Lubricants Market Is Projected To Grow Rapidly Due To Rapidly Growing Automobile Sales Till 2025: Grand View Research, Inc.

The global lubricants market size is expected to reach USD 166.25 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a 3.8% CAGR during the forecast period. Increasing demand for a diverse, innovative grade of lubricants for industrial as well as automotive applications is expected to drive growth.

With the expansion of the passenger vehicles segment, there has been a rise in demand for high-quality automotive lubricants with better fuel efficiency and lower emissions. Government schemes in emerging economies, such as the “Make in India” program initiated by the Indian government, have attracted high foreign investments across the automotive industry. This has further boosted demand for lubricants.

Stable base oil production across regions has stimulated feedstock security among blenders in the recent past. Stable supply would thereby address profitability concerns of manufacturers, thereby positively influencing industry competition. Moreover, recovering end-use industries are likely to drive sales of lubricating oil, which is slated to provide equilibrium to the supply-demand scenario.

In addition, high growth in the base oil market, rapid industrialization, burgeoning population and urbanization, and high growth in major end-use industries such as textiles, chemicals, food processing, and metalworking are some other factors driving industry growth.

Industrial engine oils are being utilized in a wide array of applications owing to their exceptional inherent characteristics. These oils are designed to offset rising fuel and operating costs. They have a lower coefficient of friction, which helps in saving fuel and at the same time, keeps the engine clean for maximum combustion efficiency. These oils also help in keeping ports, piston, crankcase, and filters clean for a longer duration.

Browse full research report on Lubricants Market : www.grandviewresearch.com/industry-analysis/lubricants-market 

                                                                                                                             

Further Key Findings From the Study Suggest:

• The global lubricants consumption was estimated at over 40 million tons in 2016, and is projected to expand at a CAGR of 2.8% from 2017 to 2025
• The aerospace industry is projected to witness a high growth rate owing to rapidly increasing air passenger traffic along with rising defense spending across emerging economies
• Regulatory sanctions on conventional lubricating oils on account of their detrimental environmental impact have led to rapid utilization of bio-based alternatives in recent years
• Development of low-viscosity products for wind turbines owing to increasing awareness regarding long-term benefits of wind energy is another factor driving industry growth
• The industry is highly fragmented in nature owing to presence of a large number of participants
• Several manufacturers such as Fuchs Group; Valvoline; and Amsoil Inc. are strategically expanding their operations in emerging nations. These companies have tie-ups with large oil and gas multinationals to suffice their raw material requirements
• Lubricant manufacturers such as Total and Castrol are venturing into exclusive agreements with Tata Motors and other companies to expand their reach.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives                                                                                                                      

Grand View Research has segmented the global lubricants market on the basis of application and region:

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 

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-lubricants-market 

                                                                                   

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

Lubricants market To Gain Demand Quickly Due To Increasing Sales Of Passenger Cars & Motorcycles Till 2022: Grand View Research, Inc.

The global lubricants market size is expected to reach USD 68.54 billion by 2022, according to a new study by Grand View Research, Inc. Growth of automotive industry in emerging markets of Asia Pacific and Latin America is expected to drive automotive lubricants demand. The market is characterized by increasing demand for engine oils, transmission fluids and hydraulic fluids in both commercial and consumer automotives. Increasing sales of passenger cars and motorcycles is expected to further strengthen the trend over the forecast period. Increasing industrial output in China, India, Brazil and Russia is expected to drive the demand for industrial lubricants.

Recycling of used lubricants is another major issue that has attracted a lot of stern regulations from agencies. The global market is regulated by policies from environmental agencies such as U.S. EPA, REACH and ECHA. Lubricant products or chemicals that are imported or manufactured in Europe need to be preregistered with REACH and have to be compliant with ECHA regulations. Similar guidelines have been established by EPA to ensure biodegradability, toxicity and labeling of lubricant products in the U.S.

Global lubricants market volume by product, 2012 - 2022 (Million Tons)

Browse full research report on lubricants market

Further key findings from the report suggest:

• Global lubricants market was 36.36 million tons in 2014 and is expected to reach 43.87 million tons by 2022, growing at a CAGR of 2.4% from 2015 to 2022.
• Industrial lubricants emerged as the largest product segment and accounted for over 39% of the total market volume in 2014. Increasing consumption of general industrial lubricants and process oils in industrial machinery such as centrifuges, rotary compressors, air compressors and machine bearings is expected to drive industrial lubricants demand over the forecast period.
• Asia Pacific was the largest lubricants market and accounted for over 40% of the total market volume in 2014. High industrial production in China and India is expected to drive industrial lubricants demand which in turn is expected to complement regional market growth. Increasing automotive sales in the region is expected to further complement the regional market growth.
• Global lubricants market is fragmented with top four companies, Shell, ExxonMobil, BP and Chevron accounting for over 42% of the total market share. Companies are actively establishing strategic alliances with end-users in order to secure their lubricants sales. Companies such as Total, Shell, Amsoil and Castrol have entered into exclusive partnerships with Tata Motors, BMW, Ford and Vestas Wind Systems to supply their lubricant brands.
• Companies such as Fuchs, Shell and Chevron are involved in acquisition of smaller lubricants manufacturers in order to increase their market share. New product launches and capacity expansions are generic strategies employed by companies to increase their market presence.

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com