Market Analysis of Global Lubricant Additives in the Next Three Years
Lubricating oil additive is one or more compounds. After adding lubricating oil, it can improve some existing properties or make lubricating oil get some new features, which can improve the efficiency and performance of lubricating oil in a mechanical system, or extend the service life and improve the stability of lubricant. It is widely used in the bearing field. Lubricating oil additive products are mainly used in automobile engine lubricating oil (including natural gas engine), railway locomotive engine oil, ship engine oil, industrial lubricating oil, lubricating grease, emulsion explosive, and other markets.
Since the 1930s, the global lubricant additive industry has gradually developed to a relatively mature stage, with a large market scale and stable growth. According to the reliable statistics of relevant global associations, the global demand for lubricant additives increased from 4 million tons in 2012 to 4.65 million tons in 2019, and the market scale rose from 13.3 billion US dollars to 15.1 billion US dollars. Considering the high-speed growth of emerging economies such as India and Brazil, and the impact of the Federal Reserve's stop of scale reduction on the global economy, the annual demand for actual lubricant additives enters a new round of growth cycle. It is estimated that by 2023, the global demand for lubricant additives will increase to 5.43 million tons, with market size of about US $18.5 billion.
In the world, dispersants, viscosity index improvers, and detergents are the three most commonly used functional agents according to the functional distribution of lubricant additives, accounting for about 65-70% of the total demand of lubricant additives. Among the other additives, 6-7% are antiwear agents, 4-5% are antioxidant, and a friction modifier, 3-4% is emulsifier, and 11-12% are other additives.
In the world, according to the classification of main application fields of lubricant additives, about 70% of lubricant additives are used in the area of motor vehicles (mainly including passenger car engine lubricant, heavy-duty engine lubricant, and other vehicle lubricants); secondly, metalworking fluid and industrial engine lubricant, both of which have the same amount of additives; and a small part of them are used in general industrial oils And lubricating grease.
In the next three years, with the frequent changes in the global lubricant additive market, bearing, as an essential customer, also needs people's attention. Take Eric Bearing Co., Ltd.
as an example, pay close attention to market information, improve bearing quality, and provide better services for people.