Global Lubricants Market Segmented by Type, Base Stock, End-User Industry, and Geography, Forecast to 2025
The global lubricants market can be classified based on type, application and region. On the basis of type, the global market is classified into mineral oil lubricants, synthetic lubricants, greases, and bio-based lubricants. Depending upon application, it is segmented into transportation, and industrial machinery & equipment.
The global lubricants market can be classified based on type, application and region. On the basis of type, the global market is classified into mineral oil lubricants, synthetic lubricants, greases, and bio-based lubricants. Depending upon application, it is segmented into transportation, and industrial machinery & equipment.
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<strong>Global</strong> <strong>Lubricants</strong> <strong>Market</strong> Trends, Analysis, And <strong>Forecast</strong> To<br />
<strong>2025</strong><br />
Lubricant is a chemical substance that can help <strong>to</strong> control or reduce friction <strong>and</strong> wear <strong>and</strong> tear of the<br />
surfaces that come in contact with the bodies in relative motion. <strong>Base</strong>d upon its nature, lubricants are<br />
utilized <strong>to</strong> abolish heat <strong>and</strong> wear debris, transmit power, supply additives in<strong>to</strong> the contact, <strong>and</strong> provide<br />
protection. <strong>Lubricants</strong> can be in any form such as liquid (oil, water, etc.), solid (graphite, graphene,<br />
molybdenum disulfide), or gas (air) or may be semisolid (grease) forms. Majority of the lubricants<br />
comprise of additives that help <strong>to</strong> improve their performance.<br />
When two rough surfaces roll against each other, the severities of the surfaces come in close contact with<br />
each other <strong>and</strong> there<strong>by</strong> result in interlock <strong>and</strong> produce friction. The aim of a lubrication approach is <strong>to</strong><br />
distinct the rubbing surfaces with a lubricant layer, that minimizes or prevents direct contact of the bodies<br />
The global lubricants market can be classified based on type, application <strong>and</strong> region. On the basis of type,<br />
the global market is classified in<strong>to</strong> mineral oil lubricants, synthetic lubricants, greases, <strong>and</strong> bio-based<br />
lubricants. Depending upon application, it is segmented in<strong>to</strong> transportation, <strong>and</strong> industrial machinery &<br />
equipment.<br />
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Among the market segments, the mineral oil is the largest market segment of the lubricants market owing<br />
<strong>to</strong> its ease of availability <strong>and</strong> low cost. There is a high dem<strong>and</strong> for industrial lubricants in the construction<br />
& mining industry owing <strong>to</strong> rising construction activities particularly in the residential sec<strong>to</strong>r in China <strong>and</strong><br />
increasing infrastructural developments in India.<br />
The global lubricants market is expected <strong>to</strong> garner maximum revenue in the forecast period. Fac<strong>to</strong>rs such as<br />
large industrial growth in Asia-Pacific <strong>and</strong> Middle East & Africa, improved quality of lubricants, <strong>and</strong> rise<br />
in au<strong>to</strong>mation in various end-user industries are expected <strong>to</strong> fuel the growth of lubricants market.<br />
<strong>Base</strong>d on regions, the global lubricants market is divided in<strong>to</strong> North America, Europe, Asia-Pacific<br />
(APAC), Middle East & Africa (MEA), <strong>and</strong> Latin America. The North American region is anticipated <strong>to</strong><br />
comm<strong>and</strong> the maximum market share <strong>and</strong> would lead the lubricants market during the forecast period. The<br />
Asia-Pacific region is expected <strong>to</strong> witness the swiftest growth in the lubricants market. Fac<strong>to</strong>rs such as<br />
increased growth of the emerging economies <strong>and</strong> the rising disposable income in this region make this<br />
region an attractive market for industrial lubricant manufacturers. The fabulous growth of industrial
production, <strong>and</strong> increased trade, are chiefly responsible for the large consumption rate of industrial<br />
lubricants there<strong>by</strong> propelling the growth of lubricants market in the region.<br />
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The major companies that provide lubricants include Fuchs Petrolub AG, ExxonMobil Corporation,<br />
Sinopec Limited, Royal Dutch Shell Plc., Petrochina Company Limited, L Chevron Corporation, BP p.l.c.,<br />
Total S.A., UKOIL, Idemitsu Kosan Co. Ltd.<br />
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