Lubricants Market Worth $167.5 Billion By 2027 On Accounts Of Rising Demands For Lubricants From End-Use Industries: Grand View Research Inc.

February 01 07:14 2021
Lubricants Market Worth $167.5 Billion By 2027 On Accounts Of Rising Demands For Lubricants From End-Use Industries: Grand View Research Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a recent report, published by Grand View Research Inc., the demand for lubricants is majorly driven by increase in demand from end-use industries particularly in the marine and aerospace domain. Also, the market growth is anticipated in a robust growth of revenue share in the forecast period.

The global lubricants market manufacturing sector has a direct impact on the demand for lubricants since it is widely used across numerous domain within the manufacturing sector. Apart, the commercial use encompass food and beverages, foundry, mining, paper and mill, metal forming, and machining.

Growing consumption in the aerospace industry is expected to augment its demand widely. Increase in demand for maintenance for commercial aircraft is anticipated to grow in the coming years. Apart, the rise in use of heavy and commercial automobiles is likely to encourage a significant market growth in the following years.  Rise in maintenance budgets, cost of advertising and emergence of eco-friendly products is expected to augment the market growth in the forecast period.

Environment regulations and norms have been effective in the past few years and this has encouraged the production of zero emission vehicles. This has also led in the the manufacturer recommendation for mineral oil with zero dispersants in the past few years. 

U.S. lubricants market size, by application, 2016 - 2027 (USD Billion)

Lubricants Market Report Highlights:

Aerospace led the market in terms of growth due to the rise in production of commercial aircraft. The production of aircraft is growing due to the increase in lavish lifestyles among middle class population across the globe.

Gas turbine oils are the most widely consumed aerospace lubricants with a share of 42.2% in terms of value in 2019. The oil allows faster piston ring seating and allows the accumulation of some advantageous deposits which lead to better oil loss control. These factors are expected to further boost product demand over the forecast period.

The global trade of lubricants is divided into three major blocks comprising of European chemical trade, ASEAN trade, and North America free trade area. The European and North American blocks account for around 40.0% of the overall trade.

Latin America is projected to formulate several trade strategies in order to attract Foreign Direct Investment (FDI) for the infrastructure development and is thus expected to witness a CAGR of 3.5% from 2020 to 2027.

Royal Dutch Shell leads the market with an overall share of 11.0% followed by Exxon Mobil Corporation with 9.7% market share. Currently, Royal Dutch Shell operates 5 base oil facilities, 40 blending facilities, and 10 grease plants.

“Would you Like/Try a Sample Report” Click the link below:https://www.grandviewresearch.com/industry-analysis/lubricants-market/request/rs1

Grand View Research has segmented the global lubricants market on the basis of application and region.

Lubricants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

Industrial

Process Oils

General Industrial Oils

Metalworking Fluids

Industrial Engine Oils

Greases

Others

Automotive

Engine Oil

0W-20

0W-30

0W-40

5W-20

5W-30

5W-40

10W-60

10W-40

15W-40

Others

Gear Oil

    Transmission Fluids

    Brake Fluids

    Coolants

    Greases

Marine

Engine oil

Hydraulic oil

Gear oil

Turbine oil

Greases

Others

Aerospace

Gas turbine oils

Piston engine oils

Hydraulic fluids

Others

Lubricants Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

North America

U.S

Canada

Mexico

Europe

Germany

U.K.

Russia

Switzerland

France

Asia Pacific

China

India

Japan

Latin America

Brazil

Argentina

Middle East & Africa

Saudi Arabia

List of Key Players of Lubricants Market

ExxonMobil Corporation

Royal Dutch Shell Co.

British Petroleum

Total S.A.

Chevron Corporation

Fuchs Group

Pennzoil

Amsoil Inc.

Philips 66 Company

Valvoline LLC

Have Any Query? Ask Our Experts for More Details on Report:https://www.grandviewresearch.com/inquiry/355/ibb

Browse Related Report @

Industrial Lubricants Market – https://www.grandviewresearch.com/industry-analysis/industrial-lubricants-market

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

 

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/lubricants-market


Warning: count(): Parameter must be an array or an object that implements Countable in /home/indoreonlinejour/haryanadaily.in/wp-content/themes/gadgetine-theme/includes/single/post-tags-categories.php on line 7