Driveline Additives Market value to expand at USD6.1 Billion by 2023


Driveline Additives Market Outlook 2017-2023:

Global Driveline Additives Market was valued at $4,296 million in 2016, and is estimated to reach $6,097 million by 2023, registering a CAGR of 5.2% from 2017 to 2023. In 2016, based on vehicle type, the passenger vehicles segment accounted for around two-thirds share of the total market.

Driveline additives is an umbrella term for additives used in automobiles to accomplish the lubrication requirements for manual transmission, automatic transmission, axles, and differentials. The additives used in the industry are dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and various others.

Download Sample Copy of this Report at: https://www.alliedmarketresearch.com/request-sample/1967

The global driveline additives market is driven by growth in vehicles production, rise in on-road and off-road vehicle parc, need for longer service drain intervals for transmission fluids and axle fluids, and rise in consumer inclination toward enhancing fuel efficiency of vehicles. Moreover, implementation of stringent emission norms globally and continuing requirement for hardware durability are expected to fuel the demand for driveline additives in the near future. However, factors, such as high cost of driveline additives as compared to conventional additives and fluctuating raw material prices are expected to hamper the market growth.

Driveline additives are used in transmission fluids to fulfil the transmission requirements to improve fuel economy and reduce emissions. Transmission fluid additive packages are used in automatic transmission fluids (ATFs), continuously variable transmission fluid (CVT), dual clutch transmission fluid, and manual transmission fluids to overcome problems, such as transmission shudder, poor shift feel, and accelerated wear that are common due to increasing oil drain intervals.

First time buyer? Check offers and discount on this report: https://www.alliedmarketresearch.com/purchase-enquiry/1967

Key Findings of the Driveline Additives Market:

 

  • In 2016, Asia-Pacific dominated the global market, constituting around half of the market share, in terms of both revenue and volume.
  • China was the leading consumer of driveline additives globally in 2016, and is expected to grow at a CAGR of 6.2% during the forecast period.
  • On the basis of vehicle, the off-highway vehicles segment is estimated to grow at a CAGR of 6.0% from 2017 to 2023, in terms of revenue.
  • The passenger vehicles segment accounted for around two-thirds share of the global driveline additives market.
  • Based on product, the transmission fluid additives segment accounted for the highest share in 2016, and is estimated to grow at a CAGR of 5.7% from 2017 to 2023.
  • The dispersants segment leads the additive segment, and accounted for two-thirds share in the global market, in terms of revenue.
  •  
In 2016, Asia-Pacific dominated the global driveline additives market, in terms of both value and volume. In addition, Asia-Pacific is expected to witness the highest growth rate from 2017 to 2023, owing to the rapid growth in automobile industry in countries, such as China, India, Indonesia, Iran, Philippines, and Vietnam. Europe was the second leading in geographical segment, which registered a CAGR of 5.0%, in terms of revenue, in 2016.

The key companies profiled in the report include BRB International B.V., The Lubrizol Corporation, Vanderbilt Chemicals, LLC., Infineum International Ltd., Afton Chemical Corporation, BASF SE, Chevron Oronite Company, LLC., Lubrilic Corporation, AB Petrochem Pvt. Ltd., and VPS Lubricants.



Comments

Post a Comment

Popular posts from this blog

Bio-Alcohols Market Value to Grow USD11.6 Billion by 2022

Bio-Alcohols Market Outlook 2014-2022: Global Bio-Alcohols Market major players are BioAmber Inc., Cargill Inc., Genomatica Inc., Myriant Corporation, BASF SE, Cool Planet Energy Systems Inc., Fulcrum BioEnergy Inc., Mitsubishi Chemical Corporation, Harvest Power Inc., Valero Energy Corporation, BP Biofuels, and Raizen S.A. Bio-Alcohols Market is expected to garner $11,574 million by 2022, registering a CAGR of 8.6% during the period 2014-2022. Bioethanol is the largest segment by type and is expected to grow at a CAGR of 7.6% during the forecast period, in terms of revenue. Download Sample Copy of this Report at: https://www.alliedmarketresearch.com/request-sample/1876 Factors that drive the growth of the bio-alcohols market  are,  the demand for greener fuel coupled with providing long-term energy security to supply energy in line with economic developments and sustainable environmental needs. Volatility in crude oil prices is also expected to provide significant
Read more

Animal Acids Nutrition Market : A Global Spotlight

Animal Acids Nutrition Market Outlook 2019-2026: Global Animal Acids Nutrition Market top key players are Ligrana GmbH, Ajinomoto Eurolysine S.A.S., Avebe Group, Oleet Processing Ltd., Corbion nv, Yara International , Hexagon Nutrition Pvt. Ltd., Barentz Group, GITES GmbH (Ltd.). Addition of acids improves the hygiene status of animal feed. Acids have a positive effect on the digestive tract, improve the flavor of the animal feed, and can be supplemented with nutrients. Acids act as highly effective alternatives to conventional performance enhancers when mixed in correct proportions. Usage of organic acids in animal nutrition has gained significant importance in the feed industry after the European ban of antibiotic growth promoters (AGPs) in 2006. Download Sample Copy of this Report at: https://www.alliedmarketresearch.com/request-toc-and-sample/2622 Increase in global meat consumption, industrialization of meat products, and rise in awareness of the quality of
Read more

Chlorinated Paraffin Market Value offering at USD2.5 Billion by 2022

Chlorinated Paraffin Market Outlook 2014-2022: Global Chlorinated Paraffin Market was valued at $1,902 million in 2015, and is expected to reach $2,426 million by 2022, supported by a CAGR of 3.5% during the forecast period 2016 - 2022. China is one of the prominent producers of chlorinated paraffin and held nearly one-fifth of the total market in 2015. Chlorinated paraffin is colorless or yellowish, viscous, dense oils, except for the chlorinated paraffins of long carbon chain length with high chlorine content (about 70%), which are solid. Chlorinated paraffin offers advantages such as flame retardancy and low-temperature strength as well as increases the flexibility of the materials. Chlorinated paraffins are used as extreme pressure additives as metal working lubricants or cutting oils. This is attributed to their compatibility with oils, viscous nature, and property of emancipating hydrochloric acid at high temperatures. They improve the resistance to water and chemica
Read more