The South & Central America lubricant additives market is expected to grow from US$ 1,133.85 million in 2021 to US$ 1,341.23 million by 2028; it is estimated to grow at a CAGR of 2.4% from 2021 to 2028.
Renewable energy, a subsegment of the power generation industry, is one of the leading consumers of industrial lubricants, especially turbine oil and transformer oil. Wind energy is one of the fastest-growing renewable energy. Wind turbine lubricants play an important role in the operation, maintenance, and reliability of a wind farm. Various points in a wind turbine need lubrication; these include the gearbox, open gear, pitch gear, and pitch bearing, which require lubricants such as gear oils, hydraulic oils, and greases. Thus, it is estimated to install wind power generation plants at twice the pace recorded in the next decade to reduce carbon emissions and avoid the impact of climate change on utilities. Thus, such a growth trajectory of wind power generation holds potential opportunities for lubricant additives producers. Thus, the South & Central America lubricant additives market is expected to grow at a notable CAGR during the forecast period.
South & Central America Lubricant Additives Market Segmentation
The South & Central America lubricant additives market is segmented into type, application, and country. Based on type, the market is categorized into dispersants, viscosity index improvers, detergents, antiwear agents, emulsifiers, and others. In 2021, the dispersants segment held the largest market share. Based on application, the market is bifurcated into automotive and industrial. In 2021, the automotive segment held a larger market share. Further, based on country, the South & Central America lubricant additives market is segmented into Brazil, Argentina, and the Rest of SAM. Brazil has contributed a substantial share in 2021.
Evonik Industries AG, The Lubrizol Corporation, LANXESS, Nouryan, EXXON MOBIL CORPORATION, Croda International plc, Chevron Corporation, and BASF SE are among the leading companies operating in the South & Central America lubricant additives market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,133.85 Million |
| Market Size by 2028 | US$ 1,341.23 Million |
| CAGR (2021 - 2028) | 2.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South & Central America Lubricant Additives Market is valued at US$ 1,133.85 Million in 2021, it is projected to reach US$ 1,341.23 Million by 2028.
As per our report South & Central America Lubricant Additives Market, the market size is valued at US$ 1,133.85 Million in 2021, projecting it to reach US$ 1,341.23 Million by 2028. This translates to a CAGR of approximately 2.4% during the forecast period.
The South & Central America Lubricant Additives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Lubricant Additives Market report:
The South & Central America Lubricant Additives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Lubricant Additives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Lubricant Additives Market value chain can benefit from the information contained in a comprehensive market report.
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