The global driveline additives market was valued at $7.4 billion in 2021, and is projected to reach $10.7 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
Driveline additives are designed to optimize automotive performance. In order to acquire greatest lubrication, right information of each device and properties of the base fluids and additives is necessary. Additives added to transmission fluid formulations or tool oils decrease friction and eliminate heat. High-strain anti-wear additives are used to prevent equipment failure and downtime caused by scuffing, wearing, spalling, pitting, scoring, and different types of distress. Protection against oxidation, thermal degradation, rust, copper corrosion, and foaming is provided by driveline additives.
The driveline additives market is driven by increase in need for extended service drain breaks for axle fluids &transmission fluids, boom in cars production, rise in client choice toward enhancing fuel performance of cars, and surgein on-road and off-road vehicle. The global driveline additives market is predicted to expand significantly in the near future due to the implementation of stringent emission rules globally and continuous requirement for hardware durability. The automobile industry is driven by the growth in demand for automobiles in growing economies such as China and India. This, in turn, boosts the requirement for finished lubricants, thereby boosting the demand for driveline additives.
The driveline additives market is constantly changing owing to the continuous evolution of the driveline industry. Developments such as increased vehicle production, emissions legislation, and globalization &localization, especially in India, have a significant impact on the industry driveline lubricant needs. However, fluctuation in raw material prices and high cost of driveline additives as compared to conventional additives are expected to hinder the market.
The driveline additives market is segmented into product type, vehicle type, additives type, and region. By product type, the market is categorized into transmission fluid additives, gear oil additives, and others. On the basis of vehicle type, it is fragmented into passenger vehicles, commercial vehicles, and off-highway vehicles. As per additives type, it is classified into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global driveline additives market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include AB Petrochem Pvt. Ltd., Afton Chemical Corporation, BASF SE, BRB International B.V., Chevron Oronite Company, LLC, Evonik Industries AG, International Petroleum & Additives Company, Inc., The Lubrizol Corporation, Vanderbilt Chemicals, LLC, VPS Lubricants.
The COVID-19 pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for driveline additives has witnessed significant decline in all segments. Some regions, particularly, North America and Europe, witnessed greater decline than Asia-Pacific. Amidst the ongoing crisis, driveline additives producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term.
In response to the global coronavirus outbreak, which was responsible for major lifestyle, health, and business changes, the industry for driveline additives suffered a significant blow. This was mainly due to the abrupt closing down of the automotive manufacturing plants. The dearth of labor and components also plummet the sales of vehicles. However, with the gradual resumption of most industrial operations, the product demand is expected to pick up an essential pace.
As a result of the pandemic, many cars were rendered obsolete. In some households, they had been static for months. This necessitated the use of driveline additives such as detergents, dispersants &emulsifiers, and anti-wear additives to maintain and safeguard the cars.
As a result of the reopening of various production facilities, the industry is gradually recovering from losses, resulting in strong sales expectations in the driveline additives market. In the coming years, rising prospects for transmission fluid additives are likely to improve demand for the product.
Driveline additives are designed to optimize automotive performance. In order to acquire greatest lubrication, right information of each device and properties of the base fluids and additives is necessary. Additives added to transmission fluid formulations or tool oils decrease friction and eliminate heat. High-strain anti-wear additives are used to prevent equipment failure and downtime caused by scuffing, wearing, spalling, pitting, scoring, and different types of distress. Protection against oxidation, thermal degradation, rust, copper corrosion, and foaming is provided by driveline additives.
The driveline additives market is driven by increase in need for extended service drain breaks for axle fluids &transmission fluids, boom in cars production, rise in client choice toward enhancing fuel performance of cars, and surgein on-road and off-road vehicle. The global driveline additives market is predicted to expand significantly in the near future due to the implementation of stringent emission rules globally and continuous requirement for hardware durability. The automobile industry is driven by the growth in demand for automobiles in growing economies such as China and India. This, in turn, boosts the requirement for finished lubricants, thereby boosting the demand for driveline additives.
The driveline additives market is constantly changing owing to the continuous evolution of the driveline industry. Developments such as increased vehicle production, emissions legislation, and globalization &localization, especially in India, have a significant impact on the industry driveline lubricant needs. However, fluctuation in raw material prices and high cost of driveline additives as compared to conventional additives are expected to hinder the market.
The driveline additives market is segmented into product type, vehicle type, additives type, and region. By product type, the market is categorized into transmission fluid additives, gear oil additives, and others. On the basis of vehicle type, it is fragmented into passenger vehicles, commercial vehicles, and off-highway vehicles. As per additives type, it is classified into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global driveline additives market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include AB Petrochem Pvt. Ltd., Afton Chemical Corporation, BASF SE, BRB International B.V., Chevron Oronite Company, LLC, Evonik Industries AG, International Petroleum & Additives Company, Inc., The Lubrizol Corporation, Vanderbilt Chemicals, LLC, VPS Lubricants.
Key Benefits For Stakeholders
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global driveline additivesmarket from 2021 to 2031 to determine the prevailing opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the market growth in terms of both value and volume.
- Profiles of leading players operating in the market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
IMPACT OF COVID-19 ON DRIVELINE ADDITIVES MARKET
The COVID-19 pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for driveline additives has witnessed significant decline in all segments. Some regions, particularly, North America and Europe, witnessed greater decline than Asia-Pacific. Amidst the ongoing crisis, driveline additives producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term.
In response to the global coronavirus outbreak, which was responsible for major lifestyle, health, and business changes, the industry for driveline additives suffered a significant blow. This was mainly due to the abrupt closing down of the automotive manufacturing plants. The dearth of labor and components also plummet the sales of vehicles. However, with the gradual resumption of most industrial operations, the product demand is expected to pick up an essential pace.
As a result of the pandemic, many cars were rendered obsolete. In some households, they had been static for months. This necessitated the use of driveline additives such as detergents, dispersants &emulsifiers, and anti-wear additives to maintain and safeguard the cars.
As a result of the reopening of various production facilities, the industry is gradually recovering from losses, resulting in strong sales expectations in the driveline additives market. In the coming years, rising prospects for transmission fluid additives are likely to improve demand for the product.
Key Market Segments
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Off-highway Vehicles
By Additive Type
- Anti-wear Agents
- Antioxidants
- Corrosion Inhibitors
- Friction Modifiers
- Emulsifiers
- Others
- Dispersants
- Viscosity Index Improvers
- Detergents
By Product Type
- Transmission Fluid Additives
- Gear Oil Additives
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Spain
- U.K.
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Rest of LAMEA
Key Market Players
- AB Petrochem Pvt.Ltd.
- Afton Chemical Corporation
- BASF SE
- BRB International B.V.
- Chevron Oronite Company, LLC.
- Evonik Industries AG
- International Petroleum & Additives Company, Inc.
- The Lubrizol Corporation
- Vanderbilt Chemicals, LLC.
- VPS Lubricants
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DRIVELINE ADDITIVES MARKET, BY PRODUCT TYPE
CHAPTER 5: DRIVELINE ADDITIVES MARKET, BY VEHICLE TYPE
CHAPTER 6: DRIVELINE ADDITIVES MARKET, BY ADDITIVE TYPE
CHAPTER 7: DRIVELINE ADDITIVES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Driveline Additives Market,' the driveline additives market was valued at $7.4 billion in 2021, and is estimated to reach $10.7 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.Driveline additives are referred to the additives which might be broadly utilized in automobiles for lubrication in the manual transmission, axles, automatic transmission, and differentials. The additives are classified into dispersants, detergents, viscosity index improvers, anti-wear agents, corrosion inhibitors, antioxidants, emulsifiers, and friction modifiers. These additives help in enhancing the fuel efficiency of the car and decrease emissions.
Rise in manufacturing of automobiles around the world coupled with surge in number of on-road and off-road motors in operation are predicted to fuel the market growth of the driveline additive. In addition, the growth in adoption of Continuously Variable Transmission (CVT) and the creation of transmissions with high operational temperatures are projected to propel the market growth. Moreover, growth in demand for longer drain intervals from the OEMs is projected to create excessive demand for driveline additives over the forecast timeframe. The increase in launch of innovative lubricant additives is predicted to foster the market growth of driveline additives. For instance, in April 2019, Lanxess launched an organic additive for passenger car and high-performance engine oils. The new Addition RC 3502 that has been specifically developed to reduce friction and deliver sustained performance &anti-wear protection. Moreover, it is non-corrosive, compatible with all synthetic and mineral engine oils, and has zero SAPS (sulphated ash, phosphorous, and sulphur). However, fluctuating prices of driveline additives around the globe has negatively impacted the market growth of driveline additives.
The driveline additives market is segmented into product type, vehicle type, additives type, and region. By product type, the market is categorized into transmission fluid additives, gear oil additives, and others. By vehicle type, it is fragmented into passenger vehicles, commercial vehicles, and off-highway vehicles. As per additives type, it is classified into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global driveline additives market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include AB Petrochem Pvt. Ltd., Afton Chemical Corporation, BASF SE, BRB International B.V., Chevron Oronite Company, LLC, Evonik Industries AG, International Petroleum & Additives Company, Inc., The Lubrizol Corporation, Vanderbilt Chemicals, LLC, VPS Lubricants.
The global driveline additivesmarket is analyzed in accordance with the impacts of drivers, restraints, and opportunities. The period studied in this report is 2021-2031. The report includes the study of the market with respect to the growth prospects and restraints on the basis of regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
KEY FINDINGS OF STUDY
- On the basis of product type, the transmission fluid additives segment emerged as the global leader with around 53.6% of the global market share in 2021, and is anticipated to be the largest markets during the forecast period.
- Depending on vehicle type,the passenger vehicles segment registered the highest market share of around 66.1%, and is projected to maintain the same during the forecast period.
- As per additives type, the dispersants segment registered the highest market share of around 29.1%, and is projected to maintain the same during the forecast period.
- Region wise, Asia-Pacific registered the highest market share of around 35.5%, and is projected to maintain the same during the forecast period.
IMPACT OF COVID-19 ON DRIVELINE ADDITIVES MARKET
- The COVID-19 pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for driveline additives is witnessing significant decline in all segments. Some regions, particularly, North America and Europe, are witnessing greater decline than Asia-Pacific. Amidst the ongoing crisis, driveline additives producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term.
- In response to the global coronavirus outbreak, which was responsible for major lifestyle, health, and business changes, the industry for driveline additives suffered a significant blow. This was mainly due to the abrupt closing down of the automotive manufacturing plants. The dearth of labor and components also plummeted the sales of vehicles. However, with the gradual resumption of most industrial operations, the product demand is expected to pick up an essential pace.
- As a result of the pandemic, many cars were rendered obsolete. In some households, they had been static for months. This necessitated the use of driveline additives such as detergents, dispersants and emulsifiers, and anti-wear additives to maintain and safeguard the cars.
Companies Mentioned
- AB Petrochem Pvt.Ltd.
- Afton Chemical Corporation
- BASF SE
- BRB International B.V.
- Chevron Oronite Company, LLC.
- Evonik Industries AG
- International Petroleum & Additives Company, Inc.
- The Lubrizol Corporation
- Vanderbilt Chemicals, LLC.
- VPS Lubricants
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | May 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 7.4 billion |
| Forecasted Market Value ( USD | $ 10.7 billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
