Lubricant Antioxidants Market: High Performance Additives that Increase Lifespan of Lubricants
- Lubricant antioxidants are high performance additives that are used to increase the lifespan of lubricants by raising their oxidative resistance. Lubricant antioxidants provide excellent protection against corrosion, reduce viscosity, eliminate contaminants, and protect oil at high temperature.
- Many synthetic lubricants such as hydrocarbon based lubricating oils are prone to degradation due to formation of sludge and varnish during the oxidation process. Theseantioxidantslower the formation of peroxides and reactive free radicals, which is the major cause of oil thickening and allow lubricants to operate at high temperature.
- Lubricant antioxidants are of two types: primary and secondary. Primary antioxidants comprise hindered phenolic and aromatic amines. Secondary antioxidants comprise phosphites and sulfur-containing compounds such as thioesters and thioethers.
- Lubricant antioxidants are employed in various industries such as automotive, industrial, and others. Automotive is a leading application segment of the market. The automotive segment can be sub-segmented into gasoline engine oil, diesel engine oil, ATF, and gear oil, while the industrial segment can be sub-categorized into compressor oils, hydraulic oils, turbine oils, and metal working fluids. The others segment can be further split into greases, base oils, and fuels.
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Key Players Operating in Lubricant Antioxidants Market:
Major companies operating in the lubricant antioxidants market are adopting the strategy of merger acquisition, new product launch, and production capacity expansion to increase competition and improve their sales in the market. For instance, in January 2019, BASF SE entered into manufacturing and technology licensing agreement with Feiya Chemical Co., based in China, for expanding BASFs global production capacity of antioxidants for lubricants.
Key players operating in the lubricant antioxidants market include
- BASF SE
- SI Group, Inc.
- SONGWON
- Prasol Chemicals Pvt. Ltd.
- Oxiris Chemicals S.A.
- Yasho IndustriesLimited
- Chevron Corporation
- Lubrizol Corporation
- Afton Chemical
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Key Drivers of Lubricant Antioxidants Market:
- Rise in demand for primary lubricant antioxidants in the automotive industry due to their characteristic features such as improved performance, higher additive treat rates, and greater oxidation control is driving the global lubricant antioxidants market. Additionally, implementation of stringent regulations with respect to maintaining fuel efficiency and standard across the globe is boosting the demand for lubricants antioxidants.
- Primary lubricant antioxidants are also known as radical scavengers. These aid in slowing the degradation process by forming new radicals that are more stable. Increase in demand for lubricant antioxidants in order to maximize the protection of the oil against oxidative degradation is driving the global lubricant antioxidants market.
Production Capacity Expansion and Development in Engine Technology to Offer Attractive Opportunities
- Rise in usage of biofuels, development in engine technology, longer lubricant drain intervals, and improvement inautomotive lubricantspecification are encouraging manufacturers to produce more effective antioxidant lubricants for the automotive industry. This is expected to provide lucrative opportunities to manufacturers of lubricant antioxidants in the market.
- Increase in production capacity expansion across the globe is likely to provide lucrative opportunities to manufacturers of lubricant antioxidants. For instance, in January 2019, BASF SE expanded its production capacity for lubricant antioxidants in Puebla, Mexico.
Stringent Regulations on Synthetic Lubricant Antioxidants to Hamper Market
- Poor oxidation stability of natural lubricant antioxidants expected to restrain the market during the forecast period. Additionally, fluctuation in raw material prices and stringent regulations on synthetic lubricant antioxidants may hamper the market during the forecast period.
- Rise in research activities to improve formulation in natural and synthetic lubricant antioxidants is anticipated to boost the market in the near future
Asia Pacific Dominates Lubricant Antioxidants Market
- Geographically, the global lubricant antioxidants market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa
- Asia Pacific, Europe, and North America are the leading consumer of lubricant antioxidants. Rise in demand for lubricant antioxidants to prevent deposits and foam formation in engine oil, typically for the automotive industry, is boosting the market in Asia Pacific.
- Expansion in the automotive industry and rapid industrialization in developing economies of Asia Pacific such as China, India, and Indonesia are some of the factors influencing the market positively in the region
- Demand for lubricant antioxidants in Latin America and Middle East Africa is expected to rise significantly due to the increase in automotive sales and capacity expansion by various automotive manufacturers in these regions
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- North America and Europe are mature economies. The market in these regions is expected to expand at a moderate pace during the forecast period. Implementation of stringent regulations on handling and disposal of lubricants and increase in preference for bio-based lubricants are likely to fuel the demand for non-conventional lubricants antioxidants.
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