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Driveline Additives Market By Product Type, By Vehicle Type, By Additive Type : Global Opportunity Analysis and Industry Forecast, 2021-2031

Driveline Additives Market By Product Type, By Vehicle Type, By Additive Type : Global Opportunity Analysis and Industry Forecast, 2021-2031

  • May 2022
  • 230 pages
  • ID: 6311642
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Driveline Additives Market By Product Type (Transmission Fluid Additives, Gear Oil Additives, Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Off-highway Vehicles), By Additive Type (Dispersants, Viscosity Index Improvers, Detergents, Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global driveline additives market was valued at $7.4 billion in 2021, and is projected to reach $10.7 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
Driveline additives are designed to optimize automotive performance. In order to acquire greatest lubrication, right information of each device and properties of the base fluids and additives is necessary. Additives added to transmission fluid formulations or tool oils decrease friction and eliminate heat. High-strain anti-wear additives are used to prevent equipment failure and downtime caused by scuffing, wearing, spalling, pitting, scoring, and different types of distress. Protection against oxidation, thermal degradation, rust, copper corrosion, and foaming is provided by driveline additives.
The driveline additives market is driven by increase in need for extended service drain breaks for axle fluids &transmission fluids, boom in cars production, rise in client choice toward enhancing fuel performance of cars, and surgein on-road and off-road vehicle. The global driveline additives market is predicted to expand significantly in the near future due to the implementation of stringent emission rules globally and continuous requirement for hardware durability. The automobile industry is driven by the growth in demand for automobiles in growing economies such as China and India. This, in turn, boosts the requirement for finished lubricants, thereby boosting the demand for driveline additives.
The driveline additives market is constantly changing owing to the continuous evolution of the driveline industry. Developments such as increased vehicle production, emissions legislation, and globalization &localization, especially in India, have a significant impact on the industry driveline lubricant needs. However, fluctuation in raw material prices and high cost of driveline additives as compared to conventional additives are expected to hinder the market.
The driveline additives market is segmented into product type, vehicle type, additives type, and region. By product type, the market is categorized into transmission fluid additives, gear oil additives, and others. On the basis of vehicle type, it is fragmented into passenger vehicles, commercial vehicles, and off-highway vehicles. As per additives type, it is classified into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global driveline additives market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include AB Petrochem Pvt. Ltd., Afton Chemical Corporation, BASF SE, BRB International B.V., Chevron Oronite Company, LLC, Evonik Industries AG, International Petroleum & Additives Company, Inc., The Lubrizol Corporation, Vanderbilt Chemicals, LLC, VPS Lubricants.

KEY BENEFITS FOR STAKEHOLDERS
?The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global driveline additivesmarket from 2021 to 2031 to determine the prevailing opportunities.
?A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
?Estimations and forecast are based on factors impacting the market growth in terms of both value and volume.
?Profiles of leading players operating in the market are provided to understand the global competitive scenario.
?The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
IMPACT OF COVID-19 ON DRIVELINE ADDITIVES MARKET
?The COVID-19 pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for driveline additives has witnessed significant decline in all segments. Some regions, particularly, North America and Europe, witnessed greater decline than Asia-Pacific. Amidst the ongoing crisis, driveline additives producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term.
In response to the global coronavirus outbreak, which was responsible for major lifestyle, health, and business changes, the industry for driveline additives suffered a significant blow. This was mainly due to the abrupt closing down of the automotive manufacturing plants. The dearth of labor and components also plummet the sales of vehicles. However, with the gradual resumption of most industrial operations, the product demand is expected to pick up an essential pace.
As a result of the pandemic, many cars were rendered obsolete. In some households, they had been static for months. This necessitated the use of driveline additives such as detergents, dispersants &emulsifiers, and anti-wear additives to maintain and safeguard the cars.
As a result of the reopening of various production facilities, the industry is gradually recovering from losses, resulting in strong sales expectations in the driveline additives market. In the coming years, rising prospects for transmission fluid additives are likely to improve demand for the product.

Key Market Segments

By Vehicle Type
? Passenger Vehicles
? Commercial Vehicles
? Off-highway Vehicles

By Additive Type
? Anti-wear Agents
? Antioxidants
? Corrosion Inhibitors
? Friction Modifiers
? Emulsifiers
? Others
? Dispersants
? Viscosity Index Improvers
? Detergents

By Product Type
? Transmission Fluid Additives
? Gear Oil Additives
? Others

By Region
? North America
? U.S.
? Canada
? Mexico
? Europe
? Germany
? France
? Spain
? U.K.
? Rest of Europe
? Asia-Pacific
? China
? Japan
? South Korea
? India
? Rest of Asia-Pacific
? LAMEA
? Brazil
? South Africa,
? Rest of LAMEA
? Key Market Players
? AB Petrochem Pvt.Ltd.
? Afton Chemical Corporation
? BASF SE
? BRB International B.V.
? Chevron Oronite Company, LLC.
? Evonik Industries AG
? International Petroleum & Additives Company, Inc.
? The Lubrizol Corporation
? Vanderbilt Chemicals, LLC.
? VPS Lubricants

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