Americas Lubricant Additives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Dispersants, Viscosity Index Improvers, Detergents, Antiwear Agent, Emulsifiers, and Others), Application (Automotive and Industrial)
The Americas lubricant additives market size was valued at US$ 4,674.9 million in 2021 and is projected to reach US$ 5,922.8 million by 2028. It is expected to grow at a CAGR of 3.4% from 2021 to 2028.
Synthetic lubricants are most widely used in industrial operations and the automotive sector due to their superior characteristics to natural mineral oil. Thus, the flourishment of the industrial and automotive sectors boosts the demand for synthetic lubricants. It is also used across wide array of industries that operate at a high level of operational consistency. Polyalphaolefin lubricant is the most commonly used synthetic oil in the automotive and industrial sectors. It has excellent physical and chemical properties, including a higher viscosity index, lower volatility and pour point, and greater thermal stability. Hence, the extensive application of lubricants in various industries is the key factor driving the lubricants additives market as additives are blended with lubricants to enhance their performance and service life.
Impact of COVID-19 Pandemic on Americas Lubricant Additives Market
The ongoing COVID-19 pandemic is anticipated to cause considerable disruptions in the growth of various industries in the Americas. The pandemic severely impacted the Americas lubricant additives market in 2020 as the supply chain of raw materials used in the production of lubricant additives was hampered due to the restriction of goods transport. Ease in lockdown measures in several countries and resumptions of operational activities in many industries helped in the revival of the demand for lubricant additives from 2021. In addition, the rapid pace of COVID-19 vaccination programs is expected to propel the growth of the Americas lubricant additives market in the coming years.
Americas Lubricant Additives Market Share Breakdown –By Region
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Market Insights
Increasing Demand for Lubricants from Wind Energy Sector Fuels Americas Lubricant Additives Market Growth
With the increasing number of wind energy projects, the demand for lubricant additives is expected to prosper in the Americas in the coming years. Renewable energy is a subsegment of the power generation industry, which is one of the leading consumers of industrial lubricants, especially turbine oil and transformer oil. Wind energy is one of the fastest-growing renewable energy types in the Americas. According to the US Department of Energy, the US installed 16,836 MW capacity of new wind electric turbines in 2020. Furthermore, it is aiming to achieve 20% of its electricity consumption through wind energy by 2030. Thus, as per a study by the University of Michigan, the America is estimated to install wind power infrastructure twice the current pace over the next decade to reduce further carbon emissions and mitigate the ill effects of climate change. Thus, such a growth trajectory of wind power is anticipated to hold potential opportunities for lubricants additives producers, which is expected to boost the market for lubricant additives in the Americas during the forecast period.
Type Insight
Based on type, the Americas lubricant additives market is segmented into dispersants, viscosity index improvers, detergents, antiwear agent, emulsifiers, and others. The dispersants segment led the lubricant additives market. Dispersants are lubricant additives that aid in forming sludge, varnish, and other deposits. Dispersants are employed to keep insoluble materials generated by oxidation and other causes within the oil during usage, preventing sludge flocculation and precipitation of these insoluble materials.
Application Insights
Based on application, the Americas lubricant additives market is segmented into automotive and industrial. The automotive segment led the market with a larger revenue share in 2020. The composition of lubricant additives supports longer service intervals, higher fuel efficiency, and greater machine longevity. In addition to this, growing electric vehicles (EV) is expected to proliferate the demand for lubricant additives and subsequently positively impact the automotive segment in the forecasted year.
Americas Lubricant Additives Market, by Application – 2020 and 2028
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Strategic Insights
Evonik Industries Ag; The Lubrizol Corporation; LANXESS; Rose Mill Co., Aerospace Lubricants, Inc.; Tamco Lubrificantes; Mol-Lub Kft.; Dover Chemical Corporation; Nouryon; and Exxon Mobil Corporation are the key lubricant additive manufacturers worldwide. These players are actively focusing increasing their production capabilities owing to the rising demand for lubricant additives globally.
Report Spotlights
- Progressive industry trends in the Americas lubricant additives market to help players develop effective long-term strategies
- Business growth strategies adopted by the market players in developed and developing markets
- Quantitative analysis of the Americas lubricant additives market from 2019 to 2028
- Estimation of the demand for lubricant additives across the Americas
- Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the Americas lubricant additives market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the Americas lubricant additives market at various nodes
- Detailed overview and segmentation, and industry dynamics of the market
- Size of the Americas Lubricant Additives Market in various regions with promising growth opportunities
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.3 Data Collection
3.4 Primary Interviews
3.5 Hypothesis Formulation
3.6 Macro-economic Factor Analysis
3.7 Developing Base Number
3.8 Data Triangulation
3.9 Country Level Data
4. Americas Lubricant Additives Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Lubricant Additives Market — Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Automobile Sector:
5.1.2 Rapid Industrial Growth:
5.2 Key Market Restraints
5.2.1 Stringent Government Policies on Application of Lubricant Additives:
5.3 Key Market Opportunities
5.3.1 Increasing Demand for Lubricants from Wind Energy Sector:
5.4 Future Trends
5.4.1 Growing Demand for Synthetic Lubricants
5.5 Impact Analysis of Drivers and Restraint
6. Lubricant Additives – Americas Market Analysis
6.1 Lubricant Additives Market Overview
6.2 Lubricant Additives Market –Revenue and Forecast to 2028
6.3 Competitive Positioning – Key Market Players
7. Lubricant Additives Market Analysis – By Type
7.1 Overview
7.2 Lubricant Additives Market, By Type (2020 and 2028)
7.3 Dispersants
7.3.1 Overview
7.3.2 Dispersants: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
7.4 Viscosity Index Improvers
7.4.1 Overview
7.4.2 Viscosity Index Improvers: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
7.5 Detergents
7.5.1 Overview
7.5.2 Detergents: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
7.6 Antiwear Agent
7.6.1 Overview
7.6.2 Antiwear Agent: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
7.7 Emulsifiers
7.7.1 Overview
7.7.2 Emulsifiers: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
7.8 Others
7.8.1 Overview
7.8.2 Others: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
8. Lubricant Additives Market Analysis – By Application
8.1 Overview
8.2 Lubricant Additives Market, By Application (2020 and 2028)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive : Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Industrial
8.4.1 Overview
8.4.2 Industrial : Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Mn)
9. Lubricant Additives Market – Geographic Analysis
9.1 Overview
9.2 North America: Lubricant Additives Market
9.2.1 North America: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.2.2 North America: Lubricant Additives Market, by Type
9.2.3 North America: Lubricant Additives Market, by Application
9.2.4 North America: Lubricant Additives Market, by Key Country
9.2.4.1 US: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Lubricant Additives Market, by Type
9.2.4.1.2 US: Lubricant Additives Market, by Application
9.2.4.2 Canada: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Lubricant Additives Market, by Type
9.2.4.2.2 Canada: Lubricant Additives Market, by Application
9.2.4.3 Mexico: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico : Lubricant Additives Market, by Type
9.2.4.3.2 Mexico: Lubricant Additives Market, by Application
9.3 South and Central America: Lubricant Additives Market
9.3.1 South and Central America: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.3.2 South and Central America: Lubricant Additives Market, by Type
9.3.3 South and Central America: Lubricant Additives Market, by Application
9.3.4 South and Central America: Lubricant Additives Market, by Key Country
9.3.4.1 Brazil: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.3.4.1.1 Brazil: Lubricant Additives Market, by Type
9.3.4.1.2 Brazil: Lubricant Additives Market, by Application
9.3.4.2 Argentina: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.3.4.2.1 Argentina: Lubricant Additives Market, by Type
9.3.4.2.2 Argentina: Lubricant Additives Market, by Application
9.3.4.3 Rest of South and Central America: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
9.3.4.3.1 Rest of South and Central America: Lubricant Additives Market, by Type
9.3.4.3.2 Rest of South and Central America: Lubricant Additives Market, by Application
10. Impact of COVID-19
10.1 Overview – Impact of COVID-19
10.2 Impact of COVID-19 on Lubricant Additives Market
10.3 North America: Impact Assessment of COVID-19 Pandemic
10.4 South America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Evonik Industries AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 The Lubrizol Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 LANXESS
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Rose Mill Co.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Aerospace Lubricants, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Tamco Lubrificantes
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Mol-lub Kft.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Dover Chemical Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Nouryon
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 EXXON MOBIL CORPORATION
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Americas Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. Americas Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 5. North America Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 6. US Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 7. US Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 8. Canada Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 10. Mexico Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 11. Mexico Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 12. South and Central America Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. South and Central America Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Brazil Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. Brazil Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 16. Argentina Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. Argentina Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of South and Central America Lubricant Additives Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of South and Central America Lubricant Additives Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 20. Glossary of Terms, Americas Lubricant Additives Market
LIST OF FIGURES
Figure 1. Americas Lubricant Additives Market Segmentation
Figure 2. Lubricant Additives Market Segmentation – By Geography
Figure 3. Americas Lubricant Additives Market Overview
Figure 4. Lubricant Additives Market, By Application
Figure 5. Lubricant Additives Market, By Geography
Figure 6. Americas Lubricant Additives Market, Industry Landscape
Figure 7. Porter's Five Forces Analysis
Figure 8. Lubricant Additives Market - Ecosystem
Figure 9. Expert Opinion
Figure 10. Lubricant Additives Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Lubricant Additives Market
Figure 12. Americas: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Lubricant Additives Market Revenue Share, By Type (2020 and 2028)
Figure 14. Dispersants: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. Viscosity Index Improvers: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Detergents: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. Antiwear Agent: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. Emulsifiers: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. Others: Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Lubricant Additives Market Revenue Share, By Application (2020 and 2028)
Figure 21. Automotive : Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Industrial : Lubricant Additives Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. Americas Lubricant Additives Market Revenue Share, by Region (2020 and 2028)
Figure 24. North America: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America: Lubricant Additives Market Revenue Share, by Type (2020 and 2028)
Figure 26. North America: Lubricant Additives Market Revenue Share, by Application (2020 and 2028)
Figure 27. North America: Lubricant Additives Market Revenue Share, by Key Country (2020 and 2028)
Figure 28. US: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Canada: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. South and Central America: Lubricant Additives Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. South and Central America: Lubricant Additives Market Revenue Share, by Type (2020 and 2028)
Figure 33. South and Central America: Lubricant Additives Market Revenue Share, by Application (2020 and 2028)
Figure 34. South and Central America: Lubricant Additives Market Revenue Share, by Key Country (2020 and 2028)
Figure 35. Brazil: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Figure 36. Argentina: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Figure 37. Rest of South and Central America: Lubricant Additives Market –Revenue and Forecast to 2028 (US$ Million)
Figure 38. Impact of COVID-19 Pandemic on Lubricant Additives Market in North America
Figure 39. Impact of COVID-19 Pandemic on Lubricant Additives in South America
- Evonik Industries AG
- The Lubrizol Corporation
- LANXESS
- Rose Mill Co.
- Aerospace Lubricants, Inc.
- Tamco Lubrificantes
- Mol-lub Kft.
- Dover Chemical Corporation
- Nouryon
- EXXON MOBIL CORPORATION
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Americas lubricant additives market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.