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Read here the report DRIVELINE ADDITIVES MARKET ANALYSIS by CMI team.
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DRIVELINE ADDITIVES MARKET ANALYSIS • Driveline additives are referred to the additives that are widely used in automobiles for lubrication in the manual transmission, axles, automatic transmission, and differentials. The additives are classified into dispersants, detergents, viscosity index improvers, anti-wear agents, corrosion inhibitors, antioxidants, emulsifiers, and friction modifiers. These additives help in the enhancing the fuel effecting of the vehicle and reduce emissions.
The global driveline additives market US$ 7,619.0 Mnin terms of value and is projected to reach US$ 12,845.5 Mn by the end of 2027, growing at a CAGR of 5.9% during the forecast period (2019 to 2027). • Drivers • The increasing launch of innovative lubricant additive is expected to foster the market growth of driveline additives. For instance, in April 2019, Lanxess has launched an organic additive for passenger car and high-performance engine oils. The new Addition RC 3502 has been specifically developed to reduce friction and deliver sustained performance and anti-wear protection. Moreover, it is non-corrosive, compatible with all synthetic and mineral engine oils, and has zero SAPS (sulphated ash, phosphorous, sulphur). • Rising production of the vehicle around the globe coupled with an increasing number of on-road and off-road vehicles in operation is expected to fuel the market growth of the driveline additive. Also, the growing adoption of Continuously Variable Transmission (CVT) and the introduction of transmissions with high operational temperatures is projected to propel the market growth. Moreover, increasing demand for longer drain intervals from the OEMs are projected to create high demand for driveline additives over the forecast timeframe.
Figure 1. Global Driveline Additives Market Share, By Region, 2018
Market Restraints • Fluctuating prices of driveline additives around the globe has negatively impacted the market growth of driveline additives. Volatility in the supply of raw materials coupled with the general impact of higher crude oil prices is expected to hinder the market growth of driveline additives. Moreover, strict export/import laws and regulations are restricting trading around the globe. This factor is also projected to restrict the market growth of driveline additives. • Increasing adoption of the hybrid electric vehicle due to strict emission norms is projected to hamper the market growth of driveline additives. The hybrid electric vehicle is powered by a battery and hence are fuel-efficient, the government of various countries is taking initiatives to promote the usage of hybrid electric vehicles which is expected to restrict the usage of driveline additives. This is turn expected to hinder the market growth.
Figure 2. Global Driveline Additives Market – Opportunity Analysis
Market Opportunities • Increasing number of partnerships for manufacturing of additives is projected to propel the market growth over the forecast timeframe. GE Additive, Concept Laser and Arcam AB have signed a Memorandum of Understanding (MoU) with GKN to collaborate on Additive Manufacturing (AM) for the aerospace and automotive industry. The agreement encompasses the provision of additive machines and services to GKN that offer them to be a GE Additive Production Partner. Hence, this is expected to propel the market growth. • An increasing number of R&D programs and centers for driveline additive is expected to augment the market growth over the forecast period. Moreover, the rising focus of manufacturer to develop the bio-based driveline additive is also expected to foster the market growth of driveline additive. Therefore rising demand for bio-based additive is encouraging the government to invest in the R& D in order to develop an innovative product, which in turn is propelling the market growth.
Figure 3. Global Driveline Additives Market – Value Chain Analysis
Market Trends/Key Takeaways • Rising investment by major players for developing the additives for catering to the rising demand for additives is projected to propel the market growth. For instance, in January 2019, the Lubrizol Corporation announced its decision to proceed with a 10-year phased investment plan to upgrade operations and increase global capacity in additives. Lubrizol aims to respond to lubricant growth in Asia and better match its manufacturing footprint with global demand patterns. • Increasing collaboration among major players coupled with the rising strict environmental rules and regulations for reducing the emission is projected to propel the market growth over the forecast period. Moreover, increasing the launch of highly efficient products at a lower cost is another major trend that has been observed in the market. Hence these factors are projected to fuel the market growth over the forecast period.
Competitive Section: • Company Profiles • Lubrizol Corporation, BASF SE, Afton Chemical Corporation, Vanderbilt Chemicals, LLC, Infineum International Limited, BRB International B.V, Chevron Oronite Company, LLC, and Lubrilic • Few Recent Developments • The Lubrizol Corporation • In May 2015, The Lubrizol Corporation introduced a new brand of additive, Lubrizol PV1116, to produce higher-performance, fuel-efficient lubricants
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