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Growth in Automotive Industry Anticipated to Drive Global Friction Modifier Market: Ken Research

Friction modifier is polar molecules which are added to lubricants to reduce the light surface contacts for instance sliding and rolling of a machine design. They are also known as boundary lubrication additives. They work by forming an easily shearable film on metal surfaces. They serve various purposes based on the application. They are used in combustion engines to lower the amount of friction to enhance fuel economy. They are also used in automatic transmission and industrial applications to reduce slippage besides controlling friction & maximizing efficiency.  They are classifies in two types: organic and inorganic friction modifiers.

According to study, “Global Friction Modifier Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global friction modifier market are Lubrizol Corporation, Chevron Oronite Company LLC, Afton Chemical Corporation, Croda International PLC, BASF SE, Infineum International Limited, PMC Biogenix, Inc., Chemtura Corporation, BRB International BV, Kings Industries, Inc., Vanderbilt Chemicals, LLC, Abitec Corporation, Wynn’s, Adeka Corporation, Nyco SA, Dog Deutsche Oelfabrik Gesellschaft Für Chemische Erzeugnisse Mbh & Co. Kg, Akzonobel N.V., CSW Industrials Inc., Archoil, Multisol Ltd. Key manufacturers are increasing their manufacturing capacities in emerging regions like Asia-Pacific and this is anticipated to have a positive effect on the growth of the friction modifier additives market.

Based on type, friction modifier market is segmented into organic friction modifiers and inorganic friction modifiers. Organic friction modifiers include esters & amides, fatty acids, and functional polymers. Inorganic friction modifiers include molybdenum compounds and nanoparticles (metal oxides, graphite). Organic friction modifiers segment holds major share in market owing to its versatility and environment-friendly properties. Based on function, market is segmented into slippage reduction, friction reduction, and others. Based on distribution channel, market is segmented into online sales channel and offline sales channel. In addition, based on application, market is segmented into industrial lubricants and transportation lubricants. Transportation lubricant includes passenger vehicle lubricants, commercial vehicle lubricants, marine lubricants and aviation lubricants.

The friction modifier market is driven by high growth in automotive industry, followed by rise in advancement in the transportation industry across the globe and increase in demand for fuel efficient lubricants. However, high cost of production and shift in trend toward the usage of alternative fuel sources may impact the market. Moreover, growth in development in friction modifier additive technologies and rise in number of stringent environmental regulations are key opportunities for market. Furthermore, high demand of inorganic friction modifier due to its cheap price is a major trend for market.

Based on geography, the Asian-Pacific region dominates the friction modifier market owing to rise in maintenance awareness of vehicles in consumers and rapid industrialization & increase in disposable income in the region. Whereas, the North-American and European regions are estimated to exhibit higher CAGR due to growth in vehicle & automotive industry and presence of key manufacturers over the forecast period. In upcoming years, it is predicted that future of the market will be bright as a result of increase in investment of individuals towards maintenance of their vehicles and rise in government awareness regarding the green environmental policies & raw material availability during the forecast period.

For More Information on the research report, refer to below link:-

Global Friction Modifier Market

Related Report:-

Friction Modifiers Market (Organic and Inorganic) for Transportation Lubricants (Commercial Vehicle, Passenger Vehicle, Aviation and Marine), and Industrial Lubricants Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023

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