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. In addition, 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.

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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. On the other hand, the factor such as growing shift towards high drain intermission lubricants such as synthetic lubricants. The usage of synthetic lubricants raises the drain out time and as a result the lubricants consumption declines, hereafter the complete lubricants shrinks. Furthermore, high cost of bio-based and synthetic lubricants reduces its consumption, which in turn is likely to affect the demand of the market. The growing acceptance of hybrid electric vehicles could hamper the development of the market in the forecast period.

Lubricants Market may be explored by type, applications, and geography. Market may be explored by type as Synthetic Lubricants, Mineral Oil Lubricants, Bio-based Lubricants, and Greases. Mineral oil lubricants segment is dominating the segment type due to its easy availability and cost-effectiveness. Although, growing strict government regulations and rising awareness among consumers are estimated to foster the market growth in the forecast period. Furthermore, Greases owing to its high usage in numerous manufacturing businesses recorded the highest CAGR during the forecast period.

Lubricants Market may be explored by Applications as Industrial, (Process oils, General industrial oils, Metalworking fluids, Industrial engine oils, Greases, Others), Automotive, (Engine oils, Gear oils, Transmission fluids, Brake fluids, Coolants, Greases), Marine, (Engine oil, Hydraulic oil, Gear oil, Turbine oil, Greases, Others), and Aerospace, (Gas turbine oils, Piston engine oils, Hydraulic fluids, Others). Automotive sector of lubricant is the dominant application of the market in 2016, covering 56.0% of the market share by volume. This is due to rapid increase in the demand for consumer vehicles as well commercial across numerous developing countries, comprising India and China.

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. These developing countries have observed a robust financial progress in recent years and show ample chances for development.

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. Moreover, severe rules pertaining to waste disposal are projected to initiate innovation in the rubber sector, consequently profiting the business.

Some of the key players that fuel the growth of the Lubricants Industry include Exxon Mobil Corporation, Idemitsu Kosan Co., Ltd., Royal Dutch Shell Plc., Sinopec Limited, Petrochina Company Limited, Total S.A., Lukoil, BP Plc., Fuchs Petrolub AG, Chevron Corporation, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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Global Synthetic Lubricants Market is expected to reach USD 23.45 billion by 2024. Synthetic lubricants are termed as a lubricant formed by chemical synthesis relatively by refinement or extraction of petroleum to form a compound with predictable properties. It is superior to conventional mineral oil-based lubricants. The Synthetic Lubricants Market is estimated to grow at a significant CAGR of 2.8% over the forecast period as the scope and its applications are rising enormously across the globe.

Growing awareness regarding advantages of products, high demand from automotive industries, and rising R&D investment by industries for the development of enhanced grades are documented as major factors of synthetic lubricants market that are estimated to enhance the growth in the years to come. However, low cost of mineral oil may affect synthetic oil demand is a factor that may restrain overall market growth in the coming years. Synthetic lubricant market is segmented based on product type, application, and region.

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Group V and group IV are the product types that could be explored in Synthetic Lubricants in the forecast period. Group IV comprises Polyalphaolefin (PAO). On the other hand, group V comprises polyalkylene glycol (PAG), esters, silicone, biolubes, polyolester, and others. PAO sector accounted for the substantial market share of Synthetic Lubricants and is estimated to continue its dominance on the coming years. Also, in terms of volume ester-based products sector is estimated to grow at fastest pace in the coming years.

The market may be categorized based on applications like Metalworking Fluids, Engine Oil, Transmission Fluids, Heat Transfer Fluids (HTF), and others could be explored in the forecast period. Engine oil sector accounted for the substantial market share of Synthetic Lubricants and is estimated to lead the overall market in the coming years. This may be because of growth in automobile sales mainly in developing countries. Also, heat transfer fluids (HTF) sector is estimated to grow at fastest pace with highest CAGR in the coming years.

Globally, North America accounted for the substantial market share of Synthetic Lubricants and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturers in the region like automotive and aerospace industries and rising importance of lubrication cost. The United States is a major consumer of Synthetic Lubricants in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise increasing automobile sectors in developing countries like Malaysia, China, Indonesia, and India, presence of oil industries, and widespread distribution networks.

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The key players of Synthetic Lubricants industry are Total, British Petroleum, Exxon Mobil, Valvoline, Shell, The Dow Chemical Company, and Chevron. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Market Segment:

Synthetic Lubricants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
• PAO
• Esters
• PAG

Synthetic Lubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
• Engine Oil
• Heat Transfer Fluids (HTF)
• Transmission Fluids
• Metalworking Fluids
• Others

Synthetic Lubricants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Latin America
• Brazil
• MEA
• U.A.E

The Automotive Lubricants Market growth is expected to gain high momentum during the forecast period due to complex engine and transmission system designs.

Increasing complex designs for automotive engines, transmission systems, is leading to the demand for more advanced lubricants to operate in extreme conditions. Moreover, recycling is another key factor influencing the growth of the automotive lubricants market. The automotive sector has witnessed recovery in a few years. Moreover, lubricants form key constituents of automotive aftermarket consumables. Moreover, the average life of vehicles has expanded to 11 years due to automotive lubricants.

An automotive lubricant is a substance, typically natural, introduced to carry out two essential tasks. The first one is to control friction and wear, which it does by isolating the two collaborating machine surfaces with a film. The second task is temperature control. The automotive lubricant retains heat, diverts it from the component, and disseminates it in the sump or a cooler.

Key Factors Impacting Market Growth:

Complex engine and transmission system designs

Stringent norms on carbon emissions

Investments in R&D activities

Rising consumer awareness and affordability

Rising adoption of electric vehicles may restrain market growth

Regional Analysis:

By region, North America, Western Europe, and Asia Pacific are estimated to dominate the automotive lubricants market in terms of market demand. North America and Western Europe have been traditional markets for the automotive sector with several global manufacturers headquartered in this region. The automotive sector in these regions has been dynamic in terms of technological developments and product modifications. The demand for lightweight materials, cleaner emissions, and green fuels have been some of the key influencing factors in this region. Also, the market has witnessed steady recovery from recent slowdowns in the past decades. Some of these factors are expected to impact the dynamics of the automotive lubricants market in North America and Western Europe during the forecast period. The US, Germany, France, Italy, UK, and Spain have been some of the major economies for the automotive lubricants market in the region.

Asia Pacific is estimated to be the fastest-growing region for the automotive lubricants market during the forecast period. This region has been one of the lucrative markets for the automotive sector in the past few decades with strategic investments by global companies in the region. China, Japan, India, and South Korea have been some of the major countries for the automotive lubricants market in the Asia Pacific region. The Middle East promises a strong market potential with the growth of the automotive sector in the region. Countries including UAE, Saudi Arabia, Qatar, and Iran have been diversifying the industrial sector to boost the economy in the past few decades. Other regions including Eastern Europe, South America, and Africa are estimated to emerging markets with growing demand during the forecast period.

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Companies Covered:

Shell, ExxonMobil, TOTAL, Chevron, FUCHS, Valvoline, Idemitsu Kosan, Lukoil, JX Group, and BP Castrol

Market Segmentation:

By Base Oil:

Mineral Oil Lubricants

Bio-Based Lubricants

Synthetic Lubricants

Semi-synthetic Lubricants

By Vehicle Type:

Light Commercial Vehicles (LCVs)

Heavy Commercial Vehicles (HCVs)

Passenger Cars

Other Motor Vehicles

By Application:

Transmission Fluids (Manual/Automatic)

Engine Oil

Gear & Brake Oil

Coolants

Greases

Others

By Region:

North America

By Country (US, Canada, Mexico, Rest of North America)

By Base Oil

By Vehicle Type

By Application

Western Europe

By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)

By Base Oil

By Vehicle Type

By Application

Eastern Europe

By Country (Russia, Turkey, Rest of Eastern Europe)

By Base Oil

By Vehicle Type

By Application

Asia Pacific

By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)

By Base Oil

By Vehicle Type

By Application

Rest of the World

By Region (South America, Africa)

By Base Oil

By Vehicle Type

By Application

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Broad scope to cover all the possible segments helping every stakeholder in the market

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We provide customization of the study to meet specific requirements:

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Global Lubricants Market: Demand Analysis and Growth Forecast

Lubricants are the preferred stimulants for a smooth run of heavy-duty equipment and machinery. Increasing demand for these lubricants is owing to the increasing economic development and companies focus to optimal capacity and complexity management. Lubricants are actually intended to reduce the friction between mutual contact surfaces that is known as lubricity. An optimal lubricant possesses a high boiling point, low freezing point, thermal stability, high viscosity index, demulsibility, hydraulic stability, high resistance to oxidation and corrosion prevention properties. Present lubricants are more advantageous as they protect against the hazardous environment, and heavy loads along with the reduction in downtime, and labor costs as well.

The global lubricants market size hovered around $123 billion as of 2018 and is set to grow at a CAGR of 2.8% during the forecast period of 2019 to 2025. The report is published by market research firm IndustryARC, and is titled: Lubricants Market: By Type (Engine Oil, Gear Oil, Hydraulic Fluid, Metalworking Fluids, Greases, Turbine Oil, Compressor Oil, Others) Base Oil (Mineral, Synthetic, Bio-based, Others) Application (Automotive, Industrial, Others) & Geography – Forecast (2019-2025).”

Global Lubricants Market: Leading Segments

Asia-pacific region held a dominating share that is around 42% in the global lubricants market in 2018. In Sri Lanka, vehicle population has increased to 7,247,122 in 2017 from 6,795,469 in 2016. This increase is due to the growth of automotive lubricants that is it holds 70% sales of the Sri Lanka lubricants market. Automotive lubricants are providing several requirements of an industry by satisfying stringent specification. Therefore automotive application is estimated to be the fastest growing application with a notable CAGR of 5.2% over the forecast period 2019-2025.

Global Lubricants Market Trends

Growing advanced lubrication needs are attracting the OEMs to switch their choice and preference from conventional oils to the synthetic oils as they have exceeding capabilities.
Long life to equipment and high performance offered by lubricants are gaining traction of consumers and increasing the consumer base of lubricants in Asian countries more
In 2018 ExxonMobil Corporation, the largest publicly traded international oil and gas company acquired MPM Lubricants, which is a key consumer automotive companies. This acquisition was aimed to expand lubricants innovative product portfolio and enhance the consumer’s productivity in Indonesia. In 2017, ExxonMobil Corporation has signed an agreement to acquire Jurong Aromatics Corporation Pte Ltd which manufactures aromatics and transportation fuels.
In 2019 Brenntag, the market frontrunner in chemical distribution has acquired the lubricants division of Reeder Distributors, Inc, which is an integrated lubricant distributor in U.S. to strengthen the U.S. lubricants business.

Global Lubricants Market: Competitive Landscape

Royal Dutch Shell PLC, ExxonMobil Corporation, British Petroleum Plc, Chevron Corporation, Total SA, Petrochina Company Limited, Sinopec Limited, Lukoil, Fuchs Petrolub AG, and Idemitsu Kosan Co. Ltd. are the major strategic players which are holding maximum market share in the global lubricants market

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Related Reports:

Industrial Lubricants Market: By Type (Gear, compressor, hydraulic, turbine, metal working, bearing, coolants, penetrating oils); By compound (fluids, greases, oils); By applications (air compressors, bearings, food machinery, gas engines, gears, hydraulics, machining, turbines, power generation); By end-user Industry (automotive, aerospace, military, marine, chemicals, food processing, textiles, railroads, construction, agriculture, timber and logging); By Geography - Forecast (2018-2023)
https://www.industryarc.com/Report/15901/industrial-lubricants-market.html

Indian Industrial Lubricants Market: By Type (Gear, Compressor, Hydraulic, Turbine, Metal Working Lubricants & Others), By Application (Automotive, Marine, Power Generation, Chemicals, Food Processing, Textiles & Others) & By Geography - Forecast(2018 - 2023)
https://www.industryarc.com/Report/18243/indian-industrial-lubricants-market-research-report-analysis.html

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