The Worldwide Driveline Additives Industry is Expected to Reach $10.7 Billion by 2031 - ResearchAndMarkets.com

The "Driveline Additives Market By Product Type, By Vehicle Type, By Additive Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

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.

Key Benefits For Stakeholders

• The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global driveline additives market 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.

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

For more information about this report visit https://www.researchandmarkets.com/r/8b0duu

View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005198/en/