Press release
Global Friction Modifiers Market expected to grow USD 1008.4 billion by 2025 - The Lubrizol Corporation, Afton Chemical, Infineum, Chevron, Croda, BASF, ABITEC Corporation
Global Friction Modifiers Market
The Global Friction Modifiers Market is expected to reach USD 1008.4 billion by 2025, from USD 817.3 billion in 2017 growing at a CAGR of 3.6% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition
Friction modifier additives are polar molecules, which are added to lubricants to minimizing the light surface contacts such as sliding and rolling of a machine design. Friction modifiers are also known as boundary lubrication additives. Esters, fatty acids as well as some solid materials such as graphite are used for the friction reduction. The friction modifiers are majorly used in automobile industry. According to an article published recently by trading economics, the sales of vehicles in china grew by 9.6 % in the year 2018 and around 2.29 million units have been sold by the end of the moth may in 2018. This shows that the increase in the production of the automobile around the globe will also increase the need of friction modifiers. Moreover increase in investment of individuals towards maintenance of their vehicles is expected to drive the friction modifier additives market during the forecasted period.
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Frequently Asked Questions?
• What will the market size be in 2025?
• What are the key factors driving the global market?
• What are the challenges to market growth?
• Who are the key players in the market?
• What are the market opportunities and threats faced by the key players?
• What will be the growth rate in 2025?
• Which strategies are used by top players in Global Friction Modifiers Market?
Major Market Drivers & Market Restraint
• Growing automotive industry and vehicle industry
• Increasing demand for fuel-efficient lubricants
• Rising of maintenance awareness of vehicles in consumers.
• Government awareness regarding the green environmental policies and raw material availability
• Rise in demand for alternative fuels
• Rise in use of fully electric vehicle
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Market Segmentation
By Type
• Organic Friction Modifiers
• Inorganic Friction Modifiers
By Application
• Transportation Lubricants
• Industrial Lubricants
• Other
By Geography
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
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Competitive landsacpe
The global friction modifiers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of friction modifiers market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Top Competitors of Market
• Lubrizol Corporation
• Afton Chemical Corporation
• Infineum International Limited
• Chevron Oronite Company LLC
• Croda International PLC
• BASF SE,
• Adeka Corporation,
• Archoil, Multisol Ltd,
• PMC Biogenix, Inc,
• Nyco SA,
• Dog Deutsche Oelfabrik Gesellschaft Für Chemische Erzeugnisse Mbh & Co. Kg,
• Akzonobel N.V
• Chemtura Corporation,
• Kings Industries, Inc.,
• BRB International BV,
• Vanderbilt Chemicals,
• LLC,
• CSW Industrials Inc,
• Abitec Corporation,
• Wynn’s,
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MARKET INTRODUCTION
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Friction material is used in every-day mundane applications such as automotive brakes and clutches to commercial and industrial applications.
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