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

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR45447
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The lubricants market has the potential to grow by 6.22 million tonnes during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.33%.

This 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 market segmentation 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, and South America). The 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., Royal Dutch Shell Plc, and TotalEnergies SE among others.

What will the Lubricants Market Size be in 2021?

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Lubricants Market: Key Drivers and Trends

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

  • One of the key factors driving growth in the lubricants market is the increasing demand from end-user industries.
  • The global lubricants market is driven by the automotive, construction, steel and cement, wind energy, agriculture, mining and oil drilling, marine, and aerospace industries.  
  • The steel and cement industry use lubricants to increase drain/re-greasing intervals of the equipment, lubrication efficiency, wear resistance of friction pairs, and enhance the lifespan of the equipment.
  • Lubricants help reduce unscheduled maintenance, reduce maintenance costs, extend equipment life, enhance product performance, and boost farming productivity.
  • The increasing need for reliable machinery and effective maintenance is another major factor supporting the lubricants market share growth.
  • Factors that may affect machine reliability are poor lubrication, contamination, fatigue, and poor fitting.
  • Proper lubrication at regular intervals will enhance machine reliability.
  • Adequate lubrication reduces unplanned downtime, makes better use of workers, lowers the cost of ownership for machinery, increases productivity as shutting down the equipment is not required, and reduces the cost of repairing machinery.

This 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.

Who are the Major 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.
  • Royal Dutch Shell Plc
  • TotalEnergies SE

 

This statistical study of the lubricants market encompasses successful business strategies deployed by the key vendors. The lubricants market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

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 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. 

Which are the Key Regions for Lubricants Market?

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

The high consumption of lubricants in industries such as automotive, construction, and refining will facilitate the 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.

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

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The lubricants market share growth by the mineral oil-based lubricants segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the lubricants market size and actionable market insights on post COVID-19 impact on each segment.

 

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 mn tons

Market structure

Fragmented

YoY growth (%)

2.21

Regional analysis

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

Companies profiled

BP Plc, Chevron Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., PetroChina Co. Ltd., 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 future consumer dynamics, market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Lubricants Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive lubricants market growth during the next five years
  • Precise estimation of the lubricants market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the lubricants industry across 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 lubricants market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Mineral oil-based lubricants - Market size and forecast 2020-2025
  • Synthetic lubricants - Market size and forecast 2020-2025
  • Bio-based lubricants - Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Automotive oils - Market size and forecast 2020-2025
  • Industrial oils - Market size and forecast 2020-2025
  • Process oils - Market size and forecast 2020-2025
  • Metalworking fluids - Market size and forecast 2020-2025
  • Greases - Market size and forecast 2020-2025
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BP Plc
  • Chevron Corp.
  • Exxon Mobil Corp.
  • FUCHS PETROLUB SE
  • Idemitsu Kosan Co. Ltd.
  • Indian Oil Corp. Ltd.
  • PetroChina Co. Ltd.
  • Royal Dutch Shell Plc
  • TotalEnergies SE

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • 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
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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
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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 lubricants market growth will increase by $1.77 million tons during 2019-2024.
The lubricants market is expected to grow at a CAGR of 0.93% during 2019-2024.
Technavio has segmented the lubricants 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., PetroChina Co. Ltd., Petroliam Nasional Berhad , Royal Dutch Shell Plc, Total SA, Valvoline Inc. are a few of the key vendors in the lubricants market.
APAC will register the highest growth rate of 59.89% among the other regions. Therefore, the lubricants 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 lubricants market growth are:
  • Increasing demand from end-user industries
The lubricants 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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