Stringent Safety and Environmental Regulations Driving Adoption of Lubricant Antioxidants for Machinery Protection
Rockville , Oct. 30, 2023 (GLOBE NEWSWIRE) — The global lubricant antioxidant market stands at US$ 1.92 billion in 2023, as per the latest study published by Fact.MR, a market research and competitive intelligence provider. Worldwide demand for lubricant antioxidants is projected to increase at a CAGR of 3.7% from 2023 to 2033 and is estimated to reach a market value of US$ 2.76 billion by 2033-end. Significant increase in marine and aviation transport along with improved emission control regulations and fuel economy standards are set to boost worldwide demand for lubricant antioxidants.
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Rising sales of commercial and passenger vehicles are anticipated to propel demand for lubricant antioxidants in the automotive sector. Lubricating oil additives are used at a noteworthy rate in gear oils, engine oils, hydraulic fluids, and transmission oil additives in the automotive sector. There is a constant progression in the sales of automotive vehicles due to the changing choices of consumers, increasing per capita income, and improving living standards.
In recent years, marine and aviation transport has been increasing constantly. With improved emission control standards in combination with fuel economy features, demand for lubricant antioxidants is projected to increase.
| Report Attribute | Details |
| Value Projection (2033) | US$ 2.76 Billion |
| Growth Rate (2023-2033) | 3.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 74 Tables |
| No. of Figures | 103 Figures |
Key Takeaways from Market Study
- The global lubricant antioxidant market reached US$ 1.85 billion in 2022.
- Worldwide sales of lubricant antioxidants stand at US$ 1.92 billion in 2023.
- The global market is forecasted to reach US$ 2.76 billion by the end of 2033.
- Global sales of lubricant antioxidants are projected to advance at a CAGR of 3.7% through 2033.
- Compared to other sectors, the automotive segment is predicted to contribute significantly to global market revenue by 2033.
“Growing demand for lubricant antioxidants in the automotive sector is attributed to its higher additive treatment rates, greater lubrication control, and improved performance,” says a Fact.MR analyst.
Need for Low-thickness and Operationally Efficient Fuel Increasing Worldwide
The automotive segment is forecasted to hold a significant share of the lubricant antioxidant market in 2033. Sales of passenger car motor oil are projected to increase substantially in the coming decade. Euro norms are projected to govern the levels of carbon monoxide, nitrogen oxide, hydrocarbons, and soot associated with consumer decisions regarding the utilization of low-density and operationally efficient fuel.
Key Market Players
Leading manufacturers of lubricant antioxidants are
- BASF SE,
- Afton Chemical,
- Lubrizol,
- Infineum,
- Chevron Oronite Company,
- Songwon Industrial Group,
- Evonik,
- ENI,
- Jinzhou Kangtai Lubricant Additives,
- LANXESS,
- Wuxi South Petroleum Additive,
- ADEKA Corporation,
- SI Group,
- OXIRIS Chemicals S.A.
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Country-wise Insights
Why Do Lubricant Antioxidant Suppliers Choose to Work in the United States?
“More Focus on the Use of Bio-based Lubricants”
In the United States, a moderate rate of growth is anticipated for the lubricant antioxidant industry. Stricter rules regarding the handling and disposal of lubricants are increasing consumer preference for bio-based lubricants, which in turn is driving up demand for non-traditional lubricant antioxidants.
Recent Developments:
- Lanxess Aktiengesellschaft, in April 2019, announced the launch of a new organic lubricant additive, named Additin RC 3502. This is launched for application in several high-performance automotive engine oils. This newly developed additive is predicted to deliver sustained performance and anti-wear protection with reduced friction in different types of passenger cars.
- BASF SE, in January 2019, expanded its capacity for the production of lubricant antioxidants in Puebla (Mexico).
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the lubricant antioxidant market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (primary antioxidants, secondary antioxidants, multifunctional antioxidants), form (solid, liquid), and application (automotive & transportation, industrial, specialty & fuels), across major regions of the world (North America, Europe, East Asia, South Asia & Pacific, Latin America, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Lubricant Ester Market: The global lubricant ester market is estimated at US$ 1.3 billion in 2023 and is forecasted to expand at a CAGR of 4.3% to reach US$ 1.9 billion by the end of 2033.
Automotive Lubricants Market: Automotive lubricants sales are poised to flourish at a CAGR of 3.1% to reach a value of US$ 108 Billion by the end of 2032.
Graphite Lubricant Market: The global graphite lubricant market is estimated at USD 1,617.6 Million in 2022 and is forecast to surpass USD 2,452.6 Million by 2032, growing at a CAGR of 4.2% from 2022 to 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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