Driveline Additives Market
The global driveline additives market was valued at $4,296 million in 2016, and is anticipated to reach $6,097 million by 2023 growing at a CAGR of 5.2% from 2017 to 2023. Driveline additives accounted for approximately 30% share in the global lubricant additives market volume, in 2016. The industry is expected to expand at a higher growth rate as compared to the conventional lubricant additives. This is attributed to the global growth in automobile industry in the developing regions and various benefits offered by these additives in the formulation of gear oils, automatic transmission fluids, and in fluids for off-road applications.
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