Press release
Aviation Lubricants Market: Soaring Growth Projections and Key Market Drivers
Unprecedented growth in air travel, demand for fuel-efficient aircraft and investments in research and development activities are significantly driving the aviation lubricants market.
What Is The Projected Market Size Of The Global Aviation Lubricants Market And Its Growth Rate?
• The global aviation lubricants market was worth $1.89 billion in 2024 and is projected to increase to $2.03 billion in 2025, marking a compound annual growth rate (CAGR) of 7.4%..
• The market size is expected to further grow to $2.72 billion in 2029 with a compound annual growth rate (CAGR) of 7.7%.
What Is Driving The Growth In The Aviation Lubricants Market?
The surge in air passenger traffic is significantly contributing to the growth of the aviation lubricants market. As a critical form of transportation, aviation's proliferation has naturally led to a spike in air traffic. This increase, in turn, necessitates the procurement of new aircraft and maintenance of the existing fleet. As an essential component in maintaining engine performance and longevity, aviation lubricants are increasingly in demand. As confirmed by a 2022 report from the International Air Transport Association (IATA), total traffic in March 2022 was up 76.0 % from March 2021, and with primary growth regions being Europe, Asia-pacific, and North America, accounting for 85% of overall air passenger traffic, the demand for aviation lubricants is set to heighten.
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Who Are the Key Players Driving Aviation Lubricants Market Growth?
Key market players include:
• Aerospace Lubricants Inc.
• Eastman Chemical Company
• Exxon Mobil Corporation
• The Chemours Company
• Lanxess AG
• Royal Dutch Shell plc
• NYCO Tournai Plant
• Langepas Uray and Kogalym oil Inc.
• Nye Lubricants Inc.
• Ragosine Oil Company
• JET-LUBE Ltd.
• TotalEnergies SE
• BP p.l.c.
• Phillips Petroleum Company
• Tecsia Lubricants Pte Ltd.
What Are The Key Trends In The Aviation Lubricants Market?
Upcoming trends include:
• Development of IoT sensors for monitoring lubricants.
• Enhancement of additives for improved lubricant quality.
• Progress in synthetic lubricants and bio-based lubricants.
• Increased focus on engine efficiency.
What Are The Segments Of The Global Aviation Lubricants Market?
• By Type: Engine Oil, Grease, Special Lubricants And Additives, Hydraulic Fluid
• By Aircrafts: Business Jets and Turboprop Planes, Large Commercial Jets, Piston Engine Aircraft, Defense Aircraft, Helicopters, Other Aircrafts
• By Technology: Synthetic, Mineral Based
• By Application: Hydraulic Systems, Engine
Which Region Leads The Aviation Lubricants Market?
In 2024, North America held the lion's share of the aviation lubricants market. Meanwhile, the Asia-Pacific region is anticipated to exhibit the highest growth rate in the forecast period.
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What Is Covered In The Aviation Lubricants Market Global Market Report?
• Market Size Analysis: Analyze the Aviation Lubricants Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Aviation Lubricants Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Aviation Lubricants Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Aviation Lubricants Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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