FRICTION MODIFIER ADDITIVES MARKET ANALYSIS
The Friction Modifier Additives market is projected to reach around US$ 2601.9 million by the end of 2030, in terms of revenue, growing at CAGR of 8.1% during the forecast period (2023-2030).
Friction Modifier Additives Market: Market Trends
Increasing demand for friction modifier additives in aviation lubricants especially for gas turbines in aircraft is expected to foster the market growth. It ensures the maximum power output and cleanliness of modern transmission engines. Moreover, the growing demand for industrial lubricants in applications, such as transformers, tanks, and gearboxes, is expected to bolster the market growth of the friction modifier additives market over the forecast period.
Partnership and collaborations by key manufacturers in the Friction Modifier Additives market is a major trend. For instance, in March 2020, Red Line Synthetic Oil, a supplier of synthetic lubricants and additives, announced a new partnership with professional drag racing organization, Lex Joon Racing.
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