India Lubricant Additives Market Size & Outlook, 2023-2030
India lubricant additives market, 2018-2030 (US$M)
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India lubricant additives market highlights
- The India lubricant additives market generated a revenue of USD 713.1 million in 2023 and is expected to reach USD 1,034.0 million by 2030.
- The India market is expected to grow at a CAGR of 5.5% 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 713.1 million |
| Market revenue in 2030 | USD 1,034.0 million |
| Growth rate | 5.5% (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, India accounted for 4.0% 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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India 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 22.84% in 2023. Horizon Databook has segmented the India 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.
India is witnessing growth in various end-use industries such as furniture, construction, packaging and automotive. Rapid industrialization and urbanization has led to increasing building and infrastructure needs in the region.
Rising disposable income has made it possible for consumers to afford newly constructed houses. Increasing government spending on construction activities for various purposes such as sustainable and energy efficient buildings has also boosted demand for lubricant additives in the construction sector.
The Narendra Modi government has also introduced innovative schemes to bolster domestic manufacturing activities by implementing the ‘Make in India’ program and launching various subsidies and incentives to encourage & attract local entrepreneurs.
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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 India lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into India lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India lubricant additives market size, by product, 2018-2030 (US$M)
India Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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