Global Market Research Reports : Ken Research: Global Lubricants Market Analysis

Wednesday, August 24, 2022

Lubricants Market Growth Is Fostered By Growing Sales Of Vehicles: Ken Research

Lubricant is a friction-reducing film between moving objects and assists in decreasing the heat generated. Lubricant functions such as transmitting forces, transporting foreign particles, and heating and cooling surfaces. relying on the nature of lubricants, they are utilized to eliminate heat and wear debris, supply additives into the contact, transmit power, safeguard, and seal.

According to the report analysis, ‘Lubricants Market: Current Analysis and Forecast (2021-2027)’ states that global requirement of lubricants is augmenting at a moderate rate due to saturated industrial segment and slow growth in automotive sector. However, throughout the past couple of decades automotive and industrial segments were the foremost factors for the growth of lubricating oil market due to the growing industrialization around the globe and increasing consumer buying power thus resulted in greater sales of automobiles.

Based on base oil, the market is classified into group I, group II, group III, group IV, and group V. Among these, Group II base oil registered for the lucrative market share during 2020 and is probable to retain its position throughout the forecast duration owing to its greater efficiency and lower emission relative to group I base oil. Further, industries are finding easy to transfer from group I base oil to group II base oil by transforming in work techniques, work with new base oil producers, and changing equipment. As a result, penetration of lube oil has been augmented in the industries.

Based on product type, the Global Lubricants Market is classified into engine oil, general industrial oil, metalworking oil, grease, transmission and hydraulic fluid oil, gear oil, process oil, and others. Among these, engine oil category controlled the significant market share due to large base of automobiles and growing demand of automobiles in underdeveloped regions like Asia Pacific because of growing purchasing power of population. Further, augmenting the automotive emission regulation is predicted to fuel the market of lubricants around the globe, as lubricant decrease wear and tear of equipment thus advancing the performance of automobiles.

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In addition, in the regular car, trucks, and motorbike divisions of the automotive industry, grease lubricants are commonly utilised in diesel engine, gearboxes, and transmission lines. And over the projection duration, growing vehicle sales are predicted to boost the global lubricants market growth. Regions like India, China, the United States, and Brazil are principally accountable for the growth in vehicle sales around the globe strengthening their lubricants market share indirectly.

The speedy expansion of specialised manufacturing industries such as 3D printing and medical devices is predicted to complement the lubricants market future trends during the coming days. Therefore, it is predicted that the growing industrialization by implementing the emerging technologies and robotics would also augment the sales of lubricants, which will then support the enlargement of the global lubricants industry. Therefore, it is predicted that during the near future the market of lubricant will augment more proficiently around the globe over the review duration.

For More Information, refer to below link:-

Global Lubricants Market Research Report

Lead Acid Battery Market: Current Analysis and Forecast (2021-2027)

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Friday, October 22, 2021

UAE Lubricants Market is anticipated to augment owing to increase in demand for lubricants from importing countries accompanied by augment in crude oil prices: Ken Research

Lubricants are fluids, greases, or oils that decrease the friction amongst two surfaces when they are in mutual contact. Such fluids play an essential role in automotive and industrial applications, as they support deduct friction among the functioning portions. They are also utilized to safeguard the machinery portions from thermal stability, corrosion and oxidation.

Over the period of time, increasing competition amongst the foremost industry leaders is supporting the market growth. Foremost producers are robustly contributing in the worldwide to stay ahead of the competition.

UAE Lubricants Market Outlook to 2022 - By Automotive (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Greases and Transmission Fluids) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils, Greases, Compressor Oils, Turbine Oils and Transformer Oils)

In addition, the worldwide automotive supply industry is seriously impacted by the COVID-19 crisis, as both the introduction and sales of motor vehicles came to a sudden halt in most of the economies. Such function stoppages led to a loss in the introduction of millions of vehicles around the globe. In the short term, a foremost aspect propelling the market studied is the growing requirement for high-performance lubricants due to their better and advanced properties, likewise decreased flammability, decreased gear wear, and augmented services duration.

Whereas, UAE lubricant market is at mature stage. Domestic and international players have supplied to the requirement of lubricants that led to augment in market revenue. Synthetic lubricants which have observed an increase in requirement as they deliver the better protection to engine and machinery and augment engine performance in changing conditions. The growth in exports till the year 2015 was largely accredited to increase in requirement for lubricants from importing countries accompanied by augment in crude oil prices. However, post 2015, the market has significantly declined due to effects of oil slump which led to deduction in the prices of lubricants.

ADNOC and Total are the principal players in UAE Lubricant Market who sold momentous volume of lubricants during 2017. Shell and Caltex were the next principal players in UAE domestic lubricant market. ADNOC has large existence in UAE and it can cater to a great captive audience while total has its own blending plant around UAE owing to which it can supply large capacity of lubricants around UAE. Several small players have taken a sizeable market share during 2017.

Based on end users, construction industry expended maximum number of industrial lubricants which are demanded for lubrication of heavy machinery that is primarily utilized in this industry. Power generation segment which typically demands transformer oils and engine oils is the next greatest consumer of industrial lubricants and manufacturing segment registered for smaller share of lubricant consumption around the country.

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Based on application, Heavy duty diesel engine oils and passenger car motor oils registered the market of automotive lubricants during 2017. Augment in sales of new cars and robust growth in pre-owned vehicles market of emerging economies has supported in increasing sales of motor oils. Transmission fluids observed a low market share which is owed to the fact that such oils are substituted after vehicles travel a distance greater than 60,000 miles. Hydraulic oils, gear oils and greases have taken the outstanding market share.

The UAE Lubricants market is projected to augment positively from 2017 to 2022 in terms of production volume. Augment in service station network will reinforce the distribution channel in UAE so as to augment market share of foremost players such as ADNOC. Automotive lubricants will register the market and requirement of synthetic lubricants will augment as these lubricants deliver enhanced engine protection and increase car performance. The share of industrial lubricants is projected to rise in both domestic and export market of lubricants in the wake of mega events such as Expo 2020 which brings great projects such as Healthcare city and Deep tunnel storm water system around country and speedy industrialization in lubricant importing nations.