Lubricant Market is Expected to Reach $196.9 by 2031 - Grauer & Weil (India) Limited, Mosil Lubricants, Anand Engineers Pvt. Ltd.

The global Lubricant Market was valued at USD 161.1 billion in 2024 and is projected to reach USD 196.9 billion by 2031, with a CAGR of 2.6% from 2024 to 2031. The expansion of the power, automotive, and engineering sectors is creating new opportunities for growth in the lubricant industry.

As consumers transition to more efficient cars and motorcycles, there is a growing demand for higher-grade lubricants. This shift is boosting the market share of multi-grade lubricants, which are favored for their performance across varying conditions.

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Market Dynamics:

Demand for High-Performance Lubricants Drives the Market

High-performance lubricants are specifically engineered to minimize wear and friction between moving parts, enhancing overall efficiency. Their superior capabilities distinguish them from conventional lubricants, making them ideal for a variety of applications. By reducing wear and tear, these lubricants ensure smoother operation and longer equipment lifespan, positioning them as the preferred choice for industries focused on optimizing performance and durability.

Success in the lubricant industry now hinges on a robust distribution network and a strong brand presence. The market is evolving in terms of marketing strategies, with an increasing demand for high-performance lubricants, including synthetic and specialty types. Companies are focusing on boosting output and minimizing downtime, driving the growth of these advanced lubricant solutions.

Segment Covered in the Lubricants Market

By Base Stock: Bio-Based Lubricants, Mineral Oil Lubricants, Synthetic Lubricants, Semi-synthetic Lubricants

By Group: Group I, Group II, Group III, Group IV, Group V

By Product Type: Engine Oil, General Industrial Oils, Gear Oil, Greases, Metalworking Fluids, Process Oils, Transmission & Hydraulic Fluids, Others

By End-User Industry: Automotive and Transportation, Chemical Manufacturing, Food & Beverage, Heavy Equipment, Metallurgy and Metalworking, Power Generation, Others (Packaging, Oil & Gas (Drilling Fluids)

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Major Key players involved in Lubricants Market:

• Grauer & Weil (India) Limited
• Mosil Lubricants
• Mosil Lubricants
• Anand Engineers Pvt. Ltd.
• APAR Lubricants
• Exxon Mobil Corporation.
• Arabian Petroleum Ltd
• Shell
• JAX Incorporated
• Manak Petro Chem (India).
• NANDAN PETROCHEM LTD
• CASTROL LIMITED
• Phillips 66 Company
• TotalEnergies

Regional Analysis:

The global Lubricants Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

The Lubricants Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Transradial Access Devices Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Key Developments

On January 4, 2023, Goodyear Lubricants announced the launch of new BS-6 compliant lubricants manufactured in Haryana, India. This new range of vehicle lubricant oils will be distributed across South Asia, Southeast Asia, and New Zealand.

On March 5, 2023, Hindustan Petroleum Corporation Limited (HPCL) expanded its market by launching a new line of lubricant products in Qatar. This move signifies an increase in trade and commerce between Qatar and India.

On February 27, 2023, Neste introduced a new range of sustainable lubricants, known as Neste ReNew™, which are produced using renewable or re-refined base oils. These new lubricants, featuring premium additives, will be launched in Finland, Sweden, the Baltic states, and Poland during the first quarter of 2023.

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