Driveline Additives Market, By Product Type (Transmission Fluid Additives and Gear Oil Additives), By Application (Passenger Cars, Commercial Vehicles, and Off-highway Vehicles), and By Region (North America, Europe, Asia Pacific, Latin America, Europe, and Middle East & Africa)

Published In : May 2023

Code : CMI3251

Pages :120

Formats :

Excel and PDF

Industry : Bulk Chemicals

Market Challenges And Opportunities

Global Driveline Additives Market: Restraints

Fluctuating Prices of Driveline Additives and Increasing Adoption of the Hybrid Electric Vehicle

Fluctuating prices of driveline additives around the globe has negatively impacted the market growth. Driveline additives' market expansion is predicted to be hampered by the inconsistent supply of raw materials and the overall effects of higher crude oil prices. Moreover, strict export/import laws and regulations are restricting trading around the globe. This factor is also expected to restrict the market growth of driveline additives.

Increasing adoption of the hybrid electric vehicle due to strict emission norms is expected to hamper the market growth of driveline additives. The hybrid electric vehicle is powered by a battery, and thus, are fuel-efficient. The government of various countries are taking initiatives to promote the usage of hybrid electric vehicles, and this is expected to restrict the usage of driveline additives.