Enjoy complimentary customisation on priority with our Enterprise License!
Report on How AI is Driving Market Transformation 
The industrial lubricant additives market size is forecast to increase by USD 1.53 billion at a CAGR of 3.59% between 2023 and 2028. The market is experiencing significant growth due to various driving factors. Firstly, substantial investments in the energy industries are leading to increased demand for high-performance lubricants. Secondly, there is a growing adoption of industrial lubricant additives in processing and packaging machinery to enhance productivity and reduce downtime. Stricter environmental restrictions have also necessitated the formulation of industrial lubricant additives that meet stringent emission norms. Additionally, the increasing focus on energy efficiency and cost savings is driving the market for advanced additives that improve lubricant performance and extend the life of machinery components. Overall, these trends are expected to continue fueling the growth of the market in the coming years.
The market is a significant sector in the global industrial landscape, focusing on enhancing the performance of various types of lubricants used in manufacturing facilities and transportation industries. The market includes the production and supply of additives for Automation and Robotic equipment, such as Lubricating oils, Turbine oils, Metalworking fluids, General industrial oils, Greases, and various other types like Combustion engines' Additive usage. Key additives include Oil viscosity modifiers, Corrosion inhibitors, and Chemical components. The market caters to various industries, including Automotive lubricants, Engine oils, Brake fluids, Transmission oils, Coolants, and Electric vehicles. Infineum International is a notable player in this market, providing base oils and additives for Heavy-duty lubricants, Passenger car lubricants, Mechanical engine oils, Transmission fluids, Hydraulic fluids, Gear oils, and Marine transportation applications. Energy management, Emissions, and various other factors influence the market's growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market share growth by the Engines segment will be significant during the forecast period. The market encompasses a wide range of products used in various industries to enhance the performance and longevity of hydraulic fluids, gear oils, compressor oils, cutting fluids, and other lubricants. These additives play a crucial role in sectors such as marine transportation, aviation transport, and manufacturing, including automotive, chemicals, petrochemicals, agriculture, textile, power generation, and food processing.
Get a glance at the market share of various regions Download the PDF Sample
The Engines segment was valued at USD 2.63 billion in 2018. Strict pollution regulations and fuel economy standards have driven the demand for additives that improve emission controls and fuel efficiency. Anti-wear agents, antioxidants, friction modifiers, thickeners, and tackifiers are some of the common additives used in lubricant formulation. In the aviation transportation sector, high-temperature lubricants and food-grade lubricants are essential for maintaining engine performance and ensuring food safety. The vehicle manufacturing decline due to the pandemic has affected the demand for automotive lubricants. However, future estimations indicate a rebound in demand as economic growth resumes. Domestic blending facilities have become increasingly important in ensuring the availability of high-quality lubricants. In the automotive aftermarket, there is a growing trend toward using synthetic lubricants and additives that offer better performance and longer service life. In the food processing sector, processed food products require food-grade lubricants that meet stringent safety and quality standards. The use of anti-wear additives, thickeners, and tackifiers in lubricant formulation ensures the smooth operation of machinery and equipment in this sector. The future of the market looks promising, with ongoing research and development in the areas of sustainability, biodegradability, and performance enhancement. Utility-scale electricity generation also relies on industrial lubricants and additives to ensure the efficient operation of power plants and turbines.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Industrial lubricant additives play a vital role in enhancing the performance and longevity of various types of lubricants, including hydraulic fluids and gear oils, used in diverse industries such as marine transportation, aviation transport, and manufacturing. With increasing pollution regulations and fuel economy standards, there is a growing demand for additive packs that cater to OEM engine blueprints, incorporating anti-wear agents, antioxidants, and friction modifiers. The aviation transportation sector is also adopting these advanced additives for emission controls and improved fuel efficiency. In the automotive aftermarket, domestic blending facilities produce mineral lubricants like compressor oils, cutting fluids, and textile finishing lubricants. The power generation, chemicals, and petrochemicals industries also rely on high-temperature lubricants and food-grade lubricants for their respective processes. The agriculture sector utilizes these additives in machinery to ensure smooth operation and productivity. Future estimations suggest continued growth in the market due to economic growth and the increasing demand for lubricant formulations that cater to various industries' unique requirements. Key applications include metal working fluids, hydraulic oils, chain oils, high-temperature lubricants, and food processing sector lubricants for processed food products. Additive types like thickeners, tackifiers, and anti-wear additives remain essential components of these formulations. In utility-scale electricity generation, industrial lubricant additives ensure the efficient operation of turbines and transformers, contributing to the overall reliability and productivity of power plants.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing investments in energy industries is notably driving market growth. The market is experiencing significant growth due to increasing investments in various energy sectors, particularly renewable energy and power generation. The expansion and evolution of these industries necessitate high-performance lubricant additives capable of meeting the demanding requirements of modern equipment.
Furthermore, specialized lubricants, such as diesel conditioners and gear oil treatments, fortified with patented polymeric and nanotechnology-based additives, play a crucial role in enhancing efficiency and reliability under challenging conditions. In 2024, global energy investments are projected to surpass USD 3 trillion, with approximately USD 2 trillion allocated to clean energy technologies and infrastructure. This substantial investment underscores the importance of advanced lubricant additives in the energy sector. Thus, such factors are driving the growth of the market during the forecast period.
The growing adoption of industrial lubricant additives in processing and packaging machinery is the key trend in the market. The market is experiencing significant growth due to the increasing utilization of these additives in various industries, particularly in processing and packaging machinery. With the expansion of sectors such as food and beverage, pharmaceuticals, and consumer goods, there is a heightened demand for efficient and reliable machinery to meet increasing production requirements.
Furthermore, these machines frequently encounter demanding conditions, including high speeds, pressures, and temperatures, necessitating the use of advanced lubricants for seamless and dependable operation. For instance, in the food and beverage industry, where cleanliness and equipment reliability are paramount, specialized lubricant additives play a crucial role in preventing contamination and ensuring consistent production quality. Moreover, as industries transition to more automated and high-speed machinery to cater to growing consumer demands, the importance of advanced lubricants becomes increasingly evident. Innovative additives, such as patented polymeric and nanotechnology-based additives, including Diesel conditioners and gear oil treatments, are gaining popularity for their ability to enhance lubricant performance and extend equipment lifespan. Thus, such trends will shape the growth of the market during the forecast period.
Stricter environmental restrictions for formulation of industrial lubricant additives is the major challenge that affects the growth of the market. The market faces a notable challenge due to escalating environmental regulations. Stricter norms are being enforced to mitigate concerns regarding emissions, waste, and the environmental impact of lubricants.
Furthermore, to meet these requirements, additives that are less harmful to the environment, biodegradable, and adhere to global standards are being formulated. Authoritative bodies such as the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) and the Occupational Safety and Health Administration (OSHA) in the US, and the European Union's Regulation No 1907/2006 and the Global Reporting Initiative (GRI) play a pivotal role in ensuring the safe production and usage of industrial additives and lubricants. In the automobile market, there is a growing preference for advanced additives like patented polymeric and nanotechnology-based additives in gear oil treatments and diesel conditioners to enhance performance and durability and reduce environmental impact. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Afton Chemical - The company offers industrial lubricant additives which can be used in wide range of applications such as Wind Turbine, Industrial Gear and others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand for automation and the usage of robotic equipment in various industries. Lubricating oils, turbine oils, metalworking fluids, general industrial oils, greases, and other types of oils are the primary consumers of additives in the market. The additives used in these oils include corrosion inhibitors, viscosity index improvers, dispersants, and detergents. The manufacturing facilities in the automotive, power generation, and construction industries are the major consumers of industrial lubricant additives. The usage of additives in combustion engines, both in automotive and industrial applications, is also driving the market growth. The increasing consolidation in the market and the implementation of environmental regulations are some of the key factors influencing the market. The market for industrial lubricant additives is diverse and includes various types of additives and applications. Chevron Oronite, Evonik Industries, Lubrizol, Infineum International, and other key players are investing in chemical initiatives to develop new additives and expand their product portfolios. The market for heavy-duty lubricants and passenger car lubricants is expected to grow significantly due to the increasing demand for energy management and emissions reduction in various industries. The usage of renewable energy sources and the growing popularity of electric vehicles are also impacting the market.
Furthermore, the market for transmission fluids and coolants is expected to grow due to the increasing demand for efficient energy management in various industries. The market for base oils, solids, and chemical components is also expected to grow due to the increasing demand for high-performance lubricants. In conclusion, the Market is expected to grow significantly due to the increasing demand for automation, the usage of robotic equipment, and the growing demand for high-performance lubricants in various industries. The market is diverse and includes various types of additives and applications, and the key players are investing in chemical initiatives to expand their product portfolios and meet the evolving needs of their customers. The market is also influenced by various factors such as environmental regulations, toxicity, and emissions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
214 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 3.59% |
|
Market growth 2024-2028 |
USD 1.53 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
3.23 |
|
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 55% |
|
Key countries |
China, US, Japan, Germany, and India |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Afton Chemical, BASF SE, BRB International BV, Chevron Corp., Clariant AG, DOG Deutsche Oelfabrik, Dover Chemical Corp., Eni SpA, Evonik Industries AG, Exxon Mobil Corp., FUCHS PETROLUB SE, Infineum International Ltd., Italmatch Chemicals Spa, King Industries Inc., Lanxess AG, Lucas Oil Products Inc., The Lubrizol Corp., Valvoline Inc., and Wuxi Southern Petroleum Additives Co. Ltd. |
|
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Application
9 Market Segmentation by Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
With the growing adoption of AI across industries, Technavio has analyzed its impact on industrial lubricant additives market driven by the integration of Artificial Intelligence (AI). AI is revolutionizing Industrial Lubricant Additives by advancing performance analytics, refining betting systems, optimizing breeding programs, and elevating the fan experience. This analysis delves into AI's impact on the Industrial Lubricant Additives market, backed by data and real-world examples.
These insights, available exclusively through Technavio, provide an unparalleled significant impact of AI on the industrial lubricant additives market, backed by real-world examples and data.
The report provides details of AI's impact on various segment
Learn more about how AI is transforming industrial lubricant additives market - Buy Full Report Now
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
