Lubricating oil additives serve the lubricating oil market and together with base oil, constitute lubricating oil products, generally accounting for about 2% to 30% of the total lubricating oil. After adding lubricating oil additives, lubricating oil can obtain certain new characteristics or improve its existing characteristics, ultimately achieving the goal of improving the efficiency of lubricating oil in mechanical systems, extending its service life, and improving stability. It can generally be divided into two categories: single agent and composite agent. The global lubricant additive market is huge, and the Chinese lubricant additive market is the second largest market in the world. North America has the largest share of the global lubricant additive market, accounting for approximately 29%, followed by the Chinese market, accounting for approximately 16.6%.

The self-sufficiency rate of domestic lubricant additives has increased. The domestic production of lubricant additives increased from 583300 tons in 2015 to 878200 tons in 2022, with a compound annual growth rate of 6.02%. From the perspective of apparent consumption, the apparent consumption of lubricating oil additives in China in 2022 was approximately 950400 tons, with an average compound annual growth rate of 2.24% from 2015 to 2022. In terms of imports and exports, the increase in the supply of lubricant additives in China has driven up the domestic self-sufficiency rate, while the export volume has also increased year by year. According to data from the General Administration of Customs of China, from January to April 2023, the export volume of lubricant additives in China was 68900 tons, and the import volume was 71600 tons.

Ruifeng New Materials is mainly engaged in the research and development, production, and sales of fine chemical products such as oil additives and carbon free paper colorants. Among them, lubricating oil additive products cover more than 40 types and more than 100 varieties, including detergents, dispersants, ZDDP, high-temperature antioxidants, anti friction and anti-wear agents, engine oil composite agents, diesel oil composite agents, marine oil composite agents, industrial oil composite agents, fuel oil purifiers, etc. According to the company's annual report data, from 2019 to 2022, the sales revenue of lubricating oil additive products increased by 2.868 billion yuan from 581 million yuan. In 2022, the average sales price of lubricating oil additive products reached 20000 yuan/ton, an increase of 5200 yuan/ton compared to 2021.

The research team of Huajing Industrial Research Institute uses a combination of desktop research, quantitative investigation, and qualitative analysis to comprehensively and objectively analyze the overall market capacity, industrial chain, competitive pattern, operating characteristics, profitability, and business model of the lubricant additive industry development. Scientific research models and methods such as SCP model, SWOT, PEST, regression analysis, SPACE matrix are used to comprehensively analyze the market environment, industrial policies, competitive landscape, technological innovation, market risks, industry barriers, opportunities, and challenges of the lubricant additive industry. Based on the development trajectory and practical experience of the lubricant additive industry, carefully study and prepare the "2023-2028 Market Development Monitoring and Investment Outlook Report on China's Lubricant Additive Industry", providing important references for investment decision-making, strategic planning, and industrial research for enterprises, scientific research, investment institutions, and other units.