Engine Oil Additive Market Size, Share, Industrial Growth Status and Global Outlook 2023 to 2032

Engine Oil Additive market is expected to register a CAGR of ~4.21% from 2022 to 2030 and hold a value of over USD 22.05 Billion by 2030.

Market Research Future Insights

According to MRFR analysis, the global Engine Oil Additive market is expected to register a CAGR of ~4.21% from 2022 to 2030 and hold a value of over USD 22.05 Billion by 2030.

Engine oil additives are chemicals that are used to enhance the performance of engine oils. The selection of additives is based on their ability to perform certain tasks alone or in combination with other additions. They are made to function with a certain base oil and for a specific purpose. Among the most popular kinds of functional additives include dispersants, antioxidants,  anti-wear agents, detergents, demulsifiers, viscosity modifiers, and extreme-pressure additives. The largest end-use for engine oil is in the automotive industry. Additionally, a wide range of industrial uses, including metalworking fluids, industrial engine oils, and so forth, require engine oil additives. Globally, the pandemic had a profound effect on people's lives. Every company must battle on two fronts to survive this era of forced recession—financial and health. There is growing indication that the recovery period will stretch far into the beginning of next year.

Regional Analysis

North America has the greatest market for engine oil additives because of its extensive manufacturing sector, stringent laws, and well-established automotive industry. European businesses with a long history, cutting-edge technology, and strict regulatory regulations are fueling demand for engine oil additives.

Due to the region's increasing vehicle industry, Asia-Pacific is the geographical market that is expanding at the highest rate. The largest development potential is in developing nations such as China, Thailand, and India.

Given the growing focus on improving industrial productivity and more consumer knowledge, the demand for engine oil additive is rising throughout the Middle East and Africa. Due to increased demand from the major end-use industries in the area, the market for Engine Oil Additives in Latin America is predicted to expand considerably.

Market Segmentation

The Global Engine Oil Additive market has been segmented into Information Type and End-User.

Based on the Information Type, the market has been segmented into Anti-Oxidants, Detergents, Corrosion inhibitors, and Dispersants.

Based on the End-User, the market has been segmented into Automotive, Industrial.

Key Players

  • BASF SE
  • Evonik 
  • LANXESS
  • Chevron Oronite
  • Croda International Plc
  • Lubrizol Corporation
  • Infineum International Ltd
  • Vanderbit Chemicals LLC
  • Lanzhou Lanlian Additive Co., Ltd
  • Jinzhou Kangtai Lubricant Additives Co., Ltd.
  • Wuxi South Petroleum Additive Co., Ltd.
  • Afton Chemical Japan Corporation

Browse Related Reports:

https://www.marketresearchfuture.com/reports/specialty-plasticizer-market-2781

https://www.marketresearchfuture.com/reports/titanium-dioxide-market-1081

https://www.marketresearchfuture.com/reports/leather-dyes-market-3126

https://www.marketresearchfuture.com/reports/polyolefins-market-2949

https://www.marketresearchfuture.com/reports/nonchlorinated-polyolefins-market-3626

 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com 

Website: https://www.marketresearchfuture.com 

 

 


Shubham Gurav

5 Blog posts

Comments