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Lubricants Market 2019 - 2022 Has the Momentous Driver in The Form of Rising Industrial Application

Author : Ronak Bora | Published Date : 2019-08-09 

Industrial application accounted for over 35% of global lubricants market volume share in 2014 and should witness significant growth over forecast period. Growing demand for industrial products along with capacity expansion in various industry including machinery, mining and metal forming will propel lubricants market share over forecast timeframe. 

Asia Pacific may witness considerable growth over forecast timeframe owing to increasing infrastructure demand from developing countries coupled with rapid expansion of automotive industry. China lubricants market size was valued over USD 6 billion in 2014 on account of increasing power plant installation. Increasing automobile sales with declining sale tax may further stimulate the business growth. 

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U.S. lubricants market size for 2014 was valued over 6 million. Aging infrastructure will propel the regional growth from 2015 to 2022. According to American Society of Civil Engineers, the infrastructure replacement and maintenance will cost over USD 3.3 trillion by 2020.

Abundant availability of base oil and low production cost will stimulate the Middle East and Africa lubricants market size. Brazil will see considerable growth owing to rapid infrastructure development and booming automobile sector. Stringent government regulation to reduce air pollution will further influence the business landscape.

The size of lubricants market was anticipated as 37.73 million tons in the year 2014 and is predicted to touch 47.75 million tons till 2022, rising with a CAGR of 2.9% between the years 2015 to 2022 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 touched USD 37 billion in the year 2014 and 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.

Browse key industry insights spread across 235 pages with 130 market data tables & 15 figures & charts from the report, “Lubricants Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/lubricants-market

The key players include are Chevron, Shell, Sinopec, Castrol, BP, petrochina, exxonmobil, Nippon Oil whereas, exxonmobil, BP, Shell and Chevron contributed over 40% of global lubricants market share in 2015. Majority industry players are tied up with upstream companies to ensure uninterrupted supply of feedstock.

Glimpse of Table of Content (ToC)

Chapter 3    Lubricants Industry Insights

3.1     Industry Segmentation

3.2     Industry Size and forecast

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

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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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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