Nigeria Lubricant Additives Market Size & Outlook
Nigeria lubricant additives market, 2018-2030 (US$M)
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Nigeria lubricant additives market highlights
- The Nigeria lubricant additives market generated a revenue of USD 20.5 million in 2023 and is expected to reach USD 26.5 million by 2030.
- The Nigeria 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.
Lubricant additives market data book summary
| Market revenue in 2023 | USD 20.5 million |
| Market revenue in 2030 | USD 26.5 million |
| Growth rate | 3.8% (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, Nigeria accounted for 0.1% 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 Middle East & Africa, Saudi Arabia lubricant additives market is projected to lead the regional market in terms of revenue in 2030.
- Oman is the fastest growing regional market in Middle East & Africa and is projected to reach USD 131.7 million by 2030.
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Lubricant Additives Market Scope
Lubricant Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Nigeria 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 22.93% in 2023. Horizon Databook has segmented the Nigeria 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.
- Nigeria Lubricant Additives Product Outlook (Revenue, USD Million, 2018-2030)
- Dispersants
- Viscosity Index Improvers
- Detergents
- Anti-wear Additives
- Antioxidants
- Friction Modifiers
- Others
- Nigeria Lubricant Additives Application Outlook (Revenue, USD Million, 2018-2030)
- Automotive Lubricants
- Heavy Duty Motor Oil
- Passenger Car Motor Oil
- Others
- Industrial Lubricants
- General Industrial Oil
- Industrial Engine Oil
- Metalworking Fluids
- Others
- Automotive Lubricants
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Our clientele includes a mix of lubricant additives market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Nigeria lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into Nigeria lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Nigeria lubricant additives market size, by product, 2018-2030 (US$M)
Nigeria Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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