The Global Lubricant Additive Market Size Will Be About $ 18.5 Billion by 2023

wallpapers Low Carbon 2020-02-18

Oil additive is one or more compounds. After adding lubricant, it can improve some existing characteristics or obtain some new features of the oil, which can improve the efficiency and performance of the grease in mechanical systems, Extend lubricant life and improve stability. Lubricant additive products are mainly used in automotive engine lubricants (including natural gas engines), railway locomotive engine oils, marine engine oils, industrial lubricants, greases, emulsified explosives, and other markets.

The global demand for lubricant additives has increased from 4 million tons in 2012 to 4.65 million tons in 2019, and the market size has grown from 13.3 billion US dollars to 15.1 billion US dollars. Taking into account the rapid growth of emerging economies such as India and Brazil, and the impact of the Fed's stoppage on the global economy, the actual annual demand for lubricant additives has entered a new growth cycle. It is expected that by 2023, the global demand for lubricant additives will be increased to 5.43 million tons, and the market size was about $ 18.5 billion.

In the Indian lubricant additives market, from the perspective of the growth rate of demand for various types of lubricant additives, the top three annual average growth rates from 2016 to 2018 are 5.2% for antioxidants, 3.1% for dispersants, and viscosity index. These three additives are increasing because they are mainly used in passenger car engine lubricants and heavy-duty engine lubricants, which have a relatively high demand and increase.

With the continuous improvement of the quality level of lubricants, various surface-active additives such as antioxidants and antiseptics, metal salt detergents, dispersants, extreme pressure anti-wear additives, and rust inhibitors have been added to the oils. The test balance will not cause mutual interference and synergy between various additives. If inappropriate additives are added again, it may affect their average performance due to interference between different additives. Therefore, the selected additives must be compatible with the original additives in the lubricating oil to play its energy-saving and anti-friction function.