Driveline Additives Market to Receive Overwhelming Hike USD 12.26 Billion in Revenues by 2029

According to FMI’s recent market study, the Driveline additives market is projected to exhibit a CAGR of over 4.5% and reach US$ 12,260.5 Mn by the end of the forecast period (2022-2029).

Driveline additives are designed to optimize automotive performance and help reduce energy loss. Driveline additives help ensure smooth functioning of the drivetrain, and, in turn, enhance hardware life. Extended hardware durability translates directly into increased profitability and returns on investment for everyone in the supply chain.

Employment of stringent emission guidelines around the world and constant requirements for hardware durability are projected to create substantial opportunities for key market players.

“Several driveline additive companies are expanding their footprint in APEJ to benefit from low-cost structures and rising local demand in the automotive industry.”

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Key Takeaways of Driveline Additives Market Study

  • The transmission fluid additives segment is witnessing high growth in the global driveline additives market. The rising focus of OEMs on fuel efficiency, along with the growing adoption of innovative technologies such as dual-clutch technology (DCT), is poised to drive demand for transmission fluid additives over the forecast period.
  • APEJ is estimated to be the largest market for driveline additives by the end of 2029. The growth of the APEJ market is mainly attributed to rapid industrialization in the region.
  • One of the major and emerging trends in the global driveline additives market is the development of high-efficiency and environmentally sustainable (biodegradable oil/additives) additives at a low cost.

Driveline Additives Market: Competitive Landscape

The global driveline additives market is estimated to be highly consolidated, with tier-1 players accounting for nearly half of the market share. Some of the key market players included in the report are The Lubrizol Corporation, BASF SE, and Chevron Oronite Company, LLC, among others.

Manufacturers are striving to gain additional market share in the driveline additives market using strategic expansions, collaborations, and product innovation. In addition, key players are currently focused on investing in new manufacturing facilities and expanding their existing ones in emerging markets to strengthen their market position across the globe.

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Driveline Additives Markey by Category

By Product Type:

  • Transmission Fluid Additives
  • Gear Oil Additives

By Application:

  • Passenger Cars
  • Commercial Vehicles
  • Off-Highway Vehicles

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • Middle East & Africa

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Find More Valuable Insights on Driveline Additives Market

FMI, in its new research report, offers an unbiased analysis of the global driveline additives market, presenting historical demand data (2014-2021) and forecast statistics for the period of 2022-2029. The study reveals insights into the driveline additives market and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the driveline additives market value chain.

Readers can also find key trends and market growth scenarios based on end-use industries and regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA.

Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain

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Coating Additives Market: The global coating additives market was valued at around US$ 10,613.3 Mn in 2021 and is anticipated to reach US$ 17,724.8 Mn by 2032. Sales in the global coating devices market are witnessing a surge at a CAGR of 4.8% between 2022 and 2032.

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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