Europe Lubricant Additives Market Size & Outlook
Europe lubricant additives market, 2018-2030 (US$M)
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Europe lubricant additives market highlights
- The Europe lubricant additives market generated a revenue of USD 3,288.0 million in 2023.
- The market is expected to grow at a CAGR of 3.8% 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.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 3,288.0 million |
| Market revenue in 2030 | USD 4,260.0 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Viscosity index improvers |
| Fastest growing segment | Friction Modifiers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Europe region accounted for 18.6% of the global lubricant additives market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,732.7 million by 2030.
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Lubricant Additives Market Scope
Lubricant Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe 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 23% in 2023. Horizon Databook has segmented the Europe 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.
Europe is on the road to recovery from the economic recession of 2009 to 2010. The lubricant additives market has displayed increased in demand owing to manufacturing sector recovery and changing regional base oil supply.
These factors have contributed to higher consumer confidence and shift in socio-economic trends as well. Improving lubricants quality & increasing awareness about fuel economy are some other factors driving Europeans lubricant additives market.
Additionally, industrial lubricant additives manufacturers in Eastern Europe are shifting focus on organic growth in order to extend global reach & penetrate in the regional markets. This strategy has also come as an initiative to expand their lubricant additives product portfolio.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe lubricant additives market , including forecasts for subscribers. This continent databook contains high-level insights into Europe lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe lubricant additives market size, by country, 2018-2030 (US$M)
Europe Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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