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 According to QYResearch's ‘2024-2030 Global and Chinese Lubricant Additives Market Status and Future Trends’, the global lubricant additives market sales reached USD 15.99 billion in 2023 and is expected to reach USD 18.21 billion in 2030, with a compound annual growth rate (CAGR) of 1.9% from 2024 to 2030. As one of the major consumers of lubricant additives in the world, China's apparent demand for lubricant additives will reach 950,100 tonnes in 2021, with a CAGR of 2.99% from 2013 to 2021. The global lubricant additives market has a high degree of concentration. The four major international additives companies, Lubrizol, Run Yinglian, Chevron Orenai and Afton have been involved in the field of lubricant additives for a relatively long time, and they have strong advantages in terms of product series, scale, brand effect, research and development, and patents, etc., and they occupy about 85% of the global market share. Domestic lubricant additives production enterprises In addition to foreign-funded factories in China and state-owned enterprises such as China National Petroleum Corporation (CNPC) and China Petrochemical Corporation (Sinopec), only three enterprises, namely, Li Anlong, Ruifeng New Material and Wuxi Nanfang, have begun to take shape, with most of the foreign-funded enterprises with compounding capacity, while the domestic enterprises have a majority of single-agent production, and the high-end products still need to rely on imports.

Source: China Merchants Securities 
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