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The lubricant anti wear agents market size is forecast to increase by USD 108.6 million, growing at a CAGR of 2.78% between 2023 and 2028. The market for lubricating oil additives, specifically those containing anti-wear agents, is experiencing significant growth. This expansion is driven by the heightened importance of maintaining the reliability of machinery and the essential function of anti-wear agents in achieving this goal. Moreover, the increasing demand for lubricants in emerging economies and their widespread utilization across various industries are key factors fueling market growth. Anti-wear agents, such as extreme pressure and anti-wear additives, significantly enhance the dependability of market research data and ensure the optimal performance of lubricating oil additives. Incorporating anti-wear agents into lubricating oil is crucial for predictive maintenance and increasing operational efficiency, ultimately extending the lifespan of equipment in diverse industries.
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The lubricant anti wear agents market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
A captive channel is an operations unit that helps services such as manufacturing and sales of a company. The channel aids the company in decreasing total costs associated with the production of lubricants for diverse purposes while maintaining the desirable additive quality standards. The function of additive suppliers, such as lubricant additive component manufacturers and package makers that sell ready-to-use lubricant additive packages, is reduced in a captive sales channel. This is expected to enhance the demand for the segment and thus will help to propel market growth during the forecast period.
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The captive segment was valued at USD 377.90 million in 2018. In a captive sales channel, the use of additive suppliers such as manufacturers of lubricant additives and package makers that sell ready-to-use lubricant additive packages is reduced. This is expected to increase the demand for this channel, which, in turn, will propel the market growth during the forecast period.
APAC is estimated to contribute 58% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
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The growth of the market in the region can be attributed to factors such as the high consumption of lubricant additives in industries such as automotive, construction, and refining. China, India, Japan, and South Korea are the key contributors to the market in the region. The demand for lubricant anti-wear agents in APAC mainly comes from the automotive industry. The increasing sales of passenger and commercial vehicles in APAC have been driving the consumption of lubricant products.
The role of the market is pivotal in improving the efficiency and durability of automotive and industrial machinery, which in turn necessitates the use of industrial lubricants. Crucial components in automotive engine oil, automotive gear oil, transmission fluid, hydraulic oil, and greases are anti-wear agents, including P-Derivative, AW additives, phosphates, phosphonates, and phosphites. These agents minimize metal-to-metal friction, thereby safeguarding gears and other vehicle components in both passenger cars and commercial vehicles. Collaborations and plant expansions fuel innovation and market expansion, catering to the demands in the market for lubricating oil agents. The market for lubricant anti-wear agents, comprising extreme pressure and anti-wear additives, is indispensable for enhancing the dependability of market research data and optimizing the performance of lubricating oil additives. These agents are vital for maintaining operational efficiency and extending equipment lifespan across various industrial sectors.
In today's industrial landscape, as industries shift towards renewable energy and confront challenges such as public health emergencies, the significance of effective lubrication cannot be overstated for maintaining operational efficiency and environmental responsibility within the lubricant sector. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The increasing need for reliable machinery and effective maintenance is driving growth, particularly in the renewable energy sector, which drives the demand for reliable machinery and effective maintenance. Various factors, such as poor lubrication, contamination, fatigue, and improper fitting, may adversely impact the reliability of machines. Unfortunately, lubrication's importance is often underestimated, leading to neglect and subsequent negative effects on the total cost of equipment ownership. To enhance machine reliability, regular and proper lubrication across all necessary areas is essential. Poor lubrication can result in premature bearing failure, a significant cause of reduced machine reliability. SKF Group, a major global manufacturer of bearings and seals, estimates that one-third of bearing failures worldwide stem from improper lubrication. Therefore, the demand for effective lubrication, including the use of lubricating oil additives and metal components, as well as the adoption of alternative fuels, is expected to positively impact lubricant anti wear agents market growth during the forecast period.
Contamination, exacerbated by global warming and extreme weather events such as rising sea levels, high temperatures, severe flooding, and droughts, poses another challenge to machine reliability. Poor seals or mishandling of lubricants contribute to about one-sixth of bearing failures. Over-based calcium sulfonate additives can mitigate various acidic contaminants in lubricants, while dispersants in additive packages prevent organic contaminant formation on machinery surfaces. Additionally, financial infrastructure supported by organizations like the International Monetary Fund (IMF) plays a crucial role in facilitating market growth. As a result, such factors are projected to exert a favorable influence on the growth of the global market for lubricant anti-wear agents.
Advances in engine oil technology are a trending factor driving the market growth. The development of advanced engine oil through the use of advanced fuel and lubricant technologies is driving the growth of the market. To improve the efficiency of engine oil, prominent companies are investing in the use of advanced antioxidants, surfactants, high-pressure agents, and superior corrosion inhibitors. The market is witnessing the growing use of advanced bonding technology that employs paraffin-based aliphatic hydrocarbons chemically treated to form high-pressure lubricants capable of handling extreme temperatures and pressure. Such lubricants exhibit superior stability due to their long-chain molecular structure and provide high levels of anti-corrosion characteristics. In addition, the use of bonded technology has minimized the use of particles such as graphite, molybdenum disulfide, and polytetrafluoroethylene resins, leading to improved overall engine performance and clearer emissions. These advancements in automotive engine oil technology are expected to propel lubricant anti wear agents market growth during the forecast period.
Fluctuations in crude oil prices are a major challenge in the market. As mineral oil-based lubricants and synthetic lubricants are manufactured from crude oil, fluctuating crude oil prices are expected to hamper the growth of the market during the forecast period. The increasing prices of crude oil can adversely affect manufacturers and end-users. Fluctuations in crude oil prices are a major factor that causes volatility in raw material prices. Synthetic lubricants are primarily derived from hydrocarbons derived from petroleum. Synthetic esters, PAOs, phosphate esters, glycols, and other silicate esters obtained from petroleum are a few other major sources of construction lubricants. Volatility in raw material prices can hinder the growth of the market as it adversely affects the supply and profit margins of manufacturers. Raw materials account for a majority of the total cost of the finished product.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Afton Group - The company offers lubricant anti wear agents such as HiTec 1656 and HiTec 7169.
The lubricant anti wear agents market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Afton Group, AMSOIL Inc., ASL CamGuard, BASF SE, BRB International BV, Chevron Corp., Clariant International Ltd., Croda International Plc, DOG Chemical Products Ltd. and Co. Kg, Dorf Ketal Chemicals I Pvt. Ltd., Dover Chemical Corp., Eni SpA, Evonik Industries AG, Exxon Mobil Corp., Infineum International Ltd., Italmatch Chemicals Spa, Lanxess AG, Solvay SA, The Lubrizol Corp., and Wuxi Southern Petroleum Additives Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is crucial for maintaining the performance and durability of automotive and industrial equipment. Key components such as zinc di-thiophosphate (ZDP), zinc dialkyl di-thiophosphate (ZDDP), tricresyl phosphate (TCP), and P-derivative enhance the effectiveness of automotive transmission fluid, hydraulic fluid, and metalworking fluid. These agents mitigate wear on gears, lubricate parts, and optimize the functionality of petroleum-based products and alternative fuels like biodiesel, ethanol, and natural gas. Amid global challenges such as public health emergencies and environmental concerns like CO2 emissions, the lubricant agent industry continues to innovate with greases and lubricating agents like stearic acid and glycerol mono-oleate. These advancements underscore the sector's commitment to sustainability and efficiency in active automobile sectors and beyond.
The market for lubricant anti-wear agents is experiencing substantial growth due to the escalating need for efficient lubrication in numerous industries, with a particular focus on metal working fluids and gear components. These agents are essential in minimizing wear and tear, thereby improving machinery performance and extending its lifespan. The market for lubricant anti-wear agents and automotive engine oil is extensive, encompassing applications in metal working fluids for manufacturing industries and greases for automotive applications. In the present climate, there is a heightened emphasis on utilizing biodegradable and non-toxic lubricants, including those derived from petroleum products and carbon dioxide. The market expansion is fueled by the imperative for dependable machinery maintenance and the necessity for effective anti-wear solutions. Furthermore, the rising lubricant consumption in emerging economies and expanding applications across various end-user industries are catalysts for market growth, emphasizing its indispensable role in facilitating seamless operations and equipment durability.
Halocarbons, which have long been recognized for their exceptional anti-wear properties, have encountered regulatory hurdles due to their potential environmental and health implications. Nevertheless, they remain a preferred choice for certain applications, such as high-performance automotive greases. The market for lubricant anti-wear agents is projected to expand steadily, fueled by the escalating demand for enhanced machinery productivity, extended equipment lifespan, and the imperative for sustainable and eco-friendly lubricants. This sector is also experiencing substantial research and development initiatives to create sophisticated anti-wear agents tailored to the varying industry specifications.
Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.78% |
Market growth 2024-2028 |
USD 108.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.44 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 58% |
Key countries |
US, Japan, China, Russia, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Afton Group, AMSOIL Inc., ASL CamGuard, BASF SE, BRB International BV, Chevron Corp., Clariant International Ltd., Croda International Plc, DOG Chemical Products Ltd. and Co. Kg, Dorf Ketal Chemicals I Pvt. Ltd., Dover Chemical Corp., Eni SpA, Evonik Industries AG, Exxon Mobil Corp., Infineum International Ltd., Italmatch Chemicals Spa, Lanxess AG, Solvay SA, The Lubrizol Corp., and Wuxi Southern Petroleum Additives Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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