In 2023, the US imported 34.2 million kilograms of lubricating oil additives without petroleum or bitumen oils. Forecasted data suggests a steady increase in imports, with projections indicating 35.211 million kilograms in 2024 and reaching 39.031 million kilograms by 2028. The year-on-year growth rate shows a consistent annual increase of about 2.74% over the first few years, highlighting a gradual upward trend. The compound annual growth rate (CAGR) over this five-year period is approximately 2.7%.

Future Trends to Watch:

Emerging technological advancements in additive formulations enhancing performance efficiency.
Increased focus on sustainable and biodegradable additives.
Impact of regulatory changes on import volumes and market dynamics.
Potential shifts towards alternative fuels impacting lubricating oil additive requirements.