Automotive Lubricant Market Top Key Players – Castrol, Royal Dutch Shell PLC, Total, PetroChina Company Ltd, Chevron Corporation, ExxonMobil, Petronas, Repsol, HP Lubricants, Valvoline, Gulf Oil

The global automotive lubricant market is estimated at $XX Billion in 2021, growing at XX% CAGR till 2026. There is a lot of investment in the R & D department to regularly improve the quality of oils and develop better quality synthetic and semi-synthetic oils, which is to drive the lubricating oil market in the future.

Automotive lubricants are important for reducing friction between moving parts and the heat generated through friction. Therefore, it increases the life expectancy of the engine.

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Lubricants also help improve vehicle fuel economy by absorbing the heat generated and lowering the temperature. These factors have increased the demand for automotive lubricants. This has led the automotive lubricant market to produce lubricants at a catastrophic rate.

MARKET DYNAMICS

• Depending on the type of lubricant used, engine oil clearly has the largest share of the market. It is the largest automotive lubricant market in Asian automotive lubricants. The number of two-wheeled vehicles in the population is the largest, and this is the main factor.

• Passenger cars will lead the sale of lubricating oils, depending on the type of vehicle used. Therefore, various factors are high performance, fuel efficiency, the need to reduce engine emissions, high resale value and extended engine life. The share of commercial vehicles in the global automotive lubricant market has exceeded that of motorcycles. The chart below shows the share of various vehicles in the lubricant market.

MARKET SEGMENTATION

By Geography
• China
• US
• Europe
• India
• ASEAN
• ROW


By End Use
• Aftermarket
• OEM

By Base Oil
• Synthetic
• Semi-Synthetic
• Bio-Based
• Mineral Oil


By Rating
• Single Grade
• Multi Grade


By Vehicle Type
• Passenger Cars
• Commercial Vehicles
• 2-Wheeled Vehicles

COVID-19 IMPACT ON AUTOMOTIVE LUBRICANTS MARKET

• The domestic industrial sector has been adversely affected in 2020 through COVID-19. During the pandemic, the government ordered a complete lockdown, and factories that had stopped producing cars were temporarily closed. Overall vehicle sales in 2020 declined significantly, at around 24% year-over-year. This showed signs of recovery in the second half, mainly due to the difficult business environment and limited activities in the first half of 2020.

• This reduces the demand for lubricants in 2020. Global passenger car sales fell 16% from 53.6 million units to 63.7 million units in 2019.

NEW LAUNCHES

• Shell has announced a new portfolio of Shell Naturelle biodegradable lubricants designed to help reduce environmental impact without compromising equipment performance.

• To ensure the best performance and protection for the Gibli Hybrid engine, Shell and Maserati have expanded their long-standing technical and commercial cooperation with the launch of the new Shell Helix Ultra Hybrid 0W30 oil for the Maserati hybrid engine. This new product can be purchased in Europe and Asia through official Maserati retailers.

• Lanxess, a German specialty chemical company, has launched an organic lubricant additive for passenger cars and high performance engine oils.

• Valvoline has announced a series of high performance liquids for EVs to not only extend battery life but also improve overall performance.

COMPETITIVE LANDSCAPE

• The major players in the global automotive lubricants market are Royal Dutch Shell from the Netherlands, Chevron Corporation and ExxonMobil from the United States, and Total S.A. from France. UK Castrol PetroChina Company of China, Petronas of Malaysia. Companies in the Indian market include HP Lubricants, Balvorin, and Gulf Oil.

• Castrol India reported good performance in the first half of 2020. Following a recovery in demand, sales increased 54% to Rs 1,818 crores and operating profit increased 122% from Rs 501 crores in the first half of 2020.

COMPANY PROFILE
• Castrol
• Royal Dutch Shell PLC
• Total
• PetroChina Company Ltd
• Chevron Corporation
• ExxonMobil
• Petronas
• Repsol
• HP Lubricants
• Valvoline
• Gulf Oil
• Quicksilver
• Motul
• JXTG Nippon Oil & Energy

Read More Information: https://mobilityforesights.com/product/automotive-lubricant-market/

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This release was published on openPR.