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Aviation Lubricants Market Research Report 2023-2032: Demand, Trends, Size And Forecast Analysis | Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, The Chemours Company, Lanxess
Aviation Lubricants Market
The Business Research Company's Aviation Lubricants Global Market Report 2023 identifiesrise in air passenger traffic as the major driver for the Aviation Lubricants market's growth in the forecast period. Air transportation has been an essential mode of transportation for travel from one location to another and for services. With the change in the aircraft industry, there is simultaneous growth in air traffic, leading to an increase in the demand for new aircraft and maintenance of the existing fleet.
The global aviation lubricants market size grew from $1.61 billion in 2022 to $1.75 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the aviation lubricants is expected to grow to $2.37 billion in 2027 at a CAGR of 8.0%.
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Major competitors in the Aviation Lubricants market are Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, The Chemours Company, Lanxess.
A key trend in the Aviation Lubricants market includes eco-friendly and safe aviation fuel and lubricant. Due to the increased environmental concern, the aviation lubricants market is witnessing the need for eco-friendly and safe aviation lubricants. Sustainable aviation fuel is being identified as a critical component in achieving these objectives. Many companies operating in aviation lubricants are developing lubricants that are ecofriendly and safe to use in nature to provide better products for their clients. For instance, in January 2021, Xeriant, Inc., a Florida-based developer of commercial aerospace technologies entered into a strategic partnership with Xeriant Europe s.r.o. to launch eco-friendly metal conditioners and lubricants under the name XERI-MC and XERI-L.
Read More On The Global Aviation Lubricants Market Report Here:
https://www.thebusinessresearchcompany.com/report/aviation-lubricants-global-market-report
The Aviation Lubricants market is segmented -
1. By Type: Engine Oil, Grease, Special Lubricants And Additives, Hydraulic Fluid.
2. By Technology: Synthetic, Mineral Based
3. By Application: Hydraulic Systems, Engine
4. By Aircrafts: Business Jets and Turboprop Planes, Large Commercial Jets, Piston Engine Aircraft, Defense Aircraft, Helicopters, Other Aircrafts
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Aviation Lubricants market.
The Business Research Company's "Global Aviation Lubricants Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Aviation Lubricants Market Include:
1. Executive Summary
2. Aviation Lubricants Market Characteristics
3. Aviation Lubricants Market Trends And Strategies
4. Aviation Lubricants Market - Macro Economic Scenario
5. Aviation Lubricants Market Size And Growth
……
26. Africa Aviation Lubricants Market
27. Aviation Lubricants Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aviation Lubricants Market
29. Aviation Lubricants Market Future Outlook and Potential Analysis
30. Appendix
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