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Lubricants Market Outlook – The fluids sector has been stimulating the global industry

Author : Ronak Bora | Published Date : 2019-12-02 

Lubricants Market size in the fluids sector is likely to rise with a CAGR of 8.6% over the coming years. These process oils have a wide utility in technical and chemical sectors for lubrication. Booming demand of chemicals especially in Asia Pacific region is likely to increase the productivity of fluids.

Prominent oil and gas industries like Shell, Sinopec, British Petroleum and Idemitsu are integrated lubricant producers which focus on adequate supply of raw material for steady manufacturing of oils. With integrations, it becomes easier for these companies to expand their business. Most of the manufacturers have a contract with oil and gas industries for efficient supply of raw material. Depletion in crude oil extraction has resulted in crisis of raw material and hence, many companies are emphasizing on refining techniques for uninterrupted raw material supply.

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In addition to this, rise in research & development activities like growth of bio based equivalents to minimize the ecological hazards are predicted to contribute towards enhanced demand and growth of the global lubricants market. Also, the rise in the proportion of vehicles is predicted to propel the growth of the lubricants market globally. However, aspects like long engine oil drain interval along with the introduction of hybrid electric automobiles can hinder the growth of the industry. Based on the products, the global lubricants market is bifurcated into mineral oil lubricants, bio based lubricants and synthetic lubricants.

Transportation includes passenger vehicle, marine vehicle, commercial vehicle and aviation. This section is projected to play a vital role in propelling the growth & expansion of the global lubricants market owing to the rise in the proportion of automobiles on road. It contributed to the biggest share of the global lubricants market during year 2015. Automotive oils section is further divided into gear oil, hydraulic oil and engine oil.

Today many of the key industry players are implementing new business strategies to grow their business and enhance their manufacturing capacities in developing regions. Hence these key market participants are involved in acquiring small firms to gain competitive advantage, expand their business, increase their profit margins and thus grow their total market share.

The size of lubricants market is predicted to touch 47.75 million tons till 2022, rising with a CAGR of 2.9% during the forecast period as per the research done by Global Market Insights. Increase in demand in 3D printing along with medical appliances is likely to further fuel up the market. Talking about revenue collection, market is likely to go beyond USD 74 billion till 2022, with an annual growth rate of 8.5%. The main purpose of lubricants is to reduce friction, thereby avoiding wear and tear in automotive parts like piston, connecting rods and shafts. Exponential growth in industrialization will definitely bring boom to lubricants market trend.

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Technological breakthroughs, technological innovations & key business strategies like joint ventures, associations, partnerships, market penetration, product innovation, product differentiation and benchmarking adopted by the key industry players are predicted to be few key drivers stimulating the growth of the lubricants market in the potential regions. Successful implementation of these business strategies will also help the key market players to grow & expand their business all across the globe.

Glimpse of Table of Content (ToC)

Chapter 1    Methodology and Scope

1.1     Research Methodology

1.1.1   Initial data exploration

1.1.2   Statistical modeling and forecast

1.1.3   Industry insights and validation

1.2     Data Sources

Chapter 2    Executive Summary

2.1     Lubricants industry 360° synopsis, 2012 – 2022

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/lubricants-market

Chapter 3 Lubricants Industry Insights

3.1 Lubricants market Segmentation

3.2 Lubricants market Size and forecast

3.3 Lubricants market ecosystem analysis

3.4 Regulatory landscape

3.4.1 EPA

3.4.2 FDA

3.4.3 ECHA

3.5 Industry Impact forces

3.5.1 Growth drivers

3.5.1.1 Growing industrialization in emerging markets

3.5.1.2 Favorable prospects for the automotive industry

3.5.2 Industry pitfalls & challenges

3.5.2.1 Bio-based lubricants demand

3.5.2.2 Regulatory scenario

3.6 Raw material analysis

3.7 Growth potential analysis

3.8 Porter’s analysis

3.9 Company market share analysis, 2014

3.10 PESTEL analysis

Browse Related Report: https://www.fractovia.org/news/propylene-oxide-market-growth-potential-trend-share-forecast-2024/7685

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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