Automotive Lubricants Market 2021 Competitive Insights – Royal Dutch Shell, Chevron Corporation, BP p.l.c., Exxon Mobil Corporation, and Total

The Global Automotive Lubricants Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

The automotive lubricants market is expected to register a CAGR of around 2% during the forecast period. 

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Key Market Players:

Royal Dutch Shell, Chevron Corporation, BP p.l.c., Exxon Mobil Corporation, and Total and Other

Key Market Trends

Increasing Usage of Engine Oils

- Engine oils are widely used to lubricate internal combustion engines and are generally composed of 75-90% base oils and 10-25% additives.
- They are typically used for applications, such as wear reduction, corrosion protection, and smooth operation of engine internals. They function by creating a thin film between the moving parts for enhancing the transfer of heat and reducing tension during the contact of parts.
- High-mileage engine oils are in demand lately, owing to the properties that help in the prevention of oil leaks and the reduction of oil consumption.
- Most of the light and heavy vehicle diesel and gasoline engines use 10W40 and 15W40 viscosity-grade oils, whereas, multi-grade oils, like 15W50 and 20W50, are used for aircraft engines
- The average age of vehicles has been increasing at a constant rate over the years. This factor provides an opportunity, in terms of the refill market. The increasing average age of passenger cars and the growing urban population in the developing countries are the factors expected to drive the market for engine oils
- Owing to the increased engine oil change intervals, technological advancements are imposing a threat to the growth of the engine oil segment, in terms of volume consumption. This trend is expected to continue to increase the usage of the market studied during the forecast period.

Asia-Pacific is Expected to Dominate the Market

- The Asia-Pacific region dominated the global market share. In the region, China is the largest lubricant market and is expected to remain so in the coming years, irrespective of the economy witnessing slow economic growth.
- The government is focusing on replacing obsolete vehicles, in turn, increasing the demand for improved and high performance lubricants. Whereas, India is the second-largest lubricant market in the region and the third-largest in the world.
- Indonesia is one of the major consumers of lubricants in the ASEAN region. Japan is the fifth-largest consumer of lubricants in the world.
- The Japanese automotive industry has been witnessing slow growth from the past two years, primarily due to the drastic drop in the sale and production of motor vehicles.
- The global market for automotive lubricants is expected to be dominated by the Asia-Pacific region during the forecast period.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Automotive Lubricants market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Automotive Lubricants market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Automotive Lubricants market.

Market Segments: This part of the report discusses product type and application segments of the global Automotive Lubricants market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Automotive Lubricants used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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