Lubricant Additives to 2017

Published: April 2013
No. of Pages: 212

This study analyzes the US lubricant additives industry. It presents historical demand data (2002, 2007, 2012) and forecasts for 2017 and 2022 by type (e.g., deposit control additives, viscosity index improvers, antiwear and extreme pressure additives, antioxidants, corrosion inhibitors, defoamers, pour point depressants) and market (e.g., automotive and industrial engine oil, transmission fluid, hydraulic fluid, metalworking fluids). The study also considers market environment factors, evaluates company market share, and profiles industry players.

US demand to reach 2.5 billion pounds in 2017

Demand for lubricant additives in the US is expected to increase to 2.4 billion pounds in 2017, valued at $3.8 billion, with growth resulting from rebounding lubricant production and modestly rising additive treat rates. Additives such as antioxidants and friction modifiers, which are capable of providing longer lubricant service life or fuel efficiency benefits, will see the strongest demand growth, while those such as antiwear and extreme pressure additives containing potentially undesirable chemistries will experience below average advances. OEM specifications for lubricant performance will continue to drive changes in formulations, with particular focus on lubricants’ contribution to meeting fuel economy and emissions regulations leading to increased demands placed on related lubricant characteristics.

Industrial uses to outpace automotive applications

Automotive applications tend to be highly technical and present a larger market for both finished lubricants and lubricant additives than do industrial uses. However, demand for additives in automotive lubricants will be restrained due to weak growth in vehicle usage, lengthening service intervals, and little room to further increase additive concentrations. This will have the largest impact on deposit control additives, including dispersants and detergents, which are a major component of engine oils and account for the largest share of total lubricant additives demand. Deposit control additives will grow at a below average rate, despite benefiting from strict requirements for engine cleanliness present in the upcoming GF-6 passenger car engine oil specification.

Though smaller in volume than automotive markets, industrial lubricants will exhibit stronger growth in both lubricant production and additive concentrations. Treat rates will rise most rapidly in general oils and hydraulic fluids, with trends in finished lubricant production favoring these fluids as well. Industrial engine oils, such as those used in rail and marine applications, power generation, and other stationary engines, contain among the highest levels of additives used in industrial lubricants, and will thus continue to be important markets for additives. Industrial engine lubricants will face many of the same future challenges as automotive engine oils, with fuel efficiency, equipment protection, and lubricant service life all important factors influencing the demand for additives.

Environmental concerns to continue affecting demand

Environmental concerns will continue to play a major role in lubricant formulation and use. Reduction of elements such as chlorine, phosphorus, sulfur, and metals has proceeded at a rapid pace over the past decade, particularly in automotive lubricants. Although there is no immediate regulatory push for further reduction of these chemicals in automotive lubricants, end users in all markets will increasingly demand lubricants perceived to be less harmful to equipment, worker health, and the environment. Use of more environmentally friendly fuels, including renewable fuels, in both automotive and industrial engines will also drive changes in lubricant formulation and additive demand. For example, expanding use of biodiesel in the motor vehicle fuel pool will require better oxidation and corrosion protection from lubricants. In contrast, falling sulfur content in marine fuel oil may reduce the need for detergents in marine engine lubricants.

Company Profiles

Profiles for US industry competitors such as Afton Chemical, Chevron Oronite, Infineum, and Lubrizol

Additional Information

This report covers the US market for lubricant additives by type (deposit control additives, viscosity modifiers, antiwear and extreme pressure additives, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others) and by market (automotive lubricants and industrial lubricants). Automotive lubricants include gasoline and diesel engine oils, automatic transmission fluids, and lubricants with other automotive applications. Industrial lubricants include industrial engine oils, metalworking fluids, and others.

Historical data for 2002, 2007, and 2012 and forecasts for 2017 and 2022 are provided in pounds and current dollars at the manufacturers’ level. The term “demand” refers to US sales or apparent consumption and is equivalent to US production plus imports, less exports. Tabular details may not add to totals due to independent rounding, and ratios may be rounded for the sake of clarity.

Due to the Bureau of Economic Analysis’ use of chain weighted price indexes, inflation-adjusted Gross Domestic Product components (2005 dollars) do not add to the total. Prices as they appear in this study are presented to show general trends in pricing and may not represent actual sales prices for products. Prices are weighted averages based on information gathered from producers, trade associations, and internal Freedonia databases.

Macroeconomic indicators used in this study are obtained from The Freedonia Group Incorporated Consensus Forecasts dated January 2013. Corporate sales figures represent estimates based on annual reports, SEC Form 10-K filings, security analyst reports, corporate product literature, interviews with competitors, and interviews with responsible officers in the companies themselves.

Lubricant Additives to 2017

Table Of Contents

Introduction VIII

I. Executive Summary 1

II. Market Environment 4
General 4
Macroeconomic Overview 5
Motor Vehicle Outlook 8
Manufacturing Outlook 12
Crude Oil & Refined Petroleum Products Outlook 15
Historical Trends 18
Pricing Trends 20
Environmental & Regulatory Issues 22
Federal Regulations 23
Environmentally Friendly Lubricants 24
Metalworking Fluids 25
Hybrid & Alternative Fuel Vehicles 27
Other Environmental & Regulatory Issues 30
Technology 30
Motor Vehicle Technology 32
Light Vehicle Design 32
Diesel Engines 34
Industrial Machinery Trends 35
International Activity 36
Foreign Trade 38
Exports 39
Imports 41

III. Lubricant Industry Overview 43
General 43
Lubricants Outlook 46
Automotive Lubricants 47
Industrial Lubricants 49
Basestocks 52
Petroleum 54
Other Basestocks 55
Synthetic Lubricants 57
Re-Refined Lubricants 59
Motor Vehicle Lubricant Classification & Testing 61
Passenger Car Specifications 62
Diesel Engine Oil Specifications 63
Lubricant Production Trends 64

IV. Lubricant Additives By Type 66
General 66
Deposit Control Additives 71
Dispersants 73
Detergents 76
Viscosity Modifiers 78
Antiwear & Extreme Pressure Additives 81
Antiwear Additives 82
Extreme Pressure Additives 85
Friction Modifiers 88
Antioxidants 90
Emulsifiers 92
Corrosion Inhibitors 94
Other Lubricant Additives 96

V. Lubricant Additives By Market 99
General 99
Automotive Lubricant Additives 102
Engine Oil Additives 104
Gasoline Engine Oil Additives 106
Diesel Engine Oil Additives 110
Transmission Fluid & Other Auto Lubricant Additives 113
Automatic Transmission Fluids 115
Tractor Hydraulic & Transmission Fluids 117
Power Steering & Other Transmission Fluids 118
Other Automotive Lubricants 118
Market Share 119
Industrial Lubricant Additives 121
Metalworking Fluid Additives 124
Industrial Engine Oil Additives 129
Other Industrial Lubricant Additives 131
Hydraulic Fluids 133
Industrial Gear Oils 134
Industrial Greases 135
Other Industrial Lubricants 135
Market Share 136

VI. Industry Structure 138
General 138
Market Share 142
Competitive Strategies 145
Research & Development 145
Product Differentiation 146
Market Segmentation 147
Cost Controls 148
Merger & Acquisition Activity 149
Company Profiles 152
Acme-Hardesty Company 153
Afton Chemical, See Newmarket Akzo Nobel NV 154
Albemarle Corporation 156
Arch Chemicals, See Lonza Group Arkema SA 157
Basf SE 159
Berkshire Hathaway Incorporated 161
Calumet Specialty Products Partners LP 165
Chemtura Corporation 166
Chevron Corporation 169
Clariant International Limited 172
Croda International PLC 174
Detrex Corporation 176
Dover Chemical, See ICC Industries
Dow Chemical Company 178
Elco, See Detrex Evonik Industries AG 180
Exxon Mobil Corporation 182
Functional Products Incorporated 183
Huntsman Corporation 184
ICC Industries Incorporated 186
Infineum International Limited 188
Innospec Incorporated 191
International Petroleum Products & Additives Company Incorporated 192
King Industries Incorporated 194
Lanxess AG 195
Lonza Group Limited 198
Lubrizol, See Berkshire Hathaway Mitsui Chemicals Incorporated 200
Münzing Chemie GMBH 201
Newmarket Corporation 202
Pilot Chemical Company 205
Rhein Chemie, See Lanxess Rhodia Novecare, See Solvay Royal Dutch Shell PLC 206
Rubicon, See Chemtura And Huntsman Soltex Incorporated 207
Solvay SA 209
Vanderbilt (RT) Company Incorporated 211

List Of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 Macroeconomic Indicators 8
2 Motor Vehicle Indicators 12
3 Manufacturers’ Shipments 15
4 Crude Oil & Refined Petroleum Products Supply & Demand 17
5 Lubricant Additive Market, 2002-2012 19
6 Lubricant Additive Pricing Trends 22
7 Lubricant Additive Foreign Trade 39

Section III -- Lubricant Industry Overview
1 Finished Lubricant Demand 47
2 Automotive Lubricant Supply & Demand 49
3 Industrial Lubricant Supply & Demand 51
4 Total Base Oil Demand 53
5 Petroleum Base Oil Supply & Demand 55
6 Re-Refined Lubricant Demand 60
7 Finished Lubricant Production 65

Section IV -- Lubricant Additives By Type
1 Lubricant Additive Demand 69
2 Deposit Control Additive Demand 73
3 Dispersant Demand 75
4 Detergent Demand 78
5 Viscosity Modifier Demand 80
6 Antiwear & Extreme Pressure Additive Demand 82
7 Antiwear Additive Demand 85
8 Extreme Pressure Additive Demand 87
9 Friction Modifier Demand 89
10 Antioxidant Demand 92
11 Emulsifier Demand 93
12 Corrosion Inhibitor Demand 96
13 Other Lubricant Additive Demand 98

Section V -- Lubricant Additives By Market
1 Lubricant Additive Demand By Market 100
2 Automotive Lubricant Additive Demand 103
3 Engine Oil Additive Demand 106
4 Gasoline Engine Oil Additive Demand 110
5 Diesel Engine Oil Additive Demand 113
6 Transmission & Other Automotive Lubricant Additive Demand 115
7 Industrial Lubricant Additive Demand 123
8 Metalworking Fluid Additive Demand 126
9 Industrial Engine Oil Additive Demand 131
10 Other Industrial Lubricant Additive Demand 133

Section VI -- Industry Structure
1 Selected Lubricant Additive Company Sales, 2012 140
2 Selected Acquisitions & Divestitures 151

List Of Charts

Section II -- Market Environment
1 Lubricant Additive Market, 2002-2012 20
2 Us Lubricant Additive Exports By Region, 2012 41
3 Us Lubricant Additive Imports By Region, 2012 42

Section III -- Lubricant Industry Overview
1 Lubricant Production Flowchart, 2012 45

Section IV -- Lubricant Additives By Type
1 Lubricant Additive Demand By Type, 2012: Volume & Value 70

Section V -- Lubricant Additives By Market
1 Lubricant Additive Demand By Market, 2012 101
2 Automotive Lubricant Additive Market Share, 2012 121
3 Industrial Lubricant Additive Demand By Type, 2012 124
4 Industrial Lubricant Additive Market Share, 2012 137

Section VI -- Industry Structure
1 Lubricant Additive Market Share, 2012 143

Published By: Freedonia Group
Product Code: Freedonia Group216

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