Saturday, August, 24, 2019 10:26:47

Asia Pacific Driveline Additives Market To Be A Part Of The Billion-Dollar Business Cosmos By 2025

Global Driveline Additives Market report 2025 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

In terms of product consumption Asia Pacific led the global driveline additives market in 2017. This can be attributed to the growing automobile industry in emerging economies include China, India, Vietnam, Philippines and Indonesia. Moreover, consumer’s increasing disposable income in the region have increased their expenditure on the vehicles due to which product demand has increased drastically in last few years.

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Driveline Additives Market size is likely to experience growth with a prominent CAGR over the forecast timeframe, 2018 – 2025. Driveline additives industry is anticipated to witness a highest CAGR compared to traditional lubricants. This can be attributed to the various benefits offered by these additives in formulation of automatic transmission fluids, gear oils and in off-road application fluids.

Increasing consumer preference towards fuel-efficient vehicles and rising on-road and off-road applications are the factors driving the global driveline additives market. Moreover, rise in the number of vehicles manufactured annually, need for longer service drain intervals for axle fluids, transmission fluids are anticipated to increase the product demand in near future. Booming trend of using more numbers of gears in manual transmission has been fueling the driveline additives industry from last few years.

Many countries are imposing strict regulations on emission and more hardware durability requirement which in turn will fuel the driveline additives market growth over the forecast timespan. Collaborations among automotive equipment manufacturers, lubricant & additive suppliers, continuous R&D initiatives to improve additives efficiency and increasing investments in the underdeveloped regions are expected to provide lucrative opportunities for the players operating in the global driveline additives industry.

The driveline additives market is changing constantly due to the continuing evolution in driveline industry. Developments in the industry such as emission legislations, increased vehicle production and globalization have significant impact on the driveline additives industry. This is likely to provide the new opportunities for driveline additives industry in coming years.

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Based on application the market is segmented into passenger vehicles, commercial vehicles and off-highway vehicles. Passenger vehicles and off-highway vehicles segments seem to be lucrative for investment in the driveline additives market. Based on additives the market can be classified into dispersants, viscosity index improvers, anti-wear agents, detergents, corrosion inhibitors, friction modifiers, emulsifiers, antioxidants and others.

Many multinational giants and medium-scale companies are operating in the industry. Key players operating in the industry incudes BRB International, BASF SE, Vanderbilt Chemicals, The Lubrizol Corporation, Afton Chemical, LLC., Infineum International Limited, Chevron Oronite Company LLC., Lubrilic, Evonik Industries, AB Petrochem, DowDuPont and VPS Lubricants.
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