Lubricants Market Size to Reach US$ 190.64 Mn by 2028. It Is Expected to Hold Largest Share During The Forecast Period.

Lubricant is a friction-reducing film between moving objects and helps in reducing the heat generated. Lubricant performs functions such as transmitting forces, transporting foreign particles, and heating and cooling surfaces. Depending on the nature of lubricants, they are used to eliminate heat and wear debris, supply additives into the contact, transmit power, protect, and seal.
𝐆𝐫𝐚𝐛 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.theinsightpartners.com/sample/TIPRE00003547/?utm_source=OpenPR&utm_medium=10668

𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐒𝐞𝐜𝐭𝐨𝐫:

The growing automotive sector across the world is leading to an increased demand for lubricants. The US is one of the largest automotive markets in the world; in 2018, the light vehicle sales in the US reached 17.2 million units, which is the fourth straight year the sales have reached or surpassed 17 million units. According to the European Automobile Manufacturers' Association, or ACEA, the EU commercial vehicle output grew by 2.6%, which reached 2.8 million units in 2018. In 2019, North America's commercial vehicle production expanded by 3.6%. Thus, the growing production of commercial vehicles has been subsequently increasing the demand for lubricants in the automotive industry. Also, the high-performance cars have a high requirement for automotive lubricants as they help in managing the excessive heat generated by the powerful engines and other components in the vehicles. The lubricants help in preventing rust and corrosion, engine failure and extend the life of the engine components.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Based on product type, the lubricants market is segmented into engine oil, hydraulic oil, gear oil, grease, compressor oil, and others. Motor oil or engine oil or engine lubricant is a substance used for the lubrication of internal combustion engines. Engine oil includes base oils that are enhanced with various additives, particularly antiwear additives, detergents, and dispersants. The mineral bio-based engine oils are natural oils derived from crude petroleum. After being extracted and conveyed to a refinery, these oils undergo several refining processes to remove impurities.

𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐬:

Royal Dutch shell
Exxon Mobil Corp
Chevron Corp
BP plc
Total
Lukoil
Sinopec Lubricant Company
Fuchs
Indian Oil Corp
Valvoline

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This release was published on openPR.