Figure 1. The relative component sizes of the additives market
corrosion inhibitors, emulsifiers, friction modifiers, EP, and a wide range of very small volume products. These additives are primarily used in metalworking fluids and general industrial oils.
Market outlook Broadly speaking the lubricant additive market is driven by growth in finished lubricant demand and the development and proliferation of new quality levels. The first factor – finished lubricant demand growth – drives an overall growth in the lubricant additive volume. The second factor – quality shifts – drives growth in certain additives classes and subdues other categories.
For example, detergent demand is actually shrinking due to changes in automotive engine oils and marine engine oils. The growth in low ash oils, used to extend the life of diesel particulate filters, drives a reduction in detergent treat rates since detergent contributes to the ash content. Also the reduction in the marine fuel sulfur in 2020 will drive a reduction in the detergent used in marine engine oils. Both of these factors will drive a nearly 2% average annual decline over the next five years.
Among lubricant additives that experience strong growth will be antioxidants, VIIs, and friction modifiers. Antioxidant treat rates are increasing due to the extension of drain intervals (which require engine oils to last longer) and due to the increase usage of biodiesel and ethanol. The growth in VIIs can be directly linked with the growth in multigrades in both PCMO and HDMO markets. Friction modifier growth will be driven by the increased focused on fuel economy.
Summary
Lubricant additives are used to enhance the performance of lubricants. Though their market volume is small, they are an important market in terms of value. Additives play a crucial role in the business and market development goals of lubricant marketers. They support the implementation of new technologies with appropriate lubricant solution. They support new product development, product extension, customisation, marketing claims for lubricant companies.
EMAIL LINK
Milind.Phadke@
KlineGroup.Com
LUBE MAGAZINE NO.145 JUNE 2018
21
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