Lubricant Market Positive Long-Term Growth Outlook 2025
Browse Market Research Report @: http://www.transparencymarketresearch.com/lubricant-market-opportunity-analysis-independent-manufacturers.html
Despite the stronghold of top vendors, the presence of a large number of small players stiffens competition in the global independent lubricant manufacturers market. Product pricing, innovative product offerings, and distribution channels are the key aspects that based on which companies in this market compete to garner larger market share. The emergence of bio-based lubricants and the vast growth opportunities on account of demand for these products is expected to intensify competition in the market.
Furthermore, penetration into high-growth emerging economies and development of environmentally sustainable products could be the most rewarding strategies for companies contending to establish their presence in the global independent lubricant manufacturers market.
TMR estimates that the global independent manufacturers market will reach a valuation of US$9,454.04 mn by the end of 2025 increasing from US$6,800.79 mn in 2016, at a CAGR of 3.80% between 2017 and 2025.
In 2016, the mineral lubricants product segment led the market holding a massive 60.8% share. However, the segment is expected to witness a nominal decline over the forecast period, on account of a notable rise of the synthetic lubricants product segment.
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On the basis of geography, in 2016, Asia Pacific led the global independent lubricant manufacturers market in terms of revenue share, followed by North America.
Growth of Automotive Industry Catapults Demand for Lubricants
Some of the key factors driving growth of the global independent lubricant manufacturers market is the healthy growth of the automotive industry and immense demand for bio-based lubricants. The significant expansion of the automotive industry, which is one of the key end users of lubricants, predominantly in emerging economies due to a rapidly growing middle-class population and strengthening financial conditions is majorly fuelling the market’s growth.
The implementation of environment protection regulations across key regional markets has led to a massive demand for high-quality lubricants. With these regulations expected to remain in place in the forthcoming years, the trend is anticipated to have an immense positive impact on the growth of independent lubricant manufacturers market. Furthermore, environment protection stipulations is also expected to witness demand for bio-based lubricants, thereby presenting growth opportunities for independent lubricant manufacturers that offer bio-based products.
Fluctuating Feedstock Prices Impacting Profit Margins Favor Use of Low Cost Alternatives in Cost Sensitive Regions
On the flip side, however, fluctuating raw material prices is posing as a deterrent to the growth of independent lubricant manufacturers market. This is because fluctuations in feedstock prices inevitably affect pricing models and mostly lead to declined profit margins. Price related fluctuations mostly impact cost-sensitive regional markets, wherein consumers easily shift to cheaper alternatives.
Despite the palpable environment benefits of bio-based lubricants, their high costs is preventing consumers from buying these products and instead opt for conventional crude-oil based lubricants.
The review presented here is based on the findings of a report by Transparency Market Research, titled “Independent Lubricant Manufacturers Market (Type - Mineral Lubricants, Synthetic Lubricants, and Bio-based Lubricants; Application - Automotive, Aerospace, Marine, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
For this report, the global independent lubricant manufacturers market is segmented as follows:
Independent Lubricant Manufacturers Market – Product Analysis
Independent Lubricant Manufacturers Market – Application Analysis
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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