Lubricant Additives Market Size, Share, Growth Analysis, By Product (Dispersants, Viscosity Index Improvers), By Application (Automotive Lubricants, Industrial Lubricants), By Region -Industry Forecast 2024-2031.

Lubricant Additives Market Driver

• The food processing sector is expanding due to rising demand for processed foods and ready-to-eat meals. The beverage industry is seeing an increase in the consumption of healthy, natural, and convenient ready-to-drink smoothies, juices, and yogurts.

Food-grade lubricants, such as gear oils, chain oils, compressor oils, hydraulic oils, and corrosion preventive oils, are used in a variety of system elements across manufacturing and processing lines. In food processing, lubricant additives such as antioxidants, anti-wear additives, thickeners, tackifiers, and so on are used. Food-grade lubricants are an important component in food processing and handling for both food safety and machinery health. Furthermore, key players in the food lubricant additives market are investing heavily in research, development, and innovation activities to launch customized lubricant additives for better performance and to improve sales

Lubricant Additives Market Restraint

• Fluctuating price of the raw materials used in the manufacturing of lubricant additives can be a restraining factor for market growth. Dispersant, frictions modifiers, viscosity index improvers, emulsifiers, anti-wear agents, corrosion inhibitor and others additives formulation require different chemical compounds whose prices varies from supplier to suppliers.
• In development of lubricant additives package a huge amount of R&D is required. OEM engine blueprints and technical lubricant requirements are the basis for manufacturing these additives packages. Thus lengthy R&D process can be a limiting factor for market growth.
• Another factor restraining the market growth would be the rising competition from unorganized and fragmented market. Unorganized players who supply cheap and sub-standard product are giving a tough competition to major lubricant oil additives manufacturers. They sell locally manufactured goods with their own brand name or sell goods procured from unauthorized dealers.