Lubricant Antioxidants Market: Overview
- 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. These antioxidants lower 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.
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 in automotive lubricant specification 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
Key players operating in the lubricant antioxidants market include
- BASF SE
- SI Group, Inc.
- Prasol Chemicals Pvt. Ltd.
- Oxiris Chemicals S.A.
- Yasho Industries Limited
- Chevron Corporation
- Lubrizol Corporation
- Afton Chemical