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The Global Lubricant Anti Wear Agents Market size is estimated to grow by USD 93.04 million between 2022 and 2027, and increase at a CAGR of 2.45%. The growth of the market is driven by several key factors. This includes the increasing need for reliable machinery and maintenance, emphasizing the importance of anti-wear agents. Additionally, rising lubricant demand in developing economies and increased demand from end-user industries further accelerate market growth. These factors collectively highlight the market's crucial role in ensuring operational efficiency and equipment longevity across various industrial sectors. This market research and growth report includes key information about the drivers, trends, and challenges in the market during the forecast period.
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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 371.81 million in 2017 and continued to grow by 2021. In a captive sales channel, the use of additive suppliers such as lubricant additive component manufacturers 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 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast 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.
Amid concerns over global warming and rising sea levels, the Global Lubricant Anti Wear Agents Market witnesses significant growth opportunities driven by agreements, plant expansions, and prominent players investing in renewable energy. As the demand for alternative fuels rises, lubricating oil additives become pivotal in enhancing the performance and longevity of metal components, mitigating the adverse effects of high temperatures, severe flooding, and droughts on petroleum products. Despite such opportunities, the market faces restraints highlighted by the International Monetary Fund (IMF), emphasizing the need for robust financial infrastructure to navigate challenges and capitalize on emerging prospects. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, 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 the market 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 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 the market's 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.
The market growth and forecasting report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various 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 market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 Lubricant Anti-Wear Agents Market is witnessing substantial growth and evolution in the lubricant anti-wear agents industry, driven by agreements, plant expansions, and advancements in renewable energy. With prominent players focusing on market opportunities, particularly in the lubricating oil additives market for gear oil, transmission fluid, and hydraulic fluid, the sector is experiencing significant developments globally. Metal components in motor vehicles require effective protection from wear, prompting collaboration with organizations such as the European Automobile Manufacturers Association and initiatives by the European Union and Asia Pacific nations like Indonesia to bolster the market.
Despite restraints such as concerns over global warming and petroleum product consumption, emerging economies in BRICS countries and G7 nations continue to drive demand, supported by industrial development and investments. In response to market demands, lubricant anti-wear agents manufacturers are diversifying their product offerings, including zinc di-thiophosphate (ZDP), tricresyl phosphate (TCP), and stearic acid, to meet the needs of diverse applications in hydraulic oil, grease, metalworking fluid, automotive transmission fluid, and automotive gear oil.
The market witnesses significant structural changes, influenced by factors like volatile crude oil prices and emerging alternative fuels. Lubricant anti-wear agents, including Zinc dialkyl Di-thiophosphate (ZDDP) and halocarbons, play a crucial role in the lubricant agent industry, supported by manufacturers specializing in anti-wear agents. As the world grapples with rising sea levels, high temperatures, and extreme weather events like severe flooding and droughts, the demand for effective lubrication becomes paramount. This demand is particularly evident in G7 countries, where industries seek innovative solutions to mitigate the impact of environmental challenges on petroleum products and lubricant formulations.
The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Lubricant Anti Wear Agents Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.45% |
Market growth 2023-2027 |
USD 93.04 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.11 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 59% |
Key countries |
US, China, India, Japan, and Russia |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Afton Group, AMSOIL Inc., ASL CamGuard, BASF SE, Chevron Corp., Clariant International Ltd., Croda International Plc, DOG Chemical Products Ltd. and Co. Kg, Dorf Ketal Chemicals India Pvt. Ltd., Dover Chemical Corp., Eni Spa, Evonik Industries AG, Exxon Mobil Corp., Infineum International Ltd., Italmatch Chemicals Spa, Lanxess AG, PETRONAS Chemicals Group Berhad, 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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