Increasing use of natural friction modifier (OFM) additives for lubrication of automobile, aviation, rail, industrial and electricity/ energy machinery additives is riding its demand throughout the globe. Future Market Insights (FMI)’s contemporary record well-known shows that the worldwide organic friction modifier additives market is set to surge at a steady CAGR of 4.Nine% during the forecast length (2017-2022).
As in step with the report, this market is predicted to attain a valuation of over US$ 500 Mn through 2022-end. OFM components make a large effect on the tribological attributes of the lubricant, growing its functionality and efficacy to a extensive volume. Moreover, OFM additives make sure smoother mobility of mechanical components, that is seriously important in airplanes, automobiles and numerous different industrial device. There has been a big increase in call for for OFM additives because of their benefits and overwhelming results.
Factors as such are anticipated to mirror favorably on the worldwide sales of OFM additives over the next couple of years. At the flip side, the increase of worldwide marketplace for OFM components is predicted to be impeded with the aid of advent of more low cost substitutes together with corrosion and oxidation inhibitor anti-wear retailers, detergent additives, dispersant additives and oiliness sellers among others.
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Insights from the Report also include:
Based on additive type, demand for polymers additives will remain relatively high as compared to additives such as fatty acids and esters & amides in 2017 and beyond. Global sales of polymer additives currently account for more than 34% revenue share of the market. In addition, over US$ 170 Mn worth polymer additives are estimated to be sold globally by the end of assessment period, exhibiting an impressive growth. Meanwhile, global sales of fatty acids and esters & amides additives will collective represent for the largest market share over 2022.
Based on end use, OFM additives is expected to remain crucial in automobile lubricants throughout the projection period. OFM additives used in automobile lubricants currently command for nearly 44% revenue share of the market. By the end of 2022, more than US$ 220 Mn worth OFM additives are expected to be used automobile lubricants. Use of additive in industrial lubricant in also projected to increase at a significant rate between 2017 and 2022.
Among regions, the OFM additive market is the Asia-Pacific excluding Japan (APEJ) region is projected to remain highly lucrative during the forecast period. Currently, the APEJ accounts for the largest market share in terms of revenue and is likely to continue its dominance in 2017 and beyond. Further, APEJ’s OFM additives market is expected to surge at a sound CAGR during 2017 to 2022 and reach a valuation of more than US$ 150 Mn. This mainly attributed to the growing demand for additive in emerging countries such as India and China, as they are undergoing an industrial revolution and experiencing an economic boom. Meanwhile, North America is expected to remain the second largest market for OFM additives over 2022.
Competitive Landscape
Some of the prominent market players profiled in FMI’s report include Dow Chemical Company Limited, Chemtura Corporation (LANXESS Solutions US, Inc.),BASF SE, Eastman Chemical Co., Celanese Corporation, Cargill, Inc., Croda International Plc., International Lubricants Inc., Afton Chemicals Corporation, and Multisol Ltd. Many of these companies are actively focusing on improving product efficacy and expanding production capacity in order to tap the market opportunities. In addition, partnership, collaboration and M&A activities will continue to be a major trend in the market. A majority of market participants are also inclining towards joint ventures and strategic deals to strengthen their sale and distribution network.
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Key Segments Covered
Additive Type
- Polymers
- Fatty Acids
- Esters & Amides
- Others
End User
- Automobile Lubricants
- Industrial Lubricants
- Aviation Lubricants
- Energy/ Power Generation Lubricants
- Rail Lubricants
Table of Content
1. Global Organic Friction Modifier Additives Market – Executive Summary
2. Global Organic Friction Modifier Additives Market Overview
3. Global Organic Friction Modifier Additives Market Analysis and Forecast By Additive Type
4. Global Organic Friction Modifier Additives Market Analysis and Forecast By End User
5. Global Organic Friction Modifier Additives Market Analysis and Forecast By Region
6. North America Organic Friction Modifier Additives Market Analysis and Forecast, By Country, 2012-2022
7. Latin America Organic Friction Modifier Additives Market Analysis and Forecast, By Country, 2012-2022
to be continued…!
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https://techplanet.today/post/pag-base-stock-market-size-share-demand-growth-trends-by-2033
https://www.xing.com/discover/detail-activities/6724207329.9d32ad
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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