Lubricant Market Key Players by 2024 Chevron, Shell, Sinopec, Castrol, BP, PetroChina, ExxonMobil, Nippon Oil whereas, ExxonMobil, BP, Shell

Lubricant Market is estimated to surpass USD 75 billion by 2022, according to new research report. Lubricants are substances which are used to reduce friction between surfaces when come to contact. It has wide application in automobile, industrial, steel, agriculture and manufacturing industry due to its anti-wear, antifoaming and anti-oxidant properties. Lubricants are invariably used as cutting fluids, oil emulsions to cool or lubricate and as catalyst for improved machine performance.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/356

Increasing automotive sales should influence lubricant market industry growth positively during the foreseeable timeframe. Lubricants are used to reduce wear and tear of engines, shaft, rods and piston. The motor vehicle aftermarket is expected to show the largest share in global lubricant market.

Industrial lubricants are extensively used as process oils, metal working fluids and industrial engine oils and is expected to generate USD 28 billion by 2022. It has wide application in chemical, mining and unconventional energy industry and is expected to influence demand in bearing, compressors, hydraulics and industrial engines.

Lubricant market demand from process oil should grow at a CAGR of 3% during forecast timeframe due to its wide application scope in chemical and technical industry, improving manufacturing process.

Increased investment in product development and R&D by major companies have introduced biodegradable lubricants, complying with various environmental regulations, standards and policies. Increased importance of bio-based lubricants should propel business growth in future.

Lubricant price trends depend on global crude oil price and nelson index of refinery. Nelson index defines the complexity of refinery, higher the index no greater the complexity and higher will be petrochemical production capacity. Crude oil prices are expected to rise during 2017-18 which will increase price trend for lubricants.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/356

Partial Chapter of the Table of Content

Chapter 3 Lubricants Industry Insights

3.1 Industry Segmentation

3.2 Industry Size and forecast

3.3 Industry ecosystem analysis

3.4 Regulatory landscape

3.4.1 EPA

3.4.2 FDA

3.4.3 ECHA

3.5 Industry Impact forces

3.5.1 Growth drivers

3.5.1.1 Growing industrialization in emerging markets

3.5.1.2 Favorable prospects for the automotive industry

3.5.2 Industry pitfalls & challenges

3.5.2.1 Bio-based lubricants demand

3.5.2.2 Regulatory scenario

3.6 Raw material analysis

3.7 Growth potential analysis

3.8 Porter’s analysis

3.9 Company market share analysis, 2014

3.10 PESTEL analysis

Browse Full Report @ https://bit.ly/1Sqle56

Asia pacific lubricants market is anticipated to grow at the highest rate of over 11% during forecast timeframe owing to increasing demand for automobiles and machinery maintenance industry. China and India leads the race with capability expansion in mining, plastics and metal forming industry. India is a major exporter for lubricants to other nations due to its high refining capacity.
Europe led by Germany, Spain and Italy should consume over 9 million tons of lubricants by 2022. This increase in demand can be attributed to rising automotive industry and stringent environment protection acts from automotive industry should drive regional industry growth.

Major companies apply integration strategy to lower production cost of lubricants. Some major players following this strategy are British Petroleum, Shell, Total and Sinopec. Integration widens their operation scope and market expansion. Some other players include Chevron, HP andIndian Oil.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

This release was published on openPR.