DUBLIN--(BUSINESS WIRE)--The "Friction Modifiers Market by Type (Organic and Inorganic), Application (Transportation Lubricants (Commercial Vehicle, Passenger Vehicle, Aviation, Marine), and Industrial Lubricants), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The friction modifiers market is projected to grow from USD 843.0 million in 2017 to USD 1,004.3 million by 2022, at a CAGR of 3.6% during the forecast period.
Friction modifiers are also termed as antifriction additives. APAC is the manufacturing hub for automotive due to the increasing vehicle production in China and India. The growth of the friction modifiers market can be attributed to the continuous growth of the transportation industry in these emerging economies.
Inorganic friction modifiers are the most widely used type of friction modifiers, as they enhance the life as well as the quality of lubricants wherein they are applied. Inorganic additives are cheaper than organic friction modifiers. Molybdenum compounds subsegment is estimated to account for the largest share of the inorganic friction modifiers in 2017.
The transportation lubricants segment is further segmented into commercial vehicle, passenger vehicle, aviation, and marine. The passenger vehicle subsegment is expected to grow at the highest CAGR between 2017 and 2022. The high growth of the friction modifiers market is expected due to the increasing environmental and safety concerns.
The friction modifiers market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is expected to lead the friction modifiers market during the forecast period, owing to the increasing demand from emerging economies such as China, India, and South Korea due to the growing transportation sector and industrialization.
- Lubrizol Corporation
- Afton Chemical Corporation
- Infineum International Limited
- Chevron Oronite Company LLC
- Croda International PLC
- BASF SE
- Chemtura Corporation
- Kings Industries, Inc.
- BRB International BV
- Vanderbilt Chemicals, LLC
- CSW Industrials Inc.
- Abitec Corporation
- Adeka Corporation
- Multisol Ltd.
- PMC Biogenix, Inc.
- Nyco SA
- Dog Deutsche Oelfabrik Gesellschaft Fr Chemische Erzeugnisse Mbh & Co. Kg
- Akzonobel N.V.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Friction Modifiers Market, By Type
7 Friction Modifiers Market, By Application
8 Friction Modifiers Market, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/m3rwkj/global_friction?w=4