Reports and Data estimates the global Friction Modifiers competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2028 as the forecast period. The report offers CAGR and market size for the global Friction Modifiers during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Lubrizol Corporation, Croda International PLC, Vanderbilt Chemicals, LLC, BASF SE, Chevron Corporation, F.I.L.A. Group, BRB International BV, Kings Industries, Inc., Afton Chemical Corporation, and LANXESS.
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Friction Modifiers Overview :-
The global friction modifiers market size was USD 937.7 Million in 2020 and is expected to reach a value of USD 1,195.7 Million by 2028, and register a CAGR of 3.0% during the forecast period. Rapidly increasing production and sales of automobiles is expected to result in higher demand for friction modifiers as lubrication additives in combustion engines. This, coupled with increasing demand for fuel efficient lubricants, stringent regulations regarding fuel economy standards, and constant development of technologically advanced friction modifiers are factors expected to drive market growth. In addition, increasing adoption of friction modifiers in digital printing machines, which involves printing of various types of texts and images, and other digital graphics on a variety of media substrates, is expected to drive market growth to a significant extent.
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For the purpose of this report Reports and Data has segmented global Friction Modifiers market on the basis of type, application, and region:
By Modifier Type Outlook
- Organic Friction Modifiers (OFM)
- Organomolybdenum Friction Modifiers (MoFM)
- Polymer Friction Modifiers (PFM)
- Dispersed Nanoparticles
By Compound Type Outlook
- Organic
- Inorganic
By Application Outlook
- Automotive
- Engineering Vehicles
- Aviation
- Marine
- Railway
- Machinery
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Friction Modifiers during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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