Friction modifier additives market

Friction Modifier Additives Market By Application(Automotive Lubricant, Industrial Lubricant, Aviation Lubricants, Power Generation Lubricants, Rail Lubricants) By Region (North America, Europe, Asia Pacific, Latin America, Middle East, Africa) -

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Jul 2023
CMI3962
120 Pages
Excel & Pdf
Advanced Materials

Summary

The Friction Modifier Additives market is projected to reach around US$ 2601.9 million by the end of 2030, in terms of revenue, growing at CAGR of 8.1% during the forecast period (2023-2030).

Friction Modifier Additives Market: Growth Driver

The surge in aerospace & defense manufacturing is expected to drive the friction modifier market growth

The aerospace and defense industry demands high-performance lubrication solutions to ensure the efficient and reliable operation of various components and systems. In the aerospace sector, friction modifiers are used in engines, landing gears, actuation systems, and other moving parts to improve their efficiency and reliability. These additives help reduce friction between components, which is particularly crucial in high-speed applications where the minimization of energy loss and heat generation is vital. Aerospace manufacturers can enhance fuel efficiency, reduce maintenance costs, and extend the service life of components, contributing to the overall performance and safety of aircraft. The rise in air traffic demands an increase in aerospace production and parallels boosts the demand for friction modifiers. For instance 2022, according to the Coalition of Airline Pilots Associations (CAPA), Boeing and Airbus delivered 766 commercial aircraft over the first three quarters of 2022.

The rise in the production of automobiles is expected to accelerate the market growth

Friction modifiers are widely used in the automotive industry for lubricating various mechanical systems including engines, transmissions, differentials, and wheel bearings. These additives work by reducing friction and wear between moving parts, improving energy efficiency, and minimizing heat generation. Incorporating friction modifiers into lubricants can help automotive manufacturers to optimize the performance of their vehicles, reduce maintenance costs, and enhance overall reliability. The increase in automotive production due to a rise in consumer demand for fuel-efficient vehicles will boost the demand for friction modifiers. For instance, in 2021, according to European Automobile Manufacturers Association, the global motor vehicle production was 79.1 million in 2021, which was an increase of 1.3% compared to the previous year. According to Society of Motor Manufacturers and Traders, in 2021 over 859,000 cars, 72,913 commercial vehicles, and 1.6 million engines were built in the U.K.

Friction Modifier Additives Market: Restraints

Tendencies that are changing in favor of electrifying road passenger

Shifting trends toward the electrification of road passenger transports are likely to become more significant over the following 10 years as more nations implement policies to lower carbon, particulate, and other emissions.

According to the research, diesel or fossil fuel limits have been brought on by the recent signing of the Paris Agreement, growing air quality concerns, and the diesel emissions crisis. While Athens, Madrid, and Mexico City have declared intentions to outlaw all diesel cars and vans by 2025, France will also outlaw all gasoline and diesel vehicles by 2040.

The change is gaining momentum as Original Equipment Manufacturers (OEMs) disengage from ICEs. Volvo, for instance 2020, has declared that it would stop producing new diesel engines after 2020. Penetration of battery-powered electric vehicles would significantly reduce the demand for vehicle lubricants, which, in turn, will hamper the friction modifier additives market growth.

Friction Modifier Additives Market: Impact of COVID-19

Due to the pandemic, the lubricant industry witnessed a significant impact, considering slowdown in transportation and industrial activities. A number of lubricant companies have postponed the resumption of production owing to lower demand from end users. According to Coherent Market Insights, the demand for lubricants was on lower side in the first half of 2020. Lockdown in several countries around the globe resulted in a severe reduction in the use of passenger cars which has impacted the demand for lubricants. The lower demand for lubricants is expected to impact the friction modifier additives market growth. According to Coherent Market Insights, the friction modifier additives market is expected to grow at a lower CAGR between 2020 and 2021.

Friction Modifier Additives Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2023:	US$ 1508.7 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	8.1%	2030 Value Projection:	US$ 2601.9 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa and Central Africa
Segments covered:	By Application: Automotive Lubricant, Industrial Lubricant, Aviation Lubricants, Power Generation Lubricants, Rail Lubricants
Companies covered:	Chemtura Corp., Afton Chemicals Corp., Multisol, Wynn’s, Archoil, and Whitmore
Growth Drivers:	The surge in aerospace & defense manufacturing is expected to drive the friction modifier additives market growth The rise in the production of automobiles is expected to accelerate the market growth
Restraints & Challenges:	Tendencies that are changing in favor of electrifying road passenger

Friction Modifier Additives Market: Market Opportunity

The growing adoption of dual-clutch transmission, a passenger car that is popular across Western Europe, China, and the U.S. is expected to serve as major growth opportunities to the friction modifier additives market. These additives offer sophisticated frictional properties to the dual-clutch. Moreover, it also provides protection to the gear components and synchronized performance. Thus, the growing use of friction modifier additives in dual-clutch transmissions is expected to augment the market growth.

The rising demand for an optimized fuel economy to reduce friction in a thin layer and mixed lubrication conditions is expected to offer several market growth opportunities. Friction modifier additives contribute to fuel efficiency by offering shear thinning. Shear-thinning provides economic benefits, especially in mixed lubrication operations. Therefore, the growing demand for optimized fuel economy will favor the market growth.

Friction Modifier Additives Market: Market Trends

Increasing demand for friction modifier additives in aviation lubricants especially for gas turbines in aircraft is expected to foster the market growth. It ensures the maximum power output and cleanliness of modern transmission engines. Moreover, the growing demand for industrial lubricants in applications, such as transformers, tanks, and gearboxes, is expected to bolster the market growth of the friction modifier additives market over the forecast period.

Partnership and collaborations by key manufacturers in the Friction Modifier Additives market is a major trend. For instance, in March 2020, Red Line Synthetic Oil, a supplier of synthetic lubricants and additives, announced a new partnership with professional drag racing organization, Lex Joon Racing.

Figure 1: Friction Modifier Additives Market: Market Segmentation

Asia Pacific dominated the global friction modifier additives market in 2022, accounting for 32.7% share in terms of value, followed by Europe and North America.

Figure 2: Friction Modifier Additives Market: By Application

On the basis of application, in 2022, the automotive lubricants segment accounted for the largest market share of 45.6% in terms of value, followed by industrial lubricants and aviation lubricants segment respectively.

Friction Modifier Additives Market: Recent Development

In November 2022, BRB International, a wholly-owned subsidiary of PETRONAS Chemicals Group Berhad (PCG), inaugurated a new lube oil additives plant in the Netherlands which focuses primarily on the production of lube oil additives for the global Friction Modifier Additives market.

In May 2020, Bizol launched "Friction Modifer+ 094," a powerful anti-friction additive that improves the lubricating properties of engine oil, reduces fuel consumption, and extends the engine life

In August 2020, LANXESS launched a friction modifier, "Additin RC 3502" for passenger cars to reduce friction, maintain performance and protect against wear, and be compatible with all engine oil types

In January 2021, Royal Dutch Shell PLC and Whitmore Manufacturing LLC, a wholly-owned subsidiary of CSW Industrials, Inc., announced a definitive agreement to form a joint venture, Shell & Whitmore Reliability Solutions LLC, to market, distribute, and sell lubricants, friction modifiers, greases, and other reliability products, and related industrial services to the North America rail and the U.S. mining sectors

Friction Modifier Additives Market: Key Companies

Chemtura Corp., Afton Chemicals Corp., Multisol, Wynn’s, Archoil, and Whitmore

Definition: Friction modifier additives are the additives that are widely used in engine oil to reduce friction. They are also known as boundary lubrication additives and also reduce emissions. Natural and synthetic fatty acids, esters, molybdenum disulfide, and graphite are some of the major raw materials used in the manufacturing of friction modifier additives.

Table of Content

Table of Contents

Segmentation

Detailed Segmentation:

Global Friction Modifier Additives Market, By Application:
- Automotive Lubricant
- Industrial Lubricant
- Aviation Lubricants
- Power Generation Lubricants
- Rail Lubricants
Global Friction Modifier Additives Market, By Region:
- North America
  - U.S.
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Canada
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
- Europe
  - U.K.
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Germany
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - France
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Italy
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Spain
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Russia
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Rest of Europe
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
- Asia Pacific
  - China
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - India
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Japan
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - ASEAN
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Australia
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - South Korea
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Rest of Asia Pacific
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
- Latin America
  - Brazil
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Mexico
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Rest of Latin America
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
- Middle East
  - GCC
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Israel
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - Rest of Middle East
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
- Africa
  - By Application:
    - Automotive Lubricant
    - Industrial Lubricant
    - Aviation Lubricants
    - Power Generation Lubricants
    - Rail Lubricants
  - Central Africa
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants
  - South Africa
    - By Application:
      - Automotive Lubricant
      - Industrial Lubricant
      - Aviation Lubricants
      - Power Generation Lubricants
      - Rail Lubricants

- Frequently Asked Questions -

What will the market size be in 2030 and at what rate will it grow?

The friction modifier additives market is estimated to surpass US$ 2601.9 million by 2030, exhibiting a CAGR of 8.1% between 2023 and 2030.

What are the major growth driving factors for the market during the forecast period?

The surge in aerospace & defense manufacturing is expected to drive the market growth and the rise in the production of automobiles are expected to accelerate the market growth.

What is the Compound Annual Growth Rate (CAGR) of the market during the forecast period (2023-2030)?

The market is expected to exhibit a CAGR of 8.1% during the forecast period (2023-2030).

Who are the prominent players in the market?

Chemtura Corp., Afton Chemicals Corp., Multisol, Wynn’s, Archoil, and Whitmore

What are the key factors hampering the growth of the market?

Tendencies that are changing in favor of electrifying road passenger