Lubricant Additives Market 2024 Forecast by 2032 and Market Segmentation Report

The SNS Insider report indicates that The Lubricant Additives Market size was valued at USD 17.58 billion in 2023. It is expected to grow to USD 24.05 billion by 2031 and grow at a CAGR of 4% over the forecast period of 2024-2031.

The Lubricant Additives Market is experiencing steady growth attributed to the expanding automotive and industrial sectors, where the demand for high-performance lubricants continues to rise. Lubricant additives play a crucial role in enhancing the efficiency, longevity, and reliability of lubricating oils by imparting desirable properties such as improved wear protection, oxidation resistance, viscosity control, and corrosion inhibition. With the increasing emphasis on energy efficiency, emissions reduction, and equipment reliability, manufacturers are increasingly relying on advanced lubricant additives to meet stringent performance requirements and extend the service life of machinery and engines. Moreover, the rapid expansion of automotive production, coupled with the growing demand for synthetic lubricants in high-performance applications, further drives the adoption of lubricant additives across diverse end-use industries.

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Major Key Players in the Lubricant Additives Market :

l Evonik Industries

l LANXESS

l BASF SE

l Croda International

l Chevron Oronite Company

l Hornett Brothers & Co. Ltd.

l Shamrock Shipping & Trading Ltd.

l Chemtura Corporation

l Afton Chemical Corp.

l Lubrizol Corp.

l Tianhe Chemicals Group

l Infineum International

l BRB International

l and other