According to the new market research report by IndustryARC titled “Engine Oil Additives Market: By Type (Anti-Oxidants, Anti-Wear Additives, VI Improvers, Corrosion Inhibitors, PPD (Pour Point Depressants), Others); By Engine Type (Gasoline, Diesel, Natural Gas); By End-User (Passenger Car, Commercial Vehicle, Motorcycle, Others); By Geography – (2014-2020)”, the market is driven by the increasing year on year motorcycles production, and government regulations to enhance fuel economy.
APAC held the largest market share and growth rate in the Engine Oil Additives Market
Asia Pacific accounts for the largest market share and growth in the Engine Oil Additives Market, and is anticipated to reach $5.16 billion by 2023 at a CAGR of 3.9%. Higher sales of commercial vehicles, passenger cars as well as motorcycles in APAC are the reasons behind the lucrative APAC engine oil additives market. The key end users in this region include passenger cars, commercial vehicles, and motorcycles among others.
Selected Value Chain Analysis was done in the full report
- Engine oil additives are developed from chemical compounds in the laboratory. Additives manufacturers procure chemical compounds such as ZDDP, calcium sulfonate, hindered phenol and others, from chemical manufacturers or suppliers to produce additives for the engine oil, either in packaged form or as single agents.
- Procuring chemical compounds is the first step in the value chain of engine oil additives. There are many suppliers of raw material, which are used for manufacturing additives. In some cases, the composition of additives packages depends on the OEM (Original Equipment Manufacturer) requirements and type of engine oil is manufactured.
- It is very important for the additives manufacturer to retain fair relations with raw materials suppliers, OEM partners, and other industry groups. Close contact with them will help to develop better products for the industry.
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Excerpts on Market Growth Factors
- The demand for these additives is growing with the increase in the demand for engine oil.
- The Asia Pacific is the fastest growing region for this market. Higher sales of commercial vehicles, passenger cars as well as motorcycles in the APAC are the reasons behind the lucrative APAC engine oil additives market.
- Asia is the new growing hub for additives market due to the growth in the end user industry which is a passenger car, commercial vehicle, and motorcycle.
- Apart from China and India, due to high motorcycle production in Indonesia and Thailand, additives consumption also increased.
- In the European region, Germany and Russia are the largest markets for engine oil additives. Whereas, in terms of growth rates till 2020, the U.K. engine oil market will grow at a higher growth rate as compared to Russia, owing to the increased fleet size for heavy-duty commercial vehicles.
- Engine oil manufacturers buy additives in bulk due to the huge requirement in manufacturing to meet the growing demand for engine oil.
- The commercial vehicle is the largest end user of engine oil additives and is anticipated to reach $4.87 billion by 2023 at a CAGR of 2.5%.
- Europe is the leading market for passenger car engine oil additives and is anticipated to reach $1.42 billion by 2023 at a CAGR of 3.0%.
- Asia Pacific is the second largest market for commercial vehicle engine oil additives and is estimated to reach $1.14 billion by 2023 at a CAGR of 2.10%.
- Natural gas engine oil additive is constantly growing and is estimated to acquire a huge share in the engine oil additives market in future.
- Engine oil manufacturer for passenger car and commercial vehicle is the largest end user of engine oil additives in the U.S. All countries in America have a very high proportion of vehicles with respect to population, but in the last two years the growth for new vehicular registration is observing a slow rate of growth as the market has reached maturity.
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Key players of Engine Oil Additives Market:
- Afton Chemical Corporation dominates the Engine Oil Additives Market and the other key players include Lubrizol Corporation, Chevron Corporation, BASF SE, and Evonik Oil Additives USA Inc.
- Chevron Corporation holds the largest share in the engine oil additives, followed by Lubrizol Corporation and BASF SE. BASF SE invested the highest share of capital for R&D to improve its product portfolio. High EBITDA of Chevron Corporation as compared to other players, indicates the high profitability of the company.
Engine Oil Additives Market Report is segmented as indicated below
- Engine Oil Additives Market By Type:
- Anti-wear additives
- VI Improvers
- Corrosion Inhibitors
- Friction modifiers
- Engine Oil Additives By Engine Type
- Natural Gas
- Engine Oil Additives Market By End Users
1. Passenger Car
2. Commercial Vehicle
- Engine Oil Additives Market By Geography (Covers 13+ countries)
- Engine Oil Additives Market By Entropy
- Vanderbilt Chemicals, LLC
- Petroleum Chemicals, LLC
- Infineum International Ltd
- Total Sales Revenue
- Croda International PLC
- Company 7
- Company 8
- Company 9
- Company 10+
What can you expect from the report?
The Engine Oil Additives Market is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories
- Market trends
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End-user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Demand Analysis (By Revenue & Volume)
- Country level Analysis (15+)
- Competitor Analysis
- Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis
- Current & Future Market Landscape Analysis
- Opportunity Analysis
- Revenue and Volume Analysis
Does IndustryARC publish country, geography or application based reports in Engine Oil Additives Market?
Yes, we do have separate reports as mentioned below:
- Americas Market for Engine Oil Additives (2018-2023)
- Europe Market for Engine Oil Additives (2018-2023)
- APAC Market for Engine Oil Additives (2018-2023)
- RoW Market for Engine Oil Additives (2018-2023)
- Anti-oxidants Market for Engine Oil Additives (2018-2023)
- Detergents Market for Engine Oil Additives (2018-2023)
- Dispersants Market for Engine Oil Additives (2018-2023)
- Anti-wear additives Market for Engine Oil Additives (2018-2023)
- VI Improvers Market for Engine Oil Additives (2018-2023)
- Corrosion Inhibitors Market for Engine Oil Additives (2018-2023)
- Friction Modifiers Market for Engine Oil Additives (2018-2023)
- PPD Market for Engine Oil Additives (2018-2023)
- Gasoline Market for Engine Oil Additives (2018-2023)
- Diesel Market for Engine Oil Additives (2018-2023)
- Natural Gas Market for Engine Oil Additives (2018-2023)
- Passenger Car Market for Engine Oil Additives (2018-2023)
- Commercial Vehicle Market for Engine Oil Additives (2018-2023)
- Motorcycle Market for Engine Oil Additives (2018-2023)
Does IndustryARC customize these reports and charge additionally for limited customization?
Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in the application or end-user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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