. The report analyzes market attractiveness by product type. Key players in the market for lubricant additives include BASF SE, Chevron Oronite Company, LLC., Chemtura Corporation, Evonik Industries AG, Infineum International Limited, The Lubrizol Corporation and Tianhe Chemicals Group Limited. The report provides an overview of these companies along with their financial details, business strategy, and recent developments.
Lubricant Additives Market: Product Segment Analysis
- VI Improvers
- PPD (Pour Point Depressants)
- Other Additives (Corrosion inhibitors, Metal deactivators, Anti-wear additives, etc.)
Lubricant Additives Market: Regional Analysis
- North America
- Asia Pacific
- Middle East
- RoW (Rest of the world)
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