Press release
North America And Europe Is Expected To Witness Stagnant Growth In The Automotive Lubricants Market By 2028
The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The Automotive Lubricants industry suffered a huge setback due to halted production and a limited supply of raw materials.
With the vaccination process picking up pace in countries like China, India, the U.S., the U.K., and Germany, manufacturers are gradually heading towards the road to recovery with an improved supply chain and streamlined production activities.
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Key Segments Covered in the Automotive Lubricants Industry Survey
Automotive Lubricants Market by Lubricants :
Engine Oil
Gear Oil
Brake Oil
Grease
Other Automotive Fluid Lubricants
Automotive Lubricants Market by Base Oil :
Fully Synthetic Automotive Lubricant Oils
Semi-Synthetic Automotive Lubricant Oils
Mineral Oil Automotive Lubricants
Automotive Lubricants Market by Vehicle :
LCVs
HCVs
Midsize Vehicles
Compact Vehicles
Premium Class Vehicles
Luxury Vehicles
Other Vehicle Types
Automotive Lubricants by Region :
North America Automotive Lubricants Market
Latin America Automotive Lubricants Market
Europe Automotive Lubricants Market
Japan Automotive Lubricants Market
APEJ Automotive Lubricants Market
Middle East & Africa Automotive Lubricants Market
Infrastructure Expansion in the U.S. is Fueling Demand for Automotive Lubricants
The Automotive Lubricants chemical industry in the U.S. suffered a huge setback due to the coronavirus outbreak in 2022, halting operations in industries such as construction, automotive, and pharmaceutical.
However, with the gradual resumption of production activities and improvements in the supply chain globally, manufacturers operating in the Automotive Lubricants chemical industry are gearing up to retain the industry's post-pandemic status.
Rising demand for Automotive Lubricants dispersants from the construction and oil & gas industry is driving the Automotive Lubricants chemical industry in the U.S. Automotive Lubricants dispersants are widely used in the construction industry, and the anticipated growth is attributable to the wide expanse of real estate in the country.
Increasing housing infrastructure projects are propelling Automotive Lubricants dispersant sales, thus augmenting the growth of the Automotive Lubricants chemical industry. The presence of leading players in the country is also driving sales and export in the Automotive Lubricants chemical industry.
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Competitive Landscape
Prominent Automotive Lubricants providers are reliant on partnerships, collaborations, acquisitions, and new software launch to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.
In May 2022, Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij - subsidiaries of Shell Plc., have signed an agreement to sell Shell Neft LLC, which owns Shell's retail and lubricants businesses in Russia, to PJSC LUKOIL.
In May 2019, ExxonMobil agreed to purchase Indonesian lubricant blender PT Federal Karyatama, the companies announced this week, as part of a plan to expand in the Asia-Pacific region. The $435 Billion acquisition includes the Federal Oil brand of lubricants and a new blending plant in Cilegon, Indonesia.
U.K is Capitalizing on Automotive Lubricants Binders for Sustainable Construction Activities
The U.K. has been at the forefront in terms of technological advancements and the adoption of sustainable technology in production globally, which is a key factor augmenting the growth of the Automotive Lubricants chemical industry.
In 2022, the country suffered huge setbacks due to the adverse effects caused by the COVID-19 pandemic. However, manufacturers operating in the Automotive Lubricants chemical industry are striving to achieve the pre-pandemic status by opting for various Automotive Lubricants and inHigh Purity Quartz Sand growth strategies.
In the U.K, the growth of the Automotive Lubricants industry can be attributed to the surging demand for Automotive Lubricants binders. The environment-friendly nature, low energy consumption, and cost-effectiveness offered by Automotive Lubricants binders are key factors leading the sales and demand.
Growing urbanization and rapid increments in infrastructure activities across the country are fueling the demand for Automotive Lubricants binders, thus creating lucrative opportunities for several players operating in the Automotive Lubricants chemical industry in the upcoming decade.
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China is Incorporating Automotive Lubricants Pigments in Textiles and Visual Arts
The global hub for the Automotive Lubricants chemical industry, China, is picking up pace in its post-covid recovery, due to the timely eradication of the virus. With little to no restrictions, most production-related activities have resumed across the country, acting as anchors for various local and global manufacturers.
China is a lucrative ground for the Automotive Lubricants industry due to the presence of leading manufacturers and several industries such as textile, pharmaceutical, plastic, and paint. Due to the abundance of these industries, the demand for Automotive Lubricants pigments is also gaining immense traction in China.
Automotive Lubricants pigments are non-toxic, cost-effective, and offer good color strength, making them a favorable choice for usage in various end-use sectors. Increasing the use of Automotive Lubricants pigments in plastics, textiles, paints, and coatings will continue driving the growth in the Automotive Lubricants industry.
Additionally, the wide range of unique shades available in Automotive Lubricants pigments makes them a preferred choice for visual arts as well. The consumption of Automotive Lubricants pigments in high-tech applications such as photo-reprographics, optoelectronic displays, and optical data storage are fueling the demand for Automotive Lubricants pigments and creating lucrative opportunities for players operating in the Automotive Lubricants industry.
India Will Showcase High Demand for Speciality Automotive Lubricants
India is emerging as a lucrative market for the Automotive Lubricants chemical industries for players across the world. With gradual resumptions in the restrictions on movement, the country is slowly getting back on track to achieve post-pandemic status in the coming years.
The Automotive Lubricants industry in India is capitalizing on various sectors such as paints, pharmaceuticals, adhesives, pesticides, and dyes, making it one of the most important industries in the country.
Leading players operating in the Automotive Lubricants industry are focusing on enhancing their product portfolio by adding specialty chemicals such as polymer additives, water treatment chemicals, and lubricating additives, which will further drive growth and sales in the industry in the upcoming decade.
The newly discovered natural gas reserves in the country will also enable manufacturers to procure diverse Automotive Lubricants and will continue augmenting the growth of the Automotive Lubricants chemical industry.
Key Long-Term Trends
The global Automotive Lubricants industry is gradually recovering in 2021 and is expected to gain momentum in the upcoming years. With a noteworthy surge in activities in industries such as infrastructure, construction, pharmaceutical, and oil & gas, the Automotive Lubricants industry will show an upward trend in the coming years. Some new trends that are augmenting the market growth are:
Chemoinformatic
The Automotive Lubricants industry will largely benefit from chemoinformatic due to various factors such as the ease of evaluating specific properties of large compounds. The use of computational and informational techniques will help manufacturers gain insights into the new and existing chemicals and how to incorporate them into Automotive Lubricants chemical products.
For More Insights-https://www.globenewswire.com/news-release/2022/03/09/2400432/0/en/Low-Code-Development-Industry-is-Projected-to-Achieve-a-Global-Market-Size-of-US-187-Bn-by-2032-Currently-US-Accounts-For-the-Largest-Market-Share-in-the-World.html
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