Lubricant Antioxidants Market: High Performance Additives that Increase Lifespan of Lubricants

  • Lubricant antioxidants are high performance additives that are used to increase the lifespan of lubricants by raising their oxidative resistance. Lubricant antioxidants provide excellent protection against corrosion, reduce viscosity, eliminate contaminants, and protect oil at high temperature.
  • Many synthetic lubricants such as hydrocarbon based lubricating oils are prone to degradation due to formation of sludge and varnish during the oxidation process. These antioxidants lower the formation of peroxides and reactive free radicals, which is the major cause of oil thickening and allow lubricants to operate at high temperature.
  • Lubricant antioxidants are of two types: primary and secondary. Primary antioxidants comprise hindered phenolic and aromatic amines. Secondary antioxidants comprise phosphites and sulfur-containing compounds such as thioesters and thioethers.
  • Lubricant antioxidants are employed in various industries such as automotive, industrial, and others. Automotive is a leading application segment of the market. The automotive segment can be sub-segmented into gasoline engine oil, diesel engine oil, ATF, and gear oil, while the industrial segment can be sub-categorized into compressor oils, hydraulic oils, turbine oils, and metal working fluids. The others segment can be further split into greases, base oils, and fuels. 

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Key Drivers of Lubricant Antioxidants Market:

  • Rise in demand for primary lubricant antioxidants in the automotive industry due to their characteristic features such as improved performance, higher additive treat rates, and greater oxidation control is driving the global lubricant antioxidants market. Additionally, implementation of stringent regulations with respect to maintaining fuel efficiency and standard across the globe is boosting the demand for lubricants antioxidants.
  • Primary lubricant antioxidants are also known as radical scavengers. These aid in slowing the degradation process by forming new radicals that are more stable. Increase in demand for lubricant antioxidants in order to maximize the protection of the oil against oxidative degradation is driving the global lubricant antioxidants market.

Production Capacity Expansion and Development in Engine Technology to Offer Attractive Opportunities

  • Rise in usage of biofuels, development in engine technology, longer lubricant drain intervals, and improvement in automotive lubricant specification are encouraging manufacturers to produce more effective antioxidant lubricants for the automotive industry. This is expected to provide lucrative opportunities to manufacturers of lubricant antioxidants in the market.
  • Increase in production capacity expansion across the globe is likely to provide lucrative opportunities to manufacturers of lubricant antioxidants. For instance, in January 2019, BASF SE expanded its production capacity for lubricant antioxidants in Puebla, Mexico.

Stringent Regulations on Synthetic Lubricant Antioxidants to Hamper Market

  • Poor oxidation stability of natural lubricant antioxidants expected to restrain the market during the forecast period. Additionally, fluctuation in raw material prices and stringent regulations on synthetic lubricant antioxidants may hamper the market during the forecast period.
  • Rise in research activities to improve formulation in natural and synthetic lubricant antioxidants is anticipated to boost the market in the near future 

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Asia Pacific Dominates Lubricant Antioxidants Market

  • Geographically, the global lubricant antioxidants market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific, Europe, and North America are the leading consumer of lubricant antioxidants. Rise in demand for lubricant antioxidants to prevent deposits and foam formation in engine oil, typically for the automotive industry, is boosting the market in Asia Pacific.
  • Expansion in the automotive industry and rapid industrialization in developing economies of Asia Pacific such as China, India, and Indonesia are some of the factors influencing the market positively in the region
  • Demand for lubricant antioxidants in Latin America and Middle East & Africa is expected to rise significantly due to the increase in automotive sales and capacity expansion by various automotive manufacturers in these regions
  • North America and Europe are mature economies. The market in these regions is expected to expand at a moderate pace during the forecast period. Implementation of stringent regulations on handling and disposal of lubricants and increase in preference for bio-based lubricants are likely to fuel the demand for non-conventional lubricants antioxidants. 

Key Players Operating in Lubricant Antioxidants Market:

Major companies operating in the lubricant antioxidants market are adopting the strategy of merger & acquisition, new product launch, and production capacity expansion to increase competition and improve their sales in the market. For instance, in January 2019, BASF SE entered into manufacturing and technology licensing agreement with Feiya Chemical Co., based in China, for expanding BASF’s global production capacity of antioxidants for lubricants.

Key players operating in the lubricant antioxidants market include

  • SI Group, Inc.
  • Prasol Chemicals Pvt. Ltd.
  • Oxiris Chemicals S.A.
  • Yasho Industries Limited
  • Chevron Corporation
  • Lubrizol Corporation
  • Afton Chemical
  • Eni S.p.A.
  • Jinzhou Kangtai Lubricant Additives Co., Ltd
  • Wuxi South Petroleum Additive
  • ADEKA Corporation
  • Chitec Technology Co., Ltd
  • Nye Lubricants, Inc. 
  • Mayzo Inc. 
  • Addivant
  • Double Bond Chemical Ind., Co., Ltd.
  • King Industries, Inc.

Global Lubricant Antioxidants Market: Research Scope 

Global Lubricant Antioxidants Market, by Type

  • Primary
    • Phenolic
    • Aromatic
  • Secondary
    • Phosphites
    • Thioesters
    • Thioethers
    • Others

Global Lubricant Antioxidants Market, by Application

  • Automotive
    • Engine Oil
    • Diesel Engine Oil
    • ATF
    • Gear Oil
  • Industrial
    • Compressor Oils
    • Hydraulic Oils
    • Turbine Oils
    • Metal Working Fluids
  • Others
    • Greases
    • Base Oils
    • Fuels

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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