Friction Modifier Additives Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Friction Modifier Additives Market grew at a CAGR of 3.9% between 2017-2021 and is estimated to be US$ 1,209.8Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.7% and is expected to reach a valuation of US$ 1,915.1Mn by 2032 end.
Growth in the market is anticipated to be fueled by increasing demand for organic friction modifier additives. The need for friction modifier additives is also expected to rise due to various qualities, including an increase in lubricity and a smoother transition between speeds. Additionally, it is projected that the market for friction modifier additives will rise due to the automotive industry’s increasing need for Polymeric Friction Modifiers (PFMs).
ChemView Consulting has analyzed that the oil’s rheological characteristics must be altered to lessen friction caused by lubricant churning and pumping. The engine fluids with high and low viscosity friction modifiers are used to achieve this. The global automotive industry is expanding quickly, and there is growing interest in reducing friction in lubricated automotive parts to improve vehicle efficiency. These factors are driving growth in the market for friction modifier additives, and the trend is anticipated to last throughout the forecast period. Automakers constantly emphasize advanced oil additives to improve fuel economy and reduce pollution regulations. Manufacturers of friction modifier additives and lubricant formulators are working together to develop enhanced engine oil formulation.
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Due to the global automotive industry’s rapid growth, the lubricants segment for cars owns the greatest proportion of the market for friction modifier additives globally. However, over the projected period, the demand for friction modifier additives is anticipated to demonstrate encouraging growth in the power-generating sector.
Segments Covered in Report
By Product Type:
- Fatty Acids
- Esters & Amides
- Automobile Lubricants
- Industrial Lubricants
- Rail Lubricants
- Aviation Lubricants
- Power Generation Lubricants
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Friction Modifier Additives Market
- Based on the product type, due to the global automotive industry’s rapid growth, the lubricants segment for cars owns the greatest proportion of the market for friction modifier additives globally. However, over the projected period, the demand for friction modifier additives is anticipated to demonstrate encouraging growth in the power-generating sector.
- Based on the region, with a market share of 47.1%, the Asia-Pacific region is anticipated to grow into a lucrative market for major players operating in the global friction modifier additives market. Over the forecast period, the market in the Asia-Pacific region is anticipated to develop at the quickest CAGR.
Key companies covered in the market study are Adeka Corp, BRB International BV, King Industries Inc, Croda International Inc., Chevron Corp, Lubrizol Corporation, BASF SE, Afton Chemicals Corporation, CSW Industrial, Wynn’s, Dorf Ketal, DOG Chemie, ABITEC, Lanxess
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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