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Global Friction Modifiers Market Share, Size, Growth, Trends: By Type: Organic Friction Modifiers, Inorganic Friction Modifiers; By End User Industry: Automotive, Industrial, Marine, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments; 2024-2032
Global Friction Modifiers Market Outlook
The global friction modifiers market reached an approximate value of USD 1,039.52 million in 2023. The market is expected to grow at a CAGR of 3.5% in the forecast period of 2024-2032, to reach a value of USD 1,416.67 million by 2032.
Organic Friction Modifiers Segment Accounts for a Significant Share in the Global Market
Based on type, the organic segment accounts for a significant share in the market for friction modifiers and is anticipated to witness considerable growth in the forecast period. This can be attributed to the growing demand for organic polymeric friction modifiers, owing to the outstanding friction reduction in mixed sliding-rolling, thermal and oxidative stability, and anti-wear benefits.
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The excellent filming properties of the organic polymeric friction modifiers boosts the durability of a metal by increasing its potential to withstand wear. This factor makes it ideal for the automotive industry. In addition to this, organic polymer friction modifiers reduce the coefficient of friction to levels which conventional friction modifiers cannot reach.
The Asia Pacific Accounts for a Significant Share in the Market
The friction modifiers market in the Asia Pacific is driven by the growing demand for lubricants, owing to the thriving automotive industry in India, China, Japan and South Korea. The availability of major friction modifier brands in the region, coupled with the stable cost of raw materials is likely to augment the market in the forecast period. The market in the region will further be aided by the growing domestic demand for passenger and commercial vehicles in India and China.
Friction Modifiers: Industry Definition and Segmentation
Friction modifiers are polar molecules which are added to lubricants in order to reduce the coefficient of friction and improve lubricity. These molecules have a high energy affinity for metal surfaces and are known to increase the energy efficiency.
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Based on type, the market is segmented into:
- Organic Friction Modifiers
- Inorganic Friction Modifiers
The major end users industries of friction modifiers include:
- Automotive
- Industrial
- Marine
- Others
The regional markets for friction modifiers include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising Application of Friction Modifiers in the Marine Industry to Boost Market Growth
The global friction modifiers market is driven by the rising applications of friction modifiers in the marine industry. This is owing to the growing demand for marine lubricants for the main engine of the ship which in-turn cools and lubricates the internal parts.
Friction modifiers are required not only for cooling, but also to remove any debris or impurities. Additionally, the thriving sea trade in different parts of the world is likely to harness the demand for frictional modifiers. The rising demand for industrial lubricants, owing to the rapid industrialisation and urbanisation in emerging economies, is likely to provide impetus to the market growth.
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Key Industry Players in the Global Friction Modifiers Market
The report gives a detailed analysis of the following key players in the global friction modifiers market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BASF SE
- Lubrizol Corporation
- Croda International Plc
- Chemtura Corporation
- Afton Chemical Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End User Industry |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Friction Modifiers Market Analysis
8.1 Key Industry Highlights
8.2 Global Friction Modifiers Historical Market (2016-2020)
8.3 Global Friction Modifiers Market Forecast (2021-2026)
8.4 Global Friction Modifiers Market by Type
8.4.1 Organic Friction Modifiers
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Inorganic Friction Modifiers
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Friction Modifiers Market by End User Industry
8.5.1 Automotive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Industrial
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.5.3 Marine
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2016-2020)
8.5.3.3 Forecast Trend (2021-2026)
8.5.4 Others
8.6 Global Friction Modifiers Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 BASF SE
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Lubrizol Corporation
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Croda International Plc
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Chemtura Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Afton Chemical Corporation
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Others
12 Industry Events and Developments
List of Figures and Tables
1. Global Friction Modifiers Market: Key Industry Highlights, 2018 and 2032
2. Global Friction Modifiers Historical Market: Breakup by Type (USD Million), 2016-2020
3. Global Friction Modifiers Market Forecast: Breakup by Type (USD Million), 2021-2026
4. Global Friction Modifiers Historical Market: Breakup by End User Industry (USD Million), 2016-2020
5. Global Friction Modifiers Market Forecast: Breakup by End User Industry (USD Million), 2021-2026
6. Global Friction Modifiers Historical Market: Breakup by Region (USD Million), 2016-2020
7. Global Friction Modifiers Market Forecast: Breakup by Region (USD Million), 2021-2026
8. North America Friction Modifiers Historical Market: Breakup by Country (USD Million), 2016-2020
9. North America Friction Modifiers Market Forecast: Breakup by Country (USD Million), 2021-2026
10. Europe Friction Modifiers Historical Market: Breakup by Country (USD Million), 2016-2020
11. Europe Friction Modifiers Market Forecast: Breakup by Country (USD Million), 2021-2026
12. Asia Pacific Friction Modifiers Historical Market: Breakup by Country (USD Million), 2016-2020
13. Asia Pacific Friction Modifiers Market Forecast: Breakup by Country (USD Million), 2021-2026
14. Latin America Friction Modifiers Historical Market: Breakup by Country (USD Million), 2016-2020
15. Latin America Friction Modifiers Market Forecast: Breakup by Country (USD Million), 2021-2026
16. Middle East and Africa Friction Modifiers Historical Market: Breakup by Country (USD Million), 2016-2020
17. Middle East and Africa Friction Modifiers Market Forecast: Breakup by Country (USD Million), 2021-2026
18. Global Friction Modifiers Market Structure
Key Questions Answered in the Report
In 2023, the global friction modifiers market attained a value of nearly USD 1,039.52 million.
The market is estimated to grow at a CAGR of 3.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1,416.67 million by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising demand for friction modifiers in the marine industry, growing demand for passenger and commercial vehicles, and rapid industrialisation in the emerging economies.
The rising investments in the research and development activities aimed towards upgrading the friction modifiers in order to keep up with the advancements in its end use industries, is expected to be a key trend guiding the growth of the industry.
Organic friction modifiers and inorganic friction modifiers are the major types of friction modifiers.
Automotive, industrial, and marine, among others are the different end users in the market.
The major players in the industry are BASF SE, Lubrizol Corporation, Croda International Plc, Chemtura Corporation, and Afton Chemical Corporation, among others.
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