Lubricants Market Research Report Analysis

Business / Lubricants Market / By /

Global Lubricants Market

Growth Opportunities in the global lubricants market look promising over the next six years. The increasing demand for lubricants from the automotive sector and the growth in the sales of passengers and commercial vehicles are key factors driving the growth of the global lubricants market.

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Introduction of the Lubricants Market:

A substance that is used to maintain the wear & tear and friction of the surfaces in contact with the bodies in relative motion is called lubricants. The key function of the lubricants is to create a vicious and shearable layer among the sliding surfaces. Based on nature, lubricants can be divided into internal and external lubricants. This process also supports reducing the oxidation of objects and prevents rust.

Lubricants Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)`

The development in the industrial sector across several developing countries driven by growing GDP and disposable income are the factors surging the growth of the global lubricants market size. An upsurge in the R&D activities and technological advancements to develop advanced lubricants with the capability to reduce the frictional losses will bring various growth opportunities in the market. Moreover, the emerging demand for automobiles is fuelling the demand for lubricants to reduce friction and prevent wear & tear in the automotive engine components.

The continuous increase in urbanization is boosting the manufacturing sector, thus enhancing the demands for lubricants industry globally. Furthermore, the increasing shift towards the adoption of renewable energy is leading to an upsurge in demand for lubricants. The emerging demand of the market owing to the growing demand for high-performance engines. On the other hand, the growing demand for hybrid vehicles and rigorous rules for the environment by the government is hampering the growth of the market.

Based on the region, the Asia-Pacific region is projected to grow at a higher CAGR during the forecast period due to the rising adoption of lubricants driven by the growing population & disposable income and the development in the industrial sector include textiles, chemicals, and others. Additionally, the increasing demand for lubricants from the automotive sector and the growth in the sales of passengers and commercial vehicles are some other drivers propelling the growth of the lubricants market in this region.

Key Players of the Global Lubricants Market:

  • Exxon Mobil Corporation
  • Royal Dutch Shell
  • Chevron Corporation
  • bp p.l.c.
  • PetroChina Company Limited
  • Total
  • China Petrochemical Corporation
  • Idemitsu Kosan Co., Ltd.
  • JXTG Holdings, Inc.
  • FUCHS

Lubricants Market Segmentation:

Segmentation by Base Oil:
  • Synthetic Lubricants (Group Iv, V)
  • Mineral Oil Lubricants (Group I, Ii, Iii)
  • Bio-Based Lubricants
Segmentation by Product Type:
  • Hydraulic Oil
  • Engine Oil
  • Gear Oil/Transmission Fluid
  • Metal Working Fluid
  • Grease
  • Compressor Oil
  • Turbine Oil
  • Others
Segmentation by End-Use Industry:
  • Industrial
    • Metal & Mining
    • Construction
    • Power Generation
    • Cement Production
    • Chemical
    • Automotive (Vehicle Manufacturing)
    • Textile
    • Oil & Gas
    • Food Processing
    • Others
  • Transportation
    • Passenger Vehicle
      • 2-Wheeler
      • 4-Wheeler
    • Commercial Vehicle
    • Marine
    • Aviation
    • Railway
Segmentation by Region:
  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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