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

Regional Analysis

Geographies covered:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, ASEAN, OCEANIA, and Rest of Asia Pacific
Middle East & Africa: South Africa, GCC, Rest of Middle East & Africa

Global Driveline Additives Market: Regional Analysis

Asia Pacific region dominated the global driveline additives market in 2022, accounting for 32% share, in terms of value, followed by North America and Europe.

Growing automotive industry in the region is expected to boost demand for driveline additives in Asia Pacific region. Due to the region's expanding economy and population, the automotive industry in Asia Pacific is growing. Furthermore, rising disposable income in the region has increased consumer spending on vehicles that resulted in increasing demand for driveline additives. Significant economic expansion, expansion of the automotive industry, and rising industrialization China has the largest market share in the region. Increased demand from the automotive industry is expected to drive the global driveline additives market growth.

North America is expected to be the second-largest market for driveline additives. North America and Europe's automotive industries are demand for driveline additives is expected to be driven in these regions by the replacement demand for automotive driveline fluids. During the forecast period, Driveline additives are anticipated to witness the fastest the markets in the Middle East and Africa, as well as Latin America.