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Increasing Demand For Asphalt, Lubricating Oil And Grease Market By 2031 || Major Players Are Exxon Mobil, Royal Dutch Shell, Saudi Aramco, BP plc, Glencore International
Asphalt, Lubricating Oil, and Grease Market
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The global asphalt, lubricating oil, and grease market report by the business research company identifies the demand for multi grade lubricants to be a major growth driver for the asphalt, lubricating oil, and grease market. Multi-grade lubricant is a viscosity modifier used in engines which allows the smooth flow of oil under cold and hot climatic conditions. It is used to minimize the effect of change of viscosity with respect to the changes in the surrounding temperature and maintains optimum viscosity over the engine operating temperature range. Some of the major companies producing this lubricant include Gazprom, Rosneft, Exxonmobil, Petrochina and BP.
The global asphalt, lubricating oil and grease market grew from $226.73 billion in 2021 to $284.01 billion in 2022 at a compound annual growth rate (CAGR) of 25.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The asphalt, lubricating oil and grease market is expected to grow to $494.59 billion in 2026 at a CAGR of 14.9%.
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North America was the largest region in the asphalt, lubricating oil and grease market in 2021. Asia Pacific was the second largest region in the asphalt, lubricating oil and grease market. The regions covered in the asphalt, lubricating oil and grease market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the asphalt, lubricating oil, and grease market are Exxon Mobil, Royal Dutch Shell, Saudi Aramco, BP plc, Glencore International, Guardian Industries, LLC, Owens Corning, Suncor Energy Inc, Husky Energy Inc, and CRH plc.
The global asphalt, lubricating oil, and grease market is segmented -
1) By Type: Asphalt, Other Petroleum Products
2) By Application: Roadways, Waterproofing, Recreation, Others
3) By End Use Industries: Power Generation, Transport, Metallurgy & Metalworking, Food & Beverage, Chemical, Others
Subsegments Covered: Asphalt Paving Mixtures And Blocks, Prepared Asphalt And Tar Roofing And Siding Products, Roofing Asphalts And Pitches, Coatings And Cements
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The Asphalt, Lubricating Oil, and Grease Market Report Contents Include
1. Executive Summary
2. Asphalt, Lubricating Oil, and Grease Market Characteristics
3. Asphalt, Lubricating Oil, and Grease Market Trends and Strategies
4. Asphalt, Lubricating Oil, and Grease Market - Macro Economic Scenario
5. Asphalt, Lubricating Oil, and Grease Market Size and Growth
...........
27. Asphalt, Lubricating Oil, and Grease Market Competitive Landscape and Company Profiles
28. Key Mergers and Acquisitions in The Asphalt, Lubricating Oil, and Grease Market
29. Asphalt, Lubricating Oil, and Grease Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the asphalt, lubricating oil, and grease market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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