Lubricants Market 2030 Growth Analysis Report on Trends, Future Demand, Top Important Companies, and 2022

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Market Size – USD 129.81 Billion in 2021, Market Growth – at a CAGR of 3.57%, Market Trends – Rapid advancements in lubricants systems and use of lubricants to estimate efficacy of vaccines

Lubricants reduce friction, allow machines to run smoothly, and prevent damage caused by friction.  several uses, and it is most commonly used in the automobile sector.  Lubricants are mostly used in the gearbox, engine, brakes, and transmission mechanisms of vehicles. It reduces the risk of corrosion and reduces the need for maintenance. 

The analysis examines the factors influencing industry growth in the worldwide Lubricants market and provides detailed estimates regarding the growth pattern. Drivers, restraints, opportunities, threats, risks, constraints, and other characteristics of the market are some of the study's primary subjects. The study offers a comprehensive investigation of the company profiles, product portfolio, and corporate expansion strategies in addition to a full analysis of the competitive environment.

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.

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Global Lubricants Market Highlights:

  • Regional demand estimation and forecast
  • Product Mix Matrix
  • RD Analysis
  • Cost-Benefit Analysis
  • Pre-commodity pricing volatility
  • Supply chain optimization analysis
  • Technological updates analysis
  • Raw Material Sourcing Strategy
  • Competitive Analysis
  • Mergers Acquisitions
  • Location Quotients Analysis
  • Carbon Footprint Analysis
  • Patent Analysis
  • Vendor Management

Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Lubricants market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Lubricants market and pinpoint the fundamental growth trends.  

Key Companies Profiled 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

Key Parameters Analyzed in This Section:

  • Company Profiles
  • Gross Revenue
  • Profit margins
  • Product sales trends
  • Product pricing
  • Industry Analysis
  • Sales distribution channels

Regional Segmentation:

  • North America
  • Latin America
  • Europe
  • Middle East Africa
  • Asia Pacific

Key Points Covered in This Section:

  • Regional contribution
  • Estimated revenue generation
  • Vital data and information about the consumption rate in all the leading regional segments
  • An expected rise in market share
  • Forecast growth in the overall consumption rate

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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.

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

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Additional information offered by the report:

  • Along with a complete overview of the global Cobots market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
  • The report elaborates on the global Cobots market size and share governed by the major geographies.
  • It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
  • It further presents a detailed description of the company profiles of the key market contenders.

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