Global Lubricants Market – Overview
The global lubricants market is profiled in great detail in the latest research report from Market Research Future (MRFR), providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the lubricants market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory.
With a substantial CAGR in the forecast period, the global industrial lubricants market is anticipated to reach. Geographic revenue generation has resulted in industrial development and significant economic development. An analysis of the major players in the industry is also included in the report. It also discusses the main factors and geographic dynamics of the industrial lubricant sector and existing business developments. The study is concluded with a particular emphasis on the supply environment which provides comprehensive profiles of the main manufacturers of industrial lubricants in the global market. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the lubricants market’s growth trajectory over the forecast period are provided in the report. The leading players in the global lubricants market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global lubricants market. The major drivers and restraints affecting the global lubricants market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
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Global Lubricants Market – Prominent Players
PetroChina Company Ltd., Morris Lubricants, Indian Oil Corporation Limited, Calumet Specialty Products Partners, L.P, Quaker Chemical Corporation, AMSOIL INC., Valvoline, Inc., Sinopec Corporation, Lucas Oil Products, Inc., Phillips 66 Company, Yushiro Chemical Industry, Chevron Corporation, BP Plc, Exxon Mobil Corporation, Lukoil, Petronas, Clariant, Fuchs Petrolub SE, Rock Valley Oil and Chemical Co., Gulf Oil India, Royal Dutch Shell Plc, Total S.A., and others are noteworthy players in the ASEAN, GCC, India, Africa lubricants market. Players in the market are focusing on strengthening their supply chain by acquiring oilfields and expanding their product offerings to cater to demands from various industrial sectors.
Lubricants are substances used to reduce the generation of heat through friction between two work surfaces. Due to their benefits in reducing the wear and tear, lubricants are widely used in a wide array of applications, including industrial, automotive, marine, construction, and others. Lubricants also protect work surfaces from rusting and other types of corrosion, making them last longer than unlubricated work surfaces. Lubricants are mainly produced from petroleum. As a result, the production of lubricants is dependent on the availability of petroleum. The fluctuations in the price of petroleum are thus likely to be a key restraint on the global lubricants market.
The growing automotive industry is likely to be a major driver for the global lubricants market over the forecast period. The automotive industry has grown spectacularly in the last few decades due to the growing demand for passenger vehicles from emerging regions. This has driven the demand for a number of substances used in automotive industry operations, including lubricants. The growing construction industry is also likely to be a major driver for the global lubricants market over the forecast period.
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Lubricants Market – Segments:
The global lubricants market is segmented on the basis of type, application, and region.
By type, the global lubricants market is segmented into mineral oil, biobased, and synthetic lubricants. The biobased segment is expected to grow at a rapid growth rate over the forecast period due to the growing demand for biobased industrial products, including lubricants. Biobased lubricants pose no threat to the environment, as they can biodegrade naturally. This has made biobased lubricants a key part of the global lubricants market.
By application, the global lubricants market is segmented into automotive, marine, construction, industrial, and others. The industrial segment is further classified as metalworking fluids, general industrial oils, process oils, and industrial engine oils. The automotive segment is further classified as gear oil, passenger vehicle oils, heavy duty engine oils, hydraulic and transmission fluids, and others. The automotive segment is likely to dominate the global lubricants market over the forecast period due to the growing automotive industry.
Lubricants Market – Regional Analysis:
Asia Pacific dominates the global lubricants market and is likely to remain the leading revenue generator over the forecast period. The growing automotive industry in Asia Pacific is the major driver for the global lubricants market, as the automotive industry is the major consumer of lubricants. The construction and marine industries are also growing in Asia Pacific, leading to a growing demand for lubricants.
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1 Report Prologue
2 Market Introduction
2.2 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.2.1 Increasing Demand From The Automotive Industry In ASEAN & South Africa
4.2.2 Strong Performance Of Industrial Sector And Wide Application Scope Of Lubricants
4.2.3 Increasing Awareness Linked With Strict Governmental Regulations Surging The Sales Ofsynthetic Lubricants
4.3.1 Rising Environmental Concerns Regarding Usage, Disposal, And Recycling Of Lubricants
4.3.2 Increasing Prevalence Of Electric Vehicles Resulting In Declining Demand
4.4 Trends & Opportunities
4.4.1 Significant FDI In The ASEAN Industrial Sector
4.4.2 Sanguine Demand For Agricultural Equipment In African Region To Offer Lucrative Opportunities
4.5.1 High Cost Of Bio-Based Lubricants
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Lubriacants Producers
5.1.4 End Use Industries
5.2 Porter’s Five Forces Model
5.2.1 Bargaining Power Of Suppliers
5.2.2 Bargaining Power Of Buyers
5.2.3 Threat Of New Entrants
5.2.4 Threat Of Substitutes
5.2.5 Intensity Of Rivalry
6 ASEAN, Africa, India, & G.C.C. Lubricants Market, By Base Oil
6.1.1 Mineral Oil
18.104.22.168 Market Estimates & Forecast, 2020-2027
22.214.171.124 Market Estimates & Forecast By Region/Country, 2020-2027
6.1.2 Synthetic Oil
126.96.36.199 Market Estimates & Forecast, 2020-2027
188.8.131.52 Market Estimates & Forecast By Region/Country, 2020-2027
6.1.3 Bio Based Oil
184.108.40.206 Market Estimates & Forecast, 2020-2027
220.127.116.11 Market Estimates & Forecast By Region/Country, 2020-2027
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