The global lubricant additive market is growing steadily, and leading companies have emerged

Lubricating oil additives are one or more compounds and are the core components of lubricating oil. Lubricating oil additives can improve the existing properties of lubricating oil or obtain new properties, and can also extend its service life and improve product stability. After years of development, there are many types of lubricating oil additives, which can be roughly divided into single agents and compound additives. Among them, single agents can be subdivided into dispersants, antioxidants, detergents, pour point depressants, viscosity index improvers, etc., and compound agents can be subdivided into hydraulic oil compound agents, internal combustion engine oil compound agents, gear oil compound agents, etc.

At present, the world has formed a complete lubricant additive industry chain. The upstream of the industrial chain is mainly the raw material industry, which provides petrochemical materials such as heavy alkanes, benzene olefins, alcohols, polyisobutylene, etc. Since the quality of raw materials directly determines the performance of single agents and composite agents, the cost of raw materials plays a major role in the overall cost of lubricating oil additives. It occupies a larger proportion; the midstream is the lubricating oil additive production industry, which is mainly responsible for the production of various categories of lubricating oil additives; the downstream is mainly oriented to application fields, and lubricating oil additives are mostly used to produce lubricating oil. Lubricating oil has a wide range of application fields and is mostly used in production. Metalworking fluids, motor vehicle lubricants and engine lubricants, etc.

According to the “In-depth Market Research and Investment Strategy Suggestions Report on Lubricating Oil Additive Industry 2023-2027” released by the Industrial Research Center, With the rapid development of the global economy and society, the level of industrial manufacturing continues to improve, and the automobile market develops rapidly. As global automobile production and sales continue to grow, the demand for motor vehicle lubricants continues to increase, and the market demand for lubricant additives is gradually growing. Driven by market demand, the global lubricant additives market has steadily increased in size. In 2022, the global lubricant additives market size will be US$17.84 billion.

At this stage, the global lubricant additive market structure is relatively stable, and leading companies have emerged. The world’s largest lubricant additive companies include Infineum, Afton, Chevron Oronite, Lubrizol, Vanderbilt, Romanx, BASF, etc. Among them, Infineum, Afton, Chevron Oronite, and Lubrizol have strong technical capabilities. They mainly sell lubricant compounds and occupy the majority of the market share. In addition, although companies such as Vanderbilt, Romax, and BASF are small in scale, they have strong R&D capabilities in single-agent lubricants and occupy a certain market share.

Industry analysts said that from the perspective of my country’s lubricant additive market, some large-scale lubricant additive companies have emerged in my country. They are Shanghai Hairun, Xinxiang Ruifeng, Jinzhou Petrochemical, Liaoning Tianhe, Power Oil, etc. my country’s lubricant additive companies started late, have weak technical strength, low product quality, and serious product homogeneity. With the gradual rise of my country’s lubricant additive companies, research and development capabilities have gradually improved, technological levels have continued to improve, product quality has continued to improve, and market competitiveness has gradually improved.