Global Friction Modifier Additives Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Friction Modifier Additives Market was valued at USD 1,254.5 Million in 2016, and is set to grow at CAGR of 4.2% over forecast period 2020–2026. Growing requirements for extended hardware durability, rising demand for fuel-efficient lubricants and variations in transmission fluids and temperatures are the key factors propelling the market growth.

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An increase in investment of individuals towards maintenance of their vehicles is expected to drive the Friction Modifier Additives Market during the forecasted period. Manufacturers are expanding their manufacturing capacities in emerging regions like Asia Pacific and this is expected to have a positive effect on the growth of the Friction Modifier Additives Market.

Market Dynamics:

Increasing consumer focus on enhancing hardware lifecycle and fuel efficiency using friction modifier additives.
Rising need to reduce frictional co efficiency by controlling frictional properties is expected to fuel market growth.
Growing number of modifications in vehicles to enhance the performance of the vehicles is creating opportunities in the market.
Increasing focus of industries on functional optimization is fuelling the demand for friction modifier additives.
However, the availability of other alternative fuels is expected to hinder the market growth.
Manufacturers of these additives, as they are increasingly focusing on improving friction modifier additives.