Lubricants Market by Application, Product, and Geography - Forecast and Analysis 2023-2027

Published: Oct 2023 Pages: 178 SKU: IRTNTR45447

Lubricants Market Forecast 2023-2027

The Global Lubricants Market Size is estimated to grow by USD 25.23 billion between 2022 and 2027 exhibiting a CAGR of 3.5%. Primary factors driving the market growth include increasing demand from end-user industries, increasing need for reliable machinery and its effective maintenance, and the growing global marine industry. This market research report contains key drivers, trends, and challenges shaping the industry’s growth.  

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

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Market Definition 

Lubricants are substances that are used to control or reduce friction between two surfaces or components in equipment and machinery. These high-performance substances are used in various end-user industries as anti-wear additives, corrosion inhibitors, viscosity index improvers, friction modifiers, and extreme pressure additives. High-performance lubricants possess excellent thermal stability and lubricity; a high boiling point, specific gravity, and viscosity index; and a low freezing point.

Key Drivers, Trends, Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

Increasing demand from end-user industries is a key factor driving the growth of the market. Lubricants play a crucial role in various industries, including automotive, construction, steel and cement, wind energy, agriculture, mining, oil drilling, marine, and aerospace. In construction, they are essential for their anti-wear properties and resistance to corrosion, benefiting equipment like excavators and loaders. The steel and cement industry relies on lubricants to improve equipment lifespan, efficiency, and wear resistance. Mining, oil drilling, and agriculture sectors also heavily utilize them in various applications, such as engine oils, gear lubricants, and greases, to enhance performance and reduce maintenance costs. Overall, the increasing utilization of lubricants in these industries will drive market growth in the future.

Market Trends and Analysis

The adoption of bio-based lubricants in the global market is one of the latest trends followed by end-users and manufacturers. Companies manufacture biodegradable lubricants. Compared with petroleum-based lubricants, bio-based lubricants produce a cleaner, less toxic work environment for the engine and hydraulic system workers. They also cost less over the product lifecycle owing to less maintenance, storage, and disposal requirements.

These environment-friendly lubricants offer better safety due to higher flashpoints, constant viscosity, and less oil mist and vapor emissions. Many companies 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 the 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 degrade gradually and, therefore, leave minimal traces in the environment. Thus, these advantages will increase its adoption and, in turn, drive the market to focus during the forecast period.

Major Market Challenge

Fluctuations in crude oil prices are a major challenge that may hinder the growth of the market. The production of lubricants primarily relies on the fractioning process of crude oil. Mineral oil-based lubricants hold a significant portion of the global market and depend on raw materials supplied by the oil and gas industry. Fluctuations in crude oil prices have a detrimental effect on the cost of marine lubricants.

In 2021, global crude oil prices rose due to increased vaccination rates, easing pandemic restrictions, and global economic recovery, resulting in higher petroleum demand than supply. This heightened demand and decreased supply led to increased crude oil prices. Additionally, price volatility and the availability of raw materials, such as crude oil for lubricant manufacturing, directly impact the revenue and profit margins of lubricant manufacturers.

Market Segmentation by Application, Product, Geography

Application Analysis 

During the forecast period, the automotive oils segment is anticipated to experience substantial market share growth. The increased production and demand for automobiles, particularly in developing nations, have fueled their need in the automotive industry. The rising demand for passenger cars, especially in countries like China, India, Brazil, and Indonesia, is expected to drive the expansion of the automobile sector, consequently boosting its demand.

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The automotive oils segment has witnessed a steady increase in market share, growing from USD 68.81 billion in 2017 and continued to grow until 2021. Automotive lubricants play a crucial role in various applications such as engine oils, hydraulic oils, and shock absorber fluids. They effectively reduce friction and wear, leading to improved fuel efficiency and a longer lifespan for automotive components. Lubrication also prevents component seizures and serious damage. Additionally, they demonstrate high resistance to oil degradation and minimize evaporation, resulting in enhanced fuel efficiency. Their demand is further driven by their use in new applications, including battery cooling and noise reduction.

Product Analysis 

Based on product, the market is segmented into mineral oil-based, synthetic, and bio-based lubricants.  The mineral oil-based lubricants segment holds the largest market share. The high demand for mineral oil-based lubricants can be attributed to their cost-effectiveness and widespread availability. These lubricants are derived from natural petroleum or crude oil through distillation, solvent extraction, and cracking processes. A key advantage of mineral oil-based lubricants is their large-scale production during petroleum refining, resulting in significantly lower costs compared to synthetic and bio-based alternatives. 

Region Analysis

APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia-Pacific region is driven by high consumption in industries such as automotive, construction, and refining. Key countries like China, India, Japan, and South Korea contribute significantly to the demand. The market is diverse due to rapid industrialization, business sector expansion, and the presence of local companies. The automotive industry, along with sectors like heavy engineering, steel manufacturing, mining and refining, and plastics and polymers, fuels their demand. Manufacturers focus on branding and collaborations, while investments in manufacturing industries further drive demand. Companies face challenges due to disparities in crude oil prices and domestic market prices of petroleum products, influenced by factors like exchange rates, political situations, and global oil demand.

Key Market Companies

Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

Hindujagroup- The company offers lubricants such as machine oil, metal working oils, and industrial oils.

This market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Arabian Petroleum Ltd., BP Plc, Chevron Corp., Sinopec Shanghai Petrochemical Co. Ltd., CONDAT, ENEOS Holdings Inc., Exxon Mobil Corp., FUCHS PETROLUB SE, Gazpromneft Lubricants Ltd., GP Global, Hinduja Group Ltd., Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., Novvi LLC, Oil and Natural Gas Corp. Ltd., PETRONAS Chemicals Group Berhad, Phillips 66, PJSC LUKOIL, PT Pertamina Persero, and TotalEnergies SE.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak as forecasted in this market research and growth report.

Market Analyst Overview

The lubricants market is witnessing significant growth driven by various factors such as process automation in industries and the increasing demand for vehicles across the globe. Moreover, the rapid expansion of the e-commerce industry and the growing focus on renewable energy sources are further propelling the market forward. Fluctuations in crude oil prices and stringent environmental norms are creating stress within the market, but technological advancements are helping mitigate these challenges.

The rise of hybrid vehicles and the achievement of battery price parity are reshaping the landscape, alongside the ongoing dominance of internal combustion engines (ICE). As electric car batteries improve, offering extended driving range and quicker charge times, the opportunity for lubricant manufacturers to cater to the renewable energy sector grows, particularly in applications such as turbine oil for the wind power generation segment. This presents a promising outlook for the global market, especially with the increasing capacity of wind turbines and the ongoing evolution of synthetic oil offerings.

Segment Overview

This market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2017 to 2027. 

  • Application Outlook (USD Billion, 2017 - 2027)
    • Automotive oils
    • Industrial oils
    • Process oils
    • Metalworking fluids
    • Greases 
  • Product Outlook (USD Billion, 2017 - 2027)
    • Mineral oil-based lubricants
    • Synthetic lubricants
    • Bio-based lubricants
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America 
      • China
      • India

Market Scope

Report Coverage

Details

Page number

178

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.5%

Market growth 2023-2027

USD 25.23 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

3.0

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key countries

US, China, India, Japan, and Russia

Competitive landscape

 Leading Companys, Market Positioning of Companys, Competitive Strategies, and Industry Risks

Key companies profiled

Arabian Petroleum Ltd., BP Plc, Chevron Corp., Sinopec Shanghai Petrochemical Co. Ltd., CONDAT, ENEOS Holdings Inc., Exxon Mobil Corp., FUCHS PETROLUB SE, GP Global, Hinduja Group Ltd., Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., Novvi LLC, Oil and Natural Gas Corp. Ltd., PETRONAS Chemicals Group Berhad, Phillips 66, PJSC LUKOIL, PT Pertamina Persero, 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 market 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 Market Forecast Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting  between 2023 and 2027
  • Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Market Growth Analysis industry across APAC, Europe, North America, Middle East and Africa, and South America
  • Thorough analysis of the market’s competitive landscape and detailed information about companies
  • Market forecasting of factors that will challenge the growth of key market companies

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

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global lubricants market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global lubricants market 2017 - 2021 ($ billion)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)
    • 4.3 Product Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Automotive oils - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Automotive oils - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Automotive oils - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Automotive oils - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Automotive oils - Year-over-year growth 2022-2027 (%)
    • 6.4 Industrial oils - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Industrial oils - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Industrial oils - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Industrial oils - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Industrial oils - Year-over-year growth 2022-2027 (%)
    • 6.5 Process oils - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Process oils - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on Process oils - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on Process oils - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Process oils - Year-over-year growth 2022-2027 (%)
    • 6.6 Metalworking fluids - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Metalworking fluids - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 47: Data Table on Metalworking fluids - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Chart on Metalworking fluids - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Metalworking fluids - Year-over-year growth 2022-2027 (%)
    • 6.7 Greases - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Greases - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 51: Data Table on Greases - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Chart on Greases - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Greases - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by Application
      • Exhibit 54: Market opportunity by Application ($ billion)
      • Exhibit 55: Data Table on Market opportunity by Application ($ billion)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 56: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 57: Data Table on Product - Market share 2022-2027 (%)
    • 7.2 Comparison by Product
      • Exhibit 58: Chart on Comparison by Product
      • Exhibit 59: Data Table on Comparison by Product
    • 7.3 Mineral oil-based lubricants - Market size and forecast 2022-2027
      • Exhibit 60: Chart on Mineral oil-based lubricants - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Data Table on Mineral oil-based lubricants - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 62: Chart on Mineral oil-based lubricants - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on Mineral oil-based lubricants - Year-over-year growth 2022-2027 (%)
    • 7.4 Synthetic lubricants - Market size and forecast 2022-2027
      • Exhibit 64: Chart on Synthetic lubricants - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 65: Data Table on Synthetic lubricants - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Chart on Synthetic lubricants - Year-over-year growth 2022-2027 (%)
      • Exhibit 67: Data Table on Synthetic lubricants - Year-over-year growth 2022-2027 (%)
    • 7.5 Bio-based lubricants - Market size and forecast 2022-2027
      • Exhibit 68: Chart on Bio-based lubricants - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 69: Data Table on Bio-based lubricants - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Chart on Bio-based lubricants - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on Bio-based lubricants - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Product
      • Exhibit 72: Market opportunity by Product ($ billion)
      • Exhibit 73: Data Table on Market opportunity by Product ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 75: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 76: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 77: Chart on Geographic comparison
      • Exhibit 78: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 87: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 88: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 89: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 95: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 96: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 97: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 India - Market size and forecast 2022-2027
      • Exhibit 107: Chart on India - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 108: Data Table on India - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 109: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 111: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 112: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 113: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 114: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 Russia - Market size and forecast 2022-2027
      • Exhibit 115: Chart on Russia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 116: Data Table on Russia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 117: Chart on Russia - Year-over-year growth 2022-2027 (%)
      • Exhibit 118: Data Table on Russia - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 119: Market opportunity by geography ($ billion)
      • Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 121: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 122: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 123: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 124: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 125: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 126: Matrix on vendor position and classification
            • 12.3 BP Plc
              • Exhibit 127: BP Plc - Overview
              • Exhibit 128: BP Plc - Business segments
              • Exhibit 129: BP Plc - Key news
              • Exhibit 130: BP Plc - Key offerings
              • Exhibit 131: BP Plc - Segment focus
            • 12.4 Chevron Corp.
              • Exhibit 132: Chevron Corp. - Overview
              • Exhibit 133: Chevron Corp. - Business segments
              • Exhibit 134: Chevron Corp. - Key news
              • Exhibit 135: Chevron Corp. - Key offerings
              • Exhibit 136: Chevron Corp. - Segment focus
            • 12.5 CONDAT
              • Exhibit 137: CONDAT - Overview
              • Exhibit 138: CONDAT - Product / Service
              • Exhibit 139: CONDAT - Key offerings
            • 12.6 ENEOS Holdings Inc.
              • Exhibit 140: ENEOS Holdings Inc. - Overview
              • Exhibit 141: ENEOS Holdings Inc. - Product / Service
              • Exhibit 142: ENEOS Holdings Inc. - Key offerings
            • 12.7 Exxon Mobil Corp.
              • Exhibit 143: Exxon Mobil Corp. - Overview
              • Exhibit 144: Exxon Mobil Corp. - Business segments
              • Exhibit 145: Exxon Mobil Corp. - Key offerings
              • Exhibit 146: Exxon Mobil Corp. - Segment focus
            • 12.8 FUCHS PETROLUB SE
              • Exhibit 147: FUCHS PETROLUB SE - Overview
              • Exhibit 148: FUCHS PETROLUB SE - Business segments
              • Exhibit 149: FUCHS PETROLUB SE - Key news
              • Exhibit 150: FUCHS PETROLUB SE - Key offerings
              • Exhibit 151: FUCHS PETROLUB SE - Segment focus
            • 12.9 Gazpromneft Lubricants Ltd.
              • Exhibit 152: Gazpromneft Lubricants Ltd. - Overview
              • Exhibit 153: Gazpromneft Lubricants Ltd. - Product / Service
              • Exhibit 154: Gazpromneft Lubricants Ltd. - Key offerings
            • 12.10 Hinduja Group Ltd.
              • Exhibit 155: Hinduja Group Ltd. - Overview
              • Exhibit 156: Hinduja Group Ltd. - Product / Service
              • Exhibit 157: Hinduja Group Ltd. - Key offerings
            • 12.11 Idemitsu Kosan Co. Ltd.
              • Exhibit 158: Idemitsu Kosan Co. Ltd. - Overview
              • Exhibit 159: Idemitsu Kosan Co. Ltd. - Business segments
              • Exhibit 160: Idemitsu Kosan Co. Ltd. - Key offerings
              • Exhibit 161: Idemitsu Kosan Co. Ltd. - Segment focus
            • 12.12 Indian Oil Corp. Ltd.
              • Exhibit 162: Indian Oil Corp. Ltd. - Overview
              • Exhibit 163: Indian Oil Corp. Ltd. - Business segments
              • Exhibit 164: Indian Oil Corp. Ltd. - Key offerings
              • Exhibit 165: Indian Oil Corp. Ltd. - Segment focus
            • 12.13 Oil and Natural Gas Corp. Ltd.
              • Exhibit 166: Oil and Natural Gas Corp. Ltd. - Overview
              • Exhibit 167: Oil and Natural Gas Corp. Ltd. - Business segments
              • Exhibit 168: Oil and Natural Gas Corp. Ltd. - Key offerings
              • Exhibit 169: Oil and Natural Gas Corp. Ltd. - Segment focus
            • 12.14 PETRONAS Chemicals Group Berhad
              • Exhibit 170: PETRONAS Chemicals Group Berhad - Overview
              • Exhibit 171: PETRONAS Chemicals Group Berhad - Business segments
              • Exhibit 172: PETRONAS Chemicals Group Berhad - Key news
              • Exhibit 173: PETRONAS Chemicals Group Berhad - Key offerings
              • Exhibit 174: PETRONAS Chemicals Group Berhad - Segment focus
            • 12.15 PJSC LUKOIL
              • Exhibit 175: PJSC LUKOIL - Overview
              • Exhibit 176: PJSC LUKOIL - Business segments
              • Exhibit 177: PJSC LUKOIL - Key news
              • Exhibit 178: PJSC LUKOIL - Key offerings
              • Exhibit 179: PJSC LUKOIL - Segment focus
            • 12.16 Sinopec Shanghai Petrochemical Co. Ltd.
              • Exhibit 180: Sinopec Shanghai Petrochemical Co. Ltd. - Overview
              • Exhibit 181: Sinopec Shanghai Petrochemical Co. Ltd. - Business segments
              • Exhibit 182: Sinopec Shanghai Petrochemical Co. Ltd. - Key news
              • Exhibit 183: Sinopec Shanghai Petrochemical Co. Ltd. - Key offerings
              • Exhibit 184: Sinopec Shanghai Petrochemical Co. Ltd. - Segment focus
            • 12.17 TotalEnergies SE
              • Exhibit 185: TotalEnergies SE - Overview
              • Exhibit 186: TotalEnergies SE - Business segments
              • Exhibit 187: TotalEnergies SE - Key news
              • Exhibit 188: TotalEnergies SE - Key offerings
              • Exhibit 189: TotalEnergies SE - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 190: Inclusions checklist
                • Exhibit 191: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 192: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 193: Research methodology
                • Exhibit 194: Validation techniques employed for market sizing
                • Exhibit 195: Information sources
              • 13.5 List of abbreviations
                • Exhibit 196: 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.

              INFORMATION 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

              DATA 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

              REPORT 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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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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