UK Lubricant Additives Market Size & Outlook, 2023-2030
UK lubricant additives market, 2018-2030 (US$M)
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UK lubricant additives market highlights
- The UK lubricant additives market generated a revenue of USD 265.4 million in 2023 and is expected to reach USD 352.7 million by 2030.
- The UK market is expected to grow at a CAGR of 4.2% 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 265.4 million |
| Market revenue in 2030 | USD 352.7 million |
| Growth rate | 4.2% (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, UK accounted for 1.5% 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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UK 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 23.13% in 2023. Horizon Databook has segmented the UK 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.
Increasing presence of Asian OEMs in the UK, coupled with a shift in trend towards lower viscosity grade passenger car motor oils are key factors of growing synthetic grade engine oil in the UK market. Lubricant additives segment is witnessing higher penetration of synthetic and semi-synthetic grades.
However, lubricant additives demand in various applications is anticipated to grow at a slower pace than the performance of overall economy owing to industry saturation & maturity. Viscosity index improvers and dispersants are driving lubricants market in the UK.
However, friction modifiers segment is anticipated to grow at a rapid pace over the forecast period owing to high demand for compounds that can contribute to lower wear & tear in automotive components. The stable recovery of automotive production following the crude oil price decline in 2015 has assisted growth in this segment.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into UK lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK lubricant additives market size, by product, 2018-2030 (US$M)
UK Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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