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Lubricants Market by Product, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR45447
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The global lubricants market share is expected to increase by $ 6.22 mn from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.33%.

This global lubricants market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers global lubricants market segmentations by product (mineral oil-based lubricants, synthetic lubricants, and bio-based lubricants), application (automotive oils, Industrial oils, process oils, metalworking fluids, and greases), and geography (APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America). The global lubricants market report also offers information on several market vendors, including BP Plc, Chevron Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., PetroChina Co. Ltd., Petroliam Nasional Berhad , Royal Dutch Shell Plc, and TotalEnergies SE among others.

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

Download the Free Report Sample to Unlock the Global lubricants Market Size for the Forecast Period and Other Important Statistics

 

Global 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 increasing demand from end-user industries is notably driving the global lubricants market growth, although factors such as fluctuations in crude oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the global lubricants industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Global Lubricants Market Driver

The increasing demand from end-user industries are one of the key factors driving the growth of the global industrial internet of things market. Although the automotive industry is the key consumer of lubricants, the global lubricants market is also driven by the construction, steel and cement, wind energy, agriculture, mining and oil drilling, marine, and aerospace industries. Moreover, in the construction industry, lubricants are used in construction equipment owing to their anti-wear characteristics, resistance to corrosion, excellent lubricity, water tolerance, and filterability. Similarly, in the steel and cement industry, lubricants are used to increase drain/re-greasing intervals of the equipment, lubrication efficiency, wear resistance of friction pairs, and enhance the lifespan of the equipment. However, in the mining and oil drilling industry, lubricants are used in diesel engine oils, air compressor oils, gear and axle lubricants, transmission fluids, and gear and circulating oils. The above factors will increase the demand for the market in focus during the forecast period.

Key Global Lubricants Market Trend

The emergence of bio-based lubricants will fuel the global industrial internet of things market. The adoption of bio-based lubricants in the global lubricants market is one of the latest trends followed by end-users and manufacturers. Vendors are manufacturing biodegradable lubricants. Compared with petroleum-based lubricants, bio-based lubricants produce a cleaner, less toxic work environment for the engine and hydraulic system workers. Bio-based lubricants also cost less over the product lifecycle owing to less maintenance, storage, and disposal requirements. Moreover, these environment-friendly lubricants offer better safety due to higher flashpoints, constant viscosity, and less oil mist and vapor emissions. Many vendors are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts on the environment. The use of bio-based lubricants can reduce pollution in stormwater from engine, hydraulic systems, and brake line leaks. Many European countries now require bio-based lubricants in certain environmentally sensitive applications. RSC Bio Solutions, the US-based lubricant manufacturer, offers bio-based lubricant under the trade name FUTERRA, a plant-based lubricant. In addition, Castrol and FUCHS are also manufacturing environment-friendly lubricants. These bio-based lubricants degrade gradually and, therefore, leave minimal traces in the environment.

Key Global Lubricants Market Challenge

The fluctuations in crude oil prices are a major challenge for the global industrial internet of things market growth. As mineral oil-based lubricants and synthetic lubricants are manufactured from crude oil, the fluctuating crude oil prices are expected to hamper the growth of the global lubricants market during the forecast period. The increasing prices of crude oil can adversely affect the manufacturers and end-users. Fluctuations in crude oil prices are a major factor that causes volatility in raw material prices. Synthetic lubricants are primarily derived from hydrocarbons derived from petroleum. Synthetic esters, PAOs, phosphate esters, glycols, and other silicate esters obtained from petroleum are a few other major sources of construction lubricants. Volatility in raw material prices can hinder the growth of the global lubricants market as it adversely affects the supply and profit margins of manufacturers. Raw materials account for a majority of the total cost of the finished product. Such factors will hinder the market growth during the forecast period.

This global lubricants 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.

Parent Market Analysis

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

Who are the Major Global Lubricants Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BP Plc
  • Chevron Corp.
  • Exxon Mobil Corp.
  • FUCHS PETROLUB SE
  • Idemitsu Kosan Co. Ltd.
  • Indian Oil Corp. Ltd.
  • PetroChina Co. Ltd.
  • Petroliam Nasional Berhad 
  • Royal Dutch Shell Plc
  • TotalEnergies SE

 

This statistical study of the global lubricants market encompasses successful business strategies deployed by the key vendors. The global lubricants market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • BP Plc - The company offers lubricants products such as Visco 7000 5W-30, Visco 7000 C 5W-40, and Visco 5000 5W-30.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The global lubricants market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Global Lubricants Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the global lubricants market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global specialty chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Global Lubricants Market?

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59% of the market’s growth will originate from APAC during the forecast period. China, India and Japan are the key markets for global lubricants market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The increasing demand from end-user industries will facilitate the global lubricants 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.

COVID Impact and Recovery Analysis

Owing to the outbreak of COVID-19, there were fluctuations in the price of oil; for instance, in India, it is continuously increasing since Q1 2021. As lubricants are 90% oil-based, these factors highly affect the vendors in the region. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to increase the demand for construction toys, which, in turn, will drive the market during the forecast period.

What are the Revenue-generating Product Segments in the Global Lubricants Market?

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The global lubricants market share growth by the mineral oil-based lubricants segment will be significant during the forecast period. The high demand for mineral oil-based lubricants can be attributed to their low cost and easy accessibility. Mineral oil-based lubricants are derived from naturally occurring petroleum or crude oil by distillation, solvent extraction, and cracking. One of the main advantages of using mineral oil-based lubricants is that they are manufactured on a large scale during petroleum refining and, therefore, are much cheaper than synthetic and bio-based lubricants.

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

 

Global Lubricants Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.33%

Market growth 2021-2025

$ 6.22 million

Market structure

Fragmented

YoY growth (%)

2.21

Regional analysis

APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 59%

Key consumer countries

China, US, India, Japan, Russian Federation, and Brazil

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

BP Plc, Chevron Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., PetroChina Co. Ltd., Petroliam Nasional Berhad , Royal Dutch Shell Plc, and TotalEnergies SE

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive global lubricants market growth during the next five years
  • Precise estimation of the global lubricants market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the global lubricants industry across APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of global lubricants market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Specialty chemicals

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 (million tons)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Mineral oil-based lubricants - Market size and forecast 2020-2025
      • Exhibit 17: Mineral oil-based lubricants - Market size and forecast 2020-2025 (million tons)
      • Exhibit 18: Mineral oil-based lubricants - Year-over-year growth 2020-2025 (%)
    • 5.4 Synthetic lubricants - Market size and forecast 2020-2025
      • Exhibit 19: Synthetic lubricants - Market size and forecast 2020-2025 (million tons)
      • Exhibit 20: Synthetic lubricants - Year-over-year growth 2020-2025 (%)
    • 5.5 Bio-based lubricants - Market size and forecast 2020-2025
      • Exhibit 21: Bio-based lubricants - Market size and forecast 2020-2025 (million tons)
      • Exhibit 22: Bio-based lubricants - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 24: Application - Market share 2020-2025 (%)
    • 6.2 Comparison by Application
      • Exhibit 25: Comparison by Application
    • 6.3 Automotive oils - Market size and forecast 2020-2025
      • Exhibit 26: Automotive oils - Market size and forecast 2020-2025 (million tons)
      • Exhibit 27: Automotive oils - Year-over-year growth 2020-2025 (%)
    • 6.4 Industrial oils - Market size and forecast 2020-2025
      • Exhibit 28: Industrial oils - Market size and forecast 2020-2025 (million tons)
      • Exhibit 29: Industrial oils - Year-over-year growth 2020-2025 (%)
    • 6.5 Process oils - Market size and forecast 2020-2025
      • Exhibit 30: Process oils - Market size and forecast 2020-2025 (million tons)
      • Exhibit 31: Process oils - Year-over-year growth 2020-2025 (%)
    • 6.6 Metalworking fluids - Market size and forecast 2020-2025
      • Exhibit 32: Metalworking fluids - Market size and forecast 2020-2025 (million tons)
      • Exhibit 33: Metalworking fluids - Year-over-year growth 2020-2025 (%)
    • 6.7 Greases - Market size and forecast 2020-2025
      • Exhibit 34: Greases - Market size and forecast 2020-2025 (million tons)
      • Exhibit 35: Greases - Year-over-year growth 2020-2025 (%)
    • 6.8 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 38: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 39: Geographic comparison
    • 8.3 APAC - Market size and forecast 2020-2025
      • Exhibit 40: APAC - Market size and forecast 2020-2025 (million tons)
      • Exhibit 41: APAC - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 42: Europe - Market size and forecast 2020-2025 (million tons)
      • Exhibit 43: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 North America - Market size and forecast 2020-2025
      • Exhibit 44: North America - Market size and forecast 2020-2025 (million tons)
      • Exhibit 45: North America - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 46: MEA - Market size and forecast 2020-2025 (million tons)
      • Exhibit 47: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 48: South America - Market size and forecast 2020-2025 (million tons)
      • Exhibit 49: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 50: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 51: Market opportunity by geography (million tons)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • Exhibit 53: Vendor landscape
          • 10.2 Landscape disruption
            • Exhibit 54: Landscape disruption
            • Exhibit 55: Industry risks

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 56: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 57: Market positioning of vendors
          • 11.3 BP Plc
            • Exhibit 58: BP Plc - Overview
            • Exhibit 59: BP Plc - Business segments
            • Exhibit 60: BP Plc - Key News
            • Exhibit 61: BP Plc - Key offerings
            • Exhibit 62: BP Plc - Segment focus
          • 11.4 Chevron Corp.
            • Exhibit 63: Chevron Corp. - Overview
            • Exhibit 64: Chevron Corp. - Business segments
            • Exhibit 65: Chevron Corp. - Key News
            • Exhibit 66: Chevron Corp. - Key offerings
            • Exhibit 67: Chevron Corp. - Segment focus
          • 11.5 Exxon Mobil Corp.
            • Exhibit 68: Exxon Mobil Corp. - Overview
            • Exhibit 69: Exxon Mobil Corp. - Business segments
            • Exhibit 70: Exxon Mobil Corp. - Key offerings
            • Exhibit 71: Exxon Mobil Corp. - Segment focus
          • 11.6 FUCHS PETROLUB SE
            • Exhibit 72: FUCHS PETROLUB SE - Overview
            • Exhibit 73: FUCHS PETROLUB SE - Business segments
            • Exhibit 74: FUCHS PETROLUB SE - Key News
            • Exhibit 75: FUCHS PETROLUB SE - Key offerings
            • Exhibit 76: FUCHS PETROLUB SE - Segment focus
          • 11.7 Idemitsu Kosan Co. Ltd.
            • Exhibit 77: Idemitsu Kosan Co. Ltd. - Overview
            • Exhibit 78: Idemitsu Kosan Co. Ltd. - Business segments
            • Exhibit 79: Idemitsu Kosan Co. Ltd. - Key offerings
            • Exhibit 80: Idemitsu Kosan Co. Ltd. - Segment focus
          • 11.8 Indian Oil Corp. Ltd.
            • Exhibit 81: Indian Oil Corp. Ltd. - Overview
            • Exhibit 82: Indian Oil Corp. Ltd. - Business segments
            • Exhibit 83: Indian Oil Corp. Ltd. - Key offerings
            • Exhibit 84: Indian Oil Corp. Ltd. - Segment focus
          • 11.9 PetroChina Co. Ltd.
            • Exhibit 85: PetroChina Co. Ltd. - Overview
            • Exhibit 86: PetroChina Co. Ltd. - Business segments
            • Exhibit 87: PetroChina Co. Ltd. - Key offerings
            • Exhibit 88: PetroChina Co. Ltd. - Segment focus
          • 11.10 Petroliam Nasional Berhad
            • Exhibit 89: Petroliam Nasional Berhad  - Overview
            • Exhibit 90: Petroliam Nasional Berhad  - Business segments
            • Exhibit 91: Petroliam Nasional Berhad  - Key News
            • Exhibit 92: Petroliam Nasional Berhad  - Key offerings
            • Exhibit 93: Petroliam Nasional Berhad  - Segment focus
          • 11.11 Royal Dutch Shell Plc
            • Exhibit 94: Royal Dutch Shell Plc - Overview
            • Exhibit 95: Royal Dutch Shell Plc - Business segments
            • Exhibit 96: Royal Dutch Shell Plc - Key offerings
            • Exhibit 97: Royal Dutch Shell Plc - Segment focus
          • 11.12 TotalEnergies SE
            • Exhibit 98: TotalEnergies SE - Overview
            • Exhibit 99: TotalEnergies SE - Business segments
            • Exhibit 100: TotalEnergies SE - Key News
            • Exhibit 101: TotalEnergies SE - Key offerings
            • Exhibit 102: TotalEnergies SE - Segment focus

          12 Appendix

          • 12.1 Scope of the report
            • 12.2 Currency conversion rates for US$
              • Exhibit 103: Currency conversion rates for US$
            • 12.3 Research methodology
              • Exhibit 104: Research Methodology
              • Exhibit 105: Validation techniques employed for market sizing
              • Exhibit 106: Information sources
            • 12.4 List of abbreviations
              • Exhibit 107: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            The global lubricants market market growth will increase by $$ 6.22 mn during 2022-2025.
            The global lubricants market market is expected to grow at a CAGR of 3.33% during 2022-2025.
            Technavio has segmented the global lubricants market market by product (mineral oil-based lubricants, synthetic lubricants, and bio-based lubricants) ,application (automotive oils, Industrial oils, process oils, metalworking fluids, and greases) , and geographic (APAC, Europe, North America, MEA, and South America).
            BP Plc, Chevron Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., PetroChina Co. Ltd., Petroliam Nasional Berhad , Royal Dutch Shell Plc, TotalEnergies SE are a few of the key vendors in the global lubricants market market.
            APAC will register the highest growth rate of 59% among the other regions. Therefore, the global lubricants market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            • China
            • US
            • India
            • Japan
            • Russian Federation
            • Brazil
            The key factors driving the global lubricants market market growth are:
            • Increasing demand from end-user industries
            • Emergence of bio-based lubricants
            The global lubricants market market vendors should focus on grabbing business opportunities from the mineral oil-based lubricants segment as it accounted for the largest market share in the base year.
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