Increasing passenger
car count and growing commercial activities are expected to fuel the
global automotive lubricants market between 2014 and 2020. The number
of passenger cars is increasing significantly in Asia Pacific which
has resulted in increased demand for automotive lubricants in the
region.
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Automotive Lubricants Market with TOC :
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Lubricants play a
vital role in reducing friction and wear & tear in automobiles.
The property to reduce friction is known as “lubricity.” A good
lubricant is expected to possess different properties, namely high
boiling point, high viscosity index, corrosion prevention, thermal
stability, low freezing point and high resistivity to oxidation.
Proper lubricant of the automotive and its parts increase the
operating lifespan of vehicles, thereby providing higher efficiency
outputs. Lubricants primarily contain 90% base oils and 10%
additives. These lubricants are predominantly manufactured from
mineral oils. Synthetic lubricants are being widely accepted due to
their environmental compatibility and technical benefits over
conventional mineral oil-based lubricants. Synthetic lubricants offer
high performance with outstanding engine protection. A vehicle
requires less maintenance and has greater operating efficiency. The
additives used in the lubricants play a very important role in
improving the performance of the base oils. The various types of
additives added to the base oils are viscosity index improvers,
corrosion inhibitors, detergents, dispersants, metal deactivators and
others.
The global
lubricants additives market can be segmented on the basis of types
into engine oil, gear oil, grease and transmission fluids. Engine oil
is expected to dominate the global automotive lubricants market
during the forecast period. Engine oils are also known as motor oils.
They are used for lubrication of internal combustion engines and
reduce wear and tear, improve sealing, cool the engine and inhibit
corrosion. Engine oils captured more than 70% market share of the
global automotive lubricants market. There are various standards for
engine oil globally. Some of the organizations that benchmark these
standards are American Petroleum Institute (API), Japanese Automotive
Standards Organization (JASO) and Association des Constructeurs
Européens d'Automobiles (ACEA). Due to increasing disposable income
in Asia Pacific countries such as China and India, the demand of cars
has increased in the region. In 2013, China ranked first in terms of
passenger cars sale. The region is expected to dominate the global
automotive lubricants market during the forecast period. Europe and
North America are very mature market for automotive lubricants. These
regions use high quality and low viscosity lubricants to comply with
the stringent emission norms. In Europe, the targeted permissible
limit for carbon dioxide emission for a passenger car is 130 grams
per kilometer for 2015. The targeted emission limit is further
reduced to 95 grams per kilometer by 2021.
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Increasing
disposable income that results in increasing the sale of vehicles are
expected to drive the global automotive lubricants market during the
forecast period. However, stringent environment regulations are
forcing the vehicle owners to use high performance lubricants that
will result in lower carbon dioxide emission and better fuel economy.
Some of the key
players in the global automotive lubricants market are BP plc,
Chevron Corporation, ExxonMobil Corporation, ConocoPhillips
Corporation, Fuchs Lubricants Co., LUKOIL Oil Company, Royal Dutch
Shell plc, Total S.A., Valvoline, Idemitsu Kosan Co. Ltd., The JX
Nippon Oil & Energy Co. and Repsol S.A. among others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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