South Africa Lubricant Additives Market Size & Outlook
South Africa lubricant additives market, 2018-2030 (US$M)
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South Africa lubricant additives market highlights
- The South Africa lubricant additives market generated a revenue of USD 246.2 million in 2023 and is expected to reach USD 300.2 million by 2030.
- The South Africa market is expected to grow at a CAGR of 2.9% 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 246.2 million |
| Market revenue in 2030 | USD 300.2 million |
| Growth rate | 2.9% (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, South Africa accounted for 1.4% 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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South Africa 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 22.66% in 2023. Horizon Databook has segmented the South Africa 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.
South Africa has been generating vast demand for lubricants in recent years, owing to the rise in cost effective solutions that are expected to meet burgeoning demand for all grades in the country, along with the expansion of the automotive & manufacturing industries.
Other industries such as construction, oil & gas and electronics are also witnessing growth in South Africa, as consumer disposable income & standards of living increase as a result of economic progress and rapid industrialization.
With the advent of extensive economic & political changes in South Africa, and the consequent globalization, customers in the country are now demanding higher-quality products, which has boosted lubricants demand in advanced machinery to foster energy efficiency & reduce maintenance costs that hamper productivity.
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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 South Africa lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into South Africa lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa lubricant additives market size, by product, 2018-2030 (US$M)
South Africa Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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