Lubricant Additives Market Expected to Reach 4,934.61 Kilo Tons by 2020, at a CAGR of 2.66% from 2014 to 2020: Transparency Market Research

Dec 09, 2015, 08:30 ET from Transparency Market Research

ALBANY, New York, December 9, 2015 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Lubricant Additives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020," that defines and segments the global lubricant additives market with analysis and forecast of the global volume. The report observes that the global consumption of lubricant additives stood at 4,093.45 kilo tons in 2013 and is expected to reach 4,934.61 kilo tons by 2020, at a CAGR of 2.66% from 2014 to 2020.

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Key product segments analyzed in this study include viscosity index (VI) improvers, pour point depressants (PPD), detergents, dispersants, antioxidants, and other additives. The others segment includes additives such as corrosion inhibitors, anti-wear additives, metal deactivators, and extreme pressure additives. The antioxidants segment was further sub-segmented, based on type, into hindered phenolics, aromatic amines, and other antioxidants. In 2013, dispersants was the largest segment in terms of volume and accounted for more than 20% of the market share. Lubricant additives are blended with base oils to produce finished lubricants. These additives perform different functions to enhance the life and performance of finished lubricants. High performance by these additives also increases the life span of machinery and reduces maintenance cost. Lubricant additives are used in industries such as automobile, marine, aviation, and power.

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VI improvers reduce the viscosity of engine oils that results in better performance and lower carbon emissions. Dispersants prevent formation of varnish, sludge, and other deposits on critical surfaces of engines. PPDs boost the operational range of engine oils by interfering with the wax crystal growth patterns. Demulsifiers prevent formation of emulsion by altering the surface tension of the oil. Friction modifiers are long-chain polar additives that are added to reduce the surface friction of lubricated parts. Detergents function as chemical cleaners to guard combustion surfaces against harmful deposits and combustion acids. Antioxidant agents, also known as oxidation inhibitors, can successfully improve oxidation stability by deactivating catalytic metallic contaminants and by decomposing any formed reactive hydro peroxides within the oil. Similarly, anti-wear agents, foam inhibitors, rust inhibitors, and extreme pressure additives are added to impart specific properties to the finished lubricants.

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Some of the key players in the lubricant additives market include NewMarket Corporation, Infineum International Limited, Chevron Oronite Company LLC., The Lubrizol Corporation, and Tianhe Chemicals Group Limited. These companies compete with each other to increase their market share in the lubricant additives market. Research and development (R&D) to develop improved products is crucial to capture market share. It is difficult for a new company to enter the market, as it entails high investments for production facility and R&D activities. Most companies in the market produce specific additives. Only a few companies are active in the multi-line lubricant additives business.

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Lubricant Additives Market: Product Analysis 

  • VI Improvers
  • PPD (Pour Point Depressants)
  • Detergents
  • Dispersants
  • Antioxidants
  • Other Additives (Corrosion inhibitors, Metal deactivators, Anti-wear additives, etc.)

Lubricant Additives Market: Regional Analysis 

  • North America
  • Europe
  • Asia Pacific
  • Middle East
  • RoW (Rest of the world)

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