- Toll Free: +1-800-792-5285
- (UK): +44-845-528-1300
- Int'l: +1-503-894-6022
- Help@alliedmarketresearch.com
Cart
|
MA_171967
|
Pages: 215
|
May 2017 | 2667 Views
|
|
|
|
Author's :
Yash Doshi
|
Tables: 126
|
Charts: 33
|
Formats*: |
|
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
Get more information on this report : Request Sample Pages
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 (%)
Get more information on this report : Request Sample Pages
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
Get more information on this report : Request Sample Pages
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)
Get more information on this report : Request Sample Pages
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
Viscosity of automotive lubricant tend to decrease with rise in operating temperatures. At elevated temperatures, the liquid becomes increasingly thin, providing a lower level of protection to the equipment. Conversely, at lower temperatures the fluid thickens and the increased viscosity of the lubricant reduces the efficiency of the equipment. Thus, for operation across wider temperature ranges, a multigrade fluid engineered is required for a more balanced viscosity profile. To achieve the required performance, multigrade fluids need additional additive components. For example, depending on the extent of cold-temperature operation, multigrade lubricants requires a pour point depressant, and in the most cases, additional viscosity modifier. Thus, driveline additives play a vital role in equipment maintenance and vehicle fuel economy. In 2016, the passenger vehicles segment accounted for two-thirds share of the global market, and is expected to witness a healthy growth rate, registering a CAGR of 5.0% during the forecast period.
The antioxidants and emulsifiers segments are expected to witness the highest growth rate, registering a CAGR of 6.0% and 5.7%, respectively, during the forecast period. However, in 2016, the dispersant segment accounted for a major share in the global driveline additives market and the trend is expected to continue throughout the forecast period. Dispersants help in preventing sludge, varnish, and other deposits on critical surfaces, such as gears.
Asia-Pacific is the most significant market for driveline additives, in terms of both revenue and volume. China dominated the Asia-Pacific driveline additives market in 2016, in terms of both value and volume. Asia-Pacific is expected to show excellent growth on account of rapid growth in automotive industry and rise in consumer inclination toward enhancing fuel efficiency of vehicles. Furthermore, supportive government policies in countries, such as China and India, and heavy inflow of foreign investments in automotive sector are anticipated to boost the market for driveline additives in the near future.
Enterprise
License/PDF
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high level data integrity, accurate analysis and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
