Lubricants Market: An Empirical Assessment of the Trajectory of the Market
Market Characterization:
Lubricant is a chemical substance that can help to control or
reduce friction and wear and tear of the surfaces that come in contact with the
bodies in relative motion. Based upon its nature, lubricants are utilized to
abolish heat and wear debris, transmit power, supply additives into the
contact, and provide protection. Lubricants can be in any form such as liquid
(oil, water, etc.), solid (graphite, graphene, molybdenum disulfide), or gas
(air) or may be semisolid (grease) forms. Majority of the lubricants comprise
of additives that help to improve their performance.
Major Key Players:
·
Fuchs Petrolub AG
·
ExxonMobil Corporation
·
Sinopec Limited
·
Royal Dutch Shell Plc.
·
Petrochina Company Limited
·
L Chevron Corporation
·
BP p.l.c.
·
Total S.A.
·
UKOIL
·
Idemitsu Kosan Co. Ltd.
Market Segmentation:
The global lubricants market can be classified based on type,
application and region. On the basis of type, the global market is classified
into mineral oil lubricants, synthetic lubricants, greases, and bio-based lubricants.
Depending upon application, it is segmented into transportation, and industrial
machinery & equipment.
Among the market segments, the mineral oil is the largest
market segment of the lubricants market owing to its ease of availability and
low cost. There is a high demand for industrial lubricants in the construction
& mining industry owing to rising construction activities particularly in
the residential sector in China and increasing infrastructural developments in
India.
Market Analysis with
Latest Growth Factors:
When two rough surfaces roll against each other, the
severities of the surfaces come in close contact with each other and thereby
result in interlock and produce friction. The aim of a lubrication approach is
to distinct the rubbing surfaces with a lubricant layer, that minimizes or
prevents direct contact of the bodies
The global lubricants market is expected to garner maximum
revenue in the forecast period. Factors such as large industrial growth in
Asia-Pacific and Middle East & Africa, improved quality of lubricants, and
rise in automation in various end-user industries are expected to fuel the
growth of lubricants market.
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Geographical Analysis:
Based on regions, the global lubricants market is divided into
North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and
Latin America. The North American region is anticipated to command the maximum
market share and would lead the lubricants market during the forecast period.
The Asia-Pacific region is expected to witness the swiftest growth in the
lubricants market. Factors such as increased growth of the emerging economies
and the rising disposable income in this region make this region an attractive
market for industrial lubricant manufacturers. The fabulous growth of
industrial production, and increased trade, are chiefly responsible for the
large consumption rate of industrial lubricants thereby propelling the growth
of lubricants market in the region.
Major Points from Table
of content:
•
Executive Summary
•
Research Methodology
•
Market Dynamics
•
Industry Overview
•
Global Lubricants Market, By Product (2017-2025)
•
Global Lubricants Market, By Regions (2017-2025)
•
Market Competition Analysis
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