Agricultural Lubricants Market by Type and Geography - Forecast and Analysis 2021-2025

The agricultural lubricants market share is expected to increase by USD 657.45 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (mineral oil-based lubricants, synthetic-based lubricants, and bio-based lubricants) and geography (APAC, Europe, North America, South America, and MEA).

The agricultural lubricants market report also offers information on several market vendors, including BP Plc, Chevron Corp., CONDAT group, Exxon Mobil Corp., FUCHS PETROLUB SE, Gulf Oil Lubricants India Ltd., Repsol SA, Royal Dutch Shell Plc, TOTAL SA, and Witham Oil & Paint Ltd. among others.

BP Plc - The company offers lubricants, such as greases and transmission oils for agriculture equipment. The upstream segment includes oil and natural gas exploration, field development and production, midstream transportation, storage and processing, and the marketing and trading of natural gas, including liquefied natural gas, together with power and natural gas liquids.

What will the Agricultural Lubricants Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global agricultural lubricant as a part of the global speciality chemicals market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Agricultural Lubricants Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The high adoption of agricultural machines is notably driving the market growth, although factors such as may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Agricultural Lubricants Market Driver

• One of the key factors driving growth in the market is the high adoption of agricultural machines.
• Farming is labour-intensive and time-consuming. There has been a shift to non-agricultural sectors such as service and manufacturing because of improved and regular wages offered by these sectors.
• Machines are increasingly used to reduce the human workforce. The extensive use of machines in farming is expected to fuel the consumption of agricultural lubricants.
• The automatization in the agricultural industry is increasing the demand for agriculture equipment, which, in turn, will drive the growth of the market in focus during the forecast period. 

Key Agricultural Lubricants Market Challenge

• The volatility in raw material prices will be a major challenge for the market during the forecast period.
• Agricultural lubricants are mainly produced from crude oil. Fluctuations in crude oil prices severely affect the prices of raw materials, thereby affecting the cost of agricultural lubricants.
• Adverse weather conditions, national emergencies, natural disasters, supply shortages, and other factors can hamper the continuous supply of raw materials,
• Price fluctuations and unavailability of raw materials can negatively affect the cost of products and vendor operations, which in turn hampers the growth of the market. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Agricultural Lubricants Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the agricultural lubricants market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Agricultural Lubricants Market?

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48% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for agricultural lubricants in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The agriculture sector dominates APAC because of the rapid increase in population and the rise in demand for food. In addition, industrialization and urbanization in the region have reduced hectares of land, which were otherwise available for cultivation. Therefore, there is a high demand for improved agricultural productivity.  This will facilitate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Type Segment in the Agricultural Lubricants Market?

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The market share growth by the Mineral oil-based lubricants segment will be significant during the forecast period. Mineral oil-based lubricants are obtained by refining crude oil. The three types of mineral oil are naphthenic, paraffinic, and aromatic. Factors such as easy availability, low cost of mineral oils, and increased expenditure on R&D are likely to drive the demand for mineral oil-based lubricants. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Agricultural Lubricants Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the market industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of market vendors

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