Friction Modifiers Market Growing Rapidly Huge Growth by 2031- Lubrizol Corporation, Afton Chemical Corporation, BASF SE, Croda International Plc

The Global Friction Modifiers Market Market is expected to grow at a high CAGR during the forecast period 2024-2031.

Friction modifiers, essential additives in industrial and automotive oils, minimize friction between metal surfaces and enhance machine efficiency by preventing direct contact between solid surfaces. These modifiers play a key role in improving fuel economy, equipment longevity, and overall efficiency, particularly in boundary lubrication. They are commonly used in lube oils for internal combustion engines and transmissions. Derived from petrochemical byproducts like solvents and mineral oils, friction modifiers are available in organic and inorganic forms and are applied in both industrial and transportation lubricants.

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Keyword Development:

• On August 30, 2022, BASF opened a new production facility in Shanghai, China, to meet the growing demand for fuel performance additives in Asia. The facility enhances BASF's regional manufacturing presence, providing increased supply security and flexibility. Integrated into BASF's global network, the facility produces KEROPUR, a well-known multifunctional additive that improves engine cleanliness, boosts fuel efficiency, and reduces emissions. With the rising demand for cleaner, more efficient products, the fuel additives market in Asia is expected to grow at a compound annual growth rate of over 4% through 2032.

Market Dynamics:

The increasing use of novel organic polymeric friction modifiers is driving demand in the market. These advanced modifiers combine the properties of traditional ones into a larger, more efficient molecule. They significantly reduce friction coefficients in lubricants beyond the capabilities of conventional modifiers. Additionally, they offer excellent film-forming qualities, reducing wear and enhancing durability. Their improved oxidative stability and effectiveness at low concentrations (0.1% to 0.5%) further contribute to the growing market adoption and demand.

Market Segment:

By Type: Organic Friction Modifiers, Inorganic Friction Modifiers

By Application: Transportation Lubricants, Industrial Lubricants

By Formulation: Water Based, Fatty Acid Based, Others

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Major Key Players:

• Lubrizol Corporation
• Afton Chemical Corporation
• BASF SE
• Croda International Plc
• Chemtura Corporation
• Chevron Oronite Company LLC
• Iinfineum International Limited
• Kings Industries, Inc.
• BRB International BV
• Vanderbilt Chemicals, LLC

*Note:

Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

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