Friction Modifiers Market Size, Share, and Growth Report 2032

Friction Modifiers Market

Friction Modifiers Market By Type (Organic And Inorganic), By Application (Transport Lubricants(Commercial Vehicle, Passenger Vehicle, Aviation, Marine) And Industrial Lubricants), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032

Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-2909 Published Date: Mar-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 1,202.60 Million USD 1,726.60 Million 4.10% 2023

The global friction modifiers market size was worth around USD 1,202.60 million in 2023 and is predicted to grow to around USD 1,726.60 million by 2032 with a compound annual growth rate (CAGR) of roughly 4.10% between 2024 and 2032.

The report on the friction modifiers market provides a comprehensive glance at the global and regional levels. The study provides historic data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue and volume. The study includes major driving forces and restraints for the friction modifiers market along with the impact they have on the demand over the forecast period. Furthermore, the study also provides the major avenues of the global friction modifiers market.

Global Friction Modifiers (Organic and Inorganic) MarketRequest Free Sample

Friction Modifiers Market: Overview

Friction modifiers are typically oil-soluble chemicals that are used as additives in lubricating oils for transmissions and internal combustion engines. Friction oil represents a small fraction of the total engine oil and plays an important role in reducing friction in metal to metal contact points in the transmission and engines. Friction modifiers are designed to change the amount of energy needed to cause two surfaces to move past one another. Friction modifies provides smooth’s the transition from a dynamic condition to a static condition, such as during a gear change in a transmission or the engagement of a clutch.

The global friction modifiers market is expected to grow at a considerable rate in the forecast period. Increasing consumer preference towards the maintenance of their vehicles is expected to drive the market. Furthermore, favorable government regulations for green procurement policies and easy availability of raw materials have contributed largely to market growth in recent years. However, the availability of cheaper substitutes such as detergent additives, oiliness agents, extreme pressure, and dispersant additives may hamper the market in coming years. Nonetheless, product innovation and emerging market in the Asia Pacific is likely to open new avenues for the major players of the market during the years to come.

Friction Modifiers Market: Segmentation

The study provides a significant view of the global friction modifiers market by classifying it into type, application, and region segmentation. These segments have been estimated and forecasted with the future and past trends.

On the basis of type, friction modifiers market is classified into organic and inorganic friction modifier. Inorganic friction modifier is the most dominant type, accounting for a major market share in 2023. However, the demand of organic friction modifier is anticipated to increase in the coming years owing to their versatile and eco-friendly nature.

Based on diverse applications, the global friction modifiers market is mainly segmented into transportation lubricants and industrial lubricants. The transportation lubricant application is further classified into the commercial vehicle, passenger vehicle, aviation, and marine. In terms of value, the passenger vehicle is expected to grow at highest CAGR in the forecast period owing to increasing environmental concerns. Inorganic lubricants were the leading application segment of global friction modifiers market in 2023.

Friction Modifiers Market: Report Scope

Report Attributes Report Details
Report Name Friction Modifiers Market Research Report
Market Size in 2023 USD 1,202.60 Million
Market Forecast in 2032 USD 1,726.60 Million
Growth Rate CAGR of 4.10%
Number of Pages 110
Key Companies Covered Lubrizol, BASF SE, Afton Chemical Corporation, AkzoNobel N.V., Vanderbilt Chemicals, LLC, Infineum , Croda International Plc, Evonik Industries, Chevron Oronite Company LLC, Archoil, and among others.
Segments Covered By Type, By Application, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Friction Modifiers Market: Regional Insights

In terms of geographies, the friction modifiers market has been studied for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, Asia Pacific held the largest share of the friction modifier market. This growth is mainly attributed by rising demand for friction modifiers from various countries such as India, China, and South Korea. Moreover, Asia Pacific is predicted to be the fastest growing market of friction modifiers within the forecast period owing to the increasing demand for the automotive industry in the region. The Asia Pacific was followed by North America and Europe in the same year. The market growth rate in North America and Europe is expected to remain relatively higher as compared to the global average between 2018 and 2023.

Friction Modifiers Market: Competitive Space

  • Lubrizol
  • BASF SE
  • Afton Chemical Corporation
  • AkzoNobel N.V.
  • Vanderbilt Chemicals LLC
  • Infineum
  • Croda International Plc
  • Evonik Industries
  • Chevron Oronite Company LLC
  • Archoil 
  • Among Others

This report segments the global friction modifiers market as follows:

By Type 

  • Organic
  • In-organic

By Application 

  • Transport Lubricants 
    • Commercial Vehicle 
    • Passenger Vehicle
    • Aviation
    • Marine
  • Industrial Lubricants

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Friction modifiers are typically oil-soluble chemicals that are used as additives in lubricating oils for transmissions and internal combustion engines.

According to study, the global friction modifiers market size was worth around USD 1,202.60 million in 2023 and is predicted to grow to around USD 1,726.60 million by 2032.
 

The CAGR value of friction modifiers market is expected to be around 4.10% during 2024-2032.

Asia Pacific has been leading the global friction modifiers market and is anticipated to continue on the dominant position in the years to come.

The global friction modifiers market is led by players like Lubrizol, BASF SE, Afton Chemical Corporation, AkzoNobel N.V., Vanderbilt Chemicals, LLC, Infineum , Croda International Plc, Evonik Industries, Chevron Oronite Company LLC, Archoil, and among others.

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