Lubricants Market In India to Grow by 809.93 th tons | Technavio
NEW YORK, Feb. 17, 2022 /PRNewswire/ -- The lubricants market in India is expected to grow by 809.93 thousand tons from 2021 to 2026. The growth momentum of the market will progress at a CAGR of 5.58% during the forecast period. Technavio analyzes the market by product (mineral oil-based lubricants, synthetic lubricants, and bio-based lubricants) and application (automotive oils, industrial oils, process oils, metalworking fluids, and greases).
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Market Scope
The lubricants market in India covers the following areas:
Lubricants Market In India Sizing
Lubricants Market In India Forecast
Lubricants Market In India Analysis
Driver and Challenge
One of the key drivers supporting the lubricants market growth in India is the increasing demand from end-user industries. Lubricants are used in construction equipment because of their characteristics, such as anti-wear and resistance to corrosion. Hydraulic fluids made from lubricants are used in earthmoving equipment such as crawler excavators and mini excavators, owing to their high energy transmission capacity. They are also used to increase the drain/re-greasing intervals of the equipment, lubrication efficiency, and the wear resistance of friction pairs, as well as to enhance the lifespan of the equipment. They are used as hydraulic fluids, compressor oils, and others in the steel industry for various applications. Equipment such as blast furnaces, continuous castings, and others require lubricants to reduce downtime and increase operational efficiency. Such factors will drive market growth during the forecast period.
The growth of the lubricants market in India is hindered by fluctuations in crude oil prices. The increasing prices of crude oil in India have adversely impacted the manufacturers and end-users. Fluctuations in crude oil prices cause volatility in raw material prices. Synthetic lubricants are primarily derived from hydrocarbons, which are derived from petroleum. Synthetic esters, PAOs, phosphate esters, glycols, and other silicate esters obtained from petroleum are a few other major sources of construction lubricants. Volatility in raw material prices can adversely affect the supply and profit margins of manufacturers.
Parent Market Analysis
Technavio has categorized the lubricants market in India as a part of the global specialty chemicals market. This report has extensively covered external factors influencing the parent market growth potential in the coming years. These factors will determine the levels of growth of the lubricants market in India during the forecast period.
Some Companies Mentioned and Their Offerings
- Bharat Petroleum Corp. Ltd. - The company offers lubricant products that include engine oil, gear oils, greases, petrol, oil, grease, penetrating lubricants, dry lubricants, and many more, under the brand name of Bharat Petroleum Corp. Ltd.
- BP Plc - The company offers lubricant products that include gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, and many more, under the brand name of BP Plc.
- Exxon Mobil Corp. - The company offers lubricant products that include crude oil, natural gas, petroleum products, petrochemical, natural gas exploration, production, refining and many more, under the brand name of Exxon Mobil Corp.
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Lubricants Market In India Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.58% |
Market growth 2022-2026 |
809.93 th tons |
Market structure |
Fragmented |
YoY growth (%) |
4.75 |
Regional analysis |
India |
Performing market contribution |
India at 100% |
Key consumer countries |
India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bharat Petroleum Corp. Ltd., BP Plc, Exxon Mobil Corp., Gulf Oil Lubricants India Ltd., Indian Oil Corp. Ltd., Oil and Natural Gas Corp. Ltd., Royal Dutch Shell Plc, Tide Water Oil Co. Ltd., TOTAL SE, and Valvoline Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 - 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Mineral oil-based lubricants - Market size and forecast 2021-2026
- Synthetic lubricants - Market size and forecast 2021-2026
- Bio-based lubricants - Market size and forecast 2021-2026
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application
- Automotive oils - Market size and forecast 2021-2026
- Industrial oils - Market size and forecast 2021-2026
- Process oils - Market size and forecast 2021-2026
- Metalworking fluids - Market size and forecast 2021-2026
- Greases - Market size and forecast 2021-2026
- Market opportunity by Application
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Bharat Petroleum Corp. Ltd.
- BP Plc
- Exxon Mobil Corp.
- Gulf Oil Lubricants India Ltd.
- Indian Oil Corp. Ltd.
- Oil and Natural Gas Corp. Ltd.
- Royal Dutch Shell Plc
- Tide Water Oil Co. Ltd.
- TOTAL SE
- Valvoline Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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