#Lubricant Additives Market Analysis

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Lubricant Additives Market Growth, Drivers, Trends & Forecast 2024-2031

The global lubricant additives market is poised for significant growth, driven by the rising demand for high-performance lubricants across automotive, industrial, and marine sectors. According to SkyQuest Technology, the market is projected to reach a valuation of USD 24.1 billion by 2031, expanding at a CAGR of 4.3% from 2024 to 2031. Lubricant additives play a crucial role in enhancing the performance, durability, and efficiency of lubricants, making them indispensable across multiple industries.

Market Drivers: What’s Fueling the Growth?

The demand for lubricant additives is primarily driven by several key factors:

Rising Automotive Production and Sales The expanding automotive industry, especially in emerging markets, is a major growth driver. Additives such as dispersants, detergents, and viscosity modifiers improve engine performance and fuel efficiency, meeting modern vehicle requirements.

Stringent Environmental Regulations Increasing government regulations aimed at reducing emissions and improving fuel economy are pushing manufacturers to develop eco-friendly additives. Low-sulfur and high-performance additives are gaining traction.

Growth in Industrial Machinery Rapid industrialization and the increasing adoption of advanced machinery across sectors like manufacturing, construction, and energy have elevated the demand for high-quality lubricants with specialized additives.

Advancements in Additive Technologies Continuous R&D efforts have led to the development of innovative additives that enhance lubricant properties, such as anti-wear, anti-corrosion, and oxidation stability.

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Market Segmentation: Key Categories

The lubricant additives market is segmented based on type, application, and end-use:

By Type

Dispersants: Prevent sludge formation by keeping contaminants in suspension.

Viscosity Index Improvers: Enhance the lubricant's viscosity stability under varying temperatures.

Detergents: Eliminate deposits and maintain engine cleanliness.

Anti-Wear Agents: Protect surfaces from frictional damage.

Others: Including antioxidants, rust inhibitors, and friction modifiers.

By Application

Engine Oils: The largest segment, essential for vehicles and machinery.

Gear Oils: Used in transmission systems for smooth operation.

Hydraulic Fluids: Widely utilized in industrial and mobile equipment.

Metalworking Fluids: Growing demand from manufacturing industries.

By End-Use Industry

Automotive: Leading the market due to growing vehicle fleets.

Industrial: Driven by the need for efficient machinery lubrication.

Marine and Aviation: Growing focus on enhancing equipment longevity.

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Regional Insights: Market Trends Across the Globe

North America North America leads the market due to strong demand for advanced lubricants in automotive and industrial applications. The U.S., in particular, is witnessing robust growth due to its large industrial base and stringent environmental policies.

Europe Europe remains a significant market, driven by automotive innovations and regulatory pressure to reduce carbon emissions. Countries like Germany and the UK are key contributors.

Asia-Pacific The Asia-Pacific region is the fastest-growing market, fueled by rapid urbanization, industrialization, and a growing automotive industry in China, India, and Japan. The rising demand for fuel-efficient vehicles further accelerates growth.

Rest of the World The Middle East, Latin America, and Africa are witnessing steady growth due to increasing industrial activities and infrastructure development projects.

Key Players in the Lubricant Additives Market

The lubricant additives market is competitive, with leading companies focusing on innovation, strategic partnerships, and sustainability:

Chevron Oronite Company LLC

The Lubrizol Corporation

BASF SE

Afton Chemical Corporation

Infineum International Limited

Evonik Industries AG

Croda International PLC

Lanxess AG

Dorf Ketal Chemicals

Chevron Corporation

Wuxi South Petroleum Additives Co., Ltd.

These players are developing advanced additive solutions that comply with environmental regulations while enhancing the efficiency and performance of lubricants.

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Key Trends Shaping the Lubricant Additives Market

Focus on Bio-Based Lubricants The shift toward bio-based lubricants and additives is gaining momentum as industries prioritize sustainability and lower environmental impact.

Rising Adoption of High-Performance Lubricants With modern engines operating under extreme conditions, there is increasing demand for additives that enhance thermal stability and wear protection.

Technological Advancements Innovations in additive formulations, such as nanotechnology-based lubricants, are enhancing efficiency and extending lubricant lifespans.

Growing Use of Additives in Electric Vehicles (EVs) The rise of electric vehicles has opened new opportunities for additives designed to optimize cooling, lubrication, and system efficiency.

The Road Ahead for Lubricant Additives

The global lubricant additives market is on a steady growth trajectory, driven by advancements in automotive technology, stringent environmental regulations, and the rise of industrial activities. As the demand for fuel-efficient and eco-friendly solutions grows, market players are focusing on developing innovative, high-performance additives to meet evolving industry requirements.

With Asia-Pacific emerging as a hotspot for growth and bio-based solutions becoming a focal point, the lubricant additives market is set for transformative changes in the years to come.

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An In-Depth Analysis of the Marine Lubricants Industry : Lubricating the Future of Shipping

The global marine lubricants market size is expected to reach USD 10.27 billion by 2030, registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing concerns regarding oceanic pollution caused by improper engine function and subsequent demand for fuel-efficient engines are estimated to trigger the growth of the market.

Growth in international trade, removal of trade barriers being the principal reason, is encouraging developing countries to concentrate more on the improvement of their infrastructure, such as roads, airports, and seaports, which play a vital role in the development of the economy. Product storage, along with the capacity to move large shipments, has placed the shipping industry in a very advantageous position.

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Global shipping majors, just like other segments of the conventional transport industry, are increasingly getting integrated with emerging global logistics and supply chain activities, owing to both external and internal dynamics. These factors have aided industry participants in substantially consolidating their market position and supplementing their ocean freight income, subsequently stoking the demand for marine lubricants.

Engine oils dominated the market over 46.0% volume share in 2022. These products are widely used in high, medium, and slow speed marine engines to extend service life and protect interior components from high temperatures & pressure. Some lubricants even offer additive protection against crankcases, camshaft areas, under-crowns, and ring belts.

Other products such as refrigeration compressor oils are specifically formulated to perform in extreme temperature environments and consist of HFC, CFC, and ozone-friendly refrigerants. These lubricants significantly prevent congealing on valves.

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Technical Grade Butylated Hydroxytoluene  Market Demand, Opportunities and Forecast By 2031

The Technical Grade Butylated Hydroxytoluene Market sector is undergoing rapid transformation, with significant growth and innovations expected by 2031. In-depth market research offers a thorough analysis of market size, share, and emerging trends, providing essential insights into its expansion potential. The report explores market segmentation and definitions, emphasizing key components and growth drivers. Through the use of SWOT and PESTEL analyses, it evaluates the sector’s strengths, weaknesses, opportunities, and threats, while considering political, economic, social, technological, environmental, and legal influences. Expert evaluations of competitor strategies and recent developments shed light on geographical trends and forecast the market’s future direction, creating a solid framework for strategic planning and investment decisions.

Brief Overview of the Technical Grade Butylated Hydroxytoluene Market:

The global Technical Grade Butylated Hydroxytoluene Market is expected to experience substantial growth between 2024 and 2031. Starting from a steady growth rate in 2023, the market is anticipated to accelerate due to increasing strategic initiatives by key market players throughout the forecast period.

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Which are the top companies operating in the Technical Grade Butylated Hydroxytoluene Market?

The report profiles noticeable organizations working in the water purifier showcase and the triumphant methodologies received by them. It likewise reveals insights about the share held by each organization and their contribution to the market's extension. This Global Technical Grade Butylated Hydroxytoluene Market report provides the information of the Top Companies in Technical Grade Butylated Hydroxytoluene Market in the market their business strategy, financial situation etc.

Sasol Limited (South Africa), LANXESS (Germany), Eastman Chemical Company (US), Oxiris Chemicals S.A. (Spain), HELM AG (Germany), Finoric LLC (US), Honshu Chemical Industry Co., Ltd (Japan), Twinkle Chemi Lab Pvt Ltd (India), Yasho Industries Ltd (India), Milestone Preservatives Pvt Ltd (India)

Report Scope and Market Segmentation

Which are the driving factors of the Technical Grade Butylated Hydroxytoluene Market?

The driving factors of the Technical Grade Butylated Hydroxytoluene Market are multifaceted and crucial for its growth and development. Technological advancements play a significant role by enhancing product efficiency, reducing costs, and introducing innovative features that cater to evolving consumer demands. Rising consumer interest and demand for keyword-related products and services further fuel market expansion. Favorable economic conditions, including increased disposable incomes, enable higher consumer spending, which benefits the market. Supportive regulatory environments, with policies that provide incentives and subsidies, also encourage growth, while globalization opens new opportunities by expanding market reach and international trade.

Technical Grade Butylated Hydroxytoluene Market - Competitive and Segmentation Analysis:

**Segments**

- By Application: Food Additive, Fuel Additive, Polymer Additive, Lubricating Oils, Rubber, Industrial Oils, Coatings, Others - By End-Use Industry: Food & Beverage, Automotive, Chemical, Pharmaceutical, Cosmetics, Others

The global technical grade butylated hydroxytoluene market is anticipated to witness substantial growth during the forecast period of 2022 to 2031. This growth can be attributed to the increasing demand for antioxidants in various industries such as food & beverage, automotive, pharmaceutical, and cosmetics. Butylated hydroxytoluene, also known as BHT, is widely used as an antioxidant to prevent the oxidation of materials and extend their shelf life. The food additive segment is expected to dominate the market due to the rising awareness regarding the importance of food preservation and increasing focus on food safety among consumers. Additionally, the automotive and pharmaceutical industries are projected to be significant contributors to the market growth as BHT is extensively used in lubricating oils and pharmaceutical formulations.

The fuel additive segment is also expected to showcase considerable growth owing to the growing automotive industry and the need to enhance fuel efficiency. Moreover, the polymer additive and rubber segments are likely to witness steady growth due to the increasing demand for these materials in various end-use industries such as construction, electronics, and packaging. The coatings and industrial oils segments are anticipated to create lucrative opportunities for market players due to the expanding construction and manufacturing sectors worldwide. Overall, the diverse applications and end-use industries of technical grade butylated hydroxytoluene signify a positive outlook for market growth in the coming years.

**Market Players**

- BASF SE - Eastman Chemical Company - Merck KGaA - LANXESS - Oxiris Chemicals S.A. - Milestone Preservatives Pvt. Ltd. - KH Chemicals

Key market players in the global technical grade butylated hydroxytoluene market are focusing on strategic initiativesThe global technical grade butylated hydroxytoluene market is highly competitive with key players such as BASF SE, Eastman Chemical Company, Merck KGaA, LANXESS, Oxiris Chemicals S.A., Milestone Preservatives Pvt. Ltd., and KH Chemicals leading the industry. These companies are actively engaging in strategic initiatives to maintain their market position and drive growth in the market. Strategies such as mergers and acquisitions, partnerships, product innovations, and expansions are being employed by these players to stay ahead of the competition and meet the evolving needs of customers.

BASF SE, a prominent player in the market, has a strong presence in the butylated hydroxytoluene market with a wide product portfolio catering to diverse industries. The company focuses on research and development to introduce innovative products that meet the stringent requirements of various end-use industries. Eastman Chemical Company is another key player known for its high-quality butylated hydroxytoluene products and commitment to sustainability. By investing in sustainable practices and enhancing product offerings, Eastman Chemical Company is aiming to capture a larger market share and maintain its competitive edge.

Merck KGaA is a global player with a robust presence in the technical grade butylated hydroxytoluene market. The company's focus on continuous improvement and customer-centric approach has enabled it to build strong customer relationships and expand its market reach. LANXESS, a leading specialty chemicals company, is known for its innovative solutions and customized offerings in the butylated hydroxytoluene market. By leveraging its technical expertise and industry knowledge, LANXESS continues to introduce advanced products that address the specific needs of customers across different sectors.

Oxiris Chemicals S.A., Milestone Preservatives Pvt. Ltd., and KH Chemicals are also noteworthy players in the global technical grade butylated hydroxytoluene market. These companies play a vital role in driving market growth through their product innovation, quality assurance, and**Market Players**

Sasol Limited (South Africa) LANXESS (Germany) Eastman Chemical Company (US) Oxiris Chemicals S.A. (Spain) HELM AG (Germany) Finoric LLC (US) Honshu Chemical Industry Co., Ltd (Japan) Twinkle Chemi Lab Pvt Ltd (India) Yasho Industries Ltd (India) Milestone Preservatives Pvt Ltd (India)

The global technical grade butylated hydroxytoluene market is poised for significant growth driven by the rising demand for antioxidants across various industries like food & beverage, automotive, pharmaceutical, and cosmetics. The market is witnessing a surge in applications such as food additives, fuel additives, polymer additives, lubricating oils, rubber, industrial oils, coatings, among others. The food additive segment is expected to lead the market growth due to increased emphasis on food preservation and safety. The automotive and pharmaceutical sectors are also likely to fuel market expansion with the extensive use of butylated hydroxytoluene in lubricating oils and pharmaceutical formulations. Furthermore, the fuel additive segment is anticipated to witness substantial growth owing to the escalating automotive industry and the need for improved fuel efficiency.

In terms of end-use industries, the market is segmented into food & beverage, automotive, chemical, pharmaceutical, cosmetics, among others. Among these, the food & beverage industry is expected to dominate the market due to the growing awareness regarding food safety and the importance of antioxidant properties in food preservation. Moreover,

North America, particularly the United States, will continue to exert significant influence that cannot be overlooked. Any shifts in the United States could impact the development trajectory of the Technical Grade Butylated Hydroxytoluene Market. The North American market is poised for substantial growth over the forecast period. The region benefits from widespread adoption of advanced technologies and the presence of major industry players, creating abundant growth opportunities.

Similarly, Europe plays a crucial role in the global Technical Grade Butylated Hydroxytoluene Market, expected to exhibit impressive growth in CAGR from 2024 to 2031.

Explore Further Details about This Research Technical Grade Butylated Hydroxytoluene Market Report https://www.databridgemarketresearch.com/reports/global-technical-grade-butylated-hydroxytoluene-market

Key Benefits for Industry Participants and Stakeholders: –

Industry drivers, trends, restraints, and opportunities are covered in the study.

Neutral perspective on the Technical Grade Butylated Hydroxytoluene Market scenario

Recent industry growth and new developments

Competitive landscape and strategies of key companies

The Historical, current, and estimated Technical Grade Butylated Hydroxytoluene Market size in terms of value and size

In-depth, comprehensive analysis and forecasting of the Technical Grade Butylated Hydroxytoluene Market

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters

The countries covered in the Technical Grade Butylated Hydroxytoluene Market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA

Detailed TOC of Technical Grade Butylated Hydroxytoluene Market Insights and Forecast to 2031

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Technical Grade Butylated Hydroxytoluene Market Landscape

Part 05: Pipeline Analysis

Part 06: Technical Grade Butylated Hydroxytoluene Market Sizing

Part 07: Five Forces Analysis

Part 08: Technical Grade Butylated Hydroxytoluene Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Technical Grade Butylated Hydroxytoluene Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

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Industrial Gear Oils Market

Industrial Gear Oils Market Overview:

Industrial Gear Oils Market Size is forecast to reach $ 5820.0 Million by 2030, at a CAGR of 3.80% during forecast period 2024–2030.

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According to an IndustryArc report, the Industrial Gear Oils Market in 2030 was valued at $5820.0 million and is expected to grow rapidly considering the large industrialization and manufacturing activities especially in the BRICS (Brazil, Russia, India, China and South Africa) region. Industrial Gear oils are used across various industries namely the mining, construction, energy, oil and gas, chemicals, food and beverage industries as they involve heavy machinery and drive systems which need to be heavily lubricated, well oiled, under heavy pressures and high temperatures. This market is segmented based on its applications, end user industry and gearbox configuration. One application which is witnessing a large demand for Industrial Gear Oils is the renewable energy industry in the construction of wind turbines.

Industrial Gear Oils Market Outlook:

Industrial Gear oils are made of 2 major ingredients — the base oil and additives — that aim to suppress undesirable properties and enhance desirable ones so as to ease the functioning of automatic transmission. Wind energy, one of the popular renewable energy source has become a favorite worldwide, particularly in the European Union. The efficiency of the wind-turbines clearly depends on the reliability of the gear boxes that are an integral part of these machines. In addition, worm gear drives in industrial applications such as lifts, elevators, conveyor belts and torsen differentials are also witnessing a large demand. Thus, for the effective, reliable and long term running of these gear based machines, gear oils help to fulfill these requirements.

Industrial Gear Oils Market Growth drivers:

As the wind energy is rapidly evolving and a high growth industry, this large growth rate would directly boost the demand for high performance, excellent corrosion and oxidation resistance, enhanced bearing and long life operational performance industrial gear oil. Furthermore, as the developing countries in the APAC region such as India and China invest and build large manufacturing facilities and transportation technologies due to heavy urbanization and population growth, the reliable operation of machines in these sectors would be vital, which are impacted by gear oil performance. In addition, many responsible customers who are environment friendly and prefer sustainable alternatives to synthetic oil gears, would increasingly demand for bio-based alternatives.

Industrial Gear Oils Market Challenges:

The prime challenge faced by the Industrial Gear Oils market is the unstable crude oil market wherein the latter could directly impact the former, as crude oil is the prime raw material needed to manufacture gear oils for industries. Crude oil is the most volatile product in the world, and thus selling price of certain industrial gear oils would be dictated by the fluctuating prices of oil. Moreover, as concerns for environmental impact of industrial gear oils are rising among many industrial customers, key players would be forced to develop and market bio-based lubricants that are derived from vegetable oils that deliver an equivalent performance when compared to synthetic or mineral based gear oils.

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Industrial Gear Oils Market Research��Scope:

The base year of the study is 2023, with forecast done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Industrial Gear Oils market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the Industrial Gear Oils market, and their specific applications in different types of vehicles.

Industrial Gear Oils Market Report: Industry Coverage

Industrial Gear Oils– By Gear Configuration: Worm Gears, Spur Gears, Helical Gears, Bevel Gears, Light Duty Gears and Others

Industrial Gear Oils– By Application: Wind Turbine Gearboxes, Shock loads, Mining Machinery, Extreme loads, Worm drives and others

Industrial Gear Oils– By Make-up: Synthetic, Mineral oil, Additives, Bio-based and others

Industrial Gear Oils– By End-User: Agriculture, Chemicals, Oil and gas, Mining, Energy and Power, Construction, Food and Beverage, Transportation and Fleet, Paper and Pulp and Others

The Industrial Gear Oils market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

Middle East and Africa: Israel, South Africa, Saudi Arabia

Industrial Gear Oils Market Key Players Perspective:

Some of the Key players in this market that have been studied for this report include: Addinol Lube Oil GmbH, Advanced Lubrication Specialitis Inc., Amalie Oil Co., BP P.L.C., Bechem Lubrication Technology LLC, Chevron Corporation, Croda International PLC, ExxonMobil Corporation and others.

Market Research and Market Trends of Industrial Gear Oils Market

Researchers at the Nanotechnology & Catalysis Research Centre (NANOCAT), University of Malaya, Malaysia developed a potential antioxidant for Industrial Gear Oils. Esters of Thiolated Butylated Hydroxytoluene (BHT) derived from vegetable oils were discovered to have profound antioxidant properties, a vital property in industrial gear oils that prevent oxidation, rust and As the gear oils used in heavy duty industries are exposed to high temperatures and heavy pressures, the thermal stability, antioxidant behavior, structural integrity and performance are a cause of concern for many industrial customers. End user industries are aiming for gear oils with longer life cycles and which fulfill the above criteria. Bio-based lubricants available in the market have yet to compete on par with synthetic based gear oils and thus discoveries like this can push the green industrial gear oils to become a viable replacement to environmentally damaging synthetic and mineral based lubricants.

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Researchers are actively seeking improvised nanomaterials for functioning as a lubricant additive due to their compact size and large surface area. A novel attempt to create an oil soluble Ni-promoted Molybdenum disulfide (MoS2) nanostructure has been successful by the Centre for NanoScience and Technology based in India. As industries aim to deliver gearboxes that are expected to operate heavy loads at high speeds and harsh conditions, without undergoing major surface failures and frictional damages. Thus, nanotechnology additive solutions as this can prove to improve the performance of traditionally used industrial gear oils thereby driving growth and increased demand for high performance gear oils.

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Global Grease Market: Key Drivers, Size, and Share Forecast (2024-2032)

The global grease market size was valued at USD 6.36 billion in 2023. The market is projected to grow from USD 6.60 billion in 2024 to USD 9.49 billion by 2032 at a CAGR of 4.6% during the forecast period. Grease offers effective lubrication across an array of operating conditions such as heavy loads and high temperature. The rising product deployment across numerous industries, such as mining and construction, fuels industry growth.

Segmentation:

Mineral Oil Segment Registered Major Share Owing to Friction-Reducing Properties

Based on base oil, the market is segregated into synthetic oil, bio-based oil, and mineral oil. The mineral oil segment accounted for a prominent share of the global market in 2023. The oil assists in decreasing wear and friction between moving parts, which is one of the major attributes fueling segment growth.  

Automotive Segment Led the Market Due to Benefit of Smooth Longevity of Auto Parts

By application, the market is categorized into mining, power generation, construction, food & beverage, agriculture, automotive, and others. The automotive segment bagged a dominating position of the global market in 2023. The use of grease provides smooth longevity of automotive parts and offers protection against corrosion, water, friction, and wear, driving segmental expansion.

On the basis of geography, the market has been analyzed across Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.

Report Coverage:

The report represents an account of the key trends in the market. It further gives an insight into the prominent factors anticipated to drive market expansion over the coming years. An analysis of the market based on various segments has also been provided in the report. The market has been analyzed based on base oil, application, and geography.  

List of Key Players Mentioned in the Report:

Exxon Mobil Corporation (U.S.)

Total Energies (France)

Shell PLC (U.K.)

Chevron Corporation (U.S.)

P. PLC (U.K.)

FUCHS (Germany)

Sinopec (China)

PETRONAS (Malaysia)

CONDAT Group (France)

Klüber Lubrication (Germany)

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Drivers and Restraints:

Market to Witness New Opportunities with Increasing Development of Eco-Friendly Products

The growing adoption of environment-friendly products and soaring environmental awareness are anticipated to boost grease market growth. The use of eco-friendly solutions provides cost savings in terms of cleanup and disposal. In addition, there has been an enforcement of strict environmental regulations in Europe, North America, and Asia Pacific, leading to the development of eco-friendly lubricating solutions.

Nevertheless, uncertainties associated with the cost of raw materials owing to geopolitical tensions and volatility of oil and gas prices may hinder industry growth.   

Regional Insights:

Asia Pacific Accounted for Prominent Share Driven by Launch of High-Speed Rail Systems

Asia Pacific market size reached USD 2.81 billion in 2023. The regional grease market share stood at a major position in the global market owing to the launch of high-speed rail systems to improve transport infrastructure in the region.

North America is touted to expand owing to the increasing mining and construction sectors in the region.

Key Market Trends

Growing Demand for High-Performance Grease: The increasing need for equipment that operates under extreme conditions has driven the demand for synthetic and specialty greases. These products offer better performance in terms of temperature resistance, load-carrying capacity, and durability.

Shift Toward Eco-Friendly Grease: Environmental concerns and stringent regulations are driving the growth of bio-based greases, particularly in developed markets like Europe and North America. These greases reduce the environmental impact and provide sustainable solutions for various industries.

Technological Advancements: The development of new additives and thickeners that enhance grease performance is another key trend. Innovations in nano-lubricants and self-healing grease are expected to boost market growth over the forecast period.

Increasing Demand from Emerging Economies: Rapid industrialization and urbanization in countries like India, China, and Brazil are boosting the demand for grease in construction, automotive, and industrial sectors.

Focus on Maintenance Efficiency: As industries aim to reduce downtime and increase the lifespan of machinery, the use of high-quality lubricants like grease is becoming crucial. This trend is particularly strong in sectors like manufacturing, where equipment reliability is key to operational success.

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Competitive Landscape:

Leading Industry Players Strike Partnerships to Consolidate their Positions in the Market

Major market players are forging collaborations and undertaking capacity expansion initiatives to consolidate industry positions. These steps are also being deployed for gaining a competitive edge. B.P. PLC and Exxon Mobil Corporation are some of the leading companies in the market.

Key Industry Development:

February 2024 – Chevron announced the addition of Rykon to its product portfolio. The overbased calcium sulfonate complex grease has been launched for improving durability and enhancing uptime for next-gen equipment.

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PVC Additives Market-Industry Forecast, 2024–2030

PVC Additives Market overview

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Report Coverage

The report: “PVC Additives Market- Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the PVC Additives Industry.

By Type: Stabilizers, Impact Modifiers, Processing Aids, Lubricants, Plasticizers, Fillers, Others.

By Form: Granules, Powder, and Liquid.

By Fabrication Process: Extrusion, Injection Molding, Blow Molding and Others.

By Application: Pipes, Packaging, Furniture’s, Door and Windows, Cables, Medical Devices, Flooring, and Others.

By End Use: Building and Construction, Automotive industry, Textile Industry, Electrical and Electronics, Medical Industry, Food and Beverages, and Others.

By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

Asia Pacific dominates the PVC Additives market owing to rapid increase in building and construction sector.

Certain applications require higher impact strength than PVC would demonstrate normally.

The market drivers and restraints have been assessed to understand their impact over the forecast period.

The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.

The other key areas of focus include the various applications and end use industry in PVC Additives market and their specific segmented revenue.

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PVC Additives Market Segment Analysis — By Type

Stabilizers held the largest share in the PVC Additives market in 2019. This growth is mainly attributed to the increasing demand for stabilizers in varied applications such as pipes & fittings, rigid & semi-rigid films, and others. Due to their superior properties, such as UV resistance, weathering and heat-aging, stabilizers are increasingly favored over other types of additives. To avoid premature degradation, many polymers are vulnerable to environmental degradation and require the addition of a stabilizer such as an antioxidant or UV absorbent. Hampered phenols and obstructed amine light stabilizers (HALS) deactivate emerging radicals, like air-oxidated peroxy compounds. UV absorbers dissipate UV radiation through the material by a method that is non-destructive. Monomers are added to free radical inhibitors as stabilizers to prevent premature polymerization.

PVC Additives Market Segment Analysis — By Forms

Granules held the largest share in the PVC Additives market in 2019. Granules help to increase the density of the freshly synthesized polymer since it lacks the flowing properties required to be processed by an extruder. Due to their plasticity property, they can be molded or shaped by application of heat. Other characteristics of plastic are its low electrical conductivity, low density, transparency and toughness which allowed it to be used for the creation of different products. In addition, plastic’s versatility has led to its use in a wide array of industries. In order to produce normal and high-strength concretes, 10%, 20%, and 30% replacement ratios by volume of PVC granules and powder are used.

PVC Additives Market Segment Analysis — By Fabrication Process

Extrusion held the largest share in the PVC Additives market in 2019. Extrusion is used mainly for handling large plastic volumes. The pellets, granules, chips, or powders are fed into the extruder and melted under high temperatures. PVC compounding is a process where additives are mixed with the base resin in order to obtain a homogenous mix. The additives are used either to enhance process capabilities or to improve product efficiency. The use of sizing parts will generate any length of profiles to the desired length. Co-extrusion allows the manufacture of semi-finished multi-layer products with special barrier properties.

PVC Additives Market Segment Analysis — By Application

Pipes is projected to witness highest share in PVC Additives market in 2019. This rise is mainly due to the growing demand for pipes & fittings in piping and plumbing, gas pipeline laying, and telecommunication and electrical cable sheathing. Due to the replacement of traditional concrete, iron, and steel-based pipes & fittings with PVC pipes in the building & construction industry, the market for PVC additives in the pipes & fittings segment is expected to witness significant development. The market for building materials is on high demand, with the continually growing population. The prerequisite for housing is pipes and fittings, which are a critical necessity. Urbanization with a large network of connections has contributed to an increase in drainage requirements. There is a growing demand for pipes and fittings to cope with advanced piping links, which in turn drives market growth. Globally, there has been a rising demand for rainwater harvesting system that has helped to heat up the pipe and fit market. In 2019, recently the commercial sector has slowed as the risk for a downturn in global construction increases due to COVID-19 pandemic which led to temporary lockdown of all economic activities across globe.

PVC Additives Market Segment Analysis — By End Use

Building and construction dominates the PVC Additives market growing at a CAGR of 6.00%. With the growing construction industry and its demand for PVC Additives particularly in the regions of Asia-Pacific, North America and Europe, the demand of PVC Additives for all kinds of buildings is expected to see an upsurge. Residential application segment is witnessing growth due to the rising penetration from untapped markets. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market. Furthermore, R&D in PVC Additives will support the growth of the PVC Additives market.

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PVC Additives Market Segment Analysis — Geography

Asia-Pacific (APAC) dominated the PVC Additives market growing at CAGR of 41% followed by North America and Europe. APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India, Japan, and South Korea are expected to grow more in the coming years. China is driving much of the PVC Additives market demand in Asia-Pacific region followed by India and Japan. Of the five fastest growing regions in construction sector, other than U.S. all are Asian countries including China and India who majorly drive the demand for construction investment in this regions. The strong and healthy growth in construction sector is associated with growing population and middle class economy, which tend to drive APAC residential construction market further and hence the PVC Additives market. The number of buildings that have illuminated PVC Additives is growing sharply in APAC region. The increasing number of new building constructions, along with the rise in the number of renovation projects has further propelled the market. Currently the construction industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.

PVC Additives Market Drivers

Replacement of conventional material with PVC will drive the market

PVC is replacing traditional building materials such as wood, metal, concrete and clay in many applications. Versatility, cost-effectiveness and excellent use record make it the most important polymer in the construction sector, accounting for 60%. These products are often lighter, less expensive and offer many performance advantages. Making it prominent material than conventional.

Rapid industrialization and infrastructure activity will augment the growth of PVC Additives

Improvement in economic climate along with boom in industrialization and infrastructure activity across the globe is leading the growth of PVC Additives. Oxford Economics has estimated global infrastructure investment needs to be $94 trillion between 2016 and 2040. This is 19 percent higher than would be delivered under current trends. With the increasing rate of industrialization and infrastructure activity, as a result of which PVC Additives growth is augmenting.

PVC Additives Market Challenges

Low R&D expenditure in the emerging markets and high maintenance cost will hamper the market to growth

Innovation is the key to developing new products, but most manufacturers are not investing much into R&D. Rather than cutting-edge technology, they invest in creating relevant technology. These factors are hampering the growth of the market. Because most of the pipes and fittings are located underground in the event of any malfunction or failure, the cost of repairs can be even greater.

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Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the PVC Additives market. In 2019 the PVC Additives market has been consolidated by the top five players accounting for xx% of the share. Major players in the PVC Additives market are BASF SE, Arkema SA, Akzo Nobel N.V, Adeka Corporation, Clariant AG and Others.

Acquisitions/Technology Launches/ Product Launches

In April 2017, Lanxess Corporation has completed acquisition of Chemtura. With this acquisition, Lanxess significantly expands its market position for PVC additives. A notable sampling includes: the sale of its proprietary OBS (organic-based heat stabilizers) for rigid PVC applications to Baerlocher; the sale of the rest of its PVC additives business to Galata Chemicals.

Key Market Players

The Top 5 companies in the PVC Additives Market are:

BASF SE

Arkema SA

Akzo Nobel N.V

Adeka Corporation

Clariant AG

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[bommagoni]

Lubricant Additives Market Size, Share, Growth Analysis 2024

[m-arathe]

Fluid Dispensing Equipment Market Growth Strategic Market Overview and Growth Projections

The global fluid dispensing equipment market size was valued at USD 9.11 billion in 2021 and is projected to reach USD 14.76 billion by 2030 at a CAGR of 5.51% from 2022 to 2030.

The latest Global Fluid Dispensing Equipment Market by straits research provides an in-depth analysis of the Fluid Dispensing Equipment Market, including its future growth potential and key factors influencing its trajectory. This comprehensive report explores crucial elements driving market expansion, current challenges, competitive landscapes, and emerging opportunities. It delves into significant trends, competitive strategies, and the role of key industry players shaping the global Fluid Dispensing Equipment Market. Additionally, it provides insight into the regulatory environment, market dynamics, and regional performance, offering a holistic view of the global market’s landscape through 2032.

Competitive Landscape

Some of the prominent key players operating in the Fluid Dispensing Equipment Market are 

Speedline Technologies

Musashi

ITW Dynatec

Valco

Dymax

GPD Global

Fisnar

Henline Adhesive Equipment

IVEK Corp.

Sulzer Mixpac.

Get Free Request Sample Report @ https://straitsresearch.com/report/fluid-dispensing-equipment-market/request-sample

The Fluid Dispensing Equipment Market Research report delivers comprehensive annual revenue forecasts alongside detailed analysis of sales growth within the market. These projections, developed by seasoned analysts, are grounded in a deep exploration of the latest industry trends. The forecasts offer valuable insights for investors, highlighting key growth opportunities and industry potential. Additionally, the report provides a concise dashboard overview of leading organizations, showcasing their effective marketing strategies, market share, and the most recent advancements in both historical and current market landscapes.Global Fluid Dispensing Equipment Market: Segmentation

The Fluid Dispensing Equipment Market segmentation divides the market into multiple sub-segments based on product type, application, and geographical region. This segmentation approach enables more precise regional and country-level forecasts, providing deeper insights into market dynamics and potential growth opportunities within each segment.

On the Basis of Products

Flux

Lubricant

Solder Paste

Adhesives and Sealants

Epoxy Adhesives

Epoxy Underfill

Conformal Coatings

Others

On the Basis of Types

Manual System

Automated Robotics System

On the Basis of Forms

Liquid Fluid

Gaseous Fluid

On the Basis of Application

Bonding

Filling

Lubricating

Sealing

On the Basis of End-Users

Medical Devices

Transportation

Construction

Electrical and Electronics

Semiconductor Packaging

Printed Circuit Boards

Food and Beverages

Others

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Market Highlights:

A company's revenue and the applications market are used by market analysts, data analysts, and others in connected industries to assess product values and regional markets.

But not limited to: reports from corporations, international Organization, and governments; market surveys; relevant industry news.

Examining historical market patterns, making predictions for the year 2022, as well as looking forward to 2032, using CAGRs (compound annual growth rates)

Historical and anticipated data on demand, application, pricing, and market share by country are all included in the study, which focuses on major markets such the United States, Europe, and China.

Apart from that, it sheds light on the primary market forces at work as well as the obstacles, opportunities, and threats that suppliers face. In addition, the worldwide market's leading players are profiled, together with their respective market shares.

Goals of the Study

What is the overall size and scope of the Fluid Dispensing Equipment Market market?

What are the key trends currently influencing the market landscape?

Who are the primary competitors operating within the Fluid Dispensing Equipment Market market?

What are the potential growth opportunities for companies in this market?

What are the major challenges or obstacles the market is currently facing?

What demographic segments are primarily targeted in the Fluid Dispensing Equipment Market market?

What are the prevailing consumer preferences and behaviors within this market?

What are the key market segments, and how do they contribute to the overall market share?

What are the future growth projections for the Fluid Dispensing Equipment Market market over the next several years?

How do regulatory and legal frameworks influence the market?

Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.

Contact Us

Email: sales@straitsresearch.com 

Tel: UK: +44 203 695 0070, USA: +1 646 905 0080

[me-amaraja]

Greenhouse Film Market Trends and Growth Forecast for 2024

Greenhouse Film Market Growth Strategic Market Overview and Growth Projections

The global greenhouse film market size was valued at USD 5.7 billion in 2022 and is projected to reach USD 8.6 billion by 2031, registering a CAGR of 4.8% during the forecast period (2023-2031).

The latest Global Greenhouse Film Market by straits research provides an in-depth analysis of the Greenhouse Film Market, including its future growth potential and key factors influencing its trajectory. This comprehensive report explores crucial elements driving market expansion, current challenges, competitive landscapes, and emerging opportunities. It delves into significant trends, competitive strategies, and the role of key industry players shaping the global Greenhouse Film Market. Additionally, it provides insight into the regulatory environment, market dynamics, and regional performance, offering a holistic view of the global market’s landscape through 2032.

Competitive Landscape

Some of the prominent key players operating in the Greenhouse Film Market are 

Dupont

SOLVAY

DAIKIN

Dow

Halocarbon LLC

Freudenberg SE

The Chemours Company

Metalubgroup

M&I Materials Limited

Nye Lubricants Inc.

Lubrilog

ECCO Gleittechnik GmbH

HUSK-ITT Corporation

Central Chemie GmbH

IKV Tribology Ltd.

Get Free Request Sample Report @ https://straitsresearch.com/report/greenhouse-film-market/request-sample

The Greenhouse Film Market Research report delivers comprehensive annual revenue forecasts alongside detailed analysis of sales growth within the market. These projections, developed by seasoned analysts, are grounded in a deep exploration of the latest industry trends. The forecasts offer valuable insights for investors, highlighting key growth opportunities and industry potential. Additionally, the report provides a concise dashboard overview of leading organizations, showcasing their effective marketing strategies, market share, and the most recent advancements in both historical and current market landscapes.Global Greenhouse Film Market: Segmentation

The Greenhouse Film Market segmentation divides the market into multiple sub-segments based on product type, application, and geographical region. This segmentation approach enables more precise regional and country-level forecasts, providing deeper insights into market dynamics and potential growth opportunities within each segment.

By Resin Type

Low-Density Polyethylene (LDPE)

Linear Low-Density Polyethylene (LLDPE)

Ethylene Vinyl Acetate (EVA)

Others

By Thickness

80<200 Microns

200 Microns

>200 Microns

By Functionality

Diffused GHF

Photo-selective GHF

Anti-dirt GHF

Others

By Application

Fruits

Vegetables

Flowers and Ornamentals

Stay ahead of the competition with our in-depth analysis of the market trends!

Buy Now @ https://straitsresearch.com/buy-now/greenhouse-film-market

Market Highlights:

A company's revenue and the applications market are used by market analysts, data analysts, and others in connected industries to assess product values and regional markets.

But not limited to: reports from corporations, international Organization, and governments; market surveys; relevant industry news.

Examining historical market patterns, making predictions for the year 2022, as well as looking forward to 2032, using CAGRs (compound annual growth rates)

Historical and anticipated data on demand, application, pricing, and market share by country are all included in the study, which focuses on major markets such the United States, Europe, and China.

Apart from that, it sheds light on the primary market forces at work as well as the obstacles, opportunities, and threats that suppliers face. In addition, the worldwide market's leading players are profiled, together with their respective market shares.

Goals of the Study

What is the overall size and scope of the Greenhouse Film Market market?

What are the key trends currently influencing the market landscape?

Who are the primary competitors operating within the Greenhouse Film Market market?

What are the potential growth opportunities for companies in this market?

What are the major challenges or obstacles the market is currently facing?

What demographic segments are primarily targeted in the Greenhouse Film Market market?

What are the prevailing consumer preferences and behaviors within this market?

What are the key market segments, and how do they contribute to the overall market share?

What are the future growth projections for the Greenhouse Film Market market over the next several years?

How do regulatory and legal frameworks influence the market?

About Straits Research

Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.

Contact Us

Email: sales@straitsresearch.com 

Tel: UK: +44 203 695 0070, USA: +1 646 905 0080

[communicationblogs]

Aviation Lubricant Market — Forecast(2024–2030)

Aviation Lubricant Market Overview

Aviation Lubricants are the chemical compounds that provide a fluid barrier between various parts of an aircraft and are used as engine oil, hydraulic fluid, piston engine oil and grease, etc. in aircraft. Hence, these lubricants are either mineral-based which is derived from crude oil, or synthetic-based derived from petroleum, but the most common lubricants used in aircraft are calcium sulfonate and perfluoropolyether which are both synthetic based. Hence drivers for the aviation lubricant market include an increase in the volume of air passenger traffic, an increase in the number of air fleets by airlines, increase in usage of effective aircraft engines such as turbofans engine. However, the major challenge in the aviation lubricant market is that, as the aviation lubricants are derived from crude oil, hence the fluctuating price of crude oil disrupts the manufacturing of lubricants. Hence such disruptions caused by price fluctuation have hampered the growth of the aviation lubricant industry.

As sustainability gains prominence, the aviation lubricant market is witnessing a notable shift towards bio-based lubricants. Manufacturers are increasingly investing in research and development to formulate lubricants derived from renewable resources, reducing environmental impact and meeting stringent regulatory requirements. The aviation lubricant market is experiencing a surge in demand for advanced synthetic lubricants. These high-performance formulations offer superior stability, thermal resistance, and extended service intervals, contributing to enhanced aircraft efficiency and reduced maintenance costs.

COVID-19 Impact

COVID-19 pandemic had negatively impacted the aviation lubricant market on a global level, as the restrictions and lockdown imposed by governments all across the globe caused a shortage of labor, decrease in the supply of spare parts due to import-exports restriction, and shutdown of various production plants. Hence all this hampered the productivity of the aerospace sector and reduced the demand for new aircraft. For instance, as per the 2021 report of the General Aviation Manufacturers Association, the Global business jet deliveries declined 20.4% to 644 aircraft in 2020 due to the COVID-19 pandemic. As per the 2021 finance report of Boeing, the company saw 40% less funding towards new aircraft deliveries in 2020 compared to 2019, and also the company reduced production of aircrafts 787s & 777s while halting production of 737max. Reduction in the demand and production of new aircraft and halting of maintenance work due to labor shortage reduced the demand for lubricants like grease, engine oil, hydraulic fluids that are used in such aircraft. Hence such reductions in demand negatively impacted the growth of the aviation lubricant industry. However, the industry slowly recovered from the pandemic through government support, debt sales, and cost reduction actions.

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Report Coverage

The report: “Aviation Lubricant Market — Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aviation Lubricant Industry.

By Product Type — Grease, Hydraulic fluid, Engine Oil, Turbine Oil, Cum Pressure Oil, Special Lubricant & Additives, Others

By Lubricant Type — Synthetic, Mineral based

By Aviation Type — Commercial, Military, General, Helicopter, Others

By Application Type — Hydraulic system, Engine, Landing gear, Airframe, others

By End User — Original Equipment Manufacturer (Engine cases, Combustor Components, Bearing Housing, Vanes, Manifold, Shaft nuts & gears, Others), Maintenance Repair Overhaul (Rotating components, Stationary seals, Frame & Casings)

By Geography — North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa).

Key Takeaways

• Investments in new-generation aircraft especially in the commercial aircraft segment are continuously growing especially in developing markets such as India. Hence with such an increase in investments in aircraft, the demand for lubricants to be used in them will also increase.

• Liquid lubricant is pumped throughout the engine to the parts that require lubrication and reduction of friction during engine performance increase the potential power output. Hence due to reason lubricants have high applicability in aircraft engines.

• North America dominates the aviation lubricant market as the region has U.S and Canada is one of the major aircraft manufacturing countries showing a significant increase in their air commute, new orders for aircraft and components.

Aviation Lubricant Market Segment — By Product

Engine oil held the largest share in the aviation lubricant market in 2023, with a share of over 40%. This owns to factors like high consumption of engine oil during the flight hours as they can be circulated readily and when engine parts are in constant friction the engine oil lubricates them and prevents wear & tear of parts. The increasing usage of advanced engines like turbofan engines in aircraft has positively impacted the demand for engine oil in them. For instance, in July 2023, the deal for LEAP engines, which will power Air India’s future fleet of 210 Airbus A320/A321neos and 190 Boeing 737 MAX family aircraft, has been finalized by Air India and CFM International. A multi-year services agreement covering the airline’s whole fleet of LEAP engines was also signed by both businesses. Hence with the usage of such advanced engines, the demand for efficient engine oil like synthetic-based oil that would enable these engines to function well at high temperatures will also increase. Such an increase in engine oil usage will create more demand for aviation lubricants, thereby positively impacting the growth of the aviation lubricant industry.

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Aviation Lubricant Market Segment — By Lubricant Type

Synthetic lubricant held the largest share in the aviation lubricant market in 2023, with a share of over 35%. This owns to factors like synthetic lubricants like perfluoropolyether and calcium sulfonate provides good thermal-oxidative stability, good deposit control capability and due to low volatility provides superior performance. Hence synthetic lubricants enable jet engines to operate at high temperatures. With the airline companies increasing their aircraft strength to meet the increasing traveling scale of air passengers, hence the necessary amount of lubrication would be required to keep such aircraft in working condition. For instance, in February 2023, the most anticipated airplane of the upcoming years is without a doubt the Airbus A321XLR. With an early 2024 aim for entering service, the European behemoth is presently awaiting certification for the narrowbody. With over 550 orders placed by 26 clients, the XLR is still very popular even though the pandemic threatens to slow things down. Hence with such an increase in the demand for aircraft from major airline companies the demand for high-performance synthetic lubricants like perfluoropolyether will also increase.

Aviation Lubricant Market Segment — By Aviation Type

Commercial aviation held the largest share in the aviation lubricant market in 2023, with a share of over 45%. This owns to factors like increase in the production rate of heavy aircraft commercial airliners in major aircraft manufacturers like Airbus, Raytheon Technologies, United Aircraft Corporation, Boeing, etc. owing to an increase in domestic and international traveling volume, especially in emerging economies like India. For instance, in January 2023, Airbus SE recorded 1,078 gross new orders in 2022 and delivered 661 commercial aircraft to 84 customers. By December 2022, Airbus had 7,239 aircraft on backorder. Hence with the increase in the demand for a commercial airliner, the demand for effective lubricants like calcium sulfonate which is used in engine oil, transmission fluids, gear oil, etc. will also increase. thereby showing a positive impact on the aviation lubricant market.

Aviation Lubricant Market Segment — By Application

The engine held the largest share in the aviation lubricant market in 2023, with a share of over 35%. With commercial air transport rapidly developing in various emerging markets like China, India, etc. the demand for new and efficient aircraft models has increased. Hence this has raised the demand for an efficient engine like turbo engines that would be used in these aircraft. For instance, in July 2023, Air India recently finalized orders with the engine manufacturer for over 800 LEAP engines to power its new fleet of 210 Airbus A320neo/A321neo and 190 Boeing 737 MAX family jetliners, strengthening CFM International’s market position in India. Hence as the usage of advanced LEAP engines increases, the demand for lubricants like engine oil and grease will also increase, thereby increasing the demand for the aviation lubricant market in this segment of the application.

Aviation Lubricant Market Segment — By End User

Maintenance repair overhaul held the largest share in the aviation lubricant market in 2023, with a share of over 40%. The maintenance work consists of base maintenance, line maintenance, and different level checks which an aircraft goes through during its lifetime. To ensure that the aircraft flies efficiently without facing any issues, maintenance work is considered a necessary step. Hence this has led to the creation of agreements between aircraft companies and manufacturers. For instance, in October 2023, Cyprus Airways has chosen Airbus’ Flight Hour Services (FHS) to support their A220 Family aircraft, making Airbus the third European FHS customer for an A220 fleet and the sixth FHS contract for an A220 globally, the company revealed. Hence as the maintenance contract of such major aircraft manufacturers increases, this would lead to an increase in usage of lubricants used during the maintenance work. Hence such an increase in usage will positively impact demand for aviation lubricants in such aircraft manufacturers.

Aviation Lubricant Market Segment — By Geography

North America held the largest share in the aviation lubricant market in 2023, with a share of over 30%. This owns to factor like the region being a hub for major aircraft manufacturing companies like Boeing, Embraer in U.S and Bombardier in Canada, and also the region consists one of the largest shares of the world domestics passengers. For instance, in September 2023. As per Airports Council International, It is projected that the North American region will have 2.0 billion passengers by the end of 2023, or 99.8% of the 2019 level, which is close to the 2019 level. Despite the fact that domestic travel drove the region’s robust rebound in 2021 and 2022. Hence with a growing number of airline passengers, the demand for more aircraft especially commercial aircraft has increased which has positively impacted the demand for aviation lubricants in the U.S and Canadian aviation market.

Aviation Lubricant Market Drivers

Increase in volume of aircraft production

Hence with the increase in demand for defense & commercial aircraft and their components in regions like Europe & North America has led to an increase in the production volume of major aircraft manufacturers like Airbus & Boeing. For instance, in February 2023, the ramp-up trajectory for the A320 Family program has been modified in collaboration with suppliers. Moreover, the company is currently working toward producing 65 aircraft per month by the end of 2024 and 75 aircraft per month by the end of 2026. As anticipated, the monthly manufacturing rate of A330 reached about 3 by the end of 2022, and the company is now aiming for rate 4 by 2024. There are currently six airplanes every month for the A350. After a feasibility analysis with the supply chain and in order to fulfill the increasing demand for widebody aircraft as international air travel recovers, the company is now aiming for a monthly production rate of nine A350s by the end of 2025. Hence with such an increase in the production of major aircraft manufacturers, the aviation lubricant like perfluoropolyether to be used in them would also increase thereby positively impacting the aviation lubricant industry in terms of lubricant demands.

Increase in usage of turbofan engines

Modern engines in terms of reliability and efficiency depend directly on the effectiveness of the lubricating system. lubrication is responsible for cooling internal parts of the engine which are acting relative to each other creating friction and heat which results in overheating. The introduction of advanced turbofans engines by major aircraft engine manufacturers like CFM International, Pratt & Whitney, Rolls Royce, etc. has increased their demand by airline companies for their aircraft. For instance, in September 2022, Williams’ turbofan engine fleet, which includes about 7,000 FJ44 and FJ33 engines, has accumulated more than 18 million flying hours. The engines are installed on a range of airframes, including the Cessna CJ series, Beechcraft Premier, Cirrus SF50, and Nextant reconditioned light jets. Hence the increase in demand for such advanced turbofan engines has positively impacted the demand for aviation lubricants such as calcium sulfonate which would be used as grease, hydraulic fluids in such engines.

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Aviation Lubricant Market Challenges

The fluctuating price of crude oil

Lubricant oil is extracted from crude oil after going through a series of processes like sedimentation, fractioning, hence the lube oil collected after these processes is mixed with additives to create base oil which is used in the manufacturing of aviation lubricants like engine oil, piston oil, etc. Hence the price of crude oil keeps fluctuating due to geopolitical, whether or supply chain mishap reasons which disrupt the flow of crude oil to markets. Such disruption leads to irregular production of lubricants thereby causing a misbalance between demand and supply of lubricants. As per the U.S. Energy Information Administration, In 2023, the average price of Brent crude oil was $83 per barrel (b), a $19/b difference after rounding. In 2022, the price was $101/b. With Russia’s crude oil finding homes outside of the EU, global markets adjusted to the new trade dynamics, and demand for crude oil fell short of projections worldwide. Such a decrease in crude oil demand reduced the lubricant output for aircraft thereby negatively impacting the aviation lubricant market.

Aviation Lubricant Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Aviation Lubricant’s top 10 companies include:

1. Total Group

2. Exxon Mobil Corporation

3. Royal Dutch Shell Plc.

4. Eastman Chemical Company

5. The Chemours Company

6. The Phillips 66 Company

7. NYCO

8. Lukoil

9. Aerospace Lubricant Inc

10. Nye Lubricants

[janetushar1]

Lubricants For Wind Turbines Market to Hit $275.9 Million by 2032

The global Lubricants For Wind Turbines Market was valued at USD 155.9 Million in 2024 and it is estimated to garner USD 275.9 Million by 2032 with a registered CAGR of 8.5% during the forecast period 2024 to 2032.

Global Lubricants For Wind Turbines Market Research Report 2024, Growth Rate, Market Segmentation, Lubricants For Wind Turbines Market. It affords qualitative and quantitative insights in phrases of market size, destiny trends, and nearby outlook Lubricants For Wind Turbines Market. Contemporary possibilities projected to influence the destiny capability of the market are analyzed in the report. Additionally, the document affords special insights into the opposition in particular industries and diverse businesses. This document in addition examines and evaluates the contemporary outlook for the ever-evolving commercial enterprise area and the prevailing and future outcomes of the market.

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The Major Players Profiled in the Market Report are:-

CNPC, Exxon Mobil, BP, Total Lubricants, Quaker Chemical, Southwestern Petroleum Corporation, CNOOC, Axel Christiernsson, Klüber, Dow Corning, FUCHS, SKF, Sinopec, Indian Oil Corporation, Chevron, Petro-Canada, JX Nippon, Oil & Energy Corporation, LUKOIL, Shell.

Lubricants For Wind Turbines Market 2024 covers powerful research on global industry size, share, and growth which will allow clients to view possible requirements and forecasts. Opportunities and drivers are assembled after in-depth research by the expertise of the construction robot market. The Lubricants For Wind Turbines Market report provides an analysis of future development strategies, key players, competitive potential, and key challenges in the industry.

Global Lubricants For Wind Turbines Market Report 2024 reveals all critical factors related to diverse boom factors inclusive of contemporary trends and traits withinside the worldwide enterprise. It affords a complete review of the top manufacturers, present-day enterprise status, boom sectors, and commercial enterprise improvement plans for the destiny scope.

The Lubricants For Wind Turbines Market document objectives to offer nearby improvement to the market using elements inclusive of income revenue, destiny market boom rate. It gives special observation and analysis of key aspects with quite a few studies strategies consisting of frenzy and pestle evaluation, highlighting present-day market conditions. to be. Additionally, the document affords insightful records approximately the destiny techniques and opportunities of worldwide players.

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Global Lubricants For Wind Turbines Market, By Region

1) North America- (United States, Canada, Mexico, Cuba, Guatemala, Panama, Barbados, and many others)

2) Europe- (Germany, France, UK, Italy, Russia, Spain, Netherlands, Switzerland, Belgium, and many others)

3) the Asia Pacific- (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Vietnam, and many others)

4) the Middle East & Africa- (Turkey, Saudi Arabia, United Arab Emirates, South Africa, Israel, Egypt, Nigeria, and many others)

5) Latin America- (Brazil, Argentina, Colombia, Chile, Peru, and many others)

This Lubricants For Wind Turbines Market Research/analysis Report Contains Answers to your following Questions

What trends, challenges, and barriers will impact the development and sizing of the global market?

What is the Lubricants For Wind Turbines Market growth accelerator during the forecast period?

SWOT Analysis of key players along with its profile and Porter’s five forces analysis to supplement the same.

How much is the Lubricants For Wind Turbines Market industry worth in 2019? and estimated size by 2024?

How large is the Lubricants For Wind Turbines Market? How long will it keep growing and at what rate?

Which section or location will force the market and why?

What is the important thing current tendencies witnessed in the Lubricants For Wind Turbines Market?

Who are the top players in the market?

What and How many patents are filed by the leading players?

What is our Offering for a bright industry future?

The Research Objectives of this Report are to:-

Company, key regions/countries, merchandise and applications, historical records from 2018 to 2022, and global Lubricants For Wind Turbines Market till 2032. Study and analyze the market length (cost and volume).

To recognize the structure of Lubricants For Wind Turbines Market via way of means of figuring out its numerous subsegments.

Lubricants For Wind Turbines Market on the subject of the primary regions (with every essential country). Predict the cost and length of submarkets.

To examine the Lubricants For Wind Turbines Markets with appreciation to person boom trends, destiny prospects, and their contribution to the general market.

To examine aggressive trends consisting of expansions, contracts, new product launches, and acquisitions withinside the market.

Strategic profiling of key gamers and complete evaluation of growth strategies.

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Reasons to Buy Market Report

The market record presents a qualitative and quantitative analysis of the market based on segmentation that includes each economic and non-economic element.

Lubricants For Wind Turbines Market through the region. The market evaluation highlights the consumption of products/services in areas and well-known shows elements influencing the market in every region.

Lubricants For Wind Turbines Market. It consists of an in-depth analysis of the market from specific views via Market Porter's Five Forces Analysis and provides insights into the market via the Value Chain.

The Lubricants For Wind Turbines Market file provides an outline of market fee (USD) information for every segment and sub-segment.

It consists of an in-depth analysis of the market from distinct views via a 5 forces analysis of the Lubricants For Wind Turbines Market and offers insights into the market through the fee chain.

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Manual Lubrication Management System Research Report by Manufacturers, Region, Type and Application

Latest Research Report on “Manual Lubrication Management System Market” | Survey with Valuable Insights

The 2024 market research report for Manual Lubrication Management System Market offers a comprehensive analysis of the industry, covering key aspects such as trends, opportunities, risks, and drivers. It provides a detailed evaluation of the market's revenue, size, and volume, while also assessing the product portfolios, capacities, and revenues of leading companies. Additionally, the report delves into various industry segments.

According to Straits Research, the global Manual Lubrication Management System market size was valued at USD 1.2 billion in 2023. It is projected to reach from USD 1.3 billion in 2024 to USD 1.6 billion by 2032, growing at a CAGR of 3.1% during the forecast period (2024–2032). The report places particular emphasis on the Industrial Adhesive market, examining its overall size, segment size (including product type, application, and geography), competitive landscape, current status, and development trends. It also offers strategic insights for companies to navigate the challenges posed by COVID-19.

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TOP Key Industry Players of the Manual Lubrication Management System Market

SKF

Graco Inc.

Whitmore Manufacturing LLC

Trico Corporation

Lubrication Technologies Inc.

Lubrigard

Specialised Force Pty Ltd.

PT. JSG International.

Manual Lubrication Management System Market Segmental Analysis

As a result of the Manual Lubrication Management System market segmentation, the market is divided into sub-segments based on product type, application, as well as regional and country-level forecasts.

By Component

Storage Systems

Lubricant Handling Containers

Distribution Tools

By End-Users

Food and Beverage

Oil and Gas

Mining

Paper and Pulp

Steel

Transportation

Power Generation

Cement

Construction

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Regional Analysis Manual Lubrication Management System Market

The regional analysis section of the report offers a thorough examination of the global Manual Lubrication Management System market, detailing the sales growth of various regional and country-level markets. It includes precise volume analysis by country and market size analysis by region for both past and future periods. The report provides an in-depth evaluation of the growth trends and other factors impacting the Manual Lubrication Management System market in key countries, such as the United States, Canada, Mexico, Germany, France, the United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia. Moreover, it explores the progress of significant regional markets, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

New Additions in the 2024 Report:

Expanded Industry Overview: The report now includes a more comprehensive and detailed industry overview.

In-Depth Company Profiles: Enhanced profiles providing deeper insights into key industry players.

Customized Reports and Analyst Support: Tailored reports and direct access to analyst support available upon request.

Insights on Market Developments: Updated information on recent market trends and future growth opportunities.

Regional/Country-Specific Customization: Reports tailored to specific regions and countries according to your needs.

Key Highlights

Examine the Manual Lubrication Management System Market: This includes an introduction, analysis of product types and applications, an overview of the market, and a country-by-country market analysis. The study also explores market opportunities, risks, and driving forces.

Profile Manufacturers: The research focuses on manufacturers of Manual Lubrication Management System, including detailed profiles, primary business activities, recent news, sales, pricing, revenue, and market share.

Competitive Landscape Overview: Provide an overview of the competitive landscape among the world's leading manufacturers, highlighting their sales, revenue, and market share.

Market Segmentation Analysis: Illustrate the market segmented by type and application, with detailed breakdowns of sales, price, revenue, market share, and growth rate for each segment.

Regional Market Analysis: Analyze key regions, including North America, Europe, Asia Pacific, the Middle East, and South America. This includes sales, revenue, and market share data segmented by manufacturers, types, and applications.

Production Cost Investigation: Investigate production costs, essential raw materials, and the production methods used in the industry.

Reasons to Purchase This Report:

Access to Comprehensive Information: Gain access to an extensive collection of analysis, research, and data that would be challenging to acquire independently. This report offers valuable insights, saving you considerable time and effort.

Enhanced Decision-Making: Equip yourself with detailed insights into market trends, consumer behavior, and key industry factors. This report provides essential information for strategic planning, including decisions on investments, product development, and marketing strategies.

Achieving Competitive Advantage: Stay ahead in your industry by understanding market dynamics and competitor strategies. This report delivers deep insights into competitor performance and market trends, enabling you to craft effective business strategies and maintain a competitive edge.

Credibility and Reliability: Trust in the expertise of industry professionals and the accuracy of thoroughly researched data. Authored by experts and grounded in rigorous research and analysis, this report enhances credibility and reliability.

Cost-Effective Research: Reduce research expenses by investing in this comprehensive report instead of conducting independent research. It provides a cost-effective means of accessing detailed analysis and insights on a specific topic without requiring extensive resources.

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Lubricant Additives Market,Industry Forecast, 2024–2030.

Lubricant Additives Market Overview

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The increasing public interest in sustainable products has been a driving force behind the growing demand for Lubricant Additives. This trend aligns with the significant traction seen in bio-based lubricant additives, propelled by environmental concerns and regulatory pressures surrounding emission norms. These additives, derived from renewable resources, offer eco-friendly and sustainable solutions, reducing dependency on traditional petroleum-based additives. They exhibit improved biodegradability, lower toxicity, and enhanced lubrication performance. Manufacturers are investing in research to develop innovative bio-based additives that meet stringent performance requirements across various applications, from automotive to industrial lubricants. The increasing adoption of bio-lubricants is driven by a growing emphasis on sustainability and a push for greener alternatives across industries.

Additionally, there’s a growing demand for lubricant additives that offer multifunctional benefits beyond basic lubrication. Advanced functional additives are designed to cater to specific applications and address evolving performance requirements such as anti-wear, extreme pressure protection, friction reduction, and viscosity control. Manufacturers are focusing on developing additives with improved thermal stability, oxidation resistance, and compatibility with modern base oils. These additives are crucial for meeting the demands of high-performance engines, machinery, and equipment in diverse industries like automotive, aerospace, marine, and manufacturing. The trend is shifting towards tailored additives that offer enhanced performance under extreme operating conditions, prolonging equipment lifespan and reducing maintenance costs.

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COVID-19 Impact

COVID-19 pandemic had negatively impacted the lubricant additives market on a global level, as due to restrictions and lockdown imposed by governments all across the globe, the productivity went down of various manufacturing sectors like metalworking, fabricating oil & gas, chemicals, consumer goods, etc. But the automobile sector was majorly hit, as there was shutting down of large part of the auto industry and its many suppliers around the world. Hence due to this, vehicle usage, as well as vehicle sales, took a downfall. And as lubricants additives are used mainly in heavy-duty and passenger vehicle lubricants, so with the decline in vehicle production the demand for lubricant additives especially the passenger vehicle lubricant in the automotive segment also declined. As per the International Organization of Motor Vehicle Manufacturing, in 2020 there was a 16% global decline in vehicles production i.e., less than 78 million vehicles, with all major producing regions like the U.S, Brazil, Germany having a sharp decline of 11% to 44% and Europe saw a drop of 21% on average.

Market Snapshot:-

Report Coverage

The report: “Lubricant Additive Market — Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Lubricant Additive Industry.

By Product Type — Hydraulic Oil, Gear Oil, Engine Oil, Transmission Oil, Compressor Oil (Air Compressor Oil, Gas Compressor Oil, Refrigerator Compressor Oil)

By Additive Type — Anti-Oxidants, Anti-Wear, Viscosity Improvers, Corrosion Inhibitors, Detergents, Dispersants, Others

By Application — Heavy Duty engine, Metal Working Fluids, Industrial Machinery, Others

By End-user-industry — Construction (Draglines, Crane, Bulldozer, Dump Trucks, Others), Automotive (Passenger Vehicles, Heavy Vehicles, Light Vehicles, Others), Agriculture (Tractors, Harvester, Balers, Harrows, Others), Food & Beverages, Energy (Wind Turbine, Solar Plant, Hydropower plant) Manufacturing, Others By Geography — North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

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Key Takeaways

Bio-lubricants are becoming a suitable replacement for petroleum-based lubricants as they provide better lubricity, high flashpoint, high viscosity index. And as bio-based lubricants are derived from bio-based raw material, so they are environmentally friendly.

Asia-Pacific region dominates the Lubricant Additive Market, industrial and automotive sector in countries like China, India, Japan is rapidly advancing. The region has become a global manufacturing and commercial hub where several major companies are planning to invest to expand their global image

The development of new and efficient lubricating technology like Matched Molecular Chemistry, which is more efficient, requires less maintenance and water cooling for industrial application has created significant growth opportunities for the lubricant additive industry

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Lubricant Additive Market Segment Analysis — By Product Type

Engine oil held the largest share in the Lubricant Additive Market in 2023, with a share of over 30%. As it helps to preserve engine performance, reduce wear and tear of machinery, provide prolonged life to it with consistent use, therefore it is used for all different kinds of machinery and engines. They are also used in heavy industrial equipment such as automobiles or construction equipment. For instance, In August 2023, China implemented robust measures to address its property market crisis, including the relaxation of mortgage policies and the initiation of guidelines for affordable housing construction. Hence such demand for affordable housing and an increase in infrastructure projects will drive construction in the country, due to which demand for engine oil used in heavy equipment like cranes and scrapers used in the construction sector will also increase.

Lubricant Additives Market Segment Analysis — By Additive Type

Viscosity index improvers held the largest share in the lubricant additives market in 2023, with a share of over 35%. Viscosity improver is majorly used to enhance the performance of the engine as it improves the performance of lubricant at high and low temperatures. As they are made of a polymeric molecule, so they are sensitive to changes in temperature i.e., the molecular chain contracts at low temperature and relax at high temperature. The automotive industry is the main user of this additive. In 2022, motor vehicle production in the U.S increased up to 9.8%. And, as per the European Association of Motorcycle Manufacturers, New motorcycle registrations in five of the largest European markets i.e. France, Germany, Italy, Spain and the UK) reached 873,985 units during the first nine months of 2023. This represents an increase of approximately 11.8% compared to the same period in 2022. As the production of two-wheeler and motor vehicles are increasing in the automotive sector in these regions, so demand for viscosity index improvers which is used in various automobile oils like engine oil, gear oil, hydraulic oil, transmission oil, etc. will also increase.

Lubricant Additive Market Segment Analysis — By Application

Heavy-Duty Engine held the largest share in the Lubricant Additive Market in 2023, with a share of around 40%. The lubricant for the heavy-duty engine is mainly used in heavy and off-road equipment like diesel trucks, bulldozers, Graders, etc. And it provides certain benefits like enhancing fuel economy, increase in engine life, minimizing downtime for equipment and vehicle, etc. As the equipment is used mainly in construction projects so their selection depends upon the work and economy of the project. For instance, in 2022, construction projects surged notably in the U.S., driven by policies like the IIJA and CHIPS Act, notably boosting facilities such as semiconductor factories and automobile assembly plants. Hence, with the increase in such construction projects the demand for lubricants used in heavy-duty equipment like a bulldozer, excavators will also increase.

Lubricant Additive Market Segment Analysis — By End User

The automotive segment held the largest share in the Lubricant Additive Market in 2023, with a share of over 45%. Lubricant additives are used in an automobile to clean, cool, prevent metal parts from corrosion and rust. Lubricants like engine oil are used to enhance fuel efficiency and performance of the engine in automobiles and gear oil is used in automobile gearbox to protect gear parts from high mechanical pressure. Hence with the rapid development in the automotive sector and increase in production of vehicles in major regions, the demand for gear and engine oil will also increase as it has high applicability in the automotive sector. For instance, as per the International Organization of Motor Vehicle Manufacturing, the global production volume of vehicles increased to 61 million in 2022 from 57 million, the previous year. As per European Automobile Manufacturers Association, the production of passenger cars in the EU increased by 8.3% in 2022.

Lubricant Additive Market Segment Analysis — By Geography

Asia-Pacific held the largest share in the lubricant additives market in 2023, with a share of over 35%. It is due to factors such as rising economies and an increase in investments in various industrial sectors. As per the Indian Brand and Equity Foundation, the automobile industry attracted Foreign Direct Investment equity inflow (FDI) worth US$34.74 billion between April 2000-March 2023, accounting for 5.45% of the total equity FDI during the period. As per the 2022 report of the European Automobile Manufacturers Association on global vehicle production, China produces 34.1% of 68.5 million cars manufactured worldwide followed by Europe 19.4%. And as per China Electronic Information Industry Development, the country is expected to spend US$1.4 trillion on new infrastructure projects between 2020–2025, including investments in renewable energy and residential buildings. Hence as the construction and automobile sector in China and India and the automobile sector in Japan & Korea are rapidly developing, so this has led to an increase in demand for advanced lubrication in these sectors in the Asia Pacific region.

Lubricant Additive Market Drivers

Changes in Automobile Engines Technology

Modern engines in terms of reliability and efficiency depend directly on the effectiveness of the lubricating system. lubrication is responsible for cooling internal parts of the engine which are acting relative to each other creating friction and heat which results in overheating. With the advancement in passenger car engine technology like Gasoline Direct Injection & Turbocharge Gasoline Direct Injection, there have been some advancements in lubricant standards too. For instance, in 2022, the evaluation commenced for the prospective ILSAC GF-7 standard, intended to supersede GF-6. The proposed improvements span crucial engine tests, aiming to adapt to evolving engine technologies, address component availability concerns, and align with potential EPA/CARB regulations. Hence such implementation will increase demand for lower viscosity index improvers lubricants as they are used in all vehicles and efficiently reduce engine friction.

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Nation’s effort for Achieving Fuel economy

For improving vehicle efficiency and transition to low carbon vehicles, various initiative has been launched in nations globally focusing on all automobile sectors like light-duty vehicles, heavy-duty vehicles, buses, motorcycles, trucks, etc. For instance, The Global Fuel Economy Initiative (GFEI) promotes fuel efficiency in cars and light duty vans, through the adoption of the cost-effective fuel efficiency technologies. These fuel efficiency gains would save 33Gt of CO2 by 2050 and $2 trillion by 2025, money which could be used to support the transition to electric vehicles. Hence such initiative will increase the demand for efficient lubricants like bio-based and nanotube-based lubricants that can be used in new vehicles to achieve low engine friction and fuel economy.

Lubricant Additive Market Challenge

Growing demand for E-Vehicles

Due to rising environmental concerns and growing technological advancements consumers have started shifting their demand from fuel combustion vehicles to electric hybrid vehicles. Various automotive plants for e-vehicles are being set up in countries. For instance, as per European Automobile Manufacturing Association, in 2022, the share of electric vehicles in new car registrations increased in almost all countries compared with the previous year. The highest shares were found in Norway (89%), Sweden (58%) and Iceland (56%). And as per the International Energy Agency, EV sales are expected to continue strongly through 2023. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. We currently expect to see 14 million in sales by the end of 2023. Hence such an increase in demand and production of e-vehicles can ban petrol and diesel vehicles which are the main consumers of lubricant, thereby negatively impacting the lubricant additive industry.

Lubricant Additive Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Some of the major players in this market are as follows:

BASF SE

Croda International PLC

Evonik Industries AG

The Lubrizol Corporation

Afton Chemical Corporation

Infineum International Limited

BRB International

Chevron Oronite Company

LANXESS

Tianhe Chemicals Group

Recent Developments

In November 2023, IMCD China’s acquisition of Guangzhou RBD Chemical, a specialist in lubricant additives, signaled a significant stride in the Chinese industrial landscape. This strategic move fortified IMCD’s position, leveraging RBD’s extensive 20-year expertise in South China’s lubricants market. The acquisition, expected to close in Q1 2024, promises a transformative collaboration, enriching IMCD’s foothold in the lubricant additives sector.

In November 2023, Trecora LLC’s acquisition of Chemtrade’s Lubricant Additives Business expanded its specialty chemical division, enhancing its portfolio and meeting dynamic lubricant demands. This strategic move highlighted industry collaboration, emphasizing market adaptability and innovation.

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Lubricants Market Dynamics, Top Manufacturers Analysis, Trend And Demand, Forecast To 2030

Lubricants Industry Overview

The global lubricants market size was estimated at USD 139.44 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030.

This is attributed to the growing demand for automotive oils and greases due to the growing trade of vehicles and spare parts. Lubricants are an essential part of rapidly expanding industries. They are used between two relatively moving machinery parts to reduce friction and wear & tear. They can be either petroleum-based or water-based and are essential for proper machinery functioning. Lubricants also decrease operational downtime and eventually increase overall productivity. Lubricants are extensively used in processing industries and automobile parts, especially brakes and engines, which need lubrication for continuous smooth functioning.

Gather more insights about the market drivers, restrains and growth of the Lubricants Market

The increasing imports and exports of piston engine lubricants are contributing to market growth. The product demand is driven by the rising focus of consumers on enhancing vehicle performance coupled with the introduction of innovative & premium product offerings. Future growth will be highly dependent on motor vehicle production and the miles covered by each vehicle. Furthermore, consumers are looking for standard and specialized lubricants for their regular vehicles to ensure the smooth functioning of their vehicles and reduce long-term maintenance costs.

Lubricant manufacturing requires crude oil, tight oil, and other additives to formulate all lubricant types. There are multiple additives incorporated in lubricants to enhance their functionality and properties. These include antioxidants, extreme pressure additives, rust- & corrosion-prevention additives, detergents, viscosity index improvers, anti-wear agents, and dispersants. Lubricants are 90% base oil and 10% additives, wherein base oils include petrochemical fractions, such as fluorocarbons, esters, polyolefin, and silicones. Base oils increase the viscosity of the lubricants and reduce wear & tear. Paraffinic and naphthenic are the two essential base oils used in lubricant formulations.

Browse through Grand View Research's Petrochemicals Industry Research Reports.

• The global naphtha market size was valued at USD 189.5 billion in 2023 and is projected to grow at a CAGR of 4.3% from 2024 to 2030.

• The global diesel exhaust fluid market size was valued at USD 36.66 billion in 2023 and is projected to grow at a CAGR of 7.9% from 2024 to 2030.

Key Lubricants Company Insights

The global lubricants market is competitive with a large number of well diversified regional, and independent small scale and large scale manufacturers and suppliers. The small-scale companies majorly compete on the basis of price, after sales service and delivery timelines. Whereas the large scale companies focus on product development and innovations as well as marketing strategies.

Some of the key players operating in the market include Exxon Mobil Corp, Shell, and TotalEnergies

ExxonMobil Corp. is a global manufacturer & supplier of synthetic lubricants. The company mainly deals in three business segments that include upstream (oil & gas, E&P, shipping and wholesale operations), downstream (refining, marketing and retail operations) and chemicals. ExxonMobil owns 37 oil refineries in 21 countries with refining capacity of 6.3 million barrels per day.

Shell is a global leader as a group of petrochemical and energy companies, with presence across 70 countries and over 90,000 employees. The group provides fuels, car services, oils, and is also engaged in production, exploration, and refining of petroleum products. The group offers lubricants for industrial and transport businesses along with lubrication process and services.

Total Energies. is oil & gas integrated company. The company has its business segments in upstream, refining & specialty chemicals, and marketing & services. Total Oil India Private Ltd. is an entirely owned subsidiary of TOTAL. It has exploration and production activities in more than 50 countries. The company has a broad catalogue of lubricants for various markets such as agriculture, vehicles, aviation, energy, and chemicals, among others.

Key Lubricants Companies:

The following are the leading companies in the lubricants market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these lubricants companies are analyzed to map the supply network.

ExxonMobil Corp.

Royal Dutch Shell Co.

BP PLC.

Total Energies

Chevron Corp.

Fuchs

Castrol India Ltd.

Amsoil Inc.

JX Nippon Oil & Gas Exploration Corp.

Philips 66 Company

Valvoline LLC

PetroChina Company Ltd.

China Petrochemical Corp.

Idemitsu Kosan Co. Ltd.

Lukoil

Petrobras

Petronas Lubricant International

Quaker Chemical Corp.

PetroFer Chemie

Buhmwoo Chemical Co. Ltd.

Zeller Gmelin Gmbh & Co. KG

Blaser Swisslube Inc

Recent Developments

In January 2024, Shell U.K. Limited acquired MIDEL and MIVOLT from M&I Materials Ltd. The products of the latter two will be produced and distributed as part of Shell’s Lubricants portfolio. The acquisition will help Shell to strengthen its position in Transformer Oils, which finds use in offshore wind parks, utility companies, and power distribution.

From September 2023, TotalEnergies Lubrifiants accelerated the inclusion of recycled plastics (50% PCR high-density polyethylene) in its lubricants bottles, following a pilot project launched in 2021 called Quartz Xtra bottles. This aims at contributing to a circular economy and in decline of usage of virgin plastic.

In March 2023, ExxonMobil announced investing around INR 900 crore (~USD 110 million) for constructing a lubricants production plant in Raigad, Maharashtra, India. Upon completion, plant’s annual production capacity is expected to be 159,000 kl of finished lubricants. This plant will cater to growing demand from industries such as mining, construction, power, steel, and manufacturing, among others.

Order a free sample PDF of the Lubricants Market Intelligence Study, published by Grand View Research.