Global Lubricants Market | APAC to Dominate the Market During 2020-2024 | Technavio

·5-min read

The global lubricants market size is expected to grow by 1.77 million tons during 2020-2024, progressing at a CAGR of almost 1% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report

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Technavio has announced its latest market research report titled Global Lubricants Market 2020-2024 (Graphic: Business Wire)

Increasing demand from end-user industries is one of the major factors propelling the market growth. However, factors such as fluctuations in crude oil prices, the environmental impact of lubricants, the high price of synthetic lubricants might challenge the growth of the market.

Lubricants are widely used in various industries such as the automotive, construction, steel and cement, wind energy, agriculture, mining and oil drilling, marine, and aerospace industries. This is due to their characteristics such as anti-wear characteristics, resistance to corrosion, excellent lubricity, water tolerance, and filterability. In the construction industry, hydraulic fluids made of lubricants are used in earthmoving equipment such as crawler excavators, mini excavators, wheeled excavators, wheeled dozers, and skid-steer loaders. Similarly, in the steel and cement industry, lubricants are used to increase the re-greasing intervals of the equipment, improve wear resistance of friction pairs, and enhance the lifespan of the equipment. Many such applications across various industries are increasing the consumption of lubricants, which is driving the growth of the market.

More details: www.technavio.com/report/lubricants-market-industry-analysis

Global Lubricants Market: Product Landscape

Mineral oil-based lubricants were the most consumed type of lubricants in 2019. Their high demand and consumption can be attributed to the low cost and easy availability compared to synthetic and bio-based lubricants. They also offer excellent solubility with additives, enhanced compatibility with seals, high viscosity, and high flash point. These factors are driving the growth of the segment.

Global Lubricants Market: Geographic Landscape

APAC was the largest market for lubricants in 2019 and the region will continue to offer significant growth opportunities for vendors during the forecast period. The growth of end-user industries such as the automotive, construction, and refining in China, India, Japan, and South America is increasing the demand for lubricants. In addition, rising investments in heavy engineering, steel manufacturing, mining and refining, and plastics and polymer industries will continue to drive the growth of the lubricants market in APAC during the forecast period.

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Companies Covered

  • BP Plc

  • Chevron Corp.

  • Exxon Mobil Corp.

  • FUCHS PETROLUB SE

  • Idemitsu Kosan Co. Ltd.

  • PetroChina Co. Ltd.

  • Petroliam Nasional Berhad

  • Royal Dutch Shell Plc

  • Total SA

  • Valvoline Inc.

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, till 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

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Lubricants Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist in lubricants market growth during the next five years

  • Estimation of the lubricants market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the lubricants market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of lubricants market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product

  • Mineral-oil based lubricants - Market size and forecast 2019-2024

  • Synthetic lubricants - Market size and forecast 2019-2024

  • Bio-based lubricants - Market size and forecast 2019-2024

  • Market opportunity by Product

Market Segmentation by Application

  • Market segments

  • Comparison by Application

  • Automotive oils - Market size and forecast 2019-2024

  • Industrial oils - Market size and forecast 2019-2024

  • Process oils - Market size and forecast 2019-2024

  • Metalworking fluids - Market size and forecast 2019-2024

  • Greases - Market size and forecast 2019-2024

  • Market opportunity by Application

Customer Landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • BP Plc

  • Chevron Corp.

  • Exxon Mobil Corp.

  • FUCHS PETROLUB SE

  • Idemitsu Kosan Co. Ltd.

  • PetroChina Co. Ltd.

  • Petroliam Nasional Berhad

  • Royal Dutch Shell Plc

  • Total SA

  • Valvoline Inc.

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201028006199/en/

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