Finished Lubricants Market Analysis Key Players - BP, Castrol Lubricants, Shell Oil Marketing Company, Essar Oil, Sinopec Corp.

The Global Finished Lubricants Market Was Worth USD 92.04 Billion In 2017 And Is Anticipated To Grow At A CAGR Of 5.4% During The Forecast Period.

Finished lubricants business is a lucrative industry and the competitiveness of it is varies differently in all the regional markets. Product specifications and product specific demands vary largely in different regional industry space and is dependent mainly of the economic development and the industrialization development in the region. Globally on an average demand estimates, it was the engine oil segment that constituted the largest share of finished lubricant consumption.

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Even though the significantly increasing automobile fleet will support the gains and the engine oils segment will be subject to the downward pressure from the lightening drain intervals. This as a result of it will in demand figures at an average pace. Hydraulic fluids and finished lubricants for process oil support are expected to be among the fastest growing owing to the variety of applications that can be used for. Gear oils, grease and general industrial fluids are projected to experience surge in demand from the trends of growing industrialization and mechanization in the developed and emerging nations.

The global finished lubricant business has been significantly influenced by trends such as the emergence of e-commerce as the new mode of distribution, mandates for electric vehicles, the emerging ecosystem for industrial manufacturing, and the rising power of OEMs etc. Aftermarket demand of motor vehicles constitute the largest share in terms of rate of consumption of finished lubricants.

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Automotive finished products demand is anticipated to increase more rapidly in the developing nation owing to the fast increase in the number of trucks and cars in use. Moreover, significant enhancements in in finished lubricant quality has been crucial for allowing long drain intervals and restraining stronger product demand in all the regional industries.

Competitive Landscape and Key Vendors

Asia Pacific region accounted for the largest regional market share in 2017. Sales volume in the region are expected to grow at the fastest rate compared to the other regional industries. This is owing to rising vehicle ownership rates and rapidly increasing industrialization in India, China and some of the Southeast Asian countries.

Western Europe and North America are expected to experience slow growth, where the efficiency gains will offset the effects of rising industrial and economic output. However, growth in sales volume will be restrained in these regions. The finished lubricant manufacturers will experience higher demand in the coming years from rising demand for high-value and premium products including the bio-based and semi-synthetic finished lubricants.

Some of the leading industry participants include-

BP, Castrol Lubricants, Shell Oil Marketing Company, Essar Oil, Sinopec Corp., Universal Lubricants, Bharat Petroleum, Hindustan Petroleum, Reliance Oil, Gulf Oil Corporation etc.

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Key Segments

Finished Lubricant Type Segments

• Metalworking fluids
• Transformer Oils
• Gear Oils
• Hydraulic Oils
• Engine Oils

Engine Oil Viscosity Segments

• 0W, 5W, 10W
• 15W, 20W, 25W

Base Oil Source Segments

• Mineral Based Oil
• Synthetic Based Oil
• Semi-synthetic Based Oil
• Others

Base Oil Grade Segments

• Grade 1
• Grade 2
• Grade 3
• Grade 4 & 5

Application Segments

• Compressor
• Transformers
• Bearings
• Natural Gas Engines
• Hydraulics
• Metal Working
• Heat Transfer Equipment
• Others

End-Use Segments

• Automotive
• Oil Refining
• Textile Manufacturing
• Metal Working
• Petrochemical
• Industrial
• Others

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