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 manufacturing industries. Moreover, these additives have drawn a lot of interest in recent years because of their capacity to increase the effectiveness and performance of lubricants. So, as it lengthens the total operating lifespan of machinery and equipment, the automobile sector is the leading consumer of friction modifier chemicals nowadays.
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With an increase in commercial and freight flights, the aerospace sector is expanding significantly, and the use of friction modifier chemicals is anticipated to increase dramatically. Likewise, the rail transportation sector is another significant contributor to the demand for friction modifier additives as it enhances operational efficiency and minimizes maintenance costs.
Concerns about the environmental effect of the rising usage of friction modifier additives may arise, particularly in light of possible pollution and disposal challenges. The price and availability of the raw materials might vary, which can also affect production costs and, in turn, product pricing.
Key Takeaways from the Global Friction Modifier Additives Market Study Report by FMI
- The sales of friction modifier additives in the United States were higher in comparison to other countries, and in 2022, it captured 15% of the global market share.
- Germany is the leading producer and supplier of friction modifier additives in Europe, with a 6.7% global market share in 2022.
- As a result of their broad use across several sectors, friction modifier additives are enjoying substantial expansion in the Asia Pacific countries. China and India, for instance, are projected to witness CAGRs of 4.8% and 5.1% respectively over the forecast years.
Competitive Landscape for the Friction Modifier Additives Market Players
Adeka, BRB International, Croda, Chevron, Lubrizol, BASF, Afton Chemicals, CSW Industrial, Wynn’s, Dorf Ketal, DOG Chemie, ABITEC, Lanxess are some top market players. Continuous research and development efforts by these leading market players have introduced innovative friction modifier additives with enhanced properties.
The need for sophisticated lubricants with friction modifier additives has increased as a result of the expanding global automobile industry and strict environmental requirements. To fulfill the changing needs of end consumers and gain a competitive edge, new players may take advantage of the innovations made by existing manufacturers. Moreover, they should focus on burgeoning industrialization and expanding automotive and aviation industries in emerging regions to broaden their clientele.
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Friction Modifier Additives Market Segmentation
By Product Type:
- Organic
- Polymer
- Fatty Acids
- Esters & Amides
- Inorganic
- MoDTC
- MoS2
- Graphite
- Other Product Types
By Application:
- Automobile Lubricants
- Industrial Lubricants
- Rail Lubricants
- Aviation Lubricants
- Power Generation Lubricants
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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