Global Friction Modifiers Market 2019-2023

Below are some of the key findings from this friction modifiers market analysis report:

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Global friction modifiers industry overview

The growing automotive industry in APAC is driving the global friction modifiers market. The region is witnessing the rise of the automotive industry due to several factors such as rapid industrialization, increase in disposable income, and improved standard of living. With the increase in the number of automobiles, there is also the need to achieve fuel efficiency which is resulting in the high demand for friction modifiers. Friction modifiers reduce friction and slippage and thus improve fuel economy and efficiency. This will encourages end-users to adopt and invest in the market, thus leading to market growth.

The increasing consumption of motor oil is a key trend that will positively impact the global friction modifiers market. Friction modifiers are primarily used in motor oils to extend the life span of automobile engines. Thus, the growth of the automotive industry in APAC has led to an increase in the consumption of motor oil which will drive the friction modifiers market at a CAGR of close to 4% during the forecast period.

Top friction modifiers companies covered in this report

The global friction modifiers market is highly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this friction modifiers industry analysis report will help clients identify and design new growth strategies.

The report offers a detailed analysis of several leading friction modifiers companies, including:

• Afton Chemical
• BASF
• Berkshire Hathaway
• Chevron Corporation
• Croda International
• LANXESS

Friction modifiers market segmentation based on type

• Organic
• Inorganic

The largest segment of the global friction modifiers market in 2018 was the organic friction modifiers segment, because of its versatility and environment-friendliness. The market share of this segment will increase further, and it will continue to dominate the market throughout the next five years.

Friction modifiers market segmentation based on region

• The Americas
• APAC
• EMEA

APAC accounted for the largest friction modifiers market share in 2018, owing to the rise in the production of automobiles and related components. This region will witness an increase in its market share and remain the market leader over the next five years.

Key highlights of the global friction modifiers market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the friction modifiers market during the next five years
• Precise estimation of the global friction modifiers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the friction modifiers industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of friction modifiers companies

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