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Friction Modifiers Market Share

Report ID: GMI8133
Published Date: Feb 2024
Report Format: PDF

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Friction Modifiers Market Share

Friction Modifiers Market Company Share, (2023)

In the highly competitive friction modifiers industry, companies strive to secure and maintain significant market share through various strategies and offerings. Lubrizol Corporation, a prominent player in the market, leverages its extensive expertise in specialty chemicals to develop innovative friction modifier solutions tailored to meet the diverse needs of automotive and industrial applications. With a strong global presence and a focus on research and development, Lubrizol Corporation has been able to capture a considerable share of the market by delivering high-quality products that enhance lubricant performance and fuel efficiency.

Croda International PLC is another key player in the industry, renowned for its portfolio of sustainable and eco-friendly additives. The company's commitment to sustainability and innovation has resonated well with environmentally conscious consumers and industries seeking greener lubricant solutions. By offering a range of biodegradable friction modifiers and leveraging its expertise in bio-based chemistry, Croda International PLC has secured a notable market share, particularly in regions with stringent environmental regulations and growing demand for sustainable lubricant additives.

Chevron Corporation, a leading integrated energy company, also commands a significant market share in the friction modifiers industry. Leveraging its extensive research and development capabilities and a diverse portfolio of lubricants and functional fluids, Chevron Corporation offers a comprehensive range of friction modifiers tailored to meet the evolving needs of automotive, industrial, and marine applications. With a focus on product quality, reliability, and performance, Chevron Corporation has established itself as a trusted partner for customers seeking cutting-edge friction modifier solutions, further solidifying its position in the market.

Friction Modifiers Market Companies

Major players operating in the friction modifiers industry include:

ABITEC
ADEKA CORPORATION
Afton Chemical Corporation
BASF SE
BRB International BV
Chevron Corporation
Croda International PLC
CSW Industrials Inc.
F.I.L.A. Group
Kings Industries, Inc.
LANXESS
Lubrizol Corporation
Multisol
Royal Dutch Shell PLC
Vanderbilt Chemicals, LLC

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for friction modifiers was USD 1 billion in 2023 and is expected to register over 4.3% CAGR from 2024-2032 owing to the increasing demand for high-performance lubricants and functional fluids across diverse industries worldwide.

Friction modifiers industry from the organic segment reached USD 0.38 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their compatibility with a wide range of lubricants and functional fluids, as well as their ability to reduce friction.

North America industry size for friction modifiers recorded USD 0.37 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the presence of a mature automotive industry, and high demand for friction modifiers to improve fuel efficiency in the region.

BRB International BV, Chevron Corporation, Croda International PLC, CSW Industrials Inc., F.I.L.A. Group, Kings Industries, Inc., LANXESS, Lubrizol Corporation, Multisol, Royal Dutch Shell PLC, and Vanderbilt Chemicals, LLC are some of the major friction modifiers companies worldwide.