The global driveline additive market size, currently valued at USD 9.3 billion in 2023, is projected to grow to USD 15.2 billion by 2033, registering a steady CAGR of 5.1% during the forecast period. This market is expected to outpace conventional lubricant additives due to the expanding use of driveline additives in both on- and off-road applications.
The increasing demand for driveline additives in off-road sectors such as agriculture, construction, mining, and forestry is a significant growth driver. Additionally, Original Equipment Manufacturer (OEM) requirements for extended drain intervals, enhanced fuel efficiency, and improved temperature stability will further stimulate market expansion.
Engine oil additives are gaining prominence in passenger vehicles, as they contribute to reducing emissions, enhancing engine longevity, and improving fuel economy—all factors that boost market demand. Furthermore, growing environmental awareness and regulations supporting eco-friendly lubricants are expected to promote the development and adoption of sustainable driveline additives.
The rise in urbanization and industrialization in emerging economies is also driving the demand for transportation and industrial machinery, creating lucrative opportunities for the driveline additives market.
Key Takeaways:
- From 2018 to 2022, the driveline additive market grew at a 4.0% CAGR.
- The transmission fluid additives segment is anticipated to dominate, holding 59% of the market during the forecast period.
- The UK driveline additive market is expected to grow at a 4.9% CAGR from 2023 to 2033.
- In the US, the market will expand at a 5.0% CAGR during the same period.
- China’s market is projected to grow at a value CAGR of 4.8% between 2023 and 2033.
- India’s driveline additives market is expected to record a 4.5% CAGR by 2033.
Report Preview: https://www.futuremarketinsights.com/reports/driveline-additives-market
Competitive Landscape:
The global driveline additives market is highly consolidated, with tier-1 companies holding nearly 50% of the market share. Key industry players include The Lubrizol Corporation, BASF SE, and Chevron Oronite Company, LLC. These companies are focused on strategic expansions, collaborations, and innovation to gain market share. Additionally, they are investing in new manufacturing facilities and expanding their presence in emerging markets to strengthen their global footprint.
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
Market Segmentation
By Product Type:
- Transmission Fluid Additive
- Gear Oil Additive
By Application:
- Passenger Cars
- Commercial Vehicles
- Off-Highway Vehicles
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube