The Worldwide Driveline Additives Industry is Expected to Reach $10.7 Billion by 2031 - ResearchAndMarkets.com
The "Driveline Additives Market By Product Type, By Vehicle Type, By Additive Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Oct 28, 2022--
The "Driveline Additives Market By Product Type, By Vehicle Type, By Additive Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global driveline additives market was valued at $7.4 billion in 2021, and is projected to reach $10.7 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
Driveline additives are designed to optimize automotive performance. In order to acquire greatest lubrication, right information of each device and properties of the base fluids and additives is necessary. Additives added to transmission fluid formulations or tool oils decrease friction and eliminate heat. High-strain anti-wear additives are used to prevent equipment failure and downtime caused by scuffing, wearing, spalling, pitting, scoring, and different types of distress. Protection against oxidation, thermal degradation, rust, copper corrosion, and foaming is provided by driveline additives.
