Global Lubricants Market Forecast to 2030

Lubricants industry forecasts, as well as qualitative and quantitative analyses, have been supplied by the report's writers. The SWOT analysis and Porter's Five Forces Analysis, which shed light on the industry's fiercely competitive environment, are two of the most crucial sections of this research. The global Lubricants market, including those in North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa, is thoroughly examined in the study. In addition to revenue growth drivers and barriers, manufacturing consumption patterns, shifting customer tastes, and strict regulatory standards are also covered in this research.

According to a recent report by Emergen Research, the size of the global lubricants market reached USD 129.81 billion in 2021 and is anticipated to grow at a revenue CAGR of 3.57% over the following five years. An important element boosting market revenue growth is the rise in demand for high-performance engines in the automobile industry.

In order to lessen friction between moving surfaces coming into contact, lubricants are solid, semi-solid, or liquid substances. Lubricants are utilised in engines, gears, brakes, clutches, motors, and other moving components in the automotive and aerospace sectors, where they are widely used. In order to avoid heat-related wear problems, the material stops the creation of heat as a result of friction. In ball bearings, for example, greases are utilised to improve performance while keeping temperatures close to normal.

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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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