Press release
Lubricants Market 2015-2022 (ExxonMobil, Shell, BP, Total, Chevron, Phillips 66, Valvoline Inc., Castrol, PetroChina, Sinopec, LUKOIL, Petrobras, Petronas, Quaker Chemical Corporation) these are major companies.
U.S. Lubricants Market size, by application, 2013-2024 (USD Million)
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Asia Pacific may witness considerable growth over forecast timeframe owing to increasing infrastructure demand from developing countries coupled with rapid expansion of automotive industry. China lubricants market size was valued over USD 6 billion in 2014 on account of increasing power plant installation. Increasing automobile sales with declining sale tax may further stimulate the business growth.
Growth drivers
• Growing industrialization in emerging markets
• Favorable prospects for the automotive industry
Industry pitfalls & challenges
• Bio-based lubricants demand
• Regulatory scenario
Lubricants Market size is likely to exceed USD 74 billion by 2022; according to a new research report by Global Market Insights, Inc. Increasing automobile sale coupled with rapid urbanization primarily in Asia Pacific region will propel the global lubricants market size from 2015 to 2023. Its property to improve overall engine efficiency by reducing friction may positively influence the business growth. In Asia Pacific, vehicle sales reached from 37.51 million units in 2014 to 38.40 million units in 2015.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ExxonMobil
2. Shell
3. BP
4. Total
5. Chevron
6. Fuchs Lubricants Co.
7. Pennzoil
8. Amsoil Inc.
9. Phillips 66
10. Valvoline Inc.
11. Castrol
12. PetroChina
13. Sinopec
14. Idemitsu Oil & Gas Co. Ltd.
15. LUKOIL
16. JX Nippon Oil & Energy Europe
17. Petrobras
18. Petronas
19. Quaker Chemical Corporation
20. Petrofer Chemie H.R. Fischer GmbH + Co. KG
21. Zeller+Gmelin Corporation
22. BUHMWOO CHEMICAL Co., Ltd.
23. Blaser Swisslube
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Growing investment towards exploration and production of conventional and unconventional resources may result the oil field chemicals demand which will stimulate the lubricants market share. Positive outlook towards manufacturing sector including 3D printing and medical equipment will further complement the business landscape.
Shift from conventional to bio-based fuels owing to rising concern towards toxic nature may favor the lubricants market growth. Regulatory bodies including ECHA and REACH has introduced various regulation towards recyclability, toxicity and bioaccumulation which may hinder the industry growth.
Global Lubricants Market by Application
• Industrial
o Process oils
o General industrial oils
o Metal working fluids
o Industrial engine oils
• Automotive
o Heavy-duty engine oils
o Hydraulic & transmission fluids
o Gear oil
o Grease
Industrial application accounted for over 35% of global lubricants market volume share in 2014 and should witness significant growth over forecast period. Growing demand for industrial products along with capacity expansion in various industry including machinery, mining and metal forming will propel lubricants market share over forecast timeframe.
Browse key industry insights spread across 235 pages with 130 market data tables & 15 figures & charts from the report, “Lubricants Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lubricants-market
Abundant availability of base oil and low production cost will stimulate the Middle East and Africa lubricants market size. Brazil will see considerable growth owing to rapid infrastructure development and booming automobile sector. Stringent government regulation to reduce air pollution will further influence the business landscape.
The key players include are Chevron, Shell, Sinopec, Castrol, BP, PetroChina, ExxonMobil, Nippon Oil whereas, ExxonMobil, BP, Shell and Chevron contributed over 40% of global lubricants market share in 2015. Majority industry players are tied up with upstream companies to ensure uninterrupted supply of feedstock.
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
Blog: http://technologymagazine.org
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