Increased demand from the automotive industry and stringent environmental regulations regarding emission drive the growth of the global market.

WILMINGTON, DE, UNITED STATES, December 13, 2024 /EINPresswire.com/ -- The global lubricant additives market, valued at $18.3 billion in 2020, is projected to reach $31.3 billion by 2030, growing at a CAGR of 3.7% from 2021 to 2030.

Key Drivers of Growth

- Automotive Demand Surge: Increased adoption of lubricant additives in the automotive industry is a primary growth driver.
- Environmental Regulations: Stricter emission norms are fostering innovation and demand for high-performance additives.
- Emerging Economies: Developing markets present lucrative opportunities, bolstered by rapid industrialization.
- Challenges: Volatile crude oil prices pose significant hurdles to sustained market growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1405

Market Segmentation Insights

By Type:

- Dispersants: Dominated the market in 2020, holding over 25% share, due to their versatility in automotive and industrial applications.
- Antioxidants: Expected to witness the fastest CAGR of 4.7% during the forecast period, as they enhance lubricant performance at high temperatures.

By Application:

- Automotive Segment: Largest contributor, accounting for more than two-thirds of the 2020 market, driven by rising vehicle production globally.
- Industrial Segment: Poised to grow at a CAGR of 4.0%, fueled by industrial expansion and energy efficiency needs.

Regional Highlights

- Asia-Pacific: The leading region in 2020, accounting for over one-third of the global revenue. Its dominance is set to continue, with the fastest CAGR of 3.9% by 2030, attributed to a vast consumer base and the presence of key players.

- Followed by: LAMEA and North America, showcasing steady market growth driven by technological advancements and industrial adoption.

Key Players in the Market

- BASF SE
- Evonik Industries AG
- Infineum International Limited
- Chevron Oronite Company LLC
- Chemtura Corporation
- The Lubrizol Corporation
- Croda International PLC
- Afton Chemical Corporation
- Vanderbilt Chemicals LLC
- Rhein Chemie Corporation

With these players driving innovation and expansion, the lubricant additives market is primed for sustained growth.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/lubricant-additives-market/purchase-options

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.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.