U.S. Lubricant Additives Market Size & Outlook, 2023-2030
U.S. lubricant additives market, 2018-2030 (US$M)
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U.S. lubricant additives market highlights
- The U.S. lubricant additives market generated a revenue of USD 3,306.4 million in 2023 and is expected to reach USD 4,111.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.2% 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 3,306.4 million |
| Market revenue in 2030 | USD 4,111.2 million |
| Growth rate | 3.2% (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, U.S. accounted for 18.7% 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 North America, U.S. lubricant additives market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 782.5 million by 2030.
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Lubricant Additives Market Scope
Lubricant Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 22.87% in 2023. Horizon Databook has segmented the U.S. 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.
Lubricant additive applications in the U.S. are highly technical in nature owing to continuous technological advancement, increasing consumer demand for high performance vehicles & evolving regulatory formulations. Automotive lubricants exhibit larger share in North America, however industrial lubricant additives are likely to grow at a significant rate owing to.
Increasing demand for industrial engine oil majorly consumed rapidly expanding end-use industries such as rail & marine, power generation and construction. The U.S. market has witnessed numerous federal regulations over the past few years in order to limit the fuel efficiency of fleets.
Vehicle manufacturers thus require more powerful engines oils made from lubricant additives to reduce maintenance needs of automobiles. This factor is the key factor fostering demand for lubricant additives in automotive applications in the U.S.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. lubricant additives market , including forecasts for subscribers. This country databook contains high-level insights into U.S. lubricant additives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. lubricant additives market size, by product, 2018-2030 (US$M)
U.S. Lubricant Additives Market Outlook Share, 2023 & 2030 (US$M)
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