Global Lubricants Market size is expected to reach USD 166.25 billion by 2025 with a CAGR of 3.8%. Lubricants imply substances used to reduce or control friction as well as wearing of surfaces coming in contact with dissimilar bodies in relative motion. They can be classified into solid, liquid, gaseous, and semi-liquid, based on state. These high-performance constituents are extensively used in numerous end-use industries such as corrosion inhibitors, anti-wear additives, friction modifiers, extreme pressure (EP) additives and viscosity index improvers. In addition, the continuous revolution in the automotive manufacturing, such as launching of innovative rubber products that decrease harmful influence of waste landfills on the environment is anticipated to drive the demand in the years to come.
Also, the rapid development of several manufacturing business in developing countries is one of the factors may propel the overall market growth in the years to come. On the other hand, the factor such as growing shift towards high drain intermission lubricants such as synthetic lubricants. The usage of synthetic lubricants raises the drain out time and as a result the lubricants consumption declines, hereafter the complete lubricants shrinks. Furthermore, high cost of bio-based and synthetic lubricants reduces its consumption, which in turn is likely to affect the demand of the market. The growing acceptance of hybrid electric vehicles could hamper the development of the market in the forecast period.
Get Sample PDF and read more details about the "Lubricants Market" Report 2025.
Lubricants Market may be explored by type, applications, and geography. Market may be explored by type as Synthetic Lubricants, Mineral Oil Lubricants, Bio-based Lubricants, and Greases. Mineral oil lubricants segment is dominating the segment type due to its easy availability and cost-effectiveness. Although, growing strict government regulations and rising awareness among consumers are estimated to foster the market growth in the forecast period. Furthermore, Greases owing to its high usage in numerous manufacturing businesses recorded the highest CAGR during the forecast period.
Lubricants Market may be explored by Applications as Industrial, (Process oils, General industrial oils, Metalworking fluids, Industrial engine oils, Greases, Others), Automotive, (Engine oils, Gear oils, Transmission fluids, Brake fluids, Coolants, Greases), Marine, (Engine oil, Hydraulic oil, Gear oil, Turbine oil, Greases, Others), and Aerospace, (Gas turbine oils, Piston engine oils, Hydraulic fluids, Others). Automotive sector of lubricant is the dominant application of the market in 2016, covering 56.0% of the market share by volume. This is due to rapid increase in the demand for consumer vehicles as well commercial across numerous developing countries, comprising India and China.
Asia-Pacific has been at the forefront about Lubricant Market and will continue to dominate in the years to come. The Asia-Pacific region registered a robust growth for the Lubricants in 2016. This region accounted for 43.0% of the global volume. The region is estimated to continue to be a foremost user over the forthcoming period due to substantial increase in the demand from significant end-use businesses across China, India, Thailand and Indonesia. These developing countries have observed a robust financial progress in recent years and show ample chances for development.
The strict government regulations in Europe and U.S. is projected to drive the market growth across these regions. In diverse applications, the innovative products are likely to gain a higher demand in the forthcoming period and will have an optimistic impact on the development over the upcoming period. Moreover, severe rules pertaining to waste disposal are projected to initiate innovation in the rubber sector, consequently profiting the business.
Some of the key players that fuel the growth of the Lubricants Industry include Exxon Mobil Corporation, Idemitsu Kosan Co., Ltd., Royal Dutch Shell Plc., Sinopec Limited, Petrochina Company Limited, Total S.A., Lukoil, BP Plc., Fuchs Petrolub AG, Chevron Corporation, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
Full Research Report on Global Lubricants Market Analysis available at: https://www.millioninsights.com/industry-reports/lubricants-market-size
Market Segment:
Lubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Industrial
• Process oils
• General industrial oils
• Metalworking fluids
• Industrial engine oils
• Greases
• Others
• Automotive
• Engine oils
• Gear oils
• Transmission fluids
• Brake fluids
• Coolants
• Greases
• Marine
• Engine oil
• Hydraulic oil
• Gear oil
• Turbine oil
• Greases
• Others
• Aerospace
• Gas turbine oils
• Piston engine oils
• Hydraulic fluids
• Others
Lubricants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• Russia
• Asia Pacific
• China
• India
• Japan
• Central and South America
• Brazil
• Middle East & Africa
• Saudi Arabia
Read the Latest Press Releases available with Million Insights:
1. Telepresence Equipment Market - The global telepresence equipment market size is estimated to account for USD 2.45 billion by 2025. The market is likely to register a CAGR of 2.9% from 2017 to 2025.
2. Power Bank Market - The global power bank market size is projected to account for USD 27.8 billion by 2027 and is expected to grow with 18.4% CAGR over the forecast period, from 2020 to 2027.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email:Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/lubricants-market-size
