At a CAGR of 6.99%, Aviation Lubricants Market is Anticipated to Reach a Value of US$ 2.86 Billion by 2027

According to the latest report by IMARC Group, titled "Aviation Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global aviation lubricants market reached a value of US$ 1.95 Billion in 2021. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.86 Billion by 2027, growing at a CAGR of 6.99% during 2022-2027. 

Aviation lubricants are applied to the moving parts of an engine, such as piston rings, rocker arms, cylinder walls, bearings, gears, camshaft, push rods, and sockets, under various operational temperatures. They provide additional functionalities for cleanliness, engine cooling, and corrosion inhibition. Aviation lubricants also eliminate friction between metal parts, reduce wear and tear, and improve the energy efficiency of an aircraft. In addition, the lubricants protect other engine parts, such as O-rings, gaskets, elastomeric seals, and other seals, and help prevent deposit formation from corrosion. They generally contain viscosity index improvers, metal deactivators, antioxidants, anti-corrosion and -foaming additives, and boundary lubrication additives.

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Market Trends: 

The increasing air passenger traffic due to inflating consumer per capita income and the rapidly expanding aviation industry are some of the key factors primarily boosting the market growth. In continuation, the growing cross-border tensions have compelled governments of various nations to invest heavily in their defense, which, in turn, is creating a positive outlook for the market. Moreover, the rising environmental awareness and surging need to improve the fuel economy are accelerating the market growth. Besides this, the burgeoning demand for environmentally safe lubricants and the increasing requirement for synthetic lubricants due to their optimal thermal stability and better performance in extreme weather conditions are positively supporting the global market growth. 

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Competitive Landscape:

Aerospace Lubricants Inc.
Eastman Chemical Company
Exxon Mobil Corporation
Whitmore Manufacturing LLC
Lanxess AG
Lukoil
Nyco
Nye Lubricants Inc
(Fuchs Petrolub SE)
Rocol (Illinois Tool Works Inc.)
Royal Dutch Shell plc
Tecsia Lubricants Pte Ltd
The Chemours Company.

Key Market Segmentation:

Based On Type:

Hydraulic Fluid
Engine Oil
Grease
Special Lubricants and Additives 

Based On Technology:

Mineral-based
Synthetic

Based On Platform:

Commercial Aviation
Military Aviation
Business and General Aviation 

Based On End User:

OEM
Aftermarket

Based On Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://bit.ly/3Ev4yWD

Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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