Lubricants Market Overview with Sustainable Growth Opportunities Till 2025

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 biobased
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.
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.
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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.
Market Segment:
Lubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Industrial
• Process oils