Press release
Lubricants Market is Expected To Driven By Expansion in Automotive Industry and General Industry - Industry Outlook from 2014-2025
Global Lubricants Market report provides analysis for the period 2014–2025, wherein the period from 2018 to 2025 is the forecast period and 2017 is base year. The market study reveals that the Global Lubricants Market is expected to grow over a CAGR of 3.5% during 2018-2025 in terms of value. The increasing number of passenger vehicle, commercial vehicle, and growth in the aviation and marine industries are expected to drive the lubricants market, globally. Lubricants are materials that help reduce the friction between moving parts or surfaces to enhance the efficiency of machines. They are used in different applications ranging from automobiles to large multitudes of industries. Moreover, Industrial sector growth is propelled by strong global trade, rising commodity prices, and supportive domestic policies in developing economies like India, China, Indonesia, and South Korea markets. Thus, Strong domestic growth, chiefly GDP growth fueled by private consumption and fixed investment has accelerated industrial sector progress which has positively influenced application of lubricants in industrial sector.
Expansion in the automotive and general industry is driving the global lubricants market.
Request for Sample Copy of Study Report Global Lubricants Market: https://bit.ly/2A0ZnhI
Global Lubricants Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “Global Lubricants Market Size, Share, Development, Growth and Demand Forecast to 2025” are:
• Synthetic Lubricants segment is expected to grow at a rapid pace with a significant CAGR of 6.3% during the anticipated period owing to its better viscosity stability in extreme temperature conditions. Synthetic lubricants are manufactured by the combination of base oil and additives. Synthetic lubricants have enhanced quality and have several advantages over other conventional mineral-based lubricants. Synthetic lubricants help to increase the durability of the machineries and equipment.
• General Industrial Oil & Process Oil Application is expected to grow with a CAGR of 4.4% during the forecast period. General Industrial oils are being increasingly used across several industrial applications as well in areas such as air compressors, auxiliary equipment, bearings, food machinery, gas engines, etc. Process oils increase the performance of rubber and tire products and provide high stability, with a relative inertness towards curing additives. Process oils have low volatility, and high viscosity and plasticity.
• Middle-East & Africa is the fastest growing market for lubricants across the globe with a CAGR of 4.42%. The Middle East & Africa lubricants market is projected to grow exponentially in the next five years. The demand for Middle East & Africa lubricants is increasing and will continue to increase due to the tremendous growth in the transportation and industrial sector. The development of the tourism, mining, quarrying industries in Africa and crude oil and natural gas exploration, construction industries in the Middle East is significantly contributing to the increase in lubricants consumption in the region.
Lubricants Market: Scope of the Report
The global Lubricants market is segmented on the basis of type, application, and additives. On the basis of type, the market is segmented into Mineral Oil, Synthetic Lubricants, Greases, and Bio-Based Lubricants. Mineral oil was the largest segment in the global lubricants market in 2017 and is estimated to witness the highest growth during 2018-2025. On the application basis, the market is segmented into Engine oils, Gear oil, Transmission and Hydraulic Fluid, General Industrial oils, Process Oils, Metal Working Fluids, and Others. Engine oils accounted for the largest segment in the global lubricants market in 2017. On the basis of additives, the market is segmented into Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Additives, Antioxidants, Friction Modifiers, and Others. Dispersants accounted for the highest segment regarding revenue during 2017 and are estimated to grow significantly during 2018-2025.
On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle-East & Africa, and Latin America. Asia-Pacific was the largest region in the global lubricants market in 2017 with a market share of 39.60% and it is estimated to grow over a CAGR of 3.42% during 2018-2025.
Lubricants Market: Competitive Dynamics
Companies, such as Exxon Mobil Corporation, British Petroleum, Royal Dutch Shell, Chevron Corporation, and Total S.A. are the key players in manufacturing lubricants. In terms of product offerings, Exxon Mobil Corporation and British Petroleum are the major players in the market, providing various products of lubricants.
About Us
BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.
Contact Us:
Email: info@blueweaveconsulting.com
Website: www.blueweaveconsulting.com
Phone: +1 8666586826
Expansion in the automotive and general industry is driving the global lubricants market.
Request for Sample Copy of Study Report Global Lubricants Market: https://bit.ly/2A0ZnhI
Global Lubricants Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “Global Lubricants Market Size, Share, Development, Growth and Demand Forecast to 2025” are:
• Synthetic Lubricants segment is expected to grow at a rapid pace with a significant CAGR of 6.3% during the anticipated period owing to its better viscosity stability in extreme temperature conditions. Synthetic lubricants are manufactured by the combination of base oil and additives. Synthetic lubricants have enhanced quality and have several advantages over other conventional mineral-based lubricants. Synthetic lubricants help to increase the durability of the machineries and equipment.
• General Industrial Oil & Process Oil Application is expected to grow with a CAGR of 4.4% during the forecast period. General Industrial oils are being increasingly used across several industrial applications as well in areas such as air compressors, auxiliary equipment, bearings, food machinery, gas engines, etc. Process oils increase the performance of rubber and tire products and provide high stability, with a relative inertness towards curing additives. Process oils have low volatility, and high viscosity and plasticity.
• Middle-East & Africa is the fastest growing market for lubricants across the globe with a CAGR of 4.42%. The Middle East & Africa lubricants market is projected to grow exponentially in the next five years. The demand for Middle East & Africa lubricants is increasing and will continue to increase due to the tremendous growth in the transportation and industrial sector. The development of the tourism, mining, quarrying industries in Africa and crude oil and natural gas exploration, construction industries in the Middle East is significantly contributing to the increase in lubricants consumption in the region.
Lubricants Market: Scope of the Report
The global Lubricants market is segmented on the basis of type, application, and additives. On the basis of type, the market is segmented into Mineral Oil, Synthetic Lubricants, Greases, and Bio-Based Lubricants. Mineral oil was the largest segment in the global lubricants market in 2017 and is estimated to witness the highest growth during 2018-2025. On the application basis, the market is segmented into Engine oils, Gear oil, Transmission and Hydraulic Fluid, General Industrial oils, Process Oils, Metal Working Fluids, and Others. Engine oils accounted for the largest segment in the global lubricants market in 2017. On the basis of additives, the market is segmented into Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Additives, Antioxidants, Friction Modifiers, and Others. Dispersants accounted for the highest segment regarding revenue during 2017 and are estimated to grow significantly during 2018-2025.
On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle-East & Africa, and Latin America. Asia-Pacific was the largest region in the global lubricants market in 2017 with a market share of 39.60% and it is estimated to grow over a CAGR of 3.42% during 2018-2025.
Lubricants Market: Competitive Dynamics
Companies, such as Exxon Mobil Corporation, British Petroleum, Royal Dutch Shell, Chevron Corporation, and Total S.A. are the key players in manufacturing lubricants. In terms of product offerings, Exxon Mobil Corporation and British Petroleum are the major players in the market, providing various products of lubricants.
About Us
BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.
Contact Us:
Email: info@blueweaveconsulting.com
Website: www.blueweaveconsulting.com
Phone: +1 8666586826
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