Manufacturing Industry Growth, Construction Growth, and Automotive Growth has driven the market for lubricants in Mexico: Ken Research

Focus on rapid industrialization, trade agreements and foreign investment are major factor contributing towards development of lubricant market in Mexico.

Growing demand of lubricants in automotive sector: In automotive applications, lubricants are widely used in things like transmission and heavy-duty diesel engine oils for passenger cars. In certain auto processes, such as the movement of chains and pistons, lubricants are also used. The increase and rise in demand for autos around the world is predicted to be the main factor driving the need for lubricants. The strong heat resistance and high effectiveness of lubricants in high-temperature situations are projected to support the market's expected growth rate.

Greater use of lubricants due to their good properties: Due to the lubricant's distinct quality, which is mostly dependent on a number of characteristics including hydraulic stability, a high viscosity index, strong resistance to oxidation, a high boiling point, and thermal stability, demand for them is on the rise. These features help to reduce friction in many applications, which is also to blame for the increased need for lubricant on a global scale. The market growth rate has been predicted by the growing usage of lubricants due to their superior features.

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Rising demand for hybrid vehicle or battery-operated vehicle: The need for IC engines in the automotive industry is steadily declining due to the rising popularity of battery-operated and hybrid vehicles, which has a significant impact on lubricant demand over the projection period. The expansion of the lubricants market in the projected period of 2023-2030 is being severely restrained by the high vehicle emission rules and measures to outlaw the use of diesel engines in some countries.

Increasing Industrialization: The expansion of industry is driving the growth of the lubricant market in Mexico, as lubricants are used in a wide range of applications in the petrochemical sector, such as in refining and production operations, and in equipment used in the transportation and storage of petrochemical products. Many companies have announced major investments to expand their business.

Analysts at Ken Research in their latest publication "Mexico Lubricants Market Outlook to 2027F- Segmented by Origin (Mineral, Synthetic & Semi-Synthetic), By Lubricant Type (Automotive & Industrial), By Automotive Lubricants (By Product Type, By End-Users & By Distribution Channels) and By Industrial Lubricants (By Product Type, By End-Users & By Distribution Channels)" by Ken Research observed the potential of Lubricant Market in Mexico at a rebounding stage from the economic crisis after pandemic. The rising government policies and rapid industrialization, trade agreements and foreign investment along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a ~% CAGR during 2022-2027F owing to the rise in economy of the country and new government policies.

Key Segments Covered in the report:-

Mexico Lubricant Market

Mexico Lubricants Market Segmentations

By Type of Lubricant:

Industrial Lubricant

Automotive Lubricant

By Grade of Lubricant

Mineral

Semi-Syntenic

Synthetic

Mexico Industrial Lubricants Market Segmentations

By Type of Industrial Lubricant

Hydraulic Fluid

Grease

Gear Oil

Metalworking Fluid

Others (Turbine Oil, Compressor Oil, etc.)

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By End Use of Industrial Lubricant

Construction and Mining

General Manufacturing

Metal Production

Power Generation

Food Processing

Others (Agriculture, Medical, etc.)

By Distribution Channel

Dealer Network

Direct Sales Premium

Unorganized Sector

Mexico Automotive Lubricants Market Segmentations

By Type of Automotive Lubricants

Heavy-Duty Diesel Engine Oil

Passenger Vehicle Motor Oil

Transmission Fluids

Hydraulic Oil

Greases

Gear Oils

By End Use of Automotive Lubricant

Commercial Vehicles

Passenger Cars

Motor Cycles

Marine

Others (Aviation, Railways, etc.)

By Distribution Channel

Dealer Network

OEM Workshops/Service stations/Local Workshops

Supermarkets/ Hypermarkets

Online

Key Target Audience:-

Lubricants Manufacturers

Lubricants Distributors Refining Companies

Construction and Mining Industry

General Manufacturing Industry

Metal Production Industry Base-oil Companies

Additive Companies

Metal Production Industry

Power Generation Industry

Food Processing Industry

Agriculture Industry

Medical Industry

Automotive OEMs

Automotive Dealerships

Government Agencies

Consulting and Advisory Firms

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Time Period Captured in the Report:-

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022-2027F

Companies Covered:-

Bardahl

BP PLC (Castrol)

Chevron Corporation

ExxonMobil Corporation

Mexicana de Lubricantes S.A. de C.V.

Raloy

Roshfrans

Royal Dutch Shell Plc

Total Energies

Valvoline Inc.

Gulf

Shell

Key Topics Covered in the Report

Mexico Industrial and Automotive Overview

Ecosystem, Business Cycle and Genesis Mexico Lubricants Market

Market Sizing Analysis and Segmentation of Mexico Lubricants Market, 2017-2022

Mexico Industrial Lubricants Market Segmentation, 2022

Mexico Automotive Lubricants Market Segmentation, 2022

Industry Analysis Mexico Lubricants Market

End User Analysis of Mexico Lubricants Market

Competitive Framework of Mexico Industrial and Automotive Lubricant Market

Future Market Size and Future Segmentation of Mexico Industrial and Automotive Lubricant Market, 2022-2027F

Market Opportunity and Analyst Recommendations

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/mexico-lubricants-market-outlook-to-2027/596269-100.html

Related Reports:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/oman-lubricants-market-outlook-to-2027/596265-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/australia-lubricants-market-outlook-to-2027/596268-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/kenya-lubricants-market-outlook-to-2027/596273-100.html

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.