Independent Lubricant Manufacturers Market Presents Rewarding Growth Opportunities By 2025

Independent lubricant manufacturers usually do not have their own refineries. They purchase base oils from major oil suppliers. Manufacturers then blend these oils with additives to make lubricants for industrial manufacturing customers and automobile makers. Independent lubricant manufacturers primarily focus on manufacturing and marketing lubricants for specialties and niche businesses.

Independent lubricant manufacturers offer services to end-user industries such as automotive, aerospace, marine, and industrial. The lubricants required in these end-user industries chiefly comprise of engine oils, gear oils, hydraulics fluids, transmission fluids, greases, heat transfer fluids, coolants, and cleaners. Lubricants are also required in industries such as personal care, agriculture, and railway.

According to the report, the global independent lubricant manufacturers market was valued at US$6,800.79 mn in 2016 and is estimated to reach US$9,454.04 mn by 2025, expanding at a CAGR of 3.80% between 2017 and 2025.

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Rise in demand for automotive is anticipated to drive the demand for automotive lubricants in the next few years as well. Increase in environmental awareness and implementation of strict government regulations are expected to boost the demand for high-quality and greener lubricants in the automotive industry in the next few years. As the global appetite for automobiles continues to rise, led by the growth in disposable income of consumers, the demand for products from independent lubricant manufacturers is also expected to rise significantly in the next few years.

The level of competition is high and companies compete on the basis of product pricing, distribution channels, and innovative product offerings. Owing to vast growth opportunities in the field of bio-based lubricants, many leading vendors are focusing on the expansion of their product portfolios to include these lucrative products. Expansion across high-growth emerging economies and introduction of economic and environmentally neutral products could be the most rewarding strategies for companies struggling to establish their footing in the global independent lubricant manufacturers market.

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The mineral lubricants product segment dominated, accounting for a massive 60.8% of the global independent lubricant manufacturers market in 2016. However, the segment’s share is expected to decline nominally during the forecast period, with the segment of synthetic lubricants experiencing a notable rise. In terms of geography, the global market for independent lubricant manufacturers, in terms of market growth potential as well as revenue share, was led by Asia Pacific in 2016, followed by North America.

Fluctuating prices of raw materials are one of the key challenges hindering the growth prospects of the global market for independent lubricants manufacturers. Fluctuation in raw material costs invariably affect pricing models and mostly have a negative impact on profit margins, especially in cost-sensitive regional markets, wherein consumers easily shift preferences, favoring cheaper alternatives. While bio-based lubricants are expected to witness a healthy rise in demand, their high costs could also deter consumers in developing economies from buying bio-based lubricants and instead choosing conventional crude-oil based lubricants.

The demand for lubricants in Europe is primarily led by countries such as Germany, France, U.K., and Russia. The market in Western Europe is comparatively mature than Eastern Europe, but the latter is anticipated to show comparatively higher promise in terms of growth potential for the independent lubricant manufacturers market.

Some of the leading companies operating in the global independent lubricant manufacturers market are FUCHS, ADDINOL Lube Oil GmbH, AMSOIL INC., BVA Oil, Carlube, Forsythe Lubrication, and Motul.

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