Press release
Automotive Lubricant Market Estimated to Witness Exponential CAGR Growth of 5.40% by 2029
Global Automotive Lubricant Market was valued at USD 76.31 billion in 2021 and is expected to reach USD 116.23 billion by 2029, registering a CAGR of 5.40% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.The world class Automotive Lubricant Market research report is structured with the thorough market analysis carried out by a team of industry experts, dynamic analysts, skilful forecasters, and well-informed researchers. This global market report offers an analytical assessment of the prime challenges faced by the market currently and in the coming years, which gives idea to other market participants about the problems they may face while operating in this market over a longer period of time. In the large scale Automotive Lubricant market report, industry trends are put together on macro level with which clients can figure out market landscape and possible future issues.
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Market Definition
Lubricant is a fluidic material that is used to prevent wear and tear by reducing friction between contact surfaces. Depending on the end-uses, it is made using appropriate additives and base oils from specific groups. Automotive lubricants are used to reduce friction between two surfaces of car components, and they represent futuristic technologies capable of producing durable surfaces, maximizing overall efficiency while adhering to environmental regulations. These lubricants also aid in temperature regulation by collecting heat generated by the vehicle's moving parts and transferring it to the sump or cooler. Engine, gear, and hydraulic oils are the most common applications.
Some of the major players operating in the automotive lubricant market are
Dupont (U.S.)
SOLVAY (Belgium)
DAIKIN (Japan)
Dow (U.S.)
Halocarbon, LLC (U.S.)
Freudenberg SE (Germany)
The Chemours Company (U.S.)
Metalubgroup (Israel)
M&I Materials Limited (U.K)
Nye Lubricants, Inc. (U.S.)
Lubrilog (France)
ECCO Gleittechnik GmbH (Germany)
HUSK-ITT Corporation (U.S.)
Setral Chemie GmbH (Germany)
IKV Tribology Ltd (Germany)
AUTOMOTIVE LUBRICANT MARKET DYNAMICS
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
High Demand Across Automotive Industry
The increasing demand for engine oils, brake fluids, and transmission fluids is estimated to carve a way for the growth of the market. The global market is driven by rising demand for automotive lubricants in passenger automobiles, which is driving the global market.
Advancements in Lubricants
Nano-lubricants are an advanced development in the automobile lubricant sector, formed by combining nanoparticles with lubricants. Carbon-based nanoparticles added to automobile lubricants increase anti-wear qualities while also lowering frictional resistance in the engine. The nano-lubricants lower frictional resistance while also increasing the engine's load-carrying capability. Nano lubricants also have a tendency to "settle out" from liquid lubricants, necessitating substantial study to ensure their steady and effective manufacture. Therefore, the nano-lubricants are projected to bolster market growth.
Furthermore, the surging disposable income of the people coupled with the increasing automotive industry, will further propel the growth rate of automotive lubricant market. Additionally, the growing production of vehicles will also drive market value growth. The expansion of the automotive industry also boosts market growth. The high-performance automotive lubricants constitute excellent solvency and better hydrophilic properties, which is projected to bolster the growth of the market.
Opportunities
Awareness and Performance Criteria
The growing awareness among consumers across the globe to use quality lubricants for vehicles extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, to combat growing emissions, government agencies are adopting minimum performance criteria for lubricants. As a result, the use of low viscosity lubricants like synthetic/semi-synthetic oil is on the rise, which will further expand the future growth of the automotive lubricant market.
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GLOBAL AUTOMOTIVE LUBRICANT MARKET SCOPE
The automotive lubricant market is segmented on the basis of base oil, application, vehicle type and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Base Oil
Mineral Oil
Synthetic
Semi-Synthetic
Bio-Based Lubricant
Application
Engine Oil
Gear and Brake Oil
Coolants
Grease and Transmission Fluids
Vehicle Type
Passenger Cars
Hatchback
Sedan
Utility Vehicle
Light Commercial Vehicles
Heavy Commercial Vehicles
Others
Sales Channel
Aftermarket
Original Equipment Manufacturers (OEMs)
Automotive Lubricant Market Regional Analysis/Insights
The Automotive Lubricant market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Automotive Lubricant market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The report answers questions such as:
What is the market size and forecast of the Automotive Lubricant Market?
What are the inhibiting factors and impact of COVID-19 shaping the Automotive Lubricant Market during the forecast period?
Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Lubricant Market?
What is the competitive strategic window for opportunities in the Automotive Lubricant Market?
What are the technology trends and regulatory frameworks in the Automotive Lubricant Market?
What is the market share of the leading vendors in the Automotive Lubricant Market?
What modes and strategic moves are considered suitable for entering the Automotive Lubricant Market?
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https://webyourself.eu/blogs/106800/Synthetic-Spider-Silk-Market-Size-Share-Trends-Key-Drivers-Development
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