Agricultural Lubricants Market Insights: Shell, ExxonMobil, Chevron, Fuchs Petrolub, Total, BP and Phillips 66 are Major Leaders

The agricultural lubricants market is estimated at USD 1.96 Billion in 2017 and is projected to reach USD 2.48 Billion by 2022, at a CAGR of 4.8% from 2017 to 2022. Government subsidy on farm equipment, decrease in agricultural labor force, and rising mechanization of farms are factors driving this market.

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Shell (The Netherlands), ExxonMobil (US), Chevron (US), Fuchs Petrolub (Germany), Total (France), BP p.l.c. (UK), and Phillips 66 (US) are recognized as visionary leaders in the agricultural lubricants market. These companies are focused on investing in plant capacity expansions. They also have the potential to broaden their product portfolios and compete with other key market players.

ExxonMobil Corporation is a holding company and one of the world's largest companies in the oil & gas sector by revenue and market capitalization. ExxonMobil markets its products around the world under the brands, Exxon, Mobil, and Esso. The company operates in three main business segments, namely, upstream, downstream, and chemical.

In June 2017, ExxonMobil established a new manufacturing plant for synthetic lubricants and grease in Jurong. With this expansion, the plant in Singapore will become ExxonMobil’s largest grease manufacturing plant in the Asia Pacific to meet the growing demand for grease and synthetic lubricant products. In May 2017, ExxonMobil launched the first Mobil fuel & service stations in Mexico and invested USD 300 Million in fuel logistics, product inventories, and marketing, which is expected to provide reliable supplies to the retail, wholesale, industrial, and commercial sectors for the next 10 years in the country. In September 2012, ExxonMobil invested more than USD 200 Million in the high performance synthetic lubricants capacity located in Louisiana.

Shell is a vertically integrated company and is active in upstream, integrated gas, and downstream businesses in the oil & gas industry. The company offers agricultural lubricants as part of its downstream business segment. It is engaged in most of the primary aspects of the oil & gas industry worldwide and is also involved in chemicals and other energy-related businesses.

In November 2017, Shell opened a grease and integrated lubricants production facility in Tuas, Singapore. This facility is the 2nd largest in the Asia Pacific and 3rd largest in the world. This expansion was carried out to support the company’s business ambitions in the Asia Pacific region. In November 2015, Shell established a lubricant blending plant in Indonesia, which is expected to manufacture various leading brands of Shell, such as Shell Advance (motorcycle oil), Shell Helix (passenger car motor oil), Shell Spirax (transmission oil), Shell Rimula (heavy duty engine oil), and other lubricants. In January 2013, Shell opened its largest worldwide grease plant in China, which has a production capacity of 30 kiloton greases per year. This expansion was made to meet the growing demand for greases in China.

The objectives of this study are:

• To estimate and forecast the agricultural lubricants market, in terms of value and volume
• To provide a detailed segmentation of the agricultural lubricants market on the basis of type, application, and region
• To identify emerging trends and opportunities in the agricultural lubricants market
• To analyze the market with focus on high growth applications and fastest-growing segments
• To analyze the factors that drive and restrain the growth of the agricultural lubricants market
• To provide a comprehensive competitive landscape of the market and profile the key market players with respect to their market shares/ranking
• To analyze and forecast segments of the agricultural lubricants market and present an overall view of the market

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Governments of various countries grant support to farmers by providing subsidized agricultural equipment. Regional governments are encouraging farmers to adopt modern farming practices by providing guidance and monetary support at different levels to increase food production. This is a major driver of the agricultural lubricants market. Also, increasing mechanization in the agricultural industry is leading to the high demand for agricultural lubricants.

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