The Global Engine Oil Additives for Detergents Market is estimated to reach USD 15.17 billion by 2027 from USD 12.60 billion in 2019, delivering a CAGR of 2.3% through the forecast period. The market growth is driven by the growing use of engine oil additives as per OEM specifications for lowering viscosity and improving fuel economy.
The engine oil additives are specialty chemicals that are mixed or added to the engine oil in order to boost the characteristics and performance of a vehicle. The product protects the engine form all sorts of wear tear and also improves the overall fuel economy. The three basic roles of engine oil additives are to suppress the undesirable properties of a base oil along with enhancing and imparting new properties to the base oil. Different types of engine oil additives are used to carry out functions as per specific engine requirements. The key function of the engine oil additives is to improve the viscosity index of the engine oil, which keeps changes due to temperature variations and hampers the proper functioning of the engine. Engine oil additives ensure that the viscosity index of the engine oil remains stable.
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Top Players in the Global Engine Oil Additives for Detergents Market:
Afton Chemical, BASF SE, Croda International Plc., Lucas Oil Products, Inc., Lubrizol, Multisol, Chevron Corporation, Evonik Industries, Infineum International Limited.,BRB International, Total S.A, Gazpromneft Lubricants, Ltd., LUKOIL oil company, ROSNEFT, Royal Dutch Shell plc., Saudi Arabian Oil Co., Exxon Mobil Corporation, BP plc., Statoil, Sinopec Lubricant Company, Jiangsu Tech. Company Limited, Castrol Limited, and Ashland Inc.
Growing demand for high-mileage engines that offer properties such as oil leak prevention, reduction in oil-burn offs, and superior performance is likely to boost Engine Oil Additives for Detergents Market share. Moreover, rapid globalization and urbanization trends fuelling the adoption of automotive will also boost industry revenue share through 2027.
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Market segmentation based on Type Outlook:
- Anti-oxidants
- Detergents
- Pour point Depressants
- Anti-wear additives
- Viscosity modifiers
- Antifoam agents
- Friction modifiers
- Metal Deactivators
- Corrosion inhibitors
- Extreme pressure (EP) Additives
- Demulsifiers
- Emulsifiers
- Biocides
- Tackifiers
- Seal Swell Agent
- Oxidation inhibitors
- Others
Engine Type Outlook:
- Gasoline
- Diesel
- Natural Gas
- Others
End-Use Outlook:
- Automotive
- Industrial
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Engine Oil Additives for Detergents Market over the forecast period?
- What are the major factors driving the global market revenue growth?
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- Which regional market is expected to lead in terms of revenue share in the global Engine Oil Additives for Detergents Market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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