Driveline Additives Market Size, Share, Demand & Trends by 2029
According to FMI’s recent market study, the driveline additives market is projected to exhibit a CAGR of over 4% and reach US$ 12 Billion by the end of forecast period (2022-2029). Employment of stringent emission guidelines around the world and constant requirements of hardware durability are projected to create substantial opportunities for key market players.
Driveline additives are designed to optimize
automotive performance and help reduce energy loss. Driveline
additives help ensure smooth functioning of the drivetrain, and, in turn,
enhance hardware life. Extended hardware durability translates directly into
increased profitability and return on investment for everyone in the supply
chain.
Driveline Additives Market: Competitive
Landscape
The global driveline additives market is estimated to
be highly consolidated, with tier-1 players accounting for nearly half of the
market share. Some of the key market players included in the report are The
Lubrizol Corporation, BASF SE, and Chevron Oronite Company, LLC, among others.
Manufacturers are striving to gain additional market
share in the driveline additives market by means of strategic expansions,
collaborations, and product innovation. Also, key players are currently focused
on investing in new manufacturing facilities and expanding their existing ones
in emerging markets to strengthen their market position across the globe.
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Key Takeaways of Driveline Additives
Market Study
- The
transmission fluid additives segment is witnessing high growth in the
global driveline additives market. Rising focus of OEMs on fuel
efficiency, along with growing adoption of innovative technologies such as
dual clutch technology (DCT), is poised to drive demand for transmission
fluid additives over the forecast period.
- APEJ
is estimated to be the largest market for driveline additives by the end
of 2029. Growth of the APEJ market is mainly attributed to rapid
industrialisation in the region.
- One
of the major and emerging trends in the global driveline additives market
has been found to be the development of high-efficiency and
environmentally-sustainable (biodegradable oil/additives) additives at low
cost.
Find More Valuable Insights on Driveline
Additives Market
FMI, in its new research report, offers an unbiased
analysis of the global driveline additives market, presenting historical demand
data (2014-2021) and forecast statistics for the period of 2022-2029. The study
reveals insights on the driveline additives market, and covers market dynamics,
market share analysis, pricing analysis, and channel partners involved in the
driveline additives market value chain.
Readers can also find key trends and market growth
scenarios based on end-use industry and regions such as North America, Latin
America, Western Europe, Eastern Europe, APEJ, Japan, and MEA.
What was the Impact of COVID-19 Crisis on
Driveline Additives Market?
Impact of the COVID-19 pandemic on the chemicals and
materials industry was significant. Several production facilities were entirely
shut down because of the lockdown, which had a direct impact on sales of
driveline additives. However, the pandemic led to an increase in demand for
driveline additives which help in maintenance of vehicles.The pandemic led to
many vehicles being rendered of less usage.
They were stagnant for months and months in some
households. This made the application of driveline additives like detergents,
dispersants and emulsifiers, and anti-wear additives, quite crucial in order to
protect and safe guard the vehicles.As numerous production facilities have
reopened, the industry is progressively rebounding from losses, resulting in
positive sales prospects in the driveline additives market. Increasing
prospects of transmission fluid additives are also expected to boost demand for
the product in the forthcoming years.
Driveline Additives Market by Category
By Product Type:
- Transmission
Fluid Additives
- Gear
Oil Additives
By Application:
- Passenger
Cars
- Commercial
Vehicles
- Off-Highway
Vehicles
By Region:
- North
America
- Latin
America
- Western
Europe
- Eastern
Europe
- Asia
Pacific Excluding Japan (APEJ)
- Japan
- Middle
East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Background
4. Global Driveline Additives Market
Demand Analysis 2014-2021 and Forecast, 2022-2029
5. Global Driveline Additives Market –
Pricing Analysis
6. Global Driveline Additives Market
Demand (in Value or Size in US$ Mn) Analysis 2014-2021 and Forecast, 2022-2029
to be continued…!
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Full Report: https://www.futuremarketinsights.com/reports/driveline-additives-market
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