Lubricants Market Insights | Key Players : Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), Petrochina Company Limited (China), Sinopec Limited (China), Total S.A. (France), Lukoil (Russia), BP Plc. (U.K.), Chevron Corporation (U.S.),

Expansion is the most popular strategy adopted by the key players of the global lubricants market

The global lubricants market is estimated to be USD 144.45 billion in 2015 and is projected to reach USD 166.59 billion by 2021, registering a CAGR of 2.4% between 2016 and 2021. Key strategies such as expansions, contracts & agreements, new product launches, and acquisitions are adopted by the major players to strengthen their foothold in the global lubricants market. The maximum number of strategic developments undertaken between 2012 and 2016 took place in Asia-Pacific, followed by Europe and North America.

Download PDF Sample Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=182046896

Major players operating in the global lubricants market are Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), Petrochina Company Limited (China), Sinopec Limited (China), Total S.A. (France), Lukoil (Russia), BP Plc. (U.K.), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), Idemitsu Kosan Co., Ltd. (Japan), and others.

Exxon Mobil Corporation (U.S.) is one of the leading lubricants manufacturers, globally. The company accounted for the largest share of the global lubricants market in 2015. Whereas, Royal Dutch Shell Plc (Netherlands) was the most active player in the lubricants market, with the highest number of developments between 2012 and 2016. The company has made maximum developments in Asia-Pacific. Royal Dutch Shell Plc. adopted capacity as well as regional expansions in Asia-Pacific to meet the increasing demand from the region. The company in November 2015 opened a new lubricant blending plant at Marunda Centre, North of Jakarta, Indonesia. This facility is expected to produce 120,000 tons (136 million liters) of finished lubricants per annum.

BP Plc (U.K.) is another major player in the global lubricants market. The company has been focusing on new contracts & agreements. In May 2015, BP Plc (U.K.) signed a lubricant distribution agreement with KenolKobil (Kenya). Under the terms of this agreement, KenolKobil would distribute the Castrol-Branded Lubricants. This would help the company to strengthen its distribution network in Africa.

This report includes a detailed analysis of the lubricants market and segments the same on the basis of type, application, and region. Based on type, the market has been segmented into mineral oil lubricants, bio-based lubricants, and greases. Based on application, the market has been segmented into transportation and industrial machinery & equipment. The transportation application segment is further divided into commercial vehicle, passenger vehicle, aviation, and marine. Based on region, the market has been segmented as Asia-Pacific, Europe, North America, the Middle East & Africa, and South America.

Read More Context at https://www.marketsandmarkets.com/Market-Reports/lubricants-market-182046896.html

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

630 Dundee Road
Suite 430
Northbrook, IL 60062

This release was published on openPR.