Global Lubricants Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 20247

Industry : Chemical and MaterialPublished Date : June 5th, 2018
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The global lubricants market stood at USD77 126.5 billion in 2017 and is likely to generate a demand of USD 161.4 billion by 2024, while propelling at a CAGR of 3.5% over the next seven years. The growing automotive industry as well as rapid industrialization, primarily in the Asia Pacific region coupled with several stringent regulations of the government in favor of bio-based lubricants is expected to drive the market over the forecast period. The years used for the assessment are as follows;

  • Historical year   : 2014, 2015 and 2016
  • Base year          : 2017
  • Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the lubricants market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global lubricants market
  • Finalizing the overall size and share for the global lubricants market.

OBJECTIVES: 

  • To classify global lubricants market into segments on the basis of type, and application to analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with lubricants
  • Profiling key companies operating in the global lubricants market
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for lubricants market is as follows:

By Type

  • Mineral oil lubricants
  • Solid lubricants
  • Synthetic lubricants
  • Bio-based lubricants
  • Others

By Application

  • Automotive
  • Industrial
  • Aerospace
  • Marine
  • Construction
  • Oil & Gas
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America (CSA)
  • Middle East & Africa (MEA)

Lubricants: Revolutionizing the automotive and industrial sectors

The global lubricants market is expected to reach USD 161.4 billion by 2024, at a CAGR of 3.5% from 2018 to 2024. Considerable growth of industrial and automotive industries across the globe has positively impacted the market demand. Also, the rapid growth in BRICS nations along with the rising government regulations regarding environmental protection is expected to fuel the demand for lubricants over the years to come.

Lubricants, defined as a substance that is generally used to reduce the friction as well as wear between surfaces that are in mutual contact, mainly in vehicles. However, they may also be used to eliminate heat and remove debris, transmit power, protect, or supply additives into contact, depending on their nature. The growing adoption of lubricants in automotive industry is primarily due to the prices of convention fuels, augmenting demand for heavy duty vehicles as well as light passenger vehicles and rise in average lifespan of the vehicles.

In addition, several stringent guidelines have been introduced by the government that may further propel the market demand. The U.S. Environmental Protection Agency (EPA) has set various guidelines as well as control techniques regarding carbon emissions in vehicles, which has in turn increased the demand for fuel efficient passenger cars. Moreover, mandatory minimum quality standards for imported and blended lubricants and greases must be met by the market participants.

With the increasing need for enhancing fuel efficiency in vehicles, the traditional materials are getting replaced by synthetic lubricants. The harmful environmental effects are being reduced, as the consumers have started adopting bio-lubricants. However, the high prices for bio-based lubricants may pose a challenge to the market growth. Also, with the advent of hybrid-electric vehicles, the lubricants market is likely to get affected. Additionally, the life cycle cost of hybrid-electric vehicles, including maintenance and fuel cost, and cost of purchase, is much lower than that of conventional vehicles

Some of the key companies operating in the industry include BP p.l.c.; Royal Dutch Shell PLC; Chevron Corporation; Exxon Mobil Corporation; Total; PetroChina Company Limited; China Petrochemical Corporation; FUCHS; Amsoil Inc.; Lukoil; Valvoline LLC and JXTG Nippon Oil & Energy Corporation; among others.

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Lubricants Market – Market snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global lubricants market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Rapid growth in BRICS nations

3.5.2. Industrial expansion in Middle East and Africa

3.6. Market dynamics

3.6.1. Market driver analysis

  3.6.1.1. Expanding automobile industry

  3.6.1.2. Rapid industrialization in Asia Pacific

          3.6.1.3. Favorable government regulations

3.6.2. Market restraint analysis

   3.6.2.1. High prices of bio-based lubricants

   3.6.2.2. Onset of hybrid electric vehicles

3.6.3. Industry Analysis-Porters five forces of Analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive Analysis

4.2. Competitive Factors

4.3. Strategies Adopted

CHAPTER 5. Global Lubricants Market Size and Forecast (2014 – 2024)

5.1. Global Lubricants Market, By Type (Million Metric Tons) (USD Billion)

5.1.1. Mineral oil lubricants

5.1.2. Solid lubricants

5.1.3. Synthetic lubricants

5.1.4. Bio-based lubricants

5.1.5. Others

5.2. Global Lubricants Market, By Application (Million Metric Tons) (USD Billion)

5.2.1. Automotive

5.2.2. Industrial

5.2.3. Aerospace

5.2.4. Marine

5.2.5. Construction

5.2.6. Oil & Gas

5.2.7. Others

CHAPTER 6. Global Lubricants Market Size and Forecast, By Region (2014 – 2024)

6.1. North America Lubricants Market (Million Metric Tons) (USD Billion)

6.1.1. North America Lubricants Market, By Type (Million Metric Tons) (USD Billion)

6.1.2. North America Lubricants Market, By Application (Million Metric Tons) (USD Billion)

6.1.3. North America Lubricants Market, By Country (Million Metric Tons) (USD Billion)

  6.1.3.1. U.S.

  6.1.3.2. Canada

  6.1.3.3. Mexico

6.2. Europe Lubricants Market (Million Metric Tons) (USD Billion)

6.2.1. Europe Lubricants Market, By Type (Million Metric Tons) (USD Billion)

6.2.2. Europe Lubricants Market, By Application (Million Metric Tons) (USD Billion)

6.2.3. Europe Lubricants Market, By Country (Million Metric Tons) (USD Billion)

   6.2.3.1. Germany

  6.2.3.2. U.K

  6.2.3.3. France

  6.2.3.4. Russia

  6.2.3.5. Rest of Europe

6.3. Asia-Pacific Lubricants Market (Million Metric Tons) (USD Billion)

6.3.1. Asia-Pacific Lubricants Market, By Type (Million Metric Tons) (USD Billion)

6.3.2. Asia-Pacific Lubricants Market, By Application (Million Metric Tons) (USD Billion)

6.3.3. Asia-Pacific Lubricants Market, By Country (Million Metric Tons) (USD Billion)

  6.3.2.1. China

  6.3.2.2. Japan

  6.3.2.3. India

  6.3.2.4. South Korea

  6.3.2.5. Indonesia

  6.3.2.6. Rest of Asia-Pacific

6.4. Central & South America (CSA) Lubricants Market (Million Metric Tons) (USD Billion)

6.4.1. Central & South America (CSA) Lubricants Market, By Type (Million Metric Tons) (USD Billion)

6.4.2. Central & South America (CSA) Lubricants Market, By Application (Million Metric Tons) (USD Billion)

6.4.3. Central & South America (CSA) Lubricants Market, By Country(Million Metric Tons) (USD Billion)

   6.4.3.1. Brazil

   6.4.3.2. Rest of CSA

6.5. Middle East & Africa (MEA) Lubricants Market (Million Metric Tons) (USD Billion)

6.5.1. Middle East & Africa (MEA) Lubricants Market, By Type (Million Metric Tons) (USD Billion)

6.5.2. Middle East & Africa (MEA) Lubricants Market, By Application (Million Metric Tons) (USD Billion)

6.5.3. Middle East & Africa (MEA) Lubricants Market, By Country (Million Metric Tons) (USD Billion)

   6.5.3.1. UAE

   6.5.3.2. Saudi Arabia

   6.5.3.3. Iran

   6.5.3.4. Rest of MEA

CHAPTER 7. Key Players and Strategic Developments

7.1. BP p.l.c.

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Royal Dutch Shell PLC

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Chevron Corporation

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Exxon Mobil Corporation

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Total

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. PetroChina Company Limited

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. China Petrochemical Corporation

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. FUCHS

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Amsoil Inc.

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Lukoil

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Valvoline LLC

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. JXTG Nippon Oil & Energy Corporation

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. Petronas Lubricants International

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

7.14. Quaker Chemical Corporation

7.14.1. Business Overview

7.14.2. Product and Service Offering

7.14.3. Financial Overview

7.14.4. Strategic Developments

7.15. Idemitsu Kosan Co. Ltd.

7.15.1. Business Overview

7.15.2. Product and Service Offering

7.15.3. Financial Overview

7.15.4. Strategic Developments

Global Lubricants Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 20247