Worldwide Market for Lubricants to 2030 - Increasing Lubricants Demand from Growing Automotive Industry
DUBLIN, Dec. 4, 2020 /PRNewswire/ -- The "Lubricants Market Research Report: By Base Oil, Product Type, End User - Global Industry Analysis and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global lubricants market is expected to reach a value of $115,350.6 million, increasing from $95,403.9, advancing at a 2.3% CAGR during the forecast period (2020-2030). The key factors resulting in the growth of the market are increasing sales of new vehicles in emerging economies and rising consumer awareness regarding lubricants. On the basis of product type, the market is divided into process oil, grease, gear oil, engine oil, metalworking oil, general industrial oil, and transmission and hydraulic oil.
The engine oil division held the major share of the market in the past and is further projected to dominate the market during the forecast period as well. The increasing requirement for vehicles and expanding the transportation industry around the world are leading to the rising need for engine oil. Additionally, people, these days are becoming more aware of the benefits of utilizing lubricants in their vehicles. These products aid in enhancing the mileage of the vehicle and increasing its life-span.
The lubricants market is categorized into chemical, food & beverages, automotive and other transportation, metallurgy and metalworking, and heavy equipment, out of which, the automotive and other transportation category accounted for the major share of the market in 2019. With the increasing disposable income of people, the sales of vehicles are also growing. This, in turn, is leading to the growth of the transportation industry. Moreover, the demand for lubricants is also increasing because of the expanding mobility services sector across the globe.
Geographically, the Asia-Pacific region dominated the global lubricants market in 2019 and is projected to hold the largest share of the market during the forecast period as well. The shift of manufacturing plants from around the world in Asian countries, including India and China, because of less strict environmental rules and low labor costs, is driving the regional domain. The Middle East and African region are expected to register the fastest growth during the forecast period.
The increasing sales of vehicles in developing countries, including Brazil, China, India, and Mexico, is the key factor leading to the growth of the lubricants market. The per capita income in these countries has increased significantly, owing to which, the demand for vehicles has also risen. Lubricants are utilized in the crankcase of the engine of the vehicle for ensuring that the vehicle is operating efficiently. These products also reduce friction, thereby decreasing the wear and tear of vehicles and enhancing their lifespan.
The lubricants market has also been registering growth because of the increasing awareness among consumers about the advantages of these products. Before the awareness regarding lubricants was only limited to western countries, however, now people are becoming aware of these products all across the globe. Companies in the domain are also adopting newer methods for increasing brand awareness among people. For example, enterprises are offering free samples and gifts to users, thereby increasing awareness and interest in lubricants.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Base Oil
1.3.2 Market Segmentation by Product Type
1.3.3 Market Segmentation by End-user
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By Region
2.2.1.2 By Industry Participant
2.2.1.3 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Base Oil
4.1.1.1 Mineral Oil
4.1.1.2 Synthetic Oil
4.1.1.3 Bio-Based Oil
4.1.2 By Product Type
4.1.2.1 Engine Oil
4.1.2.2 Transmission and Hydraulic Fluid Oil
4.1.2.3 Gear Oil
4.1.2.4 General Industrial Oil
4.1.2.5 Grease
4.1.2.6 Metalworking Oil
4.1.2.7 Process Oil
4.1.2.8 Others
4.1.3 By End-user
4.1.3.1 Automotive and Other Transportation
4.1.3.2 Heavy Equipment
4.1.3.3 Food and Beverages
4.1.3.4 Metallurgy and Metalworking
4.1.3.5 Chemical
4.1.3.6 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Adoption of Bio-Based Lubricants Among Consumers
4.3.2 Drivers
4.3.2.1 Increasing Lubricants Demand from Growing Automotive Industry
4.3.2.2 Growing Consumer Awareness About Lubricants
4.3.2.3 Impact Analysis of Drivers on Market Forecast
4.3.3 Restraints
4.3.3.1 Arrival of Hybrid-Electric Vehicles
4.3.3.2 Fluctuating Crude Oil Market
4.3.3.3 Impact Analysis of Restraints on Market Forecast
4.3.4 Opportunity
4.3.4.1 Regulations for End-Use Industries Provide Growth Opportunities to Lubricant Manufacturers
4.4 Impact of COVID-19
4.4.1 Global Share by Countries
4.4.1.1 Contribution of Countries Toward Global Manufacturing Output
4.4.2 Contribution of Countries Toward Global Export and Import (2019)
4.4.2.1 Top 20 Countries by Export ($B)
4.4.2.2 Top 20 Countries by Import ($B)
4.4.3 Global Scenario of COVID-19 Impact
4.4.4 Global Scenario
4.4.4.1 Gross Domestic Product (Gdp) Growth Rate (2019)
4.4.4.2 Gdp Growth Rate (2020)
4.4.4.3 Gdp Growth Rate Projection for 2021
4.4.5 Assessment of COVID-19 Impact on Gdp and Economic Forecast
4.4.6 Assessment of COVID-19 Impact on Workforce Across Various Sectors
4.4.7 Impact of COVID-19 on Global Lubricants Market
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Base Oil
5.2 By Product Type
5.3 By End-user
5.4 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Base Oil
6.2 By Product Type
6.3 By End-user
6.4 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Base Oil
7.2 By Product Type
7.3 By End-user
7.4 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Base Oil
8.2 By Product Type
8.3 By End-user
8.4 By Country
Chapter 9. Latam Market Size and Forecast
9.1 By Base Oil
9.2 By Product Type
9.3 By End-user
9.4 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Base Oil
10.2 By Product Type
10.3 By End-user
10.4 By Country
Chapter 11. Major Markets: Segment Analysis
11.1 U.S., by Base Oil
11.2 U.S., by Product Type
11.3 U.S., by End-user
11.4 China, by Base Oil
11.5 China, by Product Type
11.6 China, by End-user
11.7 India, by Base Oil
11.8 India, by Product Type
11.9 India, by End-user
11.10 Japan, by Base Oil
11.11 Japan, by Product Type
11.12 Japan, by End-user
11.13 Russia, by Base Oil
11.14 Russia, by Product Type
11.15 Russia, by End-user
Chapter 12. Competitive Landscape
12.1 Competitive Analysis of Key Players
12.2 Competitive Benchmarking of Key Players
12.3 List of Other Players
12.4 Strategic Developments in the Market
12.4.1 Mergers and Acquisitions
12.4.2 Product Launches
12.4.3 Partnerships
12.4.4 Facility Expansions
Chapter 13. Company Profile
13.1 Petrochina Company Limited
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 Bp P.L.C.
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.2.3 Key Financial Summary
13.3 Sinopec Group
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.3.3 Key Financial Summary
13.4 Royal Dutch Shell P.L.C.
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.4.3 Key Financial Summary
13.5 Fuchs Petrolub Se
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 Idemitsu Kosan Co. Ltd.
13.6.1 Business Overview
13.6.2 Product and Service Offerings
13.6.3 Key Financial Summary
13.7 Chevron Corporation
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.7.3 Key Financial Summary
13.8 Illinois Tool Works Inc.
13.8.1 Business Overview
13.8.2 Product and Service Offerings
13.8.3 Key Financial Summary
13.9 Buhmwoo Chemical Ind. Co. Ltd.
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.10 Castrol Ltd.
13.10.1 Business Overview
13.10.2 Product and Service Offerings
13.11 Petroleo Brasileiro S.A.
13.11.1 Business Overview
13.11.2 Product and Service Offerings
13.11.3 Key Financial Summary
13.12 Hindustan Petroleum Corporation Limited
13.12.1 Business Overview
13.12.2 Product and Service Offerings
13.12.3 Key Financial Summary
Chapter 14. Appendix
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