The global friction modifiers market is forecast to reach USD 1,195.7 Million by 2028, according to a new report by Reports and Data. The demand for the friction modifiers are propelling in various applications as incorporating these additives help reduce the frictional motions in the machineries and combustion hydraulic engines. The reduction of the frictional losses and through more efficient lubrication the amount of carbon dioxide emissions can be drastically reduced and the efficiency of the automotive vehicles are largely propelled. Other than Automotive segment, the engineering vehicles and the industrial machineries are some of the most lucrative sectors of this market. The organic modifiers are expected to be in high demand due to higher availability and eco-friendliness towards the nature.
The Asia Pacific region, being the global manufacturing hub and high growth in the automotive industry, is forecasted to generate the highest revenue of USD 426.7 Million in the year 2026.
Key participants include Lubrizol Corporation, Croda International PLC, Vanderbilt Chemicals, LLC, BASF SE, Chevron Corporation, F.I.L.A. Group, BRB International BV, Kings Industries, Inc., Afton Chemical Corporation, and LANXESS.
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For the purpose of this report, Reports and Data have segmented the global friction Modifiers market on the basis of the type of modifiers, compound types, applications, and region:
Type of Modifiers Outlook (Revenue, USD Million; 2018-2028)
- Organic Friction Modifiers (OFM)
- Organomolybdenum Friction Modifiers (MoFM)
- Polymer Friction Modifiers (PFM)
- Dispersed Nanoparticles
Compound Types Outlook (Revenue, USD Million; 2018-2028)
Applications Outlook (Revenue, USD Million; 2018-2028)
- Engineering Vehicles
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Further key findings from the report suggest
- Automotive industries are the largest market for the friction modifiers due to maximum possible convenience. Also, the high potential in the automotive market is helping in the growth of the market. The automotive applications had the highest market share of 26.1% in the year 2018 and would continue growing with a rate of 4.0% during the forecast period.
- The lubricants are used in industrial machineries and other equipment in order to lower the frictional forces and increase in efficiency of the machine. The productivity and life cycle of the machines are highly correlated and effected if the frictional forces are high. Machinery segment exhibits a considerable market share. The market share for the same in 2026 is estimated to be 15.3%, having grown at a CAGR of 3.6% in the forecast period.
- Organomolybdenum Friction Modifiers (MoFM) work as antiwear additives and effectively reduce the boundary friction. Molybdenum dithiocarbamates (MoDTCs) and molybdenum dithiophosphates (MoDTPs) are some of instances of this segment. These modifiers are used in the engine and gear oils. The segment had a market revenue of USD 339.3 Million in 2018 and the forecasted CAGR is 4.0% from 2019 to 2026.
- Inorganic frictional modifiers are non-organic substances like sulfur, phosphorus and molybdenum which chemically break down to form products which are able to absorb onto the metal surfaces and form low shear strength between films. The inorganic chemical compounds had a market share of 55.6% in 2018 and the CAGR is calculated as 2.8% in the forecast period.
- APAC, being considered as the global manufacturing hub and immense growth in the automotive industry, is growing with the fastest CAGR of 4.5% throughout the forecast period. China, India, and South Korea are some of the most valuable contributors in this region.
- North America is accounted to achieve a significant market share of 24.9% by 2026, with a CAGR of 4.5% in the forecast period.
- Europe had the second highest market share of about 25.5% in 2018 and would grow at a CAGR of 2.7% during the period 2019 – 2026.
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 – 2028
Chapter 3. Indicative Metrics
Chapter 4. Friction Modifiers Market Segmentation & Impact Analysis
4.1. Friction Modifiers Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. High increasing number of heavy-duty & passenger vehicles
18.104.22.168. The demand for higher efficiency by the industrial equipment
22.214.171.124. Technological advancements in the friction modifiers formulation
4.2.3. Market restraints analysis
126.96.36.199. Revolution with the electric vehicle market
188.8.131.52. Easy availability of cheaper substitutes of friction modifiers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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