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What's Driving The Driveline Additives Market Growth? | BRB International, BASF, Vanderbilt Chemicals, The Lubrizol Corporation, Afton Chemical, Infineum International Limited, Chevron Oronite Company, Lubrilic, Evonik, AB Petrochem, DowDuPont, VPS Lubric

06-24-2019 01:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Driveline Additives Market

Driveline Additives Market

The study on the global Driveline Additives Market evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market significantly. The expansion in the various related industry is also expected to reflect positively on the sales of the product over the next few years.

Driveline Additives Market size is likely to experience growth with a prominent CAGR over the forecast timeframe, 2018 - 2025. Driveline additives industry is anticipated to witness a highest CAGR compared to traditional lubricants. This can be attributed to the various benefits offered by these additives in formulation of automatic transmission fluids, gear oils and in off-road application fluids.

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Increasing consumer preference towards fuel-efficient vehicles and rising on-road and off-road applications are the factors driving the global driveline additives market. Moreover, rise in the number of vehicles manufactured annually, need for longer service drain intervals for axle fluids, transmission fluids are anticipated to increase the product demand in near future. Booming trend of using more numbers of gears in manual transmission has been fueling the driveline additives industry from last few years.

The driveline additives market is changing constantly due to the continuing evolution in driveline industry. Developments in the industry such as emission legislations, increased vehicle production and globalization have significant impact on the driveline additives industry. This is likely to provide the new opportunities for driveline additives industry in coming years.

The driveline additives market can be segmented based on product, application, additive type and region. In terms of product the market can be divided into transmission fluid additives, gear oil additives and others. Transmission fluids additives segment led the driveline additives industry in 2017 due to its high wear resistance and frictional properties. Transmission fluid additives are likely to have a major market share and highest CAGR over the forecast period. Gear oil additives segment accounted for prominent market share in past few years.

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Based on application the market is segmented into passenger vehicles, commercial vehicles and off-highway vehicles. Passenger vehicles and off-highway vehicles segments seem to be lucrative for investment in the driveline additives market. Based on additives the market can be classified into dispersants, viscosity index improvers, anti-wear agents, detergents, corrosion inhibitors, friction modifiers, emulsifiers, antioxidants and others.
In terms of product consumption Asia Pacific led the global driveline additives market in 2017.

This can be attributed to the growing automobile industry in emerging economies include China, India, Vietnam, Philippines and Indonesia. Moreover, consumer’s increasing disposable income in the region have increased their expenditure on the vehicles due to which product demand has increased drastically in last few years.

Many multinational giants and medium-scale companies are operating in the industry. Key players operating in the industry incudes BRB International, BASF SE, Vanderbilt Chemicals, The Lubrizol Corporation, Afton Chemical, LLC., Infineum International Limited, Chevron Oronite Company LLC., Lubrilic, Evonik Industries, AB Petrochem, DowDuPont and VPS Lubricants.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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