Global Lubricant Antioxidants Market Size By Type (Primary Antioxidant, Secondary Antioxidant), By Application (Automotive, Industrial), By Geographic Scope And Forecast

Lubricant Antioxidants Market Size And Forecast

Lubricant Antioxidants Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e.2023 to 2030.

Moreover, the constantly increasing marine and aviation transport and improved emission controls in combination with fuel economy standards are also adding fuel to the market growth. The Global Lubricant Antioxidants Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Lubricant Antioxidants Market Definition

Lubricant Antioxidants can be defined as a high-performance additive used to increase the lifespan of lubricants by increasing their oxidative resistance. They provide excellent protection against corrosion, reduce viscosity, remove contaminants, and protect oil at high temperatures.

There are two types of antioxidants available in the marketprimary and secondary antioxidants. Primary antioxidants are typically encompassed of aromatic amines and hindered phenolics, whereas, secondary antioxidants incorporate phosphites and certain sulfur-containing compounds, such as thioethers and thioesters. Each type of antioxidant performs a different function to inhibit oxidation.

Antioxidants are designed to prolong the life of a lubricant by increasing the oxidative resistance of the base oil, which allows lubricants to operate at higher temperatures. Many synthetic lubricants available in the market, especially hydrocarbon-based lubricating oils, are susceptible to degradation by oxygen.

The consumption of Lubricant Antioxidants is significant in heavy-duty and passenger car lubricants in the automotive segment, followed by metalworking fluids and mechanical engine oils in the industrial section. Significant additive examples include dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, and emulsifiers. Lubricant Antioxidants also play an essential role in energy and emissions management in several automobile and end-use industries.

Global Lubricant Antioxidants Market Overview

The global Lubricant Antioxidants Market is driven by the growing demand from the automotive industry. The growing sales of passenger and commercial vehicles drive the Lubricant Antioxidants Market in the automotive industry. Lubricating oil additives find utilization in engine oils, gear oils, transmission fluids, and hydraulic fluids in the automotive industry. The number of automotive vehicles has been progressing globally over the past few years, owing to the immense living standards, increasing per capita income, and changing choices of consumers. Moreover, the constantly increasing marine and aviation transport and improved emission controls in combination with fuel economy standards are also driving market growth.

Since additives play an essential role in base oil blending and subsequent formulations, they are necessary for developing the specification and production of oils. The trend, as stated above, has had an immense impact on the industry’s development over the past and is anticipated to continue driving the global Lubricant Antioxidants Market. However, fluctuating raw material prices are expected as a significant factor hampering the market’s growth. An additive pack is a blend of various functional types such as dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others.

Distinct additive formulations depend on different chemical substances, and the price changes according to diverse suppliers. The formulation of a lubricating oil additive package needs substantial investment in R&D. The lubricant manufacturers rely principally on the OEM engine blueprint and technical lubricant requirements to manufacture various lubricating oil additive packages. Therefore, the high R&D process is a significant hurdle for the Lubricant Antioxidants Market. Nevertheless, an increasing export opportunity for different functional types of lubricating oil additives in APAC is expected to offer lucrative opportunities for the market.

Hybrid vehicles mix a smaller internal combustion engine (ICE) with an electrical motor to maximize power efficiency whereas lowering pollution. Lubricants, primarily engine oil and transmission fluid, are needed by ICE inside a car. Consistent with business consultants, the increased range of hybrid vehicles can scale back lubricant use per vehicle by nearly half. This reason and rising battery parity can diminish the global Lubricants Market’s volume.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Lubricant Antioxidants Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global Lubricant Antioxidants Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Lubricant Antioxidants Market Segmentation Analysis

The Global Lubricant Antioxidants Market Segmented On the Type, Application, And Geography

Lubricant Antioxidants Market, By Type

• Primary Antioxidant
• Secondary Antioxidant

Based on Type, the market is segmented into Primary Antioxidant and Secondary Antioxidant. The number of automotive vehicles has been progressing globally over the past few years, owing to the immense living standards, increasing per capita income, and changing choices of consumers, ultimately contributing towards the growth of the market over the forecast period.

Lubricant Antioxidants Market, By Application

• Automotive
• Industrial
• Others

Based on Application, the market is segmented Automotive, Industrial, and Others. The Automotive segment dominated the major market share in past years and is estimated to witness a substantial growth rate during the forecast period. Passenger car motor oil was the dominant segment and is expected to maintain its dominance during the forecast period. EURO norms, regulating the amount of nitrogen oxide, carbon monoxide, soot, and hydrocarbons linked with a turn in consumer choices towards using operationally efficient and low thickness fuel is driving the need for passenger car motor oil.

Lubricant Antioxidants Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, the Global Lubricant Antioxidants Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The growth of the region is attributed to the development of fuel efficiency norms linked with increasing environmental concerns about carbon emissions in China, India, and Japan. Economic growth in the region coupled with increasing industrialization has allowed greater production and possession of vehicles. Various environmental and legal factors are encouraging industrial growth in Central & South America and the Middle East & Africa as well. These regions are also homeward to major countries such as Brazil and South Africa which are developing at a rapid rate due to progressing passenger car and heavy-duty vehicle production domestically.

Key Players

The “Global Lubricant Antioxidants Market” study report will provide a valuable insight with an emphasis on global market including some of the major players Chevron, Afton Chemical, Lubrizol, Infineum, BASF, BRB International, ENI, Evonik, LANXESS, and Jinzhou Kangtai Lubricant Antioxidants. and others. Our market analysis also entails a section solely among others.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2021, BASF has signed two separate partnership agreements in order to strengthen its global leadership position in the bio-based surfactants and actives market. The strategic partnership with ACS includes an equity stake, making BASF the sole shareholder.
• In August 2020. Avid Product Development, LLC, a trusted partner for engineering and additive manufacturing services, has merged with Lubrizol Corporation. Avid provides a one-of-a-kind combination of 3D printing capabilities, including design for additive manufacturing (DfAM), prototyping and production using powder bed fusion (MJF, SLS), fused filament fabrication (FFF), and stereolithography (SLA).

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in