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Lubricant Production and Performance Specifications Strongly Impact Demand for Lubricant Additives
Growth will be buoyed by continued gains in lubricant production, particularly for automotive and industrial engine oils and hydraulic fluids. However, market maturity and introduction of higher value products that can be used at lower treat rates will restrain further increases.
Key Findings in the
Lubricant Additives Study:
Deposit Control Additives to Remain the Largest Product Type Through 2022
Deposit control additives are expected to remain the largest product category for lubricant additives, boosted by updated OEM and emission standards, as well as the introduction of high-performance engine technologies, require more effective deposit control. The best opportunities for deposit control additives will be seen for heavy-duty diesel and industrial engine oils.
Diesel and Industrial Engine Oils to Provide the Best Opportunities
Along with deposit control additives, demand for diesel engine lubricant additives will benefit from rising treat rates in response to the recently introduced PC-11 specifications, in particular antioxidants and friction modifiers. Growth in lubricant production will also boost demand. The rising use of reduced-sulfur marine fuels in response to increasingly stringent environmental regulations will support demand for deposit control, antiwear, and extreme pressure additives in industrial engine oils.
Metalworking Fluids Will Experience Declines Through 2022
Demand for lubricant additives in metalworking fluids is projected to decline, with losses exacerbated by falling production of metalworking fluids resulting from the uptake of fluid-saving technologies. In addition, health concerns surrounding the use of biocides in metalworking fluids will work to restrain demand.
This industry study presents historical demand (2007, 2012, and 2017) and forecasts for 2022 by product (deposit control additives, viscosity modifiers, antiwear and extreme pressure additives, friction modifiers, antioxidants, corrosion inhibitors, emulsifiers, and other lubricant additives) and by market (automotive – engine oils and transmission and other automotive lubricants; industrial – metalworking fluids, industrial engine oils, and hydraulic fluids and other industrial lubricants). The study also evaluates company market share and analyzes industry competitors including Afton Chemical, BASF, Chevron Oronite, Evonik Industries, Infineum, Italmatch, Lubrizol, and Vanderbilt Chemical.
The lubricant additives market in the US encompasses a number of product types and individual applications. For the purpose of this study, lubricant additives are classified into eight product categories:
deposit control additives
antiwear and extreme pressure additives
other additives, including pour point depressants, defoamers, and biocides
The US market for lubricant additives is impacted by a number of factors, but is primarily dependent on demand for finished lubricants. Additives are used in most types of industrial lubricants (e.g., industrial engine oils, metalworking fluids, and hydraulic fluids) and substantially in all factory- and service-fill automotive applications (e.g., motor oils and transmission fluids). Consumption of lubricants is in turn related to the overall state of the US economy, as lubricant use in the short term is closely tied to manufacturing activity and motor vehicle usage.
In addition to US economic activity, environmental and regulatory factors are also significant in driving demand for particular types of lubricant additives and in promoting technological developments that may impact the types and quantities of additives used. The long-term trends toward demand for higher fuel efficiency and reduced emissions have significantly impacted automotive lubricant additive markets, while issues relating to worker health, waste handling, and other environmental concerns have most impacted the market for industrial lubricant additives.
The development of new technology is significant to the lubricant additives industry in terms of both the types of additives that can be produced and the demands placed on lubricants used in automotive and industrial machinery. Due to advances in manufacturing, automotive, and lubrication technology, many types of machines now operate at higher speeds, temperatures, and pressures than in the past, with smaller oil sumps and longer drain intervals. These conditions require higher-performance lubricants, and both the quality and quantity of additives used are important considerations in achieving these requirements.