Lubricating Oil Additives Market worth $20.4 billion by 2026

The report " Lubricating Oil Additives Market by Type, Application (Engine Oil, Hydraulic Fluid, Gear Oil, Metal Working Fluid, Transmission Fluid, Grease, Compressor Oil), Sector (Automotive & Industrial), and Region - Global Forecast to 2026" , The lubricating oil additives market is projected to reach USD 20.4 billion by 2026, at a CAGR of 2.3% from USD 18.2 billion in 2021. Lubricating oil additives are chemicals that are used to improve the efficiency of lubricants. These lubricating oil additives enhance existing base oil properties, suppress undesirable base oil properties and also impart new properties to base oils. Lubricating oil additives are used in various applications such as in engine oil, hydraulic fluid, gear oil, metalworking fluids, transmission fluid, grease, compressor oil and others. These additives can be categorized into ten types- viscosity index improvers, dispersants, detergent, anti-oxidants, anti-wear agents, rust & corrosion inhibitors,...