Friction Modifiers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Friction Modifiers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : November, 2020 | Chemical & Materials | PPT format

Report Digest


Global Friction Modifiers Market: Snapshot

The demand within the global market for friction modifiers is increasing on account of the willingness of several industries to experiment with the usage of new materials. Friction modifiers are primarily meant to reduce the friction caused by the rubbing of two or more components, and these modifiers are extremely useful in the automotive industry. It is expected that the successful marketing and promotion of friction modifiers would accelerate demand within the global market for friction modifiers. Furthermore, several quality checks to test the effectiveness of these modifiers have given a seal of credibility to these modifiers. Hence, it is safe to estimate that the demand within the global market for friction modifiers would outdo all the previous marks of demand.

The automotive sector is characterised by precision and meticulousness, and the slightest of carelessness could have dire consequences. For this reason, the use of friction modifiers to regulate friction between automobile parts has become a necessity in the contemporary times. Furthermore, the government has given approvals and certifications for the usage of friction modifiers in the automotive industry, and this has further propelled demand within the global market.

On the negative end, the global market for friction modifiers faces stiff competition from the growing popularity of conventional fuels. Furthermore, environmental concerns have brought electric vehicles to the fore, and the growing popularity of these vehicles is expected to be a roadblock for the global friction modifiers market.

Geographically, the market for friction modifiers in Europe has been prospering on account of the expansive automotive sector in England, Germany, and France.

Global Friction Modifiers Market: Overview

The global friction modifiers market is foreseen to gain momentum in growth due to its widening scope as a result of the rise of the transportation industry. Increase in the use of lubricants around the world could be one of the vital factors attaining support from the overall growth of the transportation industry. In the near term, market growth is anticipated to increase on the back of swelling demand for friction modifiers in South Korea, India, and other developing nations. Also known as antifriction additives, friction modifiers could improve their demand as strict government regulations offer strong growth prospects.

Friction modifiers could be offered in two main types, viz. inorganic and organic, where the former is foretold to secure a larger share of the global market in the near future. Compared to organic friction modifiers, their inorganic counterpart is said to be economically priced.

Global Friction Modifiers Market: Trends and Opportunities

Inorganic friction modifiers offering exceptional friction reduction and outstanding performance are envisaged to collect massive demand in the global market. According to a study of market dynamics for friction modifiers, there could be telling growth prospects birthing on account of increasing vehicle parc and expansion of the automotive industry. Furthermore, magnifying demand for fuel-efficient lubricants is prognosticated to set the tone for valuable growth in the world friction modifiers market.

However, increase in the use of alternative fuels and preference for electric vehicles could hamper the demand for friction modifiers. Moreover, there could be an adverse effect on the overall production cost of friction modifiers because of inconsistency in raw material prices. Nonetheless, developments in friction modifier additive technologies and massive research and development investments are prophesied to create a wealth of opportunities in the world friction modifiers market.

Global Friction Modifiers Market: Market Potential

Novel crop enhancement business, Plant Impact Plc was acquired by Croda International Plc after the latter announced the completion of its purchase in March, 2018. Plant Impact is said to report into its acquisitor’s Life Science business following the acquisition. However, taking shape as a subsidiary within Croda Europe, the company will retain its identity after the acquisition, said a press release by Croda. President of Croda Life Sciences, Nick Challoner said that their strategy would be to maximize benefits offered by this integration.

Global Friction Modifiers Market: Regional Outlook

At least until the completion of 2022, Asia Pacific is projected to take over a commanding position of the international friction modifiers market. It could be a larger region of the market taking advantage of favorable situations in prominent countries such as India, South Korea, Japan, and China. Considered as automotive hubs of the region, all of these country-wise markets could prove to be extremely vital for the overall growth of Asia Pacific.

Europe and North America could bank on stringent emission standards required to be followed in the automobile industry. Besides their use in meeting these standards, friction modifiers find application in enabling efficient functioning of lubricants. For automotive and automotive lubricants manufacturing, the usage of fuel-efficient lubricants is mandatory in both the regions.

Global Friction Modifiers Market: Competitive Landscape

Entry of new players seems to be difficult with the need to keep up with current changes and developments in friction modifier technology, which requires vast investments in research and development activities. One of the go-to developmental strategies adopted by leading companies could be market expansion. In order to meet changing consumer demands, companies are expected to focus on launching cost-effective and new materials. Some of the key players of international friction modifiers market are Infineum, Afton, and Lubrizol.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?