Lubricants Market Revenue Drivers | Size, Share & Product Analysis | Forecast Report

Posted on 2021-01-25 by researchinsights in Chemicals, Industrial // 0 Comments

Felton, Calif., USA, Jan. 25, 2021 — /EPR Network/ —

The global Lubricants Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global lubricants market size is expected to reach USD 166.25 billion by 2025 with a CAGR of 3.8%. Lubricants imply substances used to reduce or control friction as well as wearing of surfaces coming in contact with dissimilar bodies in relative motion. They can be classified into solid, liquid, gaseous, and semi-liquid, based on state. These high-performance constituents are extensively used in numerous end-use industries such as corrosion inhibitors, anti-wear additives, friction modifiers, extreme pressure (EP) additives and viscosity index improvers.

Key Players:

ExxonMobil Corp.
Royal Dutch Shell
British Petroleum
Total S.A.
Chevron
Fuchs Group
Pennzoil
Amsoil Inc.
Phillips 66

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Growth Drivers:

The continuous revolution in the automotive manufacturing, such as launching of innovative rubber products that decrease harmful influence of waste landfills on the environment is anticipated to drive the demand in the years to come. Also, the rapid development of several manufacturing business in developing countries is one of the factors may propel the overall market growth in the years to come.

Application Outlook:

Industrial
- Process oils
- General industrial oils
- Metalworking fluids
- Industrial engine oils
- Greases
Automotive
- Engine oils
- Gear oils
- Transmission fluids
- Brake fluids
- Coolants
- Greases
Marine
- Engine oil
- Hydraulic oil
- Gear oil
- Turbine oil
- Greases
Aerospace
- Gas turbine oils
- Piston engine oils
- Hydraulic fluids

Regional Outlook:

Asia-Pacific has been at the forefront about Lubricant Market and will continue to dominate in the years to come. The Asia-Pacific region registered a robust growth for the Lubricants in 2016. This region accounted for 43.0% of the global volume. The region is estimated to continue to be a foremost user over the forthcoming period due to substantial increase in the demand from significant end-use businesses across China, India, Thailand and Indonesia.

The strict government regulations in Europe and U.S. is projected to drive the market growth across these regions. In diverse applications, the innovative products are likely to gain a higher demand in the forthcoming period and will have an optimistic impact on the development over the upcoming period.

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