Engine Oil Additives Market- By Type; By Engine Type; By End User; By Geography - (2024 - 2030)

Engine Oil Additives Market Size is forecast to reach $ 18252 Million by 2030, at a CAGR of 5.20% during forecast period 2024-2030.Engine oil market is segmented based on the type available in which dispersants is valued high among all the types which is valued $2,426.7 million in the year 2017 and is expected to grow at a CAGR of 3.4% from the year 2018-2023, and followed by VI Improvers which is valued $2,322.4 million in the year 2017 and is expected to grow at a CAGR of 2.7% from the year 2024-2030. Due to high sales of two-wheelers, the Global Engine Oil Additive Market is expected to witness a growth in market share during the forecast period of 2024-2030 with a high CAGR of 3.9%.  

Engine oil additive is mixed with engine oil to improve the performance of the engine and protect engine from any type of failure. Engine oil additives are chemical compounds that are added with engine oil to provide new properties or to enhance the present properties of the base oil. Engine oil additive is segmented based on the type available each type has different types like viscosity index improvers stabilizes the engine oil and enables it to continue to be effective over a range of different temperature. 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.

 

Depending on type engine oil additives can be categorized into demulsifier, antioxidant, viscosity index improver, anti-wear additives, detergent, friction modifier, anti-foam agent, corrosion inhibitor, and others. VI Improvers are generally are large sized polymer additives which are used for blending multi-grade engine oil, it also helps to prevents viscosity loss of oil.

The end users industry analysis on automotive for engine oil additive is a passenger car, commercial vehicles, motor oils, and in many other industries. All moving parts in any industry require lubrication mainly used in small electric motor bearings hence lubricant additives used in engine oils is high in demand which will help in expanding the market size of engine oil additives market. Our findings on industry analysis impart oils and grease is the most commonly used lubricants in industries. Metalworking fluids mainly designed to provide cooling and prevent metal build-up on the wheel.

Market Research and Market Trends of Engine Oil Additive Market:

Who are the Major Players in Engine Oil Additive market?

The report incorporates an in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis, and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers, and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.

 

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• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level – for product types, end-use applications, and by different industry verticals.
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Key Market Players:

The Top 5 companies in the Engine Oil Additives Market are:

1. BASF SE
2. LANXESS
3. Evonik
4. Lubrizol Corporation
5. Chevron Oronite