Global Lubricant And Fuel Additives Market Is Valued At 18308.07 Million US$ In 2018
Lubricating oil additives (LOAs) are used to enhance the performance of lubricants and functional fluids. Each additive is selected for its ability to perform one or more specific functions in combination with other additives. Selected additives are formulated into packages for use with a specific lubricant base stock and for a specified end-use application. The largest end use is in automotive engine crankcase lubricants. Other automotive applications include hydraulic fluids and gear oils. In addition, many industrial lubricants and metalworking oils also contain LOAs.
The major functional additive types are dispersants, detergents, oxidation inhibitors, antiwear agents, extreme-pressure additives, and viscosity index improvers. Fuel additives are compounds formulated to enhance the quality and efficiency of fuels used in motor vehicles. They increase a fuel's octane rating or act as corrosion inhibitors or lubricants, thus allowing the use of higher compression ratios for greater efficiency and power.
Lubricant additives are essential ingredients for making lubricating oils. Lubricant additives are used in a wide variety of vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids and virtually any other application where metal-to-metal moving parts are utilized. Fuel additives are chemical compounds that are used to improve both the oil refining process and the performance of gasoline, diesel, biofuels, and other fuels.
The global lubricant and fuel additives
market is expected to reach USD 21.25 billion by 2025, growing at a CAGR of more than 5.47% from 17.34 billion in 2018; the actual production is about 5.62 million tons in 2018. QYR analysis of the lubricant and fuel additives market indicated that north America would account for the highest consumption in 2025 as a result of advanced technology and mature market, but Asia Pacific has the highest growth rate, especially in China, India and Southeast Asia.
The lubricant and fuel additives is classified into additive package and single component according to the product type. As of 2018, additive package segment dominates the market contributing more than 74% of the total market share, reach to 4.18 million tons. lubricant and fuel additives is major applied in automotive, Industrial and others industry, in 2018, demand for a automotive industry occupied the largest market, with 70% share, reach to 3.93 million tons.
The lubricant and fuel additives market is very concentrated market; key players include Lubrizol, Infineum, Chevron Oronite, Afton, Lanxess AG, Innospec, BASF, Tianhe, Baker Hughes, Sanyo Chemical Industries, Adeka, Clariant, Vanderbilt, Dorf Ketal, IPAC, Miracema Nuodex, Additiv Chemie Luers the revenue of top ten manufacturers accounts about 87% of the total revenue, in 2018. The high-end products mainly come from North America and Europe.