Lubricant Additives Market Summary

The global lubricant additives market size was estimated at USD 17.70 billion in 2023 and is projected to reach USD 23.53 billion by 2030, growing at a CAGR of 4.2% from 2024 to 2030. This overall growth is primarily attributable to the increasing adoption of advanced industrial machinery, including automation and robotic equipment, as well as high-end production systems such as 3D printers and clean energy machinery. As manufacturing operations become more advanced and efficient, the need for high-performance lubricants and additives continues to expand to support operational reliability and component protection.

The strong rise in industrial machinery sales is anticipated to significantly boost the demand for essential lubricating oils such as turbine oils, metalworking fluids, general industrial oils, and greases. Lubricant additives are vital for improving the viscosity and stability of oils. These additives also perform key functions such as acting as antioxidants and corrosion inhibitors within combustion engines and industrial machines. They help reduce oil degradation under high temperatures and pressure. Additionally, increasing utilization of additives in base oil blending enhances service life and overall lubricant performance, making them essential in the automotive sector to improve durability, efficiency, and operational safety.

Key Market Trends & Insights

  • The Asia Pacific lubricant additives market held a substantial share of 36.03% by volume in 2023.
  • The China lubricant additives market is expected to grow over the forecast period due to rapid industrialization, large-scale automotive production, and rising investment in advanced manufacturing technologies.
  • By application, the automotive lubricants segment dominated the market with a revenue share of 62.86% in 2023, driven by the growing vehicle population, expansion of commercial transport fleets, and increasing focus on engine efficiency and emission control.
  • By product, the viscosity index improvers segment held a lion’s share of 22.9%, by revenue, in 2023, supported by their wide usage in maintaining lubricant performance over varying temperature conditions and enhancing oil film strength under heavy mechanical loads.

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Market Size & Forecast

  • 2023 Market Size: USD 17.70 Billion
  • 2030 Projected Market Size: USD 23.53 Billion
  • CAGR (2024-2030): 4.2%
  • Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights

The global market is moderately consolidated in nature dominated by major players such as Chevron Oronite Company LLC, Afton Chemical Corp., Eni S.p.A., BASF SE, and Evonik Industries AG. The players face intense competition from each other as well as from regional players, who have strong distribution networks and good knowledge of suppliers and regulations.

  • The BASF SE company was formed in 1865 and is headquartered in Mannheim, Germany. It operates under six business divisions, including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, Agricultural Solutions. The company has 49 global and regional business units and helps in developing strategies for 70 strategic business units.
  • Chevron Oronite was established in 1917 and is headquartered in California, U.S. It is primarily involved in the manufacturing and marketing of lubricant, fuel additives, and chemicals designed to help enhance the performance of all types of transportation and industrial equipment. The company mainly caters to automotive & transportation, marine, railroad and inland marine, industrial, and driveline fluids applications.

Infinium International Ltd., Lehmann & Voss & Co. KG., Lubrizol Corp., and The Elco Corp. are some of the emerging market participants in the global lubricant additives market.

  • Infineum International Limited was established in 1999 and is headquartered in Abingdon, England. It is a specialty chemicals company which is equipped with strong R&D capabilities and is formed as a joint venture between Shell and ExxonMobil. With the expertise of both the companies in formulation, production, and marketing of petroleum additives for lubricants, it has become an emerging player in the global lubricant additives industry.
  • Lubrizol was founded in 1928 and is headquartered in Ohio, U.S. The company mainly operates in two business segments, namely, Lubrizol Additives and Lubrizol Advanced Materials. The Lubrizol Additives segment enables efficient, reliable, and durable equipment performance. Its industrial fluids ensure high efficiency for power generation, compressors, hydraulic equipment, oil field services, etc.

Key Players

  • Afton Chemical Corp.
  • BASF SE
  • BRB International B.V.
  • Chevron Oronite Company LLC
  • Daelim Co. Ltd.
  • Deutsche Oelfabrik Gesellschaft Fur Chemische Erzeugnisse M.B.H. & Co. Kg
  • Dorf-Ketal Chemicals India Pvt. Ltd.
  • Dover Chemical Corp.
  • The Elco Corp. (Italmatch Chemicals S.p.A.)
  • Eni S.p.A.
  • Evonik Industries AG
  • Infinium International Ltd.
  • Jinzhou Kangtai Lubricant Additives Co. Ltd.
  • King Industries, Inc.
  • LANXESS AG
  • Lehmann & Voss & Co. KG.
  • Lubrizol Corp.
  • Metall-Chemie GmbH & Co. KG
  • Xinxiang Richful Lube Additive Co. Ltd.
  • RT Vanderbilt Holding Company, Inc.

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Conclusion

In conclusion, the lubricant additives market is expected to maintain consistent growth as industries worldwide continue to adopt advanced machinery and expand production capabilities. These additives are becoming increasingly crucial for improving lubricant properties, reducing wear and tear, extending oil life, and ensuring optimal equipment efficiency. The automotive sector remains the leading consumer, supported by rising mobility trends and continuous vehicle upgrades. Asia Pacific, particularly China, will remain a major hub for demand due to rapid industrial development and expanding automotive manufacturing. Future market progress will be driven by innovation in additive chemistry, sustainability initiatives, and enhanced performance requirements across industrial applications.