China Lubricant Additives Market Size & Outlook, 2023-2030
China lubricant additives market, 2018-2030 (US$M)
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China lubricant additives market highlights
- The China lubricant additives market generated a revenue of USD 2,525.9 million in 2023 and is expected to reach USD 3,606.6 million by 2030.
- The China market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, viscosity index improvers was the largest revenue generating product in 2023.
- Friction Modifiers is the most lucrative product segment registering the fastest growth during the forecast period.
Lubricant additives market data book summary
| Market revenue in 2023 | USD 2,525.9 million |
| Market revenue in 2030 | USD 3,606.6 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Viscosity index improvers |
| Fastest growing segment | Friction Modifiers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Dispersants, Viscosity Index Improvers, Detergents, Anti-wear Additives, Antioxidants, Friction Modifiers |
| Key market players worldwide | Basf SE, Lanxess AG, Chevron Corp, Croda International PLC, Evonik Industries AG, Berkshire Hathaway Inc Class A, Brother Industries Ltd |
Other key industry trends
- In terms of revenue, China accounted for 14.3% of the global lubricant additives market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China lubricant additives market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,034.0 million by 2030.
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Lubricant Additives Market Scope
Lubricant Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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China lubricant additives market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lubricant additives market will help companies and investors design strategic landscapes.
Viscosity index improvers was the largest segment with a revenue share of 22.94% in 2023. Horizon Databook has segmented the China lubricant additives market based on dispersants, viscosity index improvers, detergents, anti-wear additives, antioxidants, friction modifiers covering the revenue growth of each sub-segment from 2018 to 2030.
China is extremely rich in resources such as petrochemical reserves and is characterized by availability of highly skilled labor. Raw material availability ensures consistent supply even at times of fluctuating demand.
The country is one of the most densely populated regions, leading to a high demand for housing facilities and growth in the residential construction sector, which is driving lubricants consumption in building machinery & equipment such as excavators, bulldozers and others.
Additionally, the evolving automotive industry in China has also led to an increase in demand for lubricant additives in the region. Rising demand for SUVs and new energy vehicle has widened the China’s automotive market.
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Our clientele includes a mix of lubricant additives market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the China lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into China lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China lubricant additives market size, by product, 2018-2030 (US$M)
China Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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