Friction Modifier Additives Market Size, Share, Demand and Growth by 2033
The historical period from 2018 to 2022 saw moderate expansion in the sales of friction modifier additives globally, with a CAGR of about 3.2%. This growth resulted from friction modifier additives being used more often across various new end-use sectors and industries. Traditionally, friction modifier additives find extensive application in aviation lubricants, aiding in better engine performance and fuel economy. The market could expand at a CAGR of around 4.3% from 2023 to 2033 with the continued spike in demand for friction modifier additives. FMI further anticipates the global market may be rising to a sizeable valuation of US$ 2,464.7 million by 2033 from US$ 1,617.8 million in 2023. These additives have become essential for lowering wear in car engines and gearboxes, which improves fuel economy, reduces pollutants, and lengthens engine life. The demand for friction modifier additives is expected to grow, offering profitable prospects for businesses in the m...