“Global Industrial Lubricants Market 2018-2025” The global Lubricants market was valued at USD xx million in 2017 and is forecasted to reach USD xx million by 2025, with a CAGR of xx% during the forecast period (2018-2025). Growth in the automotive industry, increasing urbanization and harsh traffic conditions are favouring the growth of global lubricants market. Lubricants are used to reduce friction between surfaces in contact, which in turn reduces the heat generated when the surfaces move, thereby ensuring the smooth functioning of the machine.
Lubricants are segmented into groups based on the base oil category depending on the percentages of the properties like sulphur, saturates, viscosity index.
Global Lubricants Market:
Group- I base oil occupies the major part with a market share of nearly 80%. These are solvent-refined, which is a simpler refining process and cheapest of base oils in the market.
Global Lubricants Market:
Current production of group I base oil constitutes of 46% of total production of mineral oils. With superior properties and relatively less cost, group 1 base oils are highly preferred for the lubricant production.Group- I base oil occupies the major part with a market share of nearly 80%. These are solvent-refined, which is a simpler refining process and cheapest of base oils in the market.
Global Lubricants Market:
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. Lubricants Market is segmented based on the base stock such asBio-Based Lubricants, Mineral Oil Lubricants, Synthetic Lubricants, and Semi-synthetic Lubricants. Further the market is segmented based on Group such as Group I, Group II, Group III, Group IV, and Group V. In addition, the market is classified by product type Engine Oil, General Industrial Oils, Gear Oil, Greases, Metalworking Fluids, Process Oils, Transmission & Hydraulic Fluids and Others. Also, the market is segmented based on End-user industry such as Automotive and Transportation, Chemical Manufacturing, Food & Beverage, Heavy Equipment, Metallurgy and Metal Working, Power Generation, and Others (Packaging, Oil & Gas (Drilling Fluids))Asia-Pacific is a developing and continuously growing region with rapidly expanding industrial and automotive sectors. It is the leading consumer of lubricants with a demand for nearly 30% of the global production. Total Oil Asia-Pacific Pte Ltd, Texas Petrochemical Asia Pacific Pte Ltd, Ro-Quip Asia Pacific Pte Ltd, Fuchs Lubricants India Pvt. Ltd, Paras Lubricants Limited are some of the notable players in the lubricant market.
The report profiles the following companies, which includes BP PLC., Chevron Corporation, Exxonmobil Corporation, Fuchs Petrolub AG, Idemitsu Kosan Co. Ltd, Lukoil, Petrochina Company Limited, Royal Dutch Shell PLC., Sinopec Limited and Total S.A.
Read more: Lubricants Market Insights 2018 to 2025
