Lubricating Oil Additives Market Size, Share, Growth, Analysis, Regional Outlook And Forecast 2021-2027
Market Overview The chemical compounds added to lubricating oils to provide new and improved properties or to enhance the existing properties of the base oil are referred to as lubricating oil additives. The major end-users of the product are the automotive and industrial sectors. The automotive sector is expected to be the leading end-user segment. The need to increase the efficiency of vehicle engines and the durability of machines is likely to boost the demand for lubricating oil additives during the forecast period. In addition, rapid industrialization and urbanization are fueling the demand for passenger and transportation vehicles, which is expected to drive the demand for the product during the review period. Based on type of additive, the global lubricating oil additives market has been categorized as demulsifier, antioxidant, viscosity index improver, detergent, friction modifier, anti-foam agent, corrosion inhibitor, and others. The demulsifier segment is expected t