Global Lubricants Market Forecast to 2030

The Global Lubricants Market study includes a thorough analysis of market dynamics as well as historical and current data analysis. The report also discusses the key market growth drivers and restraining factors that are likely to affect market growth during the forecast period. The Global Lubricants Market undertakes market scenario research to provide growth projections for the Lubricants industry from 2022 to 2030. The analysis focuses on potential growth possibilities and difficulties that market leaders may run into during the forecast period. The study places a lot of emphasis on newly emerging business elements, specialized sectors, product launches, and brand promotions that are taking place in the market

The global lubricants market size reached USD 129.81 Billion in 2021 and is expected to register a revenue CAGR of 3.57% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for high-performance engines in the automotive industry is a crucial factor driving revenue growth in the market.

Lubricants are solid, semi-solid, or liquid substances used to reduce friction among motional surfaces coming into contact. It is extensively used in the automotive and aerospace industries, where lubricants are used in engines, gears, brakes, clutches, motors, and other moving components. The substance prevents the formation of heat due to friction, therefore avoiding heat-related wear damage. Greases, for instance, are used in ball bearings to increase the performance of the component while maintaining near-normal temperatures. Rising demand and production of vehicles is a major factor in increasing demand for lubricants, which is expected to contribute to the revenue growth of the global lubricants market between 2022 and 2030.

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Competitive Terrain:

The global Lubricants industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Valvoline Inc., PetroChina Company Limited, Exxon Mobil Corporation, JX Nippon Oil & Gas Exploration Corporation, Shell plc, British Petroleum plc, Quaker Chemical Corporation, China Petroleum & Chemical Corporation, Chevron Corporation, and TotalEnergies SE

Research Report on the Lubricants Market Addresses the Following Key Questions:

Who are the dominant players of the Lubricants market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Lubricants market?

What are the key growth drivers and restraining factors of the Lubricants market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Lubricants market and its key segments?

Market Overview:

The report bifurcates the Lubricants market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Base Oil Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)

Synthetic Oils

Mineral Oils

Bio-Based Oils

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)

Industrial Lubrication

Gear and Engine Oil

Brake Fluids

Greases

Turbines

Vacuum Pumps

Others

End-Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)

Automotive Industry

Aerospace Industry

Marine Industry

Energy Industry

Oil and Gas Industry

Textile Industry

Others

Regional Landscape section of the Lubricants report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Some Key Highlights From the Report

The mineral oils segment is expected to register a moderate revenue growth rate during the forecast period. The American Petroleum Institute (API) classifies base oil into five categories, among which the first three groups; Group I, Group II, and Group III are derived from mineral oils. The three groups have the same amount of saturates (>90%), however, the percentage of sulfur and viscosity index vary. Lubricants made with Group I base oils have an operating temperature range between 32°F to 150°F, whereas Group II and Group III base oil lubricants have higher ranges due to hydrocracking method of manufacture. Antioxidation properties of Group II base oils due to hydrocrack processing are expected to further increase their demand over the coming years.

The industrial lubrication segment accounted for moderate revenue share in 2021. Processing industries, especially the food and beverages industry, cosmetic and pharmaceutical industries, and other Fast-Moving Consumer Goods (FMCG) industries that contain motional devices in their unit operations regularly use lubricants for improving performance of the devices, as well as to enhance operational life. Various lubricants, including oils, fluids, and greases are used in agitators, exhausts, ball bearings, and conveyor belt motors, which is increasing demand for lubricants in industries, therefore boosting revenue growth of this segment.

The lubricants market in Europe is expected to register a moderate revenue growth rate between 2022 and 2030. Rising production and demand for vehicles in countries in this region, as well as increasing number of mergers and acquisitions by major companies are some of the key factors driving revenue growth in this region. Report of the International Council on Clean Transportation (ICCT) estimated that Germany accounted for the largest vehicle market, accounting for around 25% of the combined market of the European Union and the U.K. Also, the European Union was among the leading exporters of lubricating oil additives, while Germany was ranked second in the import of the product in 2021, with trade values of USD 2.05 billion and USD 671 million, respectively.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Lubricants market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

Data and information related to the consumption rate in each region

Estimated increase in the consumption rate

Proposed growth of the market share of each region

Geographical contribution to market revenue

Expected growth rate of the regional markets

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