PRESS RELEASE
Posted on May 24, 2023
Data Bridge Market Research analyzes that the friction modifiers The market will witness a CAGR of 9.7% for the forecast period 2022-2029. The Friction Modifiers Market report analyzes the growth, due to accelerated application of Friction Modifiers in advertising and promotions of various brands.
Friction modifiers, also known as boundary lubrication additives, are oil-soluble chemicals used in lubricants as transmission and internal combustion engine additives. These lubricants are used in machine components to reduce wear and friction. These modifiers are important at the limit of the lubrication regime, preventing solid surfaces from greasing each other and thus reducing friction and wear.
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Growing automobile industry and vehicle parking as well as increasing consumer preference for vehicle maintenance are expected to drive the friction modifiers market over the forecast years. Increasing demand for fuel-efficient lubricants, favorable government regulations for green procurement policies, and easy availability of raw materials are expected to drive the market in the coming years.
Additionally, the addition of friction modifiers has been shown to increase equipment life, thus increasing demand. Additionally, opportunities for market growth include stringent environmental regulations and advancements in friction modification technologies. Friction modifiers are widely used in fine art, advertising and promotions. Advances in friction modification technologies may open up new market opportunities in the near future.
However, there are certain limitations and challenges that may hinder the growth of the market. The availability of less expensive substitutes such as oiling agents, extreme pressure and dispersing additives as well as detergent additives are likely to act as a market restraint. The high volatility rates of raw materials would pose a serious barrier to market growth in the coming years.
Major market competitors covered in the report
- BASF SE
- Chemtura Corporation
- Kings Industries, Inc.
- BRB International BV
- Vanderbilt Chemicals, LLC
- CSW Industrials Inc
- Abitec Corporation
- Wynn’s
- Adeka Corporation
- Archoil
- Multisol Ltd
- PMC Biogenix, Inc
- Nyco SA
- Dog Deutsche Oelfabrik Gesellschaft for Chemicals Mbh & Co. Kg
- Akzonobel NV
- Lubrizol Corporation
- Afton Chemical Corporation
- Infineum International Limited
- Chevron Oronite Company LLC
- Croda International PLC
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This Friction Modifiers market report provides details of recent new developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations. , strategic analysis of market growth, market size, category market growths, application niches and domain, product approvals, product launches, geographical expansions, technological innovations in the market. To learn more about the Friction Modifiers market, contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth. Product approvals, product launches, geographic expansions, technology
Global Friction Modifiers Market Scope and Market Size
The friction modifiers market is segmented based on type, formulation, substrate, and application. Growth across different segments helps you gain knowledge related to the different growth factors expected to prevail in the market and formulate different strategies to help identify core application areas and differentiation in your target markets.
The Friction Modifiers market is analyzed and market size, volume information is provided by country, type, formulation, substrate and application as mentioned above.
Countries covered in the Friction Modifiers market report are USA, Canada and Mexico in North America, Germany, France, UK, Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, Israel , Egypt, South Africa, Rest of the Middle East and Africa (MEA) as part of the Middle East and Africa (MEA), Brazil, Argentina and the rest of South America as part of the Americas south
Asia-Pacific dominates the friction modifiers market and will continue to thrive during the forecast period due to the advancement of the marine industry in Asia-Pacific. South Korea, China and Japan are important countries in the manufacture and use of various vessels for various purposes.
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