The driveline additive market is estimated to be valued at USD 9.3 billion in 2023. The market is expected to reach USD 15.2 billion by 2033, developing at a CAGR of 5.1%.
Driveline Additive Market Trend Analysis
| Attributes | Key Insights |
|---|---|
| Driveline Additive Market Estimated Size in 2023 | USD 9.3 billion |
| Projected Market Value in 2033 | USD 15.2 billion |
| Value-based CAGR from 2023 to 2033 | 5.1% |
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A study by our analysts found that a 4.0% CAGR was experienced between 2018 and 2022 in the driveline additive market. Global demand for driveline additives is predicted to increase at a CAGR of 5.1% from 2023 to 2033.
The driveline additive market has been significantly influenced by specific industry, economic, and innovation factors, including automotive sales, increasing per capita disposable income, product innovations, and others.
Some of the critical trends for the driveline additive market are that vital players constantly strive to reduce vehicle carbon emissions by improving lubricity. Key players focus on expanding capacity and launching innovative products to serve key end users.
Rising adoption of innovative technologies such as Dual Clutch Technology (DCT) and high investment in research and development to launch new products. The growth outlook of the market remains significant in the Asia Pacific region owing to higher sales of automotive and an increase in fleet size in the area.
| Historical CAGR from 2018 to 2022 | 4.0% |
|---|---|
| Forecast CAGR from 2023 to 2033 | 5.1% |
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The table below showcases revenues in the top 5 leading countries, spearheaded by the United States and the China. Through 2033, these two countries are likely to dominate the market, with a size of USD 8.2 billion and USD 7.5 billion.
Expected Market Values in 2033
| Russia | USD 7.1 billion |
|---|---|
| India | USD 6.8 billion |
| The United States | USD 8.2 billion |
| China | USD 7.5 billion |
| The United Kingdom | USD 7.8 billion |
Forecast CAGRs from 2023 to 2033
| Russia | 4.7% |
|---|---|
| India | 4.5% |
| The United States | 5.0% |
| China | 4.8% |
| The United Kingdom | 4.9% |
China is estimated to account for 45.3% of the driveline additives market share in 2023. China is expected to remain a key producer of driveline additives globally. This can be mainly attributed to rapid industrialization in the country. The country has continuing requirements for extended hardware durability.
Extended hardware durability translates directly to increased profitability and returns on investment for everyone in the supply chain. The country is a potentially lucrative area in terms of opportunity for key players in the global driveline additive market, putting the product in high demand in the coming years. This is expected to augment the growth of the driveline additive market in China.
The United States will account for approximately 68.8% of the North American driveline additive market in 2033. In 2033, the market is expected to grow by 5.0% year-on-year, reaching a valuation of USD 8.2 billion by the end of 2033.
High investments in research and development to bring advanced automotive technologies are augmenting the sales of driveline additives in the country. The United States ranks high in the annual global production of commercial vehicles, with a significant number of deals and production of cars. The presence of key companies like Lubrizol Corporation, Afton Chemical, and Chevron Oronite Company, LLC is expected to bolster the growth of these products in the country.
Russia is projected to account for 15.7% of the global driveline additive market share by 2033 end. Increasing adoption of Continuously Variable Transmission (CVT) and the development of transmissions with high operational temperatures, along with an increasing demand for longer drain intervals from the OEMs, is expected to generate a high demand for driveline additives over the forecast period in the country.
Profit-bearing growth strategies and product innovations by many key players are expected to propel sales of driveline additives over the assessment period.
The demand for driveline additives in the United Kingdom is projected to account for a CAGR of 4.9% by the end of 2033. The growing popularity of automatic transmission cars and an increase in domestic players is anticipated to spur market growth.
The country has witnessed notable growth in premium vehicles, which will significantly propel the demand for driveline additives. The growing automotive industry's strong focus on automotive vehicles drives the market demand. Driveline additives are used in passenger cars and industrial applications, emphasizing precision engineering and performance enhancement.
Improving growth prospects for automotive manufacturers owing to increasing automotive sales in India is likely to create opportunities for the driveline additive market.
Demand for driveline additives is growing as consumers seek ways to improve the performance and longevity of their vehicles. The agricultural sector, which relies heavily on tractors and other machinery, also contributes to the demand for driveline additives.
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According to market forecasts, the liquid segment is predicted to dominate until 2033, with a market share of 88%.
| Category | Market share |
|---|---|
| Transmission Fuel Additives | 59% |
| Passenger Car | 56% |
Transmission fluid driveline additive sales are expected to grow at a 5.1% CAGR from 2023 to 2033. Growing demand for increased fuel efficiency from OEMs and rising adoption of innovative technologies such as dual clutch technology (DCT) are poised to drive demand for transmission fluid additives over the forecast period.
There has also been a growth in preference for transmission fluid additives in the Asia Pacific, Excluding the Japan region. Owing to these factors, sales of transmission fluid additives are projected to increase over the forecast period.
Amongst the various applications, the passenger cars application segment is projected to remain one of the key segments, and the segment is estimated to account for about 57% of the overall consumption of driveline additives globally. Growth in the sales of passenger cars all over the globe has bolstered the segment in the driveline additives market.
Key players operating in the driveline additive market focus on sustainable development and invest in advancing technology for developing organic driveline additive. Players focus on production expansions and innovative product launches to serve more end users in the domestic market to gain a competitive edge. For instance
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | USD 9.2 billion |
| Projected Market Valuation in 2033 | USD 15.2 billion |
| Value-based CAGR 2023 to 2033 | 5.1% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Market Segments Covered | Product Type, Application, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Lubrizol Corporation; Chevron Oronite Company, LLC; BRB International BV; Vanderbilt Chemicals, LLC; Infineum International Limited; Afton Chemical; Lubrilic Corporation; . BASF SE; Evonik Industries AG.; The Lubrizol Corporation. |
As of 2023, the market for driveline additives is expected to be valued at USD 9.3 billion, as per FMI.
By 2033, the market value of driveline additives is expected to reach USD 15.2 billion.
From 2023 to 2033, driveline additive sales are expected to flourish at a CAGR of 5.1%
The transmission fluid additives segment will account for a market share of 59% in 2022.
The United States is likely the top-performing market and is expected to account for a share of 68.8% by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Transmission Fluid Additive 5.2. Gear Oil Additive 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Passenger Cars 6.2. Commercial Vehicles 6.3. Off-Highway Vehicles 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Lubrizol Corporation 17.2. Chevron Oronite Company, LLC 17.3. BRB International BV 17.4. Vanderbilt Chemicals, LLC 17.5. Infineum International Limited 17.6. Afton Chemical 17.7. Lubrilic Corporation 17.8. BASF SE 17.9. Evonik Industries AG 17.10. The Lubrizol Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
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Driveline Additive Market
