Driveline additives are chemicals that are added to lubricating oils and greases used in driveline components such as gears, bearings, and transmission. They help in reducing friction and wear in driveline components, improving their performance and durability. There is an increasing demand for driveline additives from the automotive industry as they help extend the lifespan of driveline components and improve fuel efficiency.

The Global Driveline Additives Market is estimated to be valued at US$ 9,010 million in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the driveline additives market are Lubrizol Corporation, Vanderbilt Chemicals, LLC, Infineum International Limited, Afton Chemical, BASF SE, BRB International, Chevron Oronite Company, LLC, Lubrilic, and International Petroleum and Additives Company.

The key opportunities in the market include expanding application scope, incorporation of advanced additives, and growth in Driveline Additives Market Demand from commercial vehicles. Major players are focusing on geographic and product expansion to leverage these opportunities.

Globally, the driveline additives market is anticipated to witness significant growth in the Asia Pacific region primarily due to increasing automobile production and sales in China and India. Key players are investing in these emerging markets to tap the growth potential.

Market drivers: Increased global automobile production and sales will drive the demand for driveline additives as they help improve gear and transmission efficiency. Growing need to reduce friction and prevent wear in automotive components for improved performance and fuel efficiency is also fueling the market growth.

Market restrain: Stringent environmental regulations regarding use of certain chemical additives may hamper the market growth to some extent. Additionally, economic slowdowns impacting the automotive industry can negatively influence the driveline additives demand.
Segment Analysis

The driveline additives market can be segmented based on product type, additives, application, vehicle type and region. Based on product type, the gear oil segment holds the largest share as gear oil acts as a lubricant and also helps improve fuel efficiency. Within additives, EP additives dominates the market as it provides protection against wear under heavy loading conditions extending equipment life. In terms of application, transmission fluid accounts for more than 30% share as it is responsible for transferring power from the engine to the drive components. When considered by vehicle type, the passenger cars segment contributes significantly to market revenue owing to the rising vehicle production and sales across the globe.

Global Analysis

Regionally, Asia Pacific dominates the global driveline additives market and the trend is likely to continue during the forecast period. Countires like China, Japan and India are experiencing rapid industrialization, growing automotive demand and increasing per capita vehicle ownership which is propelling the regional market growth. North America holds the second position in terms of revenue owing to well-established automotive industry and high vehicle parc. Europe captutes moderate market share due to stringent emission norms pushing replacement demand for additives. Developing regions like Latin America and Middle East are showing promising growth prospects for driveline additives market participants on account of rising vehicle manufacturing activities, infrastructural projects and industrial investments.

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About Author-

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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