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Home > News > Global Demand for Lubricant Additives Reached 4.4 Million Tons in 2023

Global Demand for Lubricant Additives Reached 4.4 Million Tons in 2023

2019-10-09

With the development of industrial technology, the high speed, high performance, high automation, high efficiency and long service life required by modern equipment. It is difficult to use mineral oil lubricant alone in lubrication. Adding a small amount of other substances in lubricating materials can improve its performance and give it new characteristics. These substances are called additives to lubricants.


Lubricant oil additives can be divided into Detergent, Dispersant, High Temperature Antioxidant, Corrosion Inhibitor, Antiwear Ep Additive, Pour Point Depressant ect..And different additives have different effects.

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Adding different additives to oil products is the most economical and effective way to improve oil quality. Generally speaking, the variety and quality of lubricating oil often depend on the variety and quality of additives. Therefore, the development of production and use of additives has become an important way to make rational and effective use of resources, improve equipment performance and save energy.


According to the June 9 Report of Chemistry Weekly, USA, IHS Markit's latest research report shows, In 2018, the global market demand for lubricant additives reached 4.2 million tons, with a market value of about 15 billion US dollars. Although consumption growth has slowed down, it will continue to grow at an average annual rate of about 1.3% between 2018 and 2023, and the global market demand for lubricant additives will reach 4.4 million tons by 2023.


As a professional manufacturer of Lubricant Additive for years, and our main products including: Lubricant Component, Lubricant Additive Package and Metal Working Fluid. If you need it, please contact us. We are very happy to provide you quite professional service and give you a competitive price as reference.
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