South & Central America Lubricant Additives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis – by Type (Dispersants, Viscosity Index Improvers, Detergents, Antiwear Agents, Emulsifiers, and Others) and Application (Automotive and Industrial)

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 Revenue and Forecast to 2028 (US$ Million)  

  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.

1. Evonik Industries AG.
2. The Lubrizol Corporation.
3. LANXESS.
4. Nouryan.
5. EXXON MOBIL CORPORATION.
6. Croda international plc.
7. Chevron Corporation.
8. BASF SE.                                     

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