The friction modifiers are lubricant additives that are added to the lubricants in order to reduce any friction and wear between rubbing metal surfaces. Friction modifiers work by forming an easily shearable film on metal surfaces. Friction modifiers serve various purposes based on the application. For instance, friction modifiers in a combustion engine are used to lower the amount of friction to enhance fuel economy. On the other hand, in automatic transmission and industrial applications, the aim is to reduce slippage besides controlling friction and maximizing efficiency.
MARKET DYNAMICS
The friction modifiers market is anticipated to grow in the forecast period owing to driving factors such as booming automotive industry and vehicle parc in the developing nations coupled with increasing demand for fuel-efficient lubricants. However, rising demand for alternative fuels has a negative influence on the growth of the friction modifiers market. Nonetheless, advancement in friction modifier additive technologies and stringent environment regulations offer lucrative opportunities for the major players operating in the friction modifiers market during the forecast period.
MARKET SCOPE
The "Global Friction Modifiers Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of friction modifiers market with detailed market segmentation by type, application, and geography. The global friction modifiers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading friction modifiers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global friction modifiers market is segmented on the basis of type and application. Based on type, the market is segmented as organic and inorganic. On the basis of the application, the market is segmented as transportation lubricants and industrial lubricants.
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REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global friction modifiers market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The friction modifiers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting friction modifiers market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the friction modifiers market in these regions.
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MARKET PLAYERSThe reports cover key developments in the friction modifiers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from friction modifiers market are anticipated to lucrative growth opportunities in the future with the rising demand for friction modifiers in the global market. Below mentioned is the list of few companies engaged in the friction modifiers market.
The report also includes the profiles of key friction modifiers companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
-Afton Chemical Corporation
-BASF SE
-BRB International BV
-Chevron Corporation
-Croda International Plc
-CSW Industrials Inc.
-Infineum International Limited
-King Industries, Inc
-Lubrizol Corporation
-Vanderbilt Chemicals, LLC
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