Global Lubricants Market Outlook to 2027
segmented by type of application (Industrial, automotive & others), by grade (Mineral, synthetic, semi-synthetic), by Industrial application (engine oil, turbine oil, hydraulic oil, compressor oil, transformer oil, greases, industrial gear oil, metal working fluids & others), by automotive application & by region
March 2023
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About the Report
About the Report
The report provides a comprehensive analysis of the potential of the Global Lubricants Market. The report covers an overview and genesis of the industry, market size in terms of revenue generated.
Its market segment includes by type of product (automotive, industrial, marine & process oils), by type of grade (mineral, synthetic & semi-synthetic), by type of application (automotive, industrial, others), by geography (North America, Europe, Asia Pacific, Latin America, Middle East, Africa). The report includes growth enablers, recent trends & developments, pain points & solutions. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview
According to Ken Research estimates, the Global Lubricants Market which is projected to grow at a robust rate is driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles. Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possibly hinder the market growth.
- Engine oil dominated the market, and it is expected to grow during the forecast period, as it is widely used to lubricate internal combustion engines.
- Growing prominence for bio-lubricants is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the world, with the largest consumption coming from the countries such as China and India.
Key Trends by Market Segment:
By Type of Lubricant: Engine oil is projected to dominate the Global lubricants market in the upcoming years. The wide usability in transportation & industrial sector are the driving factors for engine oil. In addition to it, engine oil finds wide usability in construction vehicles in construction industry.
By Type of Grade: Owing to its wide availability & low price, mineral oil accounts for the largest share of the Global lubricants market. However, pertaining to its superior qualities, synthetic oil is anticipated to grow at the highest CAGR during the forecasted period, 2022-27.
By Geography: Asia Pacific is expected to hold the largest share of the market. As per projections, the region will be a prime location for the lubricants business, owing to its growing population rate, expanding industrial investment, & infrastructure development, mostly in China, India & Indonesia.
Competitive Landscape
Future Outlook
The Global Lubricants market is expected to grow at a steady rate during the forecasted period. The market is driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles. Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possibly hinder the market growth.
Scope Of The Report
Scope of the Report
|
By Type of Application |
Industrial Automotive Others |
|
By Type of Lubricant (Industrial Lubricant) |
Engine Oil Turbine Oil Hydraulic Oil Compressor Oil Transformer Oil Greases Industrial gear Oil Metal Working Fluids Others |
|
By Grade (Industrial Oil) |
Mineral Oil Semi-synthetic Oil Synthetic Oil |
|
By Type of End Use (Industrial) |
Power Generation Construction & Mining Transportation Metal production General Manufacturing Food Industry Commercial Others |
|
By End-use of Lubricant (Automotive) |
Commercial Vehicle Passenger Car Motor Cycle Marine Others (Aviation, Railway) |
|
By Type (Automotive) |
Passenger car Motor Oil Heavy Duty Diesel Engine Oil Hydraulic Oil Gear Oil Greases |
|
By Grade (Automotive) |
Mineral Oil Synthetic Oil Semi-Synthetic Oil |
|
By Geography |
Asia Pacific Europe Latin America Africa Middle East North America |
Products
Products
Key Target Audience
- Lubricants Manufacturers
- Lubricants Distributors
- Base-oil Companies
- Additive Companies
- Refining Companies
- Construction and Mining Industry
- General Manufacturing Industry
- Metal Production Industry
- Power Generation Industry
- Food Processing Industry
- Agriculture Industry
- Medical Industry
- Automotive OEMs
Time Period Captured in the Report:
- Historical Period: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2027
Companies
Key Players Covered
- Petromin
- Castrol
- Exxon Mobil
- Chevron
- Fuchs
- Petronas
- Saudi Aramco
- Valvoline
- Royal Dutch Shell Plc
- Total Group
- ENEOS Corporation
- AMALIE Oil
- BP Plc
- PetroChina Company Ltd.
Table of Contents
Table of Contents
1. Executive Summary
2. Global Lubricants Market Overview
2.1 Taxonomy of Global Lubricants Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for Global Lubricants Market
2.5 Growth Drivers of Global Lubricants Market
2.6 Issues and Challenges of Global Lubricants Market
2.7 Impact of COVID-19 on Global Lubricants Market
2.8 PESTLE/SWOT Analysis
3. Global Lubricants Market Size, 2017 – 2022
4. Global Lubricants Market Segmentation
4.1 By Lubricant Type, 2017 - 2022
4.2 By Application, 2017 - 2022
4.3 By Regional Split (Asia Pacific/Europe/Latin America/Africa/Middle East/North America), 2017 - 2022
5. Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles – (Top 5 - 7 Major Players)
5.3.1 Petromin
5.3.2 Castrol
5.3.3 Exxon Mobil
5.3.4 Chevron
5.3.5 BP Plc
5.3.6 Fuchs
5.3.7 Valvoline
6. Global Lubricants Future Market Size, 2022 – 2027
7. Global Lubricants Future Market Segmentation
7.1 By Lubricant Type, 2022 - 2027
7.2 By Application, 2022 - 2027
7.3 By Regional Split (Asia Pacific/Europe/Latin America/Africa/Middle East/North America), 2022 - 2027
8. Analyst Recommendations
9. Research Methodology
10. Disclaimer
11. Contact Us
Research Methodology
Research Methodology
Step 1: Identifying Key Variables:
Our team will initially create an ecosystem for all the entities in the Global Lubricants Market that are providing fund transfer services in Global Market.
Step 2: Market Building:
In the next step, we have referred to multiple secondary and proprietary databases to perform deck research around the market and collate industry-level information to create an initial level hypothesis. We also explore company-level info by referring press releases, annual reports, financial statements, and other documents to understand basic information about the companies and market level.
Step 3: Validating and Finalizing:
Later our team conducts a series of Interviews with multiple C-Level Executive and other stakeholders belonging to different companies to confirm the market hypothesis, validate statistics and seek operational and financial
Step 4: Research Output:
Furthermore, to validate this data our team pitches each company as a potential customer through a mystery shopping exercise and confirms the operational and financial performance of Global Lubricants Market Entities which have been shared by company executives and available on secondary databases. We also conduct another set of CATIs with the respective entities to understand customer behaviour, channel preference, and other factors. We assess customer analysis in terms of their preferences and pain points.
Frequently Asked Questions
Frequently Asked Questions
01 What is the Study Period of this Market Report?
The Global Lubricants Market is covered from 2017–2022 in this report, including a forecast for 2022-2027.
02 What are the Key Factors Driving the Global Lubricants Market?
Increase in on road Vehicles, growing demand for automotive oils & rapid industrialization are the main growth drivers
03 Who are the Key Players in the Global Lubricants Market?
Castrol, Saudi Aramco, Fuchs, Chevron, Valvoline & Petronas are some of the prominent players in the market.
04 Which is the Largest Segment within the Global industrial lubricants Market?
The Engine Oil (by application) segment holds the largest share of the Global Market in 2022.
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