Driveline Additives Market Overview:
Global Driveline Additives Market was valued at $4,296 million in 2016, and is anticipated to reach $6,097 million by 2023 growing at a CAGR of 5.2% from 2017 to 2023. Driveline additives accounted for approximately 30% share in the global lubricant additives market volume, in 2016. The industry is expected to expand at a higher growth rate as compared to the conventional lubricant additives. This is attributed to the global growth in automobile industry in the developing regions and various benefits offered by these additives in the formulation of gear oils, automatic transmission fluids, and in fluids for off-road applications.
Proper understanding of both the equipment and the properties of the base fluid and additive package are essential for achieving optimal lubrication. The additive added to the gear oil or transmission fluid formulation reduces friction and removes heat. Extreme pressure anti-wear additives are used to prevent spalling, wear, scoring, pitting, scuffing, and other types of distress, which could result in equipment failure and downtime. Protection against thermal degradation, oxidation, copper corrosion, rust, and foaming is provided by using driveline additive packages.
The global driveline additives market is driven by rise in the number of vehicles manufactured annually, increase in on-road and off-road vehicle parc, need for longer service drain intervals for transmission fluids and axle fluids, on-going trend of using more numbers of gears in manual transmissions, and surge in consumer inclination toward enhancing fuel efficiency of vehicles. In addition, implementation of stringent emission norms globally, and continuing requirement for hardware durability are expected to fuel demand for driveline additives in the near future.
The report emphasizes on the different type of additives in the market, which include dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. Based on vehicle, the market is classified into passenger vehicles, commercial vehicles, and off-highway vehicles. On the basis of product, it is categorized into transmission fluid additives, gear oil additives, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In addition, the report highlights various factors that impact the market growth, such as key drivers, restraints, growth opportunities, and the role of key players. It presents the quantitative data, in terms of both value and volume, which are obtained from secondary sources, such as company publications, Factiva, Hoovers, OneSource, and others.
Global Driveline Additives Market Segmentation
Collaborations among automotive original equipment manufacturers (OEMs), lubricant & additive suppliers, growth in investments in the developing regions, and continuous R&D initiatives to improve additives efficiency are expected to provide lucrative opportunities for the players operating in the global driveline additives market.
Driveline Additives Market Share, By Geography, 2016 (%)
Top Investment Pockets
Off-highway vehicles and passenger vehicles segments are lucrative sectors for investment in the market, followed by the commercial vehicles segment. Driveline additives are used to lubricate transmissions, axle differentials, final drives, and wet brakes used in heavy duty off-highway equipment. Their unique performance characteristics make these lubricants ideal for use in high-pressure hydraulic systems, construction, mining, and forestry equipment.
Top Investment Pocket, By Vehicle Type
Asia-Pacific Driveline Additives Market Analysis
In 2016, Asia-Pacific dominated the global driveline additives market, in terms of both value and volume. Moreover, Asia-Pacific is expected to witness the highest growth rate from 2017 to 2023, owing to the rapid growth in automobile industry in countries, such as China, India, Indonesia, Iran, Philippines, and Vietnam. In addition, stringent government regulations pertaining to volatile organic content (VOC) emissions from automobiles in countries, such as China & India, are expected to boost the Asia-Pacific driveline additives market.
China Driveline Additives Market Growth, 2016-2023 ($Million)
The key players profiled in the report are BRB International B.V., The Lubrizol Corporation, Vanderbilt Chemicals, LLC., Infineum International Ltd., Afton Chemical Corporation, BASF SE, Chevron Oronite Company, LLC., Lubrilic Corporation, AB Petrochem Pvt. Ltd., and Evonik Industries.
The other major players (not profiled in report) in the market include International Petroleum and Additives Company Inc., VPS Lubricants, and Petroleum Chemicals, LLC.
Key Market Benefits
- This report provides an extensive analysis of the current and emerging market trends & dynamics of the global driveline additives market.
- The driveline additives market trend analysis for all the regions is done by constructing estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
- The report assists to understand the strategies adopted by the leading companies in the industry.
- This study evaluates competitive landscape of the driveline additives industry to understand the global market scenario.
- Extensive analysis is conducted by key player positioning and monitoring the top competitors in the global market.
Driveline Additives Market Key Segmentation:
- Passenger Vehicles
- Commercial Vehicles
- Off-highway Vehicles
- Transmission Fluid Additives
- Gear Oil Additives
- Viscosity Index Improvers
- Anti-wear Agents
- Corrosion Inhibitors
- Friction Modifiers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA