Latin America Lubricants Additive Market by Product Type (Dispersants, Viscosity index improvers, Detergents, Anti-wear agents, Antioxidants, Corrosion inhibitors, Friction modifiers, Emulsifiers, Others), By Application (Automotive Lubricant, Industrial Lubricants), and Country  

Latin America lubricants Additive Market size was valued at USD XX Million in 2023 and is poised to grow at a CAGR X% from 2024-2030. report gives a comprehensive outlook on Lubricants Additive market across the different countries of Latin America such as Brazil, Mexico, Argentina, Chile, and the Rest of Latin America. The report gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies Latin America Lubricants Additive market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. The market is characterized by the presence of a large number of players. Companies are thriving on various applications of tactics such as merger, acquisition, product launches, and others. For instance, Italmatch Chemicals is planning to acquire Afton Chemicals metalworking fluid business which can prove beneficial for the formers portfolio and help in further expansion. Lanxess, meanwhile, manages to take over Chemtura which will boost its additives market. The lubricant additives market is expected to grow due to enhancing fuel efficiency, improve performance, and engine protection.

The lubricant additives are expected to play a vital role in the coming years, towards fuel economy, especially contributing to emerging technologies like Dual Clutch Technology (DCT). With increasing regulatory pressure on improving the fuel efficiency of vehicles and reducing greenhouse gas emissions, there has been a tremendous development in lubricating oil formulations. Blenders have significantly invested in R&D for developing superior products that adhere to environmental regulations as well as consumer expectations. Since additives play a significant role in base oil blending and subsequent formulations as they are critical materials in improving specification and performance of oils. The trend as stated above has had an enormous impact on the industrys development over the past and is expected to continue driving the Latin America lubricant additives market. Key players are adopting new strategy to establish their footprint worldwide thereby enhancing their product portfolio. Merger, acquisition, product development and collaborations are some of the market strategy the key players implement.

Latin America lubricants Additive Market Key Developments:

In September 2017, BASF commissioned technical lab at Innovation Campus Asia Pacific, located in Navi Mumbai, India.