Friction Modifier Additives Market - Forecast(2024 - 2030)
Friction Modifier Additives Market Overview
The Friction Modifier Additives Market is estimated to grow
at a CAGR of 3.8% in
COVID-19 Impact
During the COVID-19 pandemic, many industries had suffered a
tumultuous time, and it was no different for the Friction Modifier Additives
Market. Many governments across the globe implemented lockdown regulations and
factories & production facilities in many sectors came to a halt. The
supply chain was greatly disrupted as many businesses followed the lockdown
protocols. The primary end-use industries of friction modifier additives are
the automotive, aerospace, and industrial sectors and both sectors were
negatively impacted during the pandemic. According to the Organisation
Internationale des Constructeurs d’Automobiles (OICA), the production of
passenger vehicles decreased by 16.9% from 2019 to 2020. According to the
International Air Transport Association, the demand for passenger air travel
fell by 65% from 2019 to 2020 with international travel decreasing by 75.6%
since 2019. However, the industry is recovering as the world governments are
relaxing lockdown protocols as the public is being vaccinated and cases have
decreased. As such, the Friction Modifier Additives Market is projected to grow
within the forecast period of
Friction Modifier Additives Market Report Coverage
The report: “Friction
Modifier Additives Market – Forecast (2022-2027)”, by IndustryARC, covers
an in-depth analysis of the following segments of the Friction Modifier
Additives Market.
Key Takeaways
- The Asia-Pacific region holds the
largest share by region in the Friction Modifier Additives Market within
2022-2027. - Inorganic friction modifier additives
are the most used type of friction modifier additives due to their variety of
applications.
- Friction modifier additives are
mostly used in engine oils and transmission fluids to reduce friction between
surfaces.
- The growth of the automotive industry
is expected to be a great driver for the Friction Modifier Additives Market.
Figure: Asia-Pacific Friction Modifier Additives Market
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Friction Modifier Additives Market Analysis – By Type
The Inorganic type segment holds the largest share of 56% in
the Friction Modifier Additives Market within the forecast period of
Friction Modifier Additives Market Analysis – By End-Use Industry
The Automotive industry holds the largest segment of 48% in the
end-use industry segment of the Friction Modifier Additives Market within the
forecast period of
Friction Modifier Additives Market Analysis – By Geography
Asia-Pacific holds the largest share of 42% in the geography
segment of the Friction Modifier Additives Market within the forecast period of
Friction Modifier Additives Market Drivers
The exponential growth of end-use industries like the Automotive Industry and the Electrical Industry:
As mentioned above, the key end-use industry
of friction modifier additives is in the automotive industry among others. As
such, the growth in this industry proves to be a great driver for the Friction
Modifier Additives Market. According to the Organisation Internationale des
Cosntructeurs d’Automobiles (OICA), the total production of vehicles increased
to 57.3 million in 2021 which was a 9.1% increase from the production values of
2020. According to the European Automobile Manufacturers’ Association, the
European Union (EU) invests around USD $ 70 billion annually for research and
development in the automotive sector. The automotive industry is expected to
grow substantially within the forecast period of
Friction Modifier Additives Market Challenges
Stringent Trade Laws and Regulations can hinder trade for the Market:
The stringent trade laws worldwide
can prove to be a challenge as trade regulations for chemicals have limited the
trade for friction modifier additives as well. For example, Regulation (EU) No
Friction Modifier Additives Industry Outlook
Technology launches, acquisitions, and R&D activities are
key strategies adopted by players in this market. Friction Modifier Additives top 10 companies include:
- Afton
Chemical Corporation
- BASF
SE
- Chemtura
Corporation
- Lubrizol
Corporation
- Multisol
Ltd.
- AkzoNobel
N.V.
- Vanderbilt
Chemicals, LLC
- Chevron
Oronite Company, LLC
- Croda
International plc
- Infineum International Limited
Recent Developments
- On March 20, 2020, Red Line Synthetic Oil, a producer of synthetic lubricants and additives for the automotive industry, announced a partnership with drag racing outfit, Lex Joon Racing, throughout the year 2020. All lubricant and additive support, including friction modifier additives, were provided by Red Line Synthetic Oil.
Relevant Reports
LIST OF TABLES
1.Global Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 ($M)1.1 Fatty Acid Market 2023-2030 ($M) - Global Industry Research
1.2 Ester Amide Market 2023-2030 ($M) - Global Industry Research
1.3 Inorganic Market 2023-2030 ($M) - Global Industry Research
1.3.1 Modtc Market 2023-2030 ($M)
1.3.2 Mos2 Market 2023-2030 ($M)
1.3.3 Graphite Market 2023-2030 ($M)
2.Global Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 (Volume/Units)
2.1 Fatty Acid Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 Ester Amide Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Inorganic Market 2023-2030 (Volume/Units) - Global Industry Research
2.3.1 Modtc Market 2023-2030 (Volume/Units)
2.3.2 Mos2 Market 2023-2030 (Volume/Units)
2.3.3 Graphite Market 2023-2030 (Volume/Units)
3.North America Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 ($M)
3.1 Fatty Acid Market 2023-2030 ($M) - Regional Industry Research
3.2 Ester Amide Market 2023-2030 ($M) - Regional Industry Research
3.3 Inorganic Market 2023-2030 ($M) - Regional Industry Research
3.3.1 Modtc Market 2023-2030 ($M)
3.3.2 Mos2 Market 2023-2030 ($M)
3.3.3 Graphite Market 2023-2030 ($M)
4.South America Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 ($M)
4.1 Fatty Acid Market 2023-2030 ($M) - Regional Industry Research
4.2 Ester Amide Market 2023-2030 ($M) - Regional Industry Research
4.3 Inorganic Market 2023-2030 ($M) - Regional Industry Research
4.3.1 Modtc Market 2023-2030 ($M)
4.3.2 Mos2 Market 2023-2030 ($M)
4.3.3 Graphite Market 2023-2030 ($M)
5.Europe Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 ($M)
5.1 Fatty Acid Market 2023-2030 ($M) - Regional Industry Research
5.2 Ester Amide Market 2023-2030 ($M) - Regional Industry Research
5.3 Inorganic Market 2023-2030 ($M) - Regional Industry Research
5.3.1 Modtc Market 2023-2030 ($M)
5.3.2 Mos2 Market 2023-2030 ($M)
5.3.3 Graphite Market 2023-2030 ($M)
6.APAC Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 ($M)
6.1 Fatty Acid Market 2023-2030 ($M) - Regional Industry Research
6.2 Ester Amide Market 2023-2030 ($M) - Regional Industry Research
6.3 Inorganic Market 2023-2030 ($M) - Regional Industry Research
6.3.1 Modtc Market 2023-2030 ($M)
6.3.2 Mos2 Market 2023-2030 ($M)
6.3.3 Graphite Market 2023-2030 ($M)
7.MENA Friction Modifier Additive Market Analysis And Forecast By Product Type Market 2023-2030 ($M)
7.1 Fatty Acid Market 2023-2030 ($M) - Regional Industry Research
7.2 Ester Amide Market 2023-2030 ($M) - Regional Industry Research
7.3 Inorganic Market 2023-2030 ($M) - Regional Industry Research
7.3.1 Modtc Market 2023-2030 ($M)
7.3.2 Mos2 Market 2023-2030 ($M)
7.3.3 Graphite Market 2023-2030 ($M)
LIST OF FIGURES
1.US Friction Modifier Additives Market Revenue, 2023-2030 ($M)2.Canada Friction Modifier Additives Market Revenue, 2023-2030 ($M)
3.Mexico Friction Modifier Additives Market Revenue, 2023-2030 ($M)
4.Brazil Friction Modifier Additives Market Revenue, 2023-2030 ($M)
5.Argentina Friction Modifier Additives Market Revenue, 2023-2030 ($M)
6.Peru Friction Modifier Additives Market Revenue, 2023-2030 ($M)
7.Colombia Friction Modifier Additives Market Revenue, 2023-2030 ($M)
8.Chile Friction Modifier Additives Market Revenue, 2023-2030 ($M)
9.Rest of South America Friction Modifier Additives Market Revenue, 2023-2030 ($M)
10.UK Friction Modifier Additives Market Revenue, 2023-2030 ($M)
11.Germany Friction Modifier Additives Market Revenue, 2023-2030 ($M)
12.France Friction Modifier Additives Market Revenue, 2023-2030 ($M)
13.Italy Friction Modifier Additives Market Revenue, 2023-2030 ($M)
14.Spain Friction Modifier Additives Market Revenue, 2023-2030 ($M)
15.Rest of Europe Friction Modifier Additives Market Revenue, 2023-2030 ($M)
16.China Friction Modifier Additives Market Revenue, 2023-2030 ($M)
17.India Friction Modifier Additives Market Revenue, 2023-2030 ($M)
18.Japan Friction Modifier Additives Market Revenue, 2023-2030 ($M)
19.South Korea Friction Modifier Additives Market Revenue, 2023-2030 ($M)
20.South Africa Friction Modifier Additives Market Revenue, 2023-2030 ($M)
21.North America Friction Modifier Additives By Application
22.South America Friction Modifier Additives By Application
23.Europe Friction Modifier Additives By Application
24.APAC Friction Modifier Additives By Application
25.MENA Friction Modifier Additives By Application