Driving innovation: Expanding portfolios, eco-friendly solutions, and regional growth shape the future of the Driveline Additives Market.

ROCKVILLE, MD, UNITED STATES, January 20, 2025 /EINPresswire.com/ -- The Driveline additives market was valued at US$ 10,496.1 million in 2024 and expected to reach a valuation of US$ 17,425.5 million in 2034. Fact.MR’s extensive study shows that the market will expand at a growth rate of 5.2% from 2024 to 2034.

The market driveline additives are a key segment within the automotive and industrial lubricants category, constituting a significant factor in enhancing the performance and service life of transmission systems and their components. These chemical formulations are engineered to improve the properties of lubricants, reduce friction, prevent wear, and provide a smooth application. The sector has progressed with the changes in automotive technology in meeting the unique requirements of electric and hybrid vehicles, notwithstanding their traditional internal combustion engine counterparts.

Increasing vehicle production is one of the major factor driving market growth, whereas other factors include rising demand for high-performance lubricants and expanding industrial automation in developing economies. Manufacturers are highly focused on the development of eco-friendly additives that are meeting the relevant performance level to address both optimal performance measure and environmental concern.

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Key Takeaways from Market Study

Driveline additives market will grow at a CAGR of 5.2% reaching US$ 17,425.5 million by the end of 2034.
North America will expand at a CAGR of 5.6% from 2024 to 2034, capturing 24.9% of the market share in 2024 and offering an absolute opportunity of US$ 1,899.7 million.
East Asia will account for 25.6% of market share in 2024, generating an absolute dollar opportunity of US$ 1,808.8 million between 2024 and 2034.
Between 2024 and 2034, commercial vehicles classification is expected to produce an absolute dollar opportunity US$ 2,314.6 million.
With a 9% market share, gear oil additives by type is estimated to be worth US$ 5,972.3 million in 2024.

Driveline additives market is undergoing massive evolution, where manufacturers focus on sustainable formulations and performance characteristics. This shift is compelling innovation in the eco-friendly solution while keeping up with the demanding requirements of modern automotive and industrial applications”, says a Fact.MR analyst.

Market Development

The companies are regularly acquiring smaller regional players to access new markets and technologies. They form strategic partnerships with automotive manufacturers for developing customized solutions. These approaches help them to adapt to better environmental regulations while meeting a growing demand for better-performing vehicles in developed and growing markets.

Key companies like as AB Petrochem Pvt. Ltd, Afton Chemical Corporation, BASF SE, BRB International BV, Chevron Oronite Company LLC, Evonik Industries, Infineum International Ltd, Lubrilic Corporation, The Lubrizol Corporation, Vanderbilt Chemicals LLC, VPS Lubricants and other market players are propelling the market growth.

Industry News:

March 2024: BRB International broadens its driveline additives portfolio by acquiring specialized formulation technology from a leading European manufacturer. This strategic move strengthens the company’s focus on sustainable additives tailored for electric vehicle applications.

January 2024: Lubrizol Corporation unveils an innovative, eco-friendly driveline additive package designed for electric vehicle transmissions. The new product offers exceptional thermal stability and wear protection, aligning with stringent environmental standards.

June 2023: BASF-PETRONAS Chemicals expands its driveline additives production capacity in Malaysia to address the growing demand across Southeast Asia. The investment includes advanced testing facilities and enhanced technical support capabilities.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global driveline additives market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights based by Type (Transmission Fluid Additives, Gear Oil Additives), by Application (Passenger Car, Commercial Vehicles, Off-highway Vehicle), by Additive (Dispersants, Viscosity Index Improvers, Detergents, Anti-wear Agents, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Emulsifiers, Other Additives), and across major seven regions of the world.

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