Turbine Oil Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, Saudi Arabia, China, India, Germany - Size and Forecast 2024-2028

Published: Jan 2024 Pages: 164 SKU: IRTNTR44849

Turbine Oil Market Forecast 2024-2028

The turbine oil market size is forecast to increase by USD 630.89 million at a CAGR of 8% between 2023 and 2028.  The growing demand for combined-cycle power plants (CCPP) reflects a shift towards more efficient and environmentally friendly power generation. The development of biolubricants aligns with the increasing focus on sustainable and renewable solutions across industries. The emergence of new power plants indicates a dynamic market driven by technological advancements and evolving energy needs. CCPPs offer higher efficiency and lower emissions compared to traditional power plants, making them a favorable choice for meeting energy demands. The development of biolubricants signifies a move towards eco-friendly alternatives driven by regulations and sustainability goals. The emergence of new power plants underscores the continuous evolution of the energy sector to meet growing global energy needs.

Market Overview

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Market Segmentation

This report provides a detailed analysis of the market by Product (Mineral oil-based lubricants and Synthetic oil-based lubricants) and Geography (APAC, Europe, North America, MEA, and South America).

By Product Type 

The mineral oil segment is estimated to witness significant growth during the forecast period. Mineral oil-based lubricants are often more affordable compared to synthetic or bio-based alternatives. This cost-effectiveness makes them attractive, especially in industries with high lubricant consumption, such as automotive, manufacturing, and heavy machinery. Mineral oil-based lubricants can be suitable for a wide range of applications, such as general machinery, hydraulics, and gear systems. 

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Further, their versatility makes them a preferred choice in various industries. These lubricants have been in use for a long time and are widely available. Many industries are accustomed to using them, and their familiarity often leads to continued demand. Companies in the lubricant industry are continuously innovating to create environmentally friendly alternatives that offer comparable or better performance. As environmental regulations become more stringent and sustainability gains importance, there might be a shift towards eco-friendly lubricants, but the demand for mineral oil-based lubricants is likely to remain significant in the foreseeable future, especially in applications where their properties are well-suited, which may accelerate the growth of the market in focus during the forecast period.

By Region

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APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and analysis and drivers that shape the market during the forecast period. The market growth analysis potential of the market in APAC is immense, especially in developing countries such as India and China. These emerging economies need efficient and reliable power to sustain their economic growth as well as protect the environment. This has led to the use of technologies such as combined-cycle gas turbines (CCGT) to curb carbon emissions and produce cleaner power compared with coal-powered plants. The increased demand for gas turbines is expected to drive the growth of the regional market. APAC countries are also investing significantly in renewable energy sources like wind and solar power. These renewable energy systems often utilize turbines, creating another avenue for the use of turbine oils.

In addition, the energy sector in APAC, particularly in countries like China and India, is witnessing substantial market growth and trends with the construction of new power plants and the expansion of existing ones. Turbines, crucial components in these power generation facilities, drive the demand, which will fuel the growth of the regional market in focus during the forecast period.

Market Dynamics and Customer Landscape

The market is influenced by economies, energy consumption patterns, and the development of emerging regions compared to developed ones. The industry focuses on turbine lubricating oils, including mineral-based and biobased variants. External contamination and oxidation products are key concerns. Market growth is driven by wind energy investments, supportive government initiatives, and global demand for renewable energy, aligning with policies like Nationally Determined Contributions (NDCs) and Sustainable Development Goals (SDGs). The market also caters to hybrid vehicles, internal combustion engines, and electric motors. Factors affecting the market include gearbox and bearing failure, driving the need for advanced lubrication solutions. Major players in the market provide turbine oils with oxidation inhibitors, corrosion inhibitors, defoamants, and demulsifiers to ensure optimal performance.

Key Market Driver 

An increase in global electricity demand is notably driving the market growth. As countries continue to expand their economies, industries, and infrastructure, the need for reliable and efficient power generation becomes paramount. Turbine oils are fundamental in ensuring the smooth operation and longevity of turbines used in power plants. Gas turbines, for instance, are widely used in combined cycle power plants for electricity generation, and steam turbines are commonly employed in thermal power plants. The turbine oil industry plays a crucial role in providing turbine lubricating oils, including mineral-based lubricants and biobased turbine oils, to ensure the longevity of turbines. Challenges such as external contamination and oxidation products highlight the need for continuous innovation in this sector.

Additionally, wind energy investment and supportive government initiatives and legislation further drive the growth of the turbine oil industry. This demand necessitates the installation and operation of turbines in various settings, further boosting the need for turbine oils, which will positively impact the growth of the global market in focus during the forecast period.

Significant Market Trends 

The emergence of new power plants is an emerging trend shaping the market growth. Turbines are significantly deployed in gas-fired power generation plants where an internal combustion engine is placed. The rising number of power plant infrastructure projects across the world is a major factor in increasing the number of turbines, in turn, influencing the demand for turbine oil. China and India are some of the prominent countries in power infrastructure. These countries are making significant investments in power plant infrastructure development.

Moreover, m power plants are also gaining popularity across various countries. The increasing efficiency and durability of mobile power plants are one of the factors driving their demand. This, in turn, is driving the demand for mobile gas turbines. Many government organizations are synchronizing mobile power plants in their electricity operations.  Hence, these factors can accelerate the growth momentum of the market during the forecast period.

Major Challenges 

The slowdown of the marine industry is a significant challenge hindering the market growth. The market is dependent on the marine shipping business for its sustenance. The marine shipping business, in turn, is dependent on the global economy for its existence. In times of strong macroeconomic numbers, the global appetite for the consumption of goods increases, thereby increasing the demand for marine shipping businesses to transport these goods from producers to consumers. However, the number of impediments to this growth is increasing in the current economic scenario, which might hamper the expansion of the global economy and affect the bunker oil market growth and forecasting. 

However, the slowdown in the marine industry is posing a challenge for the market. This slowdown is due to a fall in freights and the movement of shipbuilders toward cost-cutting measures that will impact its maintenance budgets, thus impacting the maintenance costs of lubricant oils. The shipping industry is facing one of the toughest times in its history due to rapid expansion that is fueled by a low rate of debt and China economic slowdown. Therefore, the slowdown in the marine industry will pose a challenge for the market during the market forecast period.

Key Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market research and growth strategies.

Customer Landscape

Key Market Players 

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

Apar Industries Ltd. - The company offers turbine oil such as POWEROIL Turbo AW, POWEROIL Turbo Super AW and POWEROIL Turbo.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • Axel Christiernsson International AB
  • Behran Oil Co.
  • Castrol Ltd.
  • Chevron Corp.
  • CHS Inc.
  • Eastman Chemical Co.
  • Eni SpA
  • FUCHS PETROLUB SE
  • Growmark Inc.
  • Hindustan Petroleum Corp. Ltd.
  • Lubrication Engineers Inc.
  • Matrix Specialty Lubricants BV
  • Miguez Fuel and Lubricants
  • Petroleos de Venezuela SA
  • Phillips 66
  • Pure Lubricants Chennai Pvt. Ltd.
  • Savita Oil Technologies Ltd.
  • Shell plc
  • Sinopec Shanghai Petrochemical Co. Ltd.

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.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028

  • Product Type Outlook
    • Mineral oil
    • Synthetic oil
  • Application Outlook
    • Steam turbine
    • Gas turbine
    • Others
  • Region Outlook
    • North America
      • The U.S.
      • Canada
    • South America
      • Chile
      • Brazil
      • Argentina 
    • 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

Market Analyst Overview

The market is influenced by the shift from internal combustion engines (ICE) to electric motors in various sectors. Achieving battery parity is crucial for sustainable growth. The market's volume is impacted by the adoption of wind turbines, hydroelectric, and tidal power generation. Turbine oil manufacturers focus on developing oils with excellent water-separating properties for use in aerospace and gas turbine engines. The aviation sector, including aircraft gas turbine engines, demands oils with high viscosity, anti-corrosion, and stability against oxidation. Despite rising operational and maintenance costs, the market is driven by the demand for fuel-efficient aircraft and new energy vehicles.

The market is influenced by various factors in both emerging and developed parts of the world. Policy interventions drive the transition from Internal Combustion Engines (ICE) to Electric Motors, impacting the market's volume. The demand for turbine oil is significant in hydroelectric power generation and the aerospace industry, particularly in propulsion systems and bearings. Rising air traffic and the demand for fuel-efficient aircraft, especially in the airline sector and commercial airplanes, are key drivers. However, challenges such as rising operational and maintenance costs, shortage of capacity, and lack of technologies impact the market.

Market Scope

Report Coverage

Details

Page number

164

Base year

2023

Historic period

 2018-2022

Market forecasting period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8%

Market Growth 2024-2028

USD 630.89 million

Market structure

Fragmented

YoY growth 2023-2024(%)

6.8

Regional analysis

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

Performing market contribution

APAC at 57%

Key countries

US, Saudi Arabia, China, India, and Germany

Competitive landscape

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

Key companies profiled

Apar Industries Ltd., Axel Christiernsson International AB, Behran Oil Co., Castrol Ltd., Chevron Corp., CHS Inc., Eastman Chemical Co., Eni SpA, FUCHS PETROLUB SE, Growmark Inc., Hindustan Petroleum Corp. Ltd., Lubrication Engineers Inc., Matrix Specialty Lubricants BV, Miguez Fuel and Lubricants, Petroleos de Venezuela SA, Phillips 66, Pure Lubricants Chennai Pvt. Ltd., Savita Oil Technologies Ltd., Shell plc, Sinopec Shanghai Petrochemical Co. Ltd., Tide Water Oil Co. India Ltd., and Valvoline Inc.

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 the 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 Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation 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
  • Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

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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 Product Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • 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 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global turbine oil market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global turbine oil market 2018 - 2022 ($ million)
    • 4.2 Product Type Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Product Type Segment 2018 - 2022 ($ million)
    • 4.3 Application Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Application Segment 2018 - 2022 ($ million)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ million)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Product Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Product Type - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Product Type - Market share 2023-2028 (%)
    • 6.2 Comparison by Product Type
      • Exhibit 32: Chart on Comparison by Product Type
      • Exhibit 33: Data Table on Comparison by Product Type
    • 6.3 Mineral oil - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Mineral oil - Market size and forecast 2023-2028 ($ million)
      • Exhibit 35: Data Table on Mineral oil - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Chart on Mineral oil - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Mineral oil - Year-over-year growth 2023-2028 (%)
    • 6.4 Synthetic oil - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Synthetic oil - Market size and forecast 2023-2028 ($ million)
      • Exhibit 39: Data Table on Synthetic oil - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Chart on Synthetic oil - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Synthetic oil - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Product Type
      • Exhibit 42: Market opportunity by Product Type ($ million)
      • Exhibit 43: Data Table on Market opportunity by Product Type ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 44: Chart on Application - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on Application - Market share 2023-2028 (%)
    • 7.2 Comparison by Application
      • Exhibit 46: Chart on Comparison by Application
      • Exhibit 47: Data Table on Comparison by Application
    • 7.3 Steam turbine - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Steam turbine - Market size and forecast 2023-2028 ($ million)
      • Exhibit 49: Data Table on Steam turbine - Market size and forecast 2023-2028 ($ million)
      • Exhibit 50: Chart on Steam turbine - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Steam turbine - Year-over-year growth 2023-2028 (%)
    • 7.4 Gas turbine - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Gas turbine - Market size and forecast 2023-2028 ($ million)
      • Exhibit 53: Data Table on Gas turbine - Market size and forecast 2023-2028 ($ million)
      • Exhibit 54: Chart on Gas turbine - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Gas turbine - Year-over-year growth 2023-2028 (%)
    • 7.5 Others - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 57: Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 58: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.6 Market opportunity by Application
      • Exhibit 60: Market opportunity by Application ($ million)
      • Exhibit 61: Data Table on Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 63: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 64: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 65: Chart on Geographic comparison
      • Exhibit 66: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ million)
      • Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
      • Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ million)
      • Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.7 South America - Market size and forecast 2023-2028
      • Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ million)
      • Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ million)
      • Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 India - Market size and forecast 2023-2028
      • Exhibit 91: Chart on India - Market size and forecast 2023-2028 ($ million)
      • Exhibit 92: Data Table on India - Market size and forecast 2023-2028 ($ million)
      • Exhibit 93: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.10 US - Market size and forecast 2023-2028
      • Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.11 Germany - Market size and forecast 2023-2028
      • Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ million)
      • Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
      • Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • 9.12 Saudi Arabia - Market size and forecast 2023-2028
      • Exhibit 103: Chart on Saudi Arabia - Market size and forecast 2023-2028 ($ million)
      • Exhibit 104: Data Table on Saudi Arabia - Market size and forecast 2023-2028 ($ million)
      • Exhibit 105: Chart on Saudi Arabia - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on Saudi Arabia - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 107: Market opportunity by geography ($ million)
      • Exhibit 108: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 109: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 111: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 112: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 113: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 114: Matrix on vendor position and classification
            • 12.3 Apar Industries Ltd.
              • Exhibit 115: Apar Industries Ltd. - Overview
              • Exhibit 116: Apar Industries Ltd. - Business segments
              • Exhibit 117: Apar Industries Ltd. - Key offerings
              • Exhibit 118: Apar Industries Ltd. - Segment focus
            • 12.4 Axel Christiernsson International AB
              • Exhibit 119: Axel Christiernsson International AB - Overview
              • Exhibit 120: Axel Christiernsson International AB - Product / Service
              • Exhibit 121: Axel Christiernsson International AB - Key offerings
            • 12.5 Castrol Ltd.
              • Exhibit 122: Castrol Ltd. - Overview
              • Exhibit 123: Castrol Ltd. - Product / Service
              • Exhibit 124: Castrol Ltd. - Key offerings
            • 12.6 Chevron Corp.
              • Exhibit 125: Chevron Corp. - Overview
              • Exhibit 126: Chevron Corp. - Business segments
              • Exhibit 127: Chevron Corp. - Key news
              • Exhibit 128: Chevron Corp. - Key offerings
              • Exhibit 129: Chevron Corp. - Segment focus
            • 12.7 CHS Inc.
              • Exhibit 130: CHS Inc. - Overview
              • Exhibit 131: CHS Inc. - Business segments
              • Exhibit 132: CHS Inc. - Key offerings
              • Exhibit 133: CHS Inc. - Segment focus
            • 12.8 Eastman Chemical Co.
              • Exhibit 134: Eastman Chemical Co. - Overview
              • Exhibit 135: Eastman Chemical Co. - Business segments
              • Exhibit 136: Eastman Chemical Co. - Key offerings
              • Exhibit 137: Eastman Chemical Co. - Segment focus
            • 12.9 Eni SpA
              • Exhibit 138: Eni SpA - Overview
              • Exhibit 139: Eni SpA - Business segments
              • Exhibit 140: Eni SpA - Key offerings
              • Exhibit 141: Eni SpA - Segment focus
            • 12.10 FUCHS PETROLUB SE
              • Exhibit 142: FUCHS PETROLUB SE - Overview
              • Exhibit 143: FUCHS PETROLUB SE - Business segments
              • Exhibit 144: FUCHS PETROLUB SE - Key news
              • Exhibit 145: FUCHS PETROLUB SE - Key offerings
              • Exhibit 146: FUCHS PETROLUB SE - Segment focus
            • 12.11 Growmark Inc.
              • Exhibit 147: Growmark Inc. - Overview
              • Exhibit 148: Growmark Inc. - Product / Service
              • Exhibit 149: Growmark Inc. - Key offerings
            • 12.12 Matrix Specialty Lubricants BV
              • Exhibit 150: Matrix Specialty Lubricants BV - Overview
              • Exhibit 151: Matrix Specialty Lubricants BV - Product / Service
              • Exhibit 152: Matrix Specialty Lubricants BV - Key offerings
            • 12.13 Petroleos de Venezuela SA
              • Exhibit 153: Petroleos de Venezuela SA - Overview
              • Exhibit 154: Petroleos de Venezuela SA - Product / Service
              • Exhibit 155: Petroleos de Venezuela SA - Key offerings
            • 12.14 Phillips 66
              • Exhibit 156: Phillips 66 - Overview
              • Exhibit 157: Phillips 66 - Business segments
              • Exhibit 158: Phillips 66 - Key offerings
              • Exhibit 159: Phillips 66 - Segment focus
            • 12.15 Shell plc
              • Exhibit 160: Shell plc - Overview
              • Exhibit 161: Shell plc - Business segments
              • Exhibit 162: Shell plc - Key offerings
              • Exhibit 163: Shell plc - Segment focus
            • 12.16 Sinopec Shanghai Petrochemical Co. Ltd.
              • Exhibit 164: Sinopec Shanghai Petrochemical Co. Ltd. - Overview
              • Exhibit 165: Sinopec Shanghai Petrochemical Co. Ltd. - Business segments
              • Exhibit 166: Sinopec Shanghai Petrochemical Co. Ltd. - Key news
              • Exhibit 167: Sinopec Shanghai Petrochemical Co. Ltd. - Key offerings
              • Exhibit 168: Sinopec Shanghai Petrochemical Co. Ltd. - Segment focus
            • 12.17 Valvoline Inc.
              • Exhibit 169: Valvoline Inc. - Overview
              • Exhibit 170: Valvoline Inc. - Product / Service
              • Exhibit 171: Valvoline Inc. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 172: Inclusions checklist
                • Exhibit 173: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 174: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 175: Research methodology
                • Exhibit 176: Validation techniques employed for market sizing
                • Exhibit 177: Information sources
              • 13.5 List of abbreviations
                • Exhibit 178: 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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