Friction Modifiers Additives are additives used in engine oil to reduce friction and emissions and among these MoDTC is expected to grow at a faster rate in the inorganic segment. Organic segment is expected to expand at a higher rate in comparison to the inorganic segment in terms of volume. The global Friction Modifier Additives Market was valued at around US$ 1,236.5 Mn in 2016, and is expected to register a CAGR of 4.0% over the forecast period (2017–2027).
Factors influencing the global Friction Modifier Additives Market growth
An increase in investment of individuals towards maintenance of their vehicles is expected to drive the Friction Modifier Additives Market during the forecasted period. Manufacturers are expanding their manufacturing capacities in emerging regions like Asia Pacific and this is expected to have a positive effect on the growth of the Friction Modifier Additives Market.
Cheaper substitutes of friction modifier additives, such as dispersant additives, detergent additives, extreme pressure, oxidation and corrosion inhibitor anti-wear agents and oiliness agents that are easily available for different lubricant applications are expected to restrain the growth of the Friction Modifier Additives Market. Also, the decline in oil prices since the second half of 2014 is anticipated to have a negative impact on prices of base oil and friction modifier additives.
Major players involved in the Friction Modifier Additives Market lay emphasis on acquisitions, partnerships, collaborations and expansions in order to enhance their operational efficiency. Also, strategic collaboration and joint venture is expected to improve their sales and distribution network. Industry players, over the recent past, have been channelising efforts towards innovative product development.
Global Friction Modifier Additives Market: Segmentation and Forecast
The global Friction Modifier Additives Market is segmented on the basis of Product Type, Application and Region. On the basis of Product Type, the global Friction Modifier Additives Market is segmented into Organic and Inorganic. On the basis of Organic Product type, the global Friction Modifier Additives Market is segmented into Polymers, Fatty Acids and Esters & Amides.
On the basis of Inorganic Product Type, the Friction Modifier Additives Market is segmented into MoDTC, MoS2 and Graphite. On the basis of Application, the global Friction Modifier Additives Market is segmented into Automotive Lubricants, Industrial Lubricants, Aviation Lubricants, Rail Lubricants and Power Generation Lubricants. Key regions covered in the report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
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Global Friction Modifier Additives Market Analysis, by Region
From a regional perspective, the Friction Modifier Additives Market in Asia Pacific excluding Japan (APEJ) is projected to witness a relatively faster growth rate over the forecast period. Asia Pacific is estimated to account for a share of more than 30% in the overall market value by 2027 end. The market in APEJ is expected to register a CAGR of 4.2 % in terms of value over the forecast period.
The Friction Modifier Additives Market in North America is expected to reach US$ 453.4 Mn by the end of 2027, increasing at a CAGR of 4.1% over the forecast period. Market growth rate in North America and Western Europe is expected to remain relatively higher as compared to the global average between 2017 and 2027.
- Fatty Acids
- Esters & Amides
- Automotive Lubricants
- Industrial Lubricants
- Aviation Lubricants
- Rail Lubricants
- Power Generation Lubricants
- North America
- Asia Pacific Excl. Japan (APEJ)
- Western Europe
- Eastern Europe
- Latin America
- Middle East and Africa (MEA)