The market is expected to generate an incremental $ opportunity of US$ 705.3Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : November 2022 ID: CVC-00551 Format: PDF Pages: 270
Friction Modifier Additives Market Size Analysis
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.
The strong automotive sector and a sizable volume of passenger car production are the main drivers of the global friction modifier additives market. Chemicals or substances known as “friction modifier additives” are added to lubricants to lessen friction and wear on machine parts.
Particularly in the boundary lubrication regime, where they prevent solid surfaces from coming into direct touch, minimizing friction and wear, they have grown increasingly important.
The demand for friction modifier additives in the market will continue to be driven by the growing emphasis on minimizing friction in lubricated machine components to improve machines’ energy efficiency and extend their life. The organic friction modifier additives segment is predicted to retain the largest proportion of the worldwide market in terms of product type.
GROWING DEMAND FOR AUTOMOTIVE LUBRICANTS WORLDWIDE
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.
PENETRATION OF BATTERY-POWERED ELECTRIC VEHICLES WOULD SIGNIFICANTLY REDUCE THE DEMAND FOR VEHICLE LUBRICANTS, WHICH, IN TURN, WILL HAMPER THE FRICTION MODIFIER ADDITIVES MARKET
Over the next ten years, it seems likely that shifting trends toward the electrification of road passenger transport will become increasingly significant as more countries implement laws to reduce carbon, particulate, and other emissions.
According to the study, the recent Paris Agreement signing, rising air quality concerns, and the diesel emissions crisis have all led to curbs on diesel or fossil fuel use. France will likewise restrict all gasoline and diesel vehicles by 2040, while Athens, Madrid, and Mexico City have stated their intentions to ban all diesel cars and vans by 2025.
For instance, Volvo has stated that it will no longer manufacture new diesel engines after 2019. Electric vehicles driven by batteries would dramatically reduce the need for motor oil, hurting the economy.
GROWING ADOPTION OF DUAL-CLUTCH TRANSMISSIONS, A PASSENGER CAR IS EXPECTED TO SERVE MAJOR GROWTH OPPORTUNITIES TO THE MARKET OF FRICTION MODIFIER ADDITIVES
The market for friction modifier additives is anticipated to experience significant expansion due to the increasing usage of dual-clutch transmissions, which are used in passenger cars that are popular in Western Europe, China, and the United States. These compounds give the dual-clutch complex frictional qualities. It also guarantees coordinated performance and protects the gear components. Therefore, increased use of friction modifier chemicals in dual-clutch transmissions is anticipated to fuel market expansion.
It is anticipated that the market will experience tremendous growth due to the rising demand for optimized fuel efficiency to lower friction in a thin layer and mixed lubrication conditions. Shear thinning is a feature that friction modifier additives provide, helping to increase fuel efficiency. Shear-thinning has financial advantages, particularly in diverse lubrication operations. Consequently, the rising need for optimized fuel economy will favor the market growth
Market Segments Covered in Report
By Product Type:
By Region and Country:
Which is the most common application of friction modifier additives?
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Producing friction modifier additives with improved anti-wear and anti-oxidation qualities that can drastically cut fuel consumption and CO2 emissions is a focus for some major market players. Additionally, they are expanding their range of products by incorporating metal-free additives, which may be used to create high-quality solutions for various applications.
The recent developments in the Global Friction Modifier Additives Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|