Lubricant Additives Market Demand for its End-Products to Increase at a Higher Rate in Developing Countries

Asia-Pacific, followed by LAMEA & North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global market

PORTLAND, OREGON, UNITED STATES, August 1, 2022 /EINPresswire.com/ -- Increased demand from the automotive industry and stringent environmental regulations regarding emission drive the growth of the global lubricant additives market.

Allied Market Research published a report, titled, “Lubricant Additives Market by Type (Dispersants, Viscosity Index Improvers, Detergents, Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers and Others) and Application (Industrial and Automotive): Global Opportunity Analysis and Industry Forecast, 2021–2030”. According to the report, the global lubricant additives industry generated $18.3 billion in 2020, and is anticipated to generate $31.3 billion by 2030, witnessing a CAGR of 3.7% from 2021 to 2030.

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COVID-19 impact analysis:

The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The lubricant additives market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the lubricant additives market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the lubricant additives market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.

The dispersants segment held the highest market share in 2020, accounting for more than one-fourth of the global lubricant additives market, and is estimated to maintain its leadership status throughout the forecast period. This is due to its wide usage in forming additive packages for both, automotive and industrial segments. Moreover, the antioxidants segment is projected to manifest the highest CAGR of 4.7% from 2021 to 2030. This is because anti-oxidants help increase the oxidative resistance of base oil and also allow the lubricants to operate effectively at higher temperatures.

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Some ruling enterprises in the global lubricant additives market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global lubricant additives industry include BASF SE, Evonik Industries AG, Infineum International Limited, Chevron Oronite Company LLC, Chemtura Corporation, The Lubrizol Corporation, Croda International PLC.

The automotive lubricant additives segment accounted for the largest share in 2020, contributing to more than two-thirds of the global lubricant additives market, and is projected to maintain its lead position during the forecast period. This is owing to the rapid development in the automotive sector and increase in production of vehicles in major regions. However, the industrial lubricant additives segment is expected to portray the largest CAGR of 4.0% from 2021 to 2030. This is owing to rapid industrialization, use of lubricant additives for the effective use of energy resources, and expansion of various end use industries.

Major Inclusions-

• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the lubricant additives market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the lubricant additives market
• Post-sales support and free customization

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Analytics LLP
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