Engine Oil Additives Market
Engine Oil Additives Market by Type (Anti-Oxidants, Dispersants, Detergents, Corrosion Inhibitors, Friction Modifiers, Antiwear Additives, Others) by Engine Type (Diesel, Gasoline, Natural Gas, Others) by Vehicle Type (Passenger Car, Commercial vehicle, Motorcycle, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
The global Engine Oil Additives market was valued at USD 10.52 Billion in 2020 and is projected to reach USD 16.62 Billion by 2028, growing at a CAGR of 4.38%% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||16.62 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||4.38%%|
Definition And Overview
Engine oil additive is mixed with engine oil to improve the performance of engine and protect engine from any type of failure. Engine oil additive provide new properties or enhances the present properties of the base oil. Some additives improve the viscosity of the engine oil for optimum performance under varying operating temperatures, thereby reducing wear and tear. Additives that reduce friction improve the performance of the engine. Antioxidants helps to slow down the process of oxidation and thus the formation of deposits this keeps the engine clean and enhances the life of the engine oil whereas the detergents will prevent the formation of rust to the parts of the vehicle.
This report provides an analysis of the Engine Oil Additives market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Engine Oil Additives industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. Moreover, it covers an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies.
The report includes a separate section covering detailed Engine Oil Additives industry analysis based on various macro/micro factors impacting the growth of the market. This section explains various driving factors, restraints/challenges, and opportunities in detail. In addition to that, the same section provides industry analysis based on several strategic marketing tools such as Cost Structure Analysis, Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others.
The rising demand for fuel efficient vehicles is anticipated to augment the growth of the engine oil additive market over the forecast period. Engine oil additives help enhances the engine performance by maintaining the desired properties of the engine oil. Furthermore, it also prevent gaps in oil circulation, reduce friction of engine components , reduce foaming around the crankshaft , prevent build-up of sludge, extend the life of engine components, and extend the life of the engine oil. Owing to these benefits the engine oil additive market is expected to grow in the years to come.
The implementation of stringent emission norms by the government regulatory especially for vehicles is anticipated to boost the growth of the engine oil additives market during the forecast period. The usage of engine oil additives leads to complete combustion of the fuel and helps lower the emission of harmful gases.
The emergence of battery operated vehicles is expected to hinder the growth of the engine oil additives market in upcoming years. The electric vehicles are gaining popularity due to its zero carbon emission characteristics.
COVID-19 Impact Analysis
When the Covid19 pandemic started in China last year it sends its shock waves to countries across the globe. And as the number of cases was on the rise, it enforced the governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the impending catastrophe. These actions had a dramatic impact on the economy, as the industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. Thus, plummeting the global markets. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Type, Engine Type, Vehicle Type|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Lubrizol, Chevron Oronite, Jinzhou Kangtai, Infineum, Jinzhou Xinxing, Afton, Wuxi South, Chemtura, Tianhe.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Type, Engine Type, Vehicle Type, and region. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecast, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.
On the basis of Type, the market is divided into Anti-Oxidants, Dispersants, Detergents, Corrosion Inhibitors, Friction Modifiers, Antiwear Additives, Others. Anti-oxidants held the largest share in 2020 and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Engine Type, the market is divided into Diesel, Gasoline, Natural Gas, Others. Gasoline attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Engine Oil Additives Market: Type Segment Analysis
- Corrosion Inhibitors
- Friction Modifiers
- Antiwear Additives
Global Engine Oil Additives Market: Engine Type Segment Analysis
- Natural Gas
Global Engine Oil Additives Market: Vehicle Type Segment Analysis
- Passenger Car
- Commercial vehicle
Regional Analysis: Preview
Based on the geography, the global Engine Oil Additives market is segmented into North America, Latin America, Asia
Pacific, Europe, and the Middle East & Africa. The report further segments
the regional study into key country-level markets from each region. This section
of the report provides a comprehensive review of the Engine Oil Additives market at the regional and country level. The report covers all the major developments
specific to Engine Oil Additives industry across
geographies and explains its impact on the market. The regional analysis
section also provides analysis of the impact of various factors such as
economies, industry competition, technological advancements, import-export
ratio, and raw material availability among others. The concentration of raw
material suppliers as well as market players in one specific region impacts the
global market scenario and the report covers exclusive information on the
same. Also, the report analyzes the
intensity of competition in each region and its influence on the growth of the
global Engine Oil Additives market.
Market Size, 2021 (USD Billion)
Global Engine Oil Additives Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Engine Oil Additives market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Engine Oil Additives market are Lubrizol, Chevron Oronite, Jinzhou Kangtai, Infineum, Jinzhou Xinxing, Afton, Wuxi South, Chemtura, Tianhe.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
Frequently Asked Questions
the global demand for Engine Oil Additives
in terms of revenue?
The global Engine Oil Additives valued at 10.52 Billion in 2020 and is expected to reach 16.62 Billion in 2028 growing at a CAGR of 4.38%%
are the prominent players
in the market?
The prominent players in the market are Lubrizol, Chevron Oronite, Jinzhou Kangtai, Infineum, Jinzhou Xinxing, Afton, Wuxi South, Chemtura, Tianhe..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 4.38%% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Engine Oil Additives include
- The rising demand for fuel efficient vehicles is anticipated to augment the growth of the engine oil additive market over the forecast period. Engine oil additives help enhances the engine performance by maintaining the desired properties of the engine oil. Furthermore, it also prevent gaps in oil circulation, reduce friction of engine components , reduce foaming around the crankshaft , prevent build-up of sludge, extend the life of engine components, and extend the life of the engine oil. Owing to these benefits the engine oil additive market is expected to grow in the years to come.
- The implementation of stringent emission norms by the government regulatory especially for vehicles is anticipated to boost the growth of the engine oil additives market during the forecast period. The usage of engine oil additives leads to complete combustion of the fuel and helps lower the emission of harmful gases.
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Engine Oil Additives in 2020.