The implementation of strict atmospheric emission control standards by governments around the world will continue to be a key driving factor in the global lubricant additive market. According to a report by market research firm Grand View Research, the global demand for lubricant additives in 2015 was 4.28 million tons, and it is expected to reach 5.36 million tons by 2024, with a compound annual growth rate of 2.5% from 2016 to 2024. Calculated by market value, the market value in 2015 was 14.35 billion US dollars, and it will reach 18.85 billion US dollars by the end of 2024.

Viscosity index improvers are the dominant product of lubricant additives, accounting for approximately 23.3% in 2015; Friction modifiers can minimize surface friction to the greatest extent, making them the fastest growing product with an average annual growth rate of 3.5%.

Automotive lubricants are the largest application area, accounting for over 59.5% in 2015. The growth in automotive production and sales in China, Thailand, India, and Indonesia is the main driving factor. Industrial lubricants account for 35%, and the recovery of manufacturing in the United States and Europe, as well as the sustained growth of Asian industries, are positive factors.

The Asia Pacific region is a leading regional market for lubricant additives, with a demand share of over 30% in 2015, and an average annual growth rate of over 3% in the future.