Asean, Gcc, India, Africa Lubricants Market And Top Key Players Are PetroChina Company Ltd (China), Sinopec Corporation (China), Fuchs Petrolub SE (Germany), Phillips 66 Company (US), Lucas Oil Products, Inc

Lubricants are indispensable to the proper functioning of machinery since they reduce wear and tear between different moving parts. They also reduce the downtime of operations, thereby improving the overall productivity. Industrial lubricants exhibit superior characteristics such as corrosion protection, demulsibility, and extended equipment life.

The ASEAN, Africa, India, and GCC lubricants market was valued at USD 22,940.1 million in 2017 and is projected to reach USD 29,532.9 million by the end of the assessment period at a CAGR of 4.30%. The growth of the market can be attributed to the growing industrial sector in the emerging economies and the rising awareness regarding the environmental and performance benefits associated with synthetic oils.

Furthermore, the surging applications of lubricants in industries such as paper and mill, metal forming, foundry, mining, quarrying, energy, plastics, food & beverage, and machining are contributing to the revenue growth of the ASEAN, Africa, India, and GCC lubricants market. Moreover, the demand for lubricants is rising in the automotive industry as they offer reduced friction and prevent corrosion, which result in enhanced performance and fuel efficiency of automobiles. The growth of the automotive industry in ASEAN region and India can be attributed to the high disposable incomes and changing lifestyles. However, the rising environmental concerns and regulations over contamination and environmental pollution associated with synthetic lubricants as well as the increasing adoption of electric vehicles are factors expected to restrain market growth during the forecast period.

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ASEAN, Africa, India, and GCC Lubricants Market Share, by End-Use Industry, 2017, (%)

Source: MRFR Report
Geographic Analysis

The market has been segmented, by geography, into ASEAN, GCC, Africa, and India. Among these, the Indian market accounted for over 36% of the market share and was valued at USD 8,145.9 million in 2017. It is projected to register the highest CAGR of 4.95% during the forecast period. The increasing production and sale of automobiles in India are expected to drive the growth of the market. Moreover, rapid industrialization and urbanization has resulted in increased residential and commercial construction, which is expected to boost the demand for lubricants. The market in the ASEAN region was the second-largest with a market share of 27%, and was valued at USD 6,083.4 million in 2017; it is projected to register a healthy CAGR of 4.50%.

Segmentation
Based on base oil, the market has been segmented into mineral oil, synthetic oil, and bio-based oil. On the basis of application, the market has been divided into automotive and industrial. The automotive segment has been further categorized as engine oil, gear oil, transmission fluids, break oil, coolants, and greases, whereas the industrial segment has been classified as process oil, general industrial oil, metal working fluid, compressor oil, hydraulic oil, turbine oil, and others. By end-use industry, the market has been segmented into metal production, textiles, energy, chemical manufacturing, food processing, construction and mining, cement production, and general industrial manufacturing. Geographically, the market has been segmented into ASEAN, GCC, Africa, and India.

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Key Players

Some of the key players operating in the ASEAN, Africa, India, and GCC lubricants market are PetroChina Company Ltd (China), Sinopec Corporation (China), Fuchs Petrolub SE (Germany), Phillips 66 Company (US), Lucas Oil Products, Inc. (US), Amsoil Inc. (US), Valvoline, Inc. (US), Clariant (Switzerland), Quaker Chemical Corporation (US), Calumet Specialty Products Partners, L.P (US), Chevron Corporation (Saudi Arabia), BP PLC (UK), Exxon Mobil Corporation (US), Royal Dutch Shell PLC (Netherlands), Total (France), Lukoil (Russia), Petronas (Malaysia), Yushiro Chemical Industry (Japan), Morris Lubricants (UK), Rock Valley Oil and Chemical Co. (US), Indian Oil Corporation Limited (India), and Gulf Oil India (India).

Geographic Analysis
The geographies covered in the report are:

• ASEAN
o Malaysia
o Thailand
o Singapore
o Indonesia
o Vietnam
o Rest of ASEAN

• Africa
o Rest of North Africa
o South Africa
o Nigeria
o Tanzania
o Kenya
o Egypt
o Ghana
o Rest of Africa

• India

• GCC
o Saudi Arabia
o UAE
o Qatar
o Oman
o Kuwait
o Bahrain

Key Findings
Market Research Future concludes that the ASEAN, Africa, India, and GCC lubricants market is projected to reach USD 29,532.9 million at a CAGR of 4.30% during the review period. The mineral oil segment accounted for the largest market share of 86.62% in 2017, as this type of oil offers various advantages such as better solubility with additives, enhanced compatibility with seals, and low cost. The automotive application segment accounted for the larger market share of 57.52% in 2017, with a market value of USD 12,932.5 million and is projected to register the higher CAGR of 4.35%. The energy end-use industry segment accounted for the largest market share of 24.08% in 2017, with a market value of USD 5,414.8 million and is projected to exhibit a CAGR of 4.64% during the forecast period.

Intended Audience
• Lubricants manufacturers
• Lubricants distributors
• Appliances manufacturers
• Automotive manufacturers
• Potential investors
• Lubricants suppliers
• Nationalized laboratories
DC –Description
• Agricultural oil supply
• Engine oil supply
• Industrial oil supply
• Hydraulic oil supply
• Engine oil
• Gear oil
• Hydraulic oil
• Grease
• Cleaner
• Lubricant dispensing products

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