The global
lubricants market and its crucial elements are analyzed in a recent
market research report published by Transparency Market Research. The
report states that the market will expand at a meagre 1.72% CAGR over
the period between 2014 and 2020. As a result, the market, which had
a valuation of 39,140.12 kilo tons, will reach 44,165.11 kilo tons by
2020.
The report credits
the market’s future growth prospects to the rapid industrialization
in Asia Pacific and the rising number of vehicles in the global
market. On the other hand, factors such as the advent and rising
popularity of hybrid and electric vehicles and the trend of extending
engine oil drain intervals beyond the timeframes recommended by
engine manufacturers are expected to have a negative impact on the
growth prospects of the market to a certain extent.
The report segments
the global lubricants market on the basis of three criteria: product
type, application, and geography.On the basis of product type, the
market has been segmented into biobased, mineral oil, and synthetic
lubricants. Of these, the segment of mineral oil held the largest
share in the global market, nearly 80% in 2013. Owing to the rising
concerns regarding the ill-effects of petroleum-based and a variety
of synthetic lubricants on the environment, the market for biobased
lubricants is expected to garner increased attention over the
report’s forecast period.
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On the basis of
application, the market has been segmented into automotive oils,
grease, metalworking fluids, industrial oils, and others. Of these,
the segment of automotive oils led the global market, accounting for
over 50% in the market in 2013. Improved GDPs and rising disposable
incomes of the population have significantly propelled the automotive
market in Asia Pacific, subsequently driving the lubricants market.
On the basis of
geography, the market has been segmented into Asia Pacific, North
America, Europe, and Rest of the World. Asia Pacific accounted for
the largest share in the global market, nearly 40% in 2013. The
rising number of infrastructure development activities, coupled with
the continuously increasing number of passenger cars in China, has
significantly contributed to the overall growth of the lubricants
market in Asia Pacific.
The report also
presents a detailed overview of the competitive landscape of the
global lubricants market, which features the dominance of a handful
of MNCs. The report includes detailed business profiles of some of
the key market vendors, presents qualitative as well as quantitative
data about their finances and business strategies, and analyzes the
impact of recent developments on the market’s future growth
prospects. The market is difficult to enter for new entrants. Some of
the key companies operating in the global lubricants market are
Idemitsu Kosan, BP, Chevron, Fuchs Petrolub, ExxonMobil, Total,
Lukoil Oil Company, Royal Dutch Shell, Sinopec, and PetroChina.
Lubricants
Market: Product Analysis
- Mineral oil
- Synthetic
- Bio-based
Lubricants
Market: Application Analysis
- Automotive oils
- Industrial oils
- Metalworking fluids
- Grease
- Others
Lubricants
Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East
- RoW (Rest of the world)
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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