About Friction Modifiers
Friction modifiers also called as boundary lubrication additives. Friction modifiers are polar molecules. They are added to lubricants which further reduces friction during surface contact. It is mainly added to minimize light surface contacts which occurs in machine design. This additives modifies coefficient of friction. Thus, it is mainly used in automotive, marine and aerospace industries during machine and wide range of vehicle manufacturing.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
The market of friction modifiers is expected to grow with increasing demand for automotive and aerospace industry. Several companies are operating in the market to provide friction modifiers with their unique feature. The market is highly fragmented with the presence of several market players. In addition, many local vendors are providing their broad product portfolio which in turn increasing competitive rivalry. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Friction Modifiers market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF (Germany), Lanxess (United States), Chevron Oronite (United States), Croda (United Kingdom), Brb International (Netherlands), Whitmore Manufacturing, Llc. (United States), Lubrizol (United States), Chempoint (United States) and Twin Specialties Corp. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hyundai Oilbank Co.,Ltd. (South Korea), Petromin Corporation (Uae) and Abitec (United States).
Segmentation Overview
AMA Research has segmented the market of Global Friction Modifiers market by , Application (Transportation Lubricant, Industrial Lubricants {Automotive, Marine, Aerospace} and Consumer Goods) and Region.
On the basis of geography, the market of Friction Modifiers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Nature, the sub-segment i.e. Organic will boost the Friction Modifiers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging Type, the sub-segment i.e. Pails will boost the Friction Modifiers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Formulation, the sub-segment i.e. Solvent Based will boost the Friction Modifiers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for Organic Friction Lubricants has been Raised
Market Growth Drivers:
Rising Production of Passenger, Commercial Vehicle & Aircrafts Leads to the demand for Friction Modifiers and Growing Expenditure of Marine, Aerospace and Automotive Industry
Challenges:
Rising Popularity of Electric Vehicles
Restraints:
Fluctuation in Base Material Availability
Opportunities:
Increasing Technological Advancements and Augmenting Automotive and Consumer Goods Industry in Asia Pacific Region has Created Growth Opportunities
Market Leaders and their expansionary development strategies
In
In April 2019, LANXESS has launched “Additin RC 3502”. It is a new organic friction modifiers for passenger car and high-performance engine oils. It has been specifically developed to decrease friction. It is able to provide sustained performance and anti-wear protection. With this launch, company has proven its unique portfolio.
Key Target Audience
Friction Modifiers Manufacturers, Friction Modifiers Suppliers/Distributors, Components Suppliers, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.