|Driveline Additives Market by Vehicle (Passenger Vehicles, Commercials Vehicles, and Off-highway Vehicles), Product (Transmission Fluid Additives, Gear Oil Additives, and Others), and Additive (Dispersants, Viscosity Index Improvers, Detergents, Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, and Others) – Global Opportunity Analysis and Industry Forecast, 2017-2023|
|Driveline additives are primarily designed for products such as transmission fluids, gear oils, and axle fluids for effective and smooth functioning of rotating equipment. It is applied to regulate the operating temperature in transmission and reduce the impact of abrasion and weathering in rotating motor parts. Moreover, driveline additives are designed and formulated to meet the specifications for quality, base stock compatibility, and cost efficiency.
The global rise in the demand for automobiles has majorly fueled the growth of the driveline additives market, which is likely to grow in demand owing to the rise in consumer awareness about fuel efficiency coupled with variations in transmission design. In addition, stringent environmental norms have triggered driveline additive manufacturers to formulate products under original equipment manufacturers (OEMs) specifications. The demand for transmission fluids has witnessed major traction owing to the increase in efficiency coupled with more reliable transmission. The demand for gear oil additives is expected to gain pace owing to the increase in agricultural and automotive applications.
The growing demand for passenger cars has resulted in the increase in demand for driveline additives, whereas the growing demand for off-highway vehicles such as road rollers and tractors is expected to catapult the demand for driveline additives. Increase in building and construction has significantly improved the market for driveline additives and the market is expected to show rapid advancement in the agriculture and automotive industries. Restriction in export and import trading coupled with fluctuation in additives price have hampered the market growth. However, R&D in vehicle functionality to improve oil efficiency is expected to drive the market.
Countries in the Asia Pacific region such as China, Japan, and India have shown rapid advancement in the driveline additives market owing to the increase in automobiles under passenger and commercial application. In addition, growth in agricultural activities is also expected to broaden the scope of driveline additives in these regions. North America and Europe are considered as the mature markets for driveline additives.
The report on the global driveline additives market is segmented based on type, application, end user, and geography. Based on type, the report includes transmission fluids, farm tractor fluids, gear oil additives, and others. Based on application, the report includes passenger cars, commercial vehicles, and off-highway vehicles. Based on end user, the market is bifurcated into construction, mining, agriculture, automotive, commercial transmission, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in the global driveline additives market include Lubrizol Corporation, Afton Chemicals Corporation, BRB International, BASF SE, Chevron Oronite Company, Vanderbilt Chemicals, Infenium International Ltd, and Lubrillic.
This report entails the detailed quantitative analysis of current market and estimations from 2014 to 2022 that assist in identifying the prevailing market opportunities to capitalize on the global driveline additives market.
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KEY MARKET SEGMENTS
By Type of Vehicles
By End User
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