Friction modifiers are added to lubricants in order to reduce friction and wear in machine components. They are particularly important in the boundary lubrication regime, where they can prevent solid surfaces from coming into direct contact, substantially reducing friction and wear.
Market Analysis and Insights: Global Friction Modifiers Market
Due to the COVID-19 pandemic, the global Friction Modifiers market size is estimated to be worth US$ 43 million in 2022 and is forecast to a readjusted size of US$ 54 million by 2028 with a CAGR of 4.1% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Organic Modifiers accounting for % of the Friction Modifiers global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Transportation Lubricants segment is altered to an % CAGR throughout this forecast period.
The Asia Pacific region is the largest market for friction modifiers and is expected to continue leading the market till 2022. The growth of the Asia Pacific friction modifiers market can be attributed to the recognition of countries such as China, Japan, South Korea, and India as automotive hubs.
Global Friction Modifiers Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Friction Modifiers Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Organic Modifiers
Inorganic Modifiers
Others
Segment by Application
Transportation Lubricants
Industrial Lubricants
By Company
Lubrizol
Afton Chemical
Infineum
Chevron Oronite Company
Croda
BASF
Lanxess
Kings Industries
BRB International
Vanderbilt Chemicals
CSW Industrials
Abitec
Wynn’s
Adeka
Archoil
Multisol
PMC Biogenix
Nyco
Akzonobel
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina