COVID-19 Impact on Lubricants Market 2020-2021: Royal Dutch Shell, ExxonMobil, BP PLC, Chevron Corporation, Total S.A, PetroChina Company Limited, Idemitsu Kosan Co. Ltd, Sinopec Limited, Fuchs Petrolub AG, Valvoline, LUKOIL and Others.

According to Market Study Report, Lubricants Market provides a comprehensive analysis of the Lubricants Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape and emerging opportunities of global industry. This report also provides market landscape and market share information in the Lubricants Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Lubricants Market is expected to witness a downfall in 2020 with a negative growth of 0.95% and market is expected to rebound and witness recovery in 2021. The decline in the market is primarily due to the spread of COVID-19 across the globe, impacting the functioning of key end-use industries using lubricants. This report spread across 119 pages, profiling 14 companies and supported with 91 tables and 13 figures are now available in this research.

Top Key Players Profiled in the Lubricants Market:
o Royal Dutch Shell (Netherlands)
o ExxonMobil (US)
o BP PLC (UK)
o Chevron Corporation (US)
o Total S.A. (France)
o PetroChina Company Limited (China)
o Idemitsu Kosan Co. Ltd. (Japan)
o Sinopec Limited (China)
o Fuchs Petrolub AG (Germany)
o Valvoline (US)
o LUKOIL (Russia)
o Petronas (Malaysia)
o Gazprom Neft (Russia)
o Pertamina (Indonesia)

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"Engine oil to be the most affected product type segment in the global lubricants market."
Engine oil is the largest and most affected product type segment in the lubricants market. It is expected to witness a negative impact due to lockdown, as demand from the passenger vehicle segment is at an all-time low. The demand is relatively low in the commercial segment as well. OEMs have also halted production, which has further decreased the demand for engine oil. Due to nationwide lockdown, Germany, the US, China, India, and France have witnessed a downfall in traffic and very little to no automotive movement.

"Transportation is the largest and most affected end-use industry segment in the global lubricants market."
Currently, all heavy transport is suspended at least for a month. However, due to a few of the necessary goods still being produced and transported, such as food products, metal and mining, and healthcare products, commercial fleets are operating at very low output. This will have a huge impact on the commercial vehicle segment. In 2020, the market is expected to fall, as per industry experts. After the lockdown is over, the market will grow as the industry will have to finish supply laggards and pending orders.

"North America and APAC are expected to be the most affected region for lubricants market due to COVID-19"
The APAC and North American lubricants markets are adversely affected by COVID-19 and expected to witness a decline in the market in 2020. The market is also expected to witness recovery in 2021. Although Europe is one of the major hotspots for COVID-19, it is expected to witness lesser impacts than North America and APAC because of their large number of manufacturing industries and vehicles on road.

Breakdown of primary participants' profile:
o By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
o By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
o By Region: North America - 32%, Europe - 21%, APAC - 28%, South America - 12%, Middle East & Africa - 7%,

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Research Coverage:
This report segments the lubricants market based on product type, end-use industry, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies associated with the market for lubricants. Furthermore, impacts on end-use industries and necessary measures taken by respective end-use industries are also elaborated separately in the report.

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