Lubricants Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

  • TBI470389
  • November 29, 2020
  • Global
  • 132 pages
  • Lucintel

Abstract, Snapshot, Market Analysis & Market Definition: Lubricants Market

Industry / Sector Trends

Lubricants Market size was over 37 billion tons in 2014 with 2.9% CAGR estimation from 2015 to 2022. U.S. Lubricants Market size, by application, 2013-2024 (USD Million) Rising automobile demand will stimulate lubricants market size in future. Lubricant is used to reduce friction and prevent wear and tear in automotive engine components including shaft, connecting rods and piston. Rapid industrialization in developing countries will further complement the industry growth. Increasing demand from manufacturing sectors including medical devices and 3D printing will drive the lubricants market size growth during forecast period. Decline in crude oil price results into low base oil prices which will positively impact business growth. Base oils prices are downstream in nature so it is expected to improve from 2017. Refining companies has backward integration to ensure raw material supply for petrochemicals manufacturing industries. Stringent environmental regulations coupled with declining crude oil output are expected to have negative impact on supply for downstream and refining and refining operations. Increasing environmental concerns towards aqueous toxicity of conventional products and biodegradability has increased the importance of the bio-based lubricants market which will propel the business growth in future. Petrochemical price fluctuation will further complement the industry growth from 2015 to 2022.

Market Segmentation, Outlook & Regional Insights: Lubricants Market

Lubricants Market, By Application

Industrial lubricants market share contributed 40% in 2014 owing to high consumption and revenue generation of general industrial oils. It has wide application in chemicals, unconventional energy and mining sector and is expected to strengthen its demand in compressors, bearings, centrifuges, hydraulics and industrial engines in future. Lubricants market demand from metal working fluids is expected to witness growth over 8% during forecast period. Process oil has wide application in technical and chemical industry to improve manufacturing process. Increasing chemicals demand mainly in Asia Pacific is expected to propel the industry growth from 2015 to 2022.

Lubricants Market, By Region

Increasing demand for machinery maintenance from manufacturing sector to minimize the operational cost will stimulate the business growth in future. Asia Pacific is expected to witness growth during forecast period subject to increasing demand from machining, mining, plastics and metal forming industry mainly in China and India which has resulted in capability expansions. India lubricants market size is expected to witness growth over 11%, in term of revenue during forecast timeframe owing to the strong domestic lubricant consumption demand through the automotive and manufacturing industries. For instance, by April 2016, sales of passenger vehicles increased by over 10%, while scooters increased over 33%, and demand for motorcycle increased by over 15% which will positively encourage the industry outlook during forecast period. Installation of large number of power plant is expected to positively influence China lubricants market size share in coming year. China was valued over 5 million tons in 2015. Regional manufacturers should be complied with Petroleum Act, Public Liability Insurance Act, Factories Act, Stockholm Convention on Persistent Organic Pollutants. Sluggish industrial output in Europe will propel the demand for low cost products in the region. Increasing focus on fuel economy and carbon dioxide reduction will further stimulate the Europe lubricants market size in coming year. Germany contributed over 10% of regional volume share in 2015 and is expected to witness growth over 5% in term of revenue from 2015 to 2022. Increasing demand for consumer goods, capital goods and construction sector will complement the industry outlook. U.S. lubricants market share was over 5 million tons and is expected to witness significant growth in future owing to increasing spending in infrastructure segment. American Society of civil engineers estimated that over USD 3.5 trillion investment is required to bring Americas infrastructure into good condition by 2020.

Key Players, Recent Developments & Sector Viewpoints: Lubricants Market

Lubricants market players include British Petroleum, Sinopec, Idemitsu, Shell and Total are integrated lubricant manufacturer which ensure raw material supply to produce additive and mineral oil. Through integration, companies get benefitted in term of widening their operation scope and market expansion. Most of manufacturer are tied up with oil & gas companies to ensure supply of raw material. With crude oil reserve depletion, market has witness decline in raw material supply. Therefore to stabilize the scenario, O&G companies have started emphasizing on developing new refining techniques. This industry is dominated by Shell, Chevron, ExxonMobil and BP which collectively accounted for over 40% of the overall demand in 2014.

Lubricants Industry Viewpoint

Lubricant is a substance used to reduce the friction between the surface when came into mutual contacts. It has antifoaming, anti-wear and antioxidant properties and has wide application in industrial, automobile, agriculture, mining, steel and manufacturing sectors. It is also used as cutting fluids such as, oil emulsion in several industries. Oil emulsion in water is widely used as cutting fluid. These fluids are used to cool or lubricate the surface. Increasing automobile sales will positively influence the lubricants market growth during forecast period.

Key Insights Covered: Exhaustive Lubricants Market

1. Market size (sales, revenue and growth rate) of Lubricants industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Lubricants industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Lubricants industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Lubricants industry.

Research Methodology: Lubricants Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Lubricants Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Lubricants Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Lubricants Production Value 2014-2025
        2.1.2 Global Lubricants Production 2014-2025
        2.1.3 Global Lubricants Capacity 2014-2025
        2.1.4 Global Lubricants Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Lubricants Market Size CAGR of Key Regions
        2.2.2 Global Lubricants Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Lubricants Capacity by Manufacturers
        3.1.2 Global Lubricants Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Lubricants Revenue by Manufacturers (2014-2019)
        3.2.2 Lubricants Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Lubricants Concentration Ratio
    3.3 Lubricants Price by Manufacturers
    3.4 Key Manufacturers Lubricants Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Lubricants Market
    3.6 Key Manufacturers Lubricants Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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