Driveline Additives Market- Covid-19 Impact, Trend Analysis, Revenue, Growth

Posted by mandar on March 25th, 2021

Driveline additives are designed to optimize automotive performance. In order to achieve optimal lubrication, proper knowledge of both equipment and properties of the base fluids and additives is necessary. Additives added to transmission fluid formulations or gear oils decrease friction and eliminate heat. High-pressure anti-wear additives are used to prevent equipment failure and downtime caused by scuffing, wearing, spalling, pitting, scoring, and other types of distress. Protection against oxidation, thermal degradation, rust, copper corrosion, and foaming is also provided by driveline additive.

The driveline additives market is driven by the increasing need for extended service drain breaks for axle fluids and transmission fluids, growth in vehicles production, rise in consumer preference toward improving fuel efficiency of vehicles, and increase in on-road and off-road vehicle parc. The global driveline additives market is expected to expand significantly in the near future, owing to the implementation of stringent emission regulations globally and continuous requirement for hardware durability. The automobile industry is driven by the rising demand for automobiles in developing economies such as China and India. This, in turn, is boosting the requirement for finished lubricants, thereby increasing the demand for driveline additives.

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The driveline additives market is constantly changing owing to the continuous evolution of the driveline industry. Developments such as increased vehicle production, emissions legislation, and globalization and localization, especially in India, have a significant impact on the industry driveline lubricant needs. However, fluctuating raw material prices and high cost of driveline additives as compared to conventional additives are expected to hinder the market.