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