Russia Lubricant Additives Market Size & Outlook
Russia lubricant additives market, 2018-2030 (US$M)
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Russia lubricant additives market highlights
- The Russia lubricant additives market generated a revenue of USD 520.8 million in 2023 and is expected to reach USD 662.9 million by 2030.
- The Russia market is expected to grow at a CAGR of 3.5% from 2024 to 2030.
- In terms of segment, dispersants 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 520.8 million |
| Market revenue in 2030 | USD 662.9 million |
| Growth rate | 3.5% (CAGR from 2023 to 2030) |
| Largest segment | Dispersants |
| 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, Russia accounted for 2.9% 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 Europe, Russia lubricant additives market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 352.7 million by 2030.
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Lubricant Additives Market Scope
Lubricant Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Russia 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.
Dispersants was the largest segment with a revenue share of 23.71% in 2023. Horizon Databook has segmented the Russia 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.
Russia lubricant additives market has witness growth on account of increased motor oil supply and growing demand from both auto makers and consumers. Changes in passenger car designs, increasing annual mileage driven and prolonged service interval mileage are some of the key factors driving Russia’s automotive industry.
Additionally, stringent fuel & carbon emission regulations such as the Corporate Average Fuel Economy (CAFE) and other regulations by the Russia Environmental Protection Agency are promoting lightweight materials in automobiles in order to reduce weight & improve the overall efficiency & performance of these vehicles. This factor is also likely to boost lubricant additives market in Russia over the forecast period.
Antioxidants are anticipated to witness fastest growth in lubricants market on account of growing demand for industrial and natural chemical in end-use industries such as manufacturing, metal and construction. Viscosity modifiers and dispersant lubricants are highly in demand by regional auto manufacturer owing to their versatile properties for multi-grade engines and fuel emission.
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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 Russia lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into Russia lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Russia lubricant additives market size, by product, 2018-2030 (US$M)
Russia Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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