The Global Lubricants Market is poised to grow at a robust rate reaching $18 Bn by 2026. Will it sustain? : Ken Research

 Buy Now

Global Lubricants Market Ecosystem

Global Lubricants Market is concentrated among the top 10 players. The top companies have been utilizing competitive strategies and investments to retain and expand their shares. The players are competing on the basis of Geographies covered, brand awareness, retention rate & price of the product. The major companies dominating the Global Lubricants market for its products, services, and continuous product developments are Exxon Mobil Corporation, Chevron Corporation, BP p.l.c., Shell plc, and Total Energies among others.

1.“High expectations from industrial sector:” Will it be leading the market growth in upcoming years?

Interested to Know More about this Report, Request for a sample report

With the rising cost of powering industrial activities, the industrial sector is making effort to cut down energy consumption & energy costs. Engine parts that are not properly lubricated are more prone to friction & ultimately damage which means that they use more fuel, resulting in more pollution. The global industrial lubricants market recorded demand generation of 15,017 kilotons in 2015 and is projected to rise to 19,477.6 kilotons by 2024. A good grade product helps reduce damage by reducing friction & enhancing machine efficiency. Rapid industrialisation is expected to propel growth in upcoming years.

2.“Synthetic lubricants becoming a priority:” The growing demand for synthetic lubricants, especially in Europe, is anticipated to aid global market growth.

Visit this Link :- Request for custom report

The global demand for synthetic lubricants has been on rise & has picked up pace due to rising awareness about alternatives for mineral oil lubricants. Moreover, synthetic varieties have grown in popularity due to their better efficiency than natural mineral oil. They have largely begun to replace natural mineral oil as the preferred choice in various sectors that demand high consistency levels. Moreover, the segment is anticipated to register a robust growth in the upcoming years, especially in Europe wherein stringent regulations on CO2 emissions have been placed, thereby serving as a catalyst for the market. Moreover, increasing investment in blending plants for synthetic lubricants in Russia & Netherlands is also driving the market in Europe. USA is another region wherein the demand for synthetic lubricants is at an all-time high.

Market Taxonomy

By Type of Application

• Industrial
• Automotive
• Others

By Type of Lubricant (Industrial Lubricant)

• Engine Oil
• Turbine Oil
• Hydraulic Oil
• Compressor Oil
• Transformer Oil
• Greases
• Industrial gear Oil
• Metal Working Fluids
• Others

By Grade (Industrial Oil)

• Mineral Oil
• Semi-synthetic Oil
• Synthetic Oil

By Type of End Use (Industrial)

• Power Generation
• Construction & Mining
• Transportation
• Metal production
• General Manufacturing
• Food Industry
• Commercial
• Others

By End-use of Lubricant (Automotive)

• Commercial Vehicle
• Passenger Car
• Motor Cycle
• Marine
• Others (Aviation, Railway)

By Type (Automotive)

• Passenger car Motor Oil
• Heavy Duty Diesel Engine Oil
• Hydraulic Oil
• Gear Oil
• Greases

By Grade (Automotive)

• Mineral Oil
• Synthetic Oil
• Semi-Synthetic Oil

By Geography

• Asia Pacific
• Europe
• Latin America
• Africa
• Middle East
• North America

Key Target Audience

• Lubricants Manufacturers
• Lubricants Distributors
• Base-oil Companies
• Additive Companies
• Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• Metal Production Industry
• Power Generation Industry
• Food Processing Industry
• Agriculture Industry
• Medical Industry
• Automotive OEMs

Time Period Captured in the Report:

• Historical Period:2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

Key Players Covered 

• Petromin
• Castrol
• Exxon Mobil
• Chevron
• Fuchs
• Petronas
• Saudi Aramco
• Valvoline
• Royal Dutch Shell Plc
• Total Group
• ENEOS Corporation
• AMALIE Oil
• BP Plc
• PetroChina Company Ltd.

For More Insights On Market Intelligence, Refer to the Link Below: –

Global Lubricants Market

Related Reports by Ken Research: –

UK Lubricant Market Outlook to 2027

Nigeria Lubricants Market Outlook 2027F

Mexico Lubricants Market Outlook to 2027F

Global Lubricants Market Is Growing At A CAGR Of ~% In 2017-2022 And Is Expected To Reach USD ~ Bn By 2027 – Ken Research

                                                                                                                         Buy Now

What Is The Size Of Global Lubricants Industry?

The Global Lubricants Market is largely driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles.

But, the rapid spread of coronavirus across the globe and enforced lockdown in country have had a negative impact on the global Lubricants market. The blow faced by automotive manufacturers was felt by the lubricants industry as the demand for vehicles dropped significantly during the pandemic, ultimately impacting the demand for lubricants.

After the successful recovery of businesses, manufacturers in the automotive market are marking their presence in the market, increasing the demand for lubricants. Major players operating in the automotive market are investing and expanding their services to fulfill rising demands from consumes.

Also, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possible hinder market growth.

To Know More about this report, download a Free Sample Report

Global Lubricants Market by Application

The Global Lubricants market is segmented by application into Industrial & automotive market. There is a preference towards the automotive sector owing to the increased sales of consumer automobiles, such as buses, trucks, and other forms of passenger transport.

Global Lubricants Market by Type of Industrial Lubricant

The Global Lubricants market is segmented by type of lubricant into Engine Oil, Turbine Oil, Hydraulic Oil, Compressor Oil, Transformer Oil, Greases, gear oil, Metal Working Fluid, motor oil, diesel engine & others. Engine oil is projected to dominate the Global lubricants market in the upcoming years. The wide usability in transportation & industrial sector are the driving factors for engine oil. In addition to it, engine oil finds wide usability in construction vehicles in construction industry.

Global Lubricants Market by Type of Grade (Industrial Lubricant)

The Global Lubricants market is segmented by type of Grade into Mineral Oil, Synthetic Oil, Semi-Synthetic Oil. Mineral oil is projected to dominate the Global lubricants market in the upcoming years owing to its wide availability & low price. However, synthetic oil is anticipated to grow at a robust CAGR during the forecasted period.

Visit This link:- Request for Custom Report

Global Lubricants Market by Type of Geography

The Global Lubricants market is segmented by type of Geography into Africa, Asia Pacific, Europe, Middle East, Latin America. Asia Pacific is expected to hold the largest share of the market. As per projections, the region will be a prime location for the lubricants business, owing to its growing population rate, expanding industrial investment, & infrastructure development, mostly in China, India & Indonesia.

Global Lubricants Market by Type of Grade (Automotive Lubricant)

The Global Lubricants market is segmented by type of Grade into Mineral Oil, Synthetic Oil, Semi-Synthetic Oil. Mineral oil is projected to dominate the Global lubricants market in the upcoming years owing to its wide availability & low price. However, synthetic oil is anticipated to grow at a robust CAGR during the forecasted period.

For more insights on the market intelligence, refer to the link below:-

Global Lubricants market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

The COVID-19 Pandemic Dealt a Heavy Blow to the Global Lubricants Market in 2021, with Revenue at Over USD 120 Bn: Can the Industry Expect a Strong Recovery or a Slow Climb? — Ken Research

 Buy Now

1. “Demand for green fuel:” An initiative that can affect the lubricants market negatively.

To Know More about this report, download a Free Sample Report

The automotive industry contributes significantly to consumption & ultimately the growth of the global lubricants market. However, as the demand for crude oil grows, so do environmental concerns. Consumers all over the world are becoming more interested in electric vehicles. Additionally, as the technology advances, the pros of having an electric vehicle will become clear. Electric vehicle adoption is expected to slow down the industry growth. According to International Energy Agency, “sales of electric vehicles have doubled in 2021 with an overall count of 6.6 million & have accounted for 10% of global car sales.” Moreover, China accounted for 3 million sales of electric vehicles in 2020, by 40% in 2019 & is expected to capture a bigger share of the market in upcoming years.

However, from a broader perspective, renewable energy can also benefit the lubricant market, the potential sub segment of the power generation market is renewable energy sector. In terms of total energy, wind power generation which uses lubricants to a large extent, currently makes up a very small portion, but, according to the world energy association, the market is expanding at the rate of 10% annually & had a capacity of 596,566 megawatts. Lubricants are thus necessary for the sector.

2.” COVID Hit:” Damage inflicted on automotive segment felt by the lubricants market as well.

Visit This link:- Request for Custom Report

The global automotive supply industry is heavily impacted by the COVID-19 crisis, as both the production and sales of motor vehicles came to a sudden halt in most of regions. The lockdown impacted the transportation sector, resulting in the low movement of commercial and passenger vehicles across the globe. In China, according to the International Council on Clean Transportation, there was a 23% decrease in the sales volume of new passenger cars in 2020 as compared to the first half of 2019. These work stoppages led to a loss of production of millions of vehicles across the world. Moreover, as per International Organization of Motor Vehicle Manufacturers, global vehicle manufacturing dropped by 16% directly impacting the demand for automotive lubricants. All these factors negatively impacted the lubricants market during the COVID-19 pandemic.

However, as automotive, marine, chemical & oil & gas markets rebound from the pandemic shock waves, the lubricants market will also grow subsequently. The growth, however, will be steady at first & is then expected to grow at a fast pace.

For more insights on the market intelligence, refer to the link below:-

Global Lubricants Market

Follow Us

Facebook | Twitter | LinkedIn | Instagram

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

Buy Now

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.

Request For Sample Report- http://kenresearch.com/sample-report.php?Frmdetails=NTIyMjY4

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

Related Reports

Formaldehyde Market: Current Analysis and Forecast (2021-2027)

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

Follow Us

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-

Ken Research                                                                                           

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

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.

Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=MTY3NzQ5

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.

For More Information, refer to below link:-

UAE Lubricant Market Research Report

Related Reports

UAE LED Lighting Market Outlook to 2023- By LEDs Lamps (LED Reflectors, LED Tubes, Others); Luminaires (Downlights, Troffers, Outdoor Area Lights, Roadway Fixtures, Spot Lights and Other Luminaires), By Usage (Indoor and Outdoor), By End Users

UAE Nutritional Supplements Market Outlook to 2023 - by Vitamins & Dietary Supplements (Protein Supplements, Non-Herbal Dietary Supplements Composites, Fish Oils/Omega Fatty Acids, Glucosamine, Co-Enzyme Q 10, Herbal Dietary Supplements Composites, Yeast, Garlic, Ginko Biloba), Functional Foods (Dairy, Baby Food, Breakfast Cereals, Cooking Oil Confectionary, Sweet Biscuits, Snack Bars and Fruit Snacks) and Functional Beverages (Energy Drink, FF Concentrates, Sports Drink, and Bottled Water)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249