By Daniel Webster, dWeb.News Publisher
DUBLIN–(BUSINESS WIRE)–The “Global Lubricating Oil Additives Market – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global lubricating oil additives market is estimated to be USD 18.2 billion in 2021 and is projected to reach USD 20.4 billion by 2026, at a CAGR of 2.3% between 2021 and 2026. The major drivers of the global lubricating oils additives market are increasing demand from the industrial and automotive sectors. The main limiting factors for lubricating oils additives are rising competition from an unorganized and fragmented marketplace, as well as the drive towards alternative fuels and the reduction of metal parts used by automakers. The lubricating oils additives market has a great opportunity because of the growing demand for renewable energy.
Anti-oxidants is estimated to be the fastest-growing type in the lubricating oil additives market between 2021 and 2026
Anti-oxidants help inhibit the oxidation process of oils as the mineral oils react with the oxygen of air forming organic acid. Peroxide, alcohols and acids as well as aldehydes and ketones, all oxidation products, can increase oil viscosity, cause sludge, varnish and corrode metal parts that are susceptible to oxidation, and form sludge. Anti-oxidants are additives which increase the oxidative resistance and allow lubricants operate at higher temperatures. Alkyl sulfides (ZDP), aromatic sulfides and aromatic amines are some of the anti-oxidants that are used as additives.
Gear oil was the third-largest application for lubricating oil additives market in 2020
The lubricating oil additives market size for gear oil applications accounted for the third-largest share of global lubricating oil additives, in terms of value, in 2020 this was led by the demand from the automotive industry. The fluid lubricant for the gearbox is gear oil. It reduces friction and wear on the gear tooth surfaces, reduces heat generated by the operating system, and protects the gear parts against corrosion. It allows for efficient operation at different speeds, temperatures, and oil contaminations. Most gear oils are used in the industrial and automotive sectors.
Automotive gear oils offer better low-temperature performance and higher thermal and oxidative stability. They also have lower volatility and better solubility characteristics. They are also viscometric at high temperature. Automotive gear oils are used to protect moving parts and their mating surfaces. The finished automotive gear oils are mostly composed of base stocks with 5 to 10% of additives. These additives include dispersants, extreme pressure additives, and rust-and corrosion inhibitors. The industrial oil is used to reduce wear, friction, heat dissipation, and remove abrasive particles. It has excellent low-temperature performance, improved oil lubricity, a lower tendency to form residuals and an improved thermal and oxidation resistant. Most industrial gear oils contain 1 to 5 percent of additives. These additives include anti-foamer and rust & corrosion inhibitor, demulsifiers, extreme pressure additives and oxidation inhibiters.
Automotive was the major sector for the lubricating oil additives market in 2020 in the world
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. Advanced lubricants are used to enhance the performance of complex engines. This includes additives like detergent, viscosity improvers, dispersants and detergent. The largest share of global lubricating oil additives market in
was for automotive.
APAC is estimated to be the largest lubricating oil additives market in 2020, in terms of volume
APAC is one of the most crucial markets of lubricating oil additives. This is mainly due to the high demand for lubricating oils additives in various industries, including the automotive and industrial sectors of China, Japan and South Korea. China is the dominant market for lubricating oils additives in APAC. The main driver of the lubricating oils additives market is the growing automotive industry in major economies. The market leader in lubricating oils additives is Afton Chemical Corporation (US), Chevron Corporation (US), Infineum International Limited(US) and Evonik Industries AG.