Friction Modifiers Market

1. Friction Modifiers Marketwas valued at $ 815.6 million in 2021 and is predicted to reach $ 1,004.7 million in 2026, with a CAGR of 3.1% during the foreseen period. Friction Modifier is a fuel additive commonly used in boundary lubricant applications to reduce the coefficient of friction and improve the lubricity and energy efficiency. They are polar chemical compounds having high affinity for metal surfaces and possessing long alkyl chains; these are the main factors that have considerably increased the demand for the Friction Modifier in the market, thereby driving the huge growth of the Friction Modifier market in the upcoming years Market Drivers and Restrains: The main factors that have considerably increased the demand for the Friction Modifier in the market is mainly due to the growing automotive industry and vehicle parking, as well as rising consumer preference for vehicle maintenance, are expected to drive the friction modifiers market over the forecast years. Rising demand for fuel-efficient lubricants, favorable government regulations for green procurement policies and easy availability of raw materials are all expected to drive the market forward in the coming years; these are the main factors that have considerably increased the demand for the Friction Modifier in the market, thereby driving the huge growth of the Friction modifier market in the upcoming years Browse for full report @ https://www.marketdataforecast.com/market-reports/friction- modifiers-market Report is segmented as: Friction Modifiers Market is segmented on the basis of by: •By Type (Organic and Inorganic), •By Application (Transportation Lubricants and Industrial Lubricants) Geographical Segmentation: Friction modifier Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Friction modifier is due to the Rise in the disposal income and rapid urbanization these are the main factors that have considerably increased the demand for the Friction modifier in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Friction modifier Market Ask for a sample report @ https://www.marketdataforecast.com/market-reports/friction- modifiers-market/request-sample

2. Impact of COVID-19 on Market Covid -19 pandemic has affected the growth of business of every sector and it also affected the growth of the Friction modifier market, and temporary lack of growth in export and import activities, which has impacted the rays of Friction modifier market growth. Covid-19 pandemic has impacted huge on the sales revenue of Friction modifier market. Due to the government restrictions like lockdown in many countries has shut down the commercial and industrial establishments and also stopped in transportation these made huge loss for Friction modifier market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus. About Us: Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs. Contact Us: Market Data Forecast Phone: +1-888-702-9626 Email: contact@marketdataforecast.com