Organic Friction Modifier Additives Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Organic friction modifier (OFM) additives are increasingly utilized in the lubrication of aviation, energy/ power, automobile, rail, and industrial components. OFM additives have the ability to make a huge difference to the tribological characteristics of the lubricant. Hence, organic friction modifiers are emerging as quite an essential additive in the lubrication of mechanical components along with particularly of automobile engines wherein performance enhancements are persistently sought-after. In the recent past, demand for OFM additives has been increased to a significant extent due to their benefits and superior functionality.

MARKET DYNAMICS

The organic friction additives market has witnessed significant growth owing to factors such as wider use in automobile lubricants, industrial lubricants, aviation lubricants, energy/ power generation lubricants, and rail lubricants. The aviation and automotive industry is continuously upgrading its lubricants to enhance the perforce of their vehicles. Furthermore, industries like power generation and also construction are investing a substantial amount in upgrading the lubricants used. All of these efforts are quite focused on the sole purpose of boosting the operational ability of the machines as well as organic friction modifier additives are one of the best modes to achieve the desired goals. However, greater availability of similar & cost-effective alternatives, including detergent additives, dispersant additives, oiliness agents, corrosion, and oxidation inhibitor anti-wear agents, among others, may hamper the growth of the organic friction additives market. Besides, fluctuations in oil prices along with uncertainties regarding upcoming policies, mainly in the oil & gas industry, continue to pose a threat to this market. Nevertheless, with the steady growth in the chemical processing industry and automotive industry, there are opportunities for the market players to invest in this market.

MARKET SCOPE

The "Global Organic Friction Additives Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the organic friction additives market with detailed market segmentation by additive type, end-user, and geography. The global organic friction additives market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading organic friction additives market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global organic friction additives market is segmented on the basis of additive type and end-user. The organic friction additives market on the basis of the additive type is classified into polymers, fatty acids, esters & amides, and others. On the basis of end-user, global organic friction additives market is bifurcated into automobile lubricants, industrial lubricants, aviation lubricants energy/ power generation lubricants, and rail lubricants.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global organic friction additives market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The organic friction additives market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the organic friction additives market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the organic friction additives market in these regions.

MARKET PLAYERS

The reports cover various key developments in the global organic friction additives market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from organic friction additives market are anticipated to lucrative growth opportunities in the future with the rising demand for organic friction additives in the global market. Below mentioned is the list of few companies engaged in the organic friction additives market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the organic friction additives market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Afton Chemicals Corporation
  
•   BASF SE
  
•   Cargill Inc.
  
•   Celanese Corporation
  
•   Chemtura Corporation (LANXESS Solutions US, Inc.)
  
•   Croda International Plc
  
•   Dow Chemical Company Limited
  
•   Eastman Chemical Co.
  
•   International Lubricants Inc.
  
•   Multisol Ltd
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Organic Friction Modifier Additives Report Scope