The global driveline additive market, currently valued at USD 9.3 billion in 2023, is projected to grow to USD 15.2 billion by 2033, registering a steady CAGR of 5.1% during the forecast period. This market is expected to outpace conventional lubricant additives due to the expanding use of driveline additives in both on- and off-road applications.
The increasing demand for driveline additives in off-road sectors such as agriculture, construction, mining, and forestry is a significant growth driver. Additionally, Original Equipment Manufacturer (OEM) requirements for extended drain intervals, enhanced fuel efficiency, and improved temperature stability will further stimulate market expansion.
Engine oil additives are gaining prominence in passenger vehicles, as they contribute to reducing emissions, enhancing engine longevity, and improving fuel economy—all factors that boost market demand. Furthermore, growing environmental awareness and regulations supporting eco-friendly lubricants are expected to promote the development and adoption of sustainable driveline additives.
The rise in urbanization and industrialization in emerging economies is also driving the demand for transportation and industrial machinery, creating lucrative opportunities for the driveline additives market.
Key Takeaways:
- From 2018 to 2022, the driveline additive market grew at a 4.0% CAGR.
- The transmission fluid additives segment is anticipated to dominate, holding 59% of the market during the forecast period.
- The UK driveline additive market is expected to grow at a 4.9% CAGR from 2023 to 2033.
- In the US, the market will expand at a 5.0% CAGR during the same period.
- China’s market is projected to grow at a value CAGR of 4.8% between 2023 and 2033.
- India’s driveline additives market is expected to record a 4.5% CAGR by 2033.
Competitive Landscape:
The global driveline additives market is highly consolidated, with tier-1 companies holding nearly 50% of the market share. Key industry players include The Lubrizol Corporation, BASF SE, and Chevron Oronite Company, LLC. These companies are focused on strategic expansions, collaborations, and innovation to gain market share. Additionally, they are investing in new manufacturing facilities and expanding their presence in emerging markets to strengthen their global footprint.
Key Companies Profiled
- Lubrizol Corporation
- Chevron Oronite Company, LLC
- BRB International BV
- Vanderbilt Chemicals, LLC
- Infineum International Limited
- Afton Chemical
- Lubrilic Corporation
- BASF SE
- Evonik Industries AG
- The Lubrizol Corporation
Market Segmentation
By Product Type:
- Transmission Fluid Additive
- Gear Oil Additive
By Application:
- Passenger Cars
- Commercial Vehicles
- Off-Highway Vehicles
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/driveline-additives-market
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