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Friction Modifiers Market Trends

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

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Friction Modifiers Market Trends

In the friction modifiers industry, several notable trends are shaping the industry landscape. Firstly, there is a growing emphasis on sustainability and environmental responsibility, driving the demand for eco-friendly friction modifier solutions. Manufacturers are increasingly focusing on developing formulations that minimize environmental impact while maintaining or enhancing performance. This trend aligns with broader industry efforts to reduce carbon emissions and adopt greener practices across the automotive, industrial, and manufacturing sectors.

Secondly, there is a notable shift towards advanced additive technologies and innovative formulations. Market players are investing in research and development to create friction modifiers that offer superior performance characteristics, such as enhanced durability, temperature stability, and compatibility with modern lubricants and functional fluids. Moreover, there is a growing trend towards customization and tailor-made solutions to meet the specific requirements of different applications and end-users. These trends reflect the ongoing evolution of the market towards more efficient, effective, and sustainable solutions that address the evolving needs of various industries and sectors.

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.