Lubricants Market 2023 - Royal Dutch Shell Plc, Exxonmobil Corp, BP Plc, Chevron Corp, Total and Petrochina Company Ltd

Albany, NY, 24th June : Recent research and the current scenario as well as future market potential of "Lubricants: Global Markets to 2023".

Rapid advances in production technologies have paved the way to new chemistries in the Lubricants market. Growing diversity of demand for various product types in end-use applications is propelling new opportunities. Competitive dynamics of the Lubricants market are increasingly shaped by emerging regulatory frameworks in developing and developed markets. New applications in the market will spur production volumes. Key chemical producers are expected to strengthen their production capacities to meet the rising demand across various geographies. To this end, numerous players in the Lubricants market are also expected to enter into collaborations and partnership deals. End-use industries have benefitted from advances made in materials science in recent years. Manufacturers are expected to focus on pricing strategies to keep the demand lucrative in the coming years.

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A lubricant is a product mainly derived from crude oil that reduces friction, heat, and wear between mechanical components, thus prolonging the life of the components. The primary function of lubricants is to reduce contact among tools or finished components. Lubricants protect sludge and residual deposits from forming on mechanical parts. Lubricants also are used to transfer heat, transmit power, and prevent rust and corrosion. Lubricants are manufactured from base oils. The desired lubricant properties are imparted by blending base oils with additives such as viscosity index improvers, dispersants and detergents. Additives are petrochemicals refined and formulated to improve the functioning and life span of lubricants. Lubricants prevent corrosion, have excellent remissibility and extend the life of equipment. Used in a variety of equipment to improve performance, lubricants enable machineries to increase productivity through improved efficiency. Lubricants are used in applications such as automotive, industrial machinery, mining, hydraulic and many others. The type of lubricant used in an application depends on factors such as operating temperature, exposure to harsh chemicals, and so on.

Report Scope:

The scope of the report covers the global market scenario for lubricants and analyses of global market trends. The report considers 2017 as the base year and provides estimates from 2018 to 2023 with projections of CAGR in the forecast duration. Market data is provided in terms of volume (kilotons) and value ($ millions) at global and regional levels by product and type. Estimated values are based on manufacturers total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

The report analyzes the global lubricants market across different geographies and in key countries. The report reviews industrial developments and regulatory frameworks to understand how macro-economic factors affect the global demand for lubricants. The report also identifies stakeholders involved in the value chain and assesses them using Porters five forces analysis. Market dynamics such as drivers, restraints, opportunities and challenges also are discussed.

To provide the holistic view, the report segments global lubricants market by type and product. In terms of type, the market covers mineral oil, synthetic oil and bio-based lubricants to understand current market trends and the shift of lubricant manufacturers from mineral-oil based lubricants to synthetic lubricants. The report examines lubricants by products such as automotive lubricants, industrial lubricants, metalworking fluids, process oil, marine lubricants and grease.

The report discusses factors such as increasing new vehicle sales, established vehicle fleet and increasing motorization rate, particularly in emerging economies, and how these are driving demand for lubricants in the automotive sector. The analysis details prominent players by company description, business overview, product portfolio, financial outlook, strategic overview and recent developments.

The report aims to guide tier-one suppliers, base-oil providers, lubricant additive manufacturers, and existing established suppliers in developing their business strategies.

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Report Includes:

- 110 data tables and 23 additional tables
- An overview of the global market for oil and water-based lubricants and their applications
- Analyses of market trends, with data from 2017 to 2018, and projections of CAGRs through 2023
- Country specific data and analysis for US, Germany, Russia, Turkey, China, France, India, Japan, Russia, Brazil, Mexico, UK, Saudi Arabia, Iran, Egypt and Australia
- Coverage of historical overview, key industrial development, and regulatory framework
- Description of properties and manufacturing processes of lubricants
- Detailed discussion regarding impact of electric vehicles on lubricant demand
- Company profiles of the major players of the industry, including Royal Dutch Shell Plc, Exxonmobil Corp., BP Plc, Chevron Corp., Total and Petrochina Company Ltd.

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This release was published on openPR.