Lubricants 2018 Global Market Key Players – BP plc., Total S.A. – Analysis and Forecast to 2025
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Xpodence research updated data for competitive structure of the Global Lubricants Industry to devise effective growth strategies and facilitate better decision-making.
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<strong>Global</strong> <strong>Lubricants</strong> <strong>Market</strong> Trends, <strong>Analysis</strong>, <strong>and</strong> <strong>Forecast</strong> To <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 surfaces that come<br />
in contact with the bodies in relative motion. Based upon its nature, lubricants are utilized <strong>to</strong> abolish heat <strong>and</strong> wear<br />
debris, transmit power, supply additives in<strong>to</strong> the contact, <strong>and</strong> provide protection. <strong>Lubricants</strong> can be in any form such as<br />
liquid (oil, water, etc.), solid (graphite, graphene, molybdenum disulfide), or gas (air) or may be semisolid (grease) forms.<br />
Majority of the lubricants 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 each other<br />
<strong>and</strong> thereby result in interlock <strong>and</strong> produce friction. The aim of a lubrication approach is <strong>to</strong> distinct the rubbing surfaces<br />
with a lubricant layer, that minimizes or prevents direct contact of the bodies.<br />
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The global lubricants market can be classified based on type, application <strong>and</strong> region. On the basis of type, the global<br />
market is classified in<strong>to</strong> mineral oil lubricants, synthetic lubricants, greases, <strong>and</strong> bio-based lubricants. Depending upon<br />
application, it is segmented in<strong>to</strong> transportation, <strong>and</strong> industrial machinery & equipment.<br />
Among the market segments, the mineral oil is the largest market segment of the lubricants market owing <strong>to</strong> its ease of<br />
availability <strong>and</strong> low cost. There is a high dem<strong>and</strong> for industrial lubricants in the construction & mining industry owing <strong>to</strong><br />
rising construction activities particularly in the residential sec<strong>to</strong>r in China <strong>and</strong> increasing infrastructural developments in<br />
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 large<br />
industrial growth in Asia-Pacific <strong>and</strong> Middle East & Africa, improved quality of lubricants, <strong>and</strong> rise in au<strong>to</strong>mation in<br />
various end-user industries are expected <strong>to</strong> fuel the growth of lubricants market.<br />
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Based on regions, the global lubricants market is divided in<strong>to</strong> North America, Europe, Asia-Pacific (APAC), Middle East &<br />
Africa (MEA), <strong>and</strong> Latin America. The North American region is anticipated <strong>to</strong> comm<strong>and</strong> the maximum market share <strong>and</strong><br />
would lead the lubricants market during the forecast period. The Asia-Pacific region is expected <strong>to</strong> witness the swiftest<br />
growth in the lubricants market. Fac<strong>to</strong>rs such as increased growth of the emerging economies <strong>and</strong> the rising disposable<br />
income in this region make this region an attractive market for industrial lubricant manufacturers. The fabulous growth<br />
of industrial production, <strong>and</strong> increased trade, are chiefly responsible for the large consumption rate of industrial<br />
lubricants thereby propelling the growth of lubricants market in the region.<br />
The major companies that provide lubricants include Fuchs Petrolub AG, ExxonMobil Corporation, Sinopec Limited,<br />
Royal Dutch Shell Plc., Petrochina Company Limited, L Chevron Corporation, <strong>BP</strong> <strong>plc</strong>., <strong>Total</strong> S.A., UKOIL, Idemitsu Kosan<br />
Co. Ltd.<br />
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