Press release
Lubricants Market Global Industry Analysis, Growth, Trends and Forecast 2025 |ExxonMobil, Royal Dutch Shell, Chevron Corporation, BP PLC, Total S.A., Idemitsu Kosan Co. Ltd., Petrochina Company Limited, and Fuchs Petrolub AG
The global lubricants market size is expected to expand over USD 21 billion by 2025. Lubricant is employed between the surfaces to reduce the friction when they come in contact with each other. It exhibits anti-wear and antifoaming properties, which in turn has contributed to its application across a wide range of industries including mining, agriculture, automotive, and manufacturing. Over the years, the consistent growth across these industries have upheld the product demand.Request a sample of this report @ https://www.adroitmarketresearch.com/contacts/request-sample/42
Rising power generation capacity across emerging nations which utilize heavy machinery including turbines, generators has significantly contributed in the product demand. Ongoing growth across the aircraft industry to develop a high performance engine is complementing the industry landscape. Furthermore, ongoing boost across automobile industry and chemical industry will further proliferate the business landscape in the coming years.
The report also throws light on various aspects of the global lubricants industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the Lubricants industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The lubricants market holds a strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
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The lubricants market is categorized into heavy equipment, power generation, food & beverages, automotive, chemical, metallurgy, and others on the basis of application. The automotive segment is expected to expand at a growth rate of around 3% over the forecast period on account of its rising adoption. The shifting focus toward high performance vehicle is expected to catapult the segment growth over the forecast timeframe.
North America is expected to gain significant growth in the coming years. The region is characterized by escalated demand from end-user industries including healthcare, textiles, packaging, and household, which is contributing in the product demand. Furthermore, rising awareness to limit the negative impact on the environment along with the growing adoption of bio-fuels to run machinery will drive the industry share over the forecast timeline.
The major players operating across the global Lubricants market include ExxonMobil, Royal Dutch Shell, Chevron Corporation, BP PLC, Total S.A., Idemitsu Kosan Co. Ltd., Petrochina Company Limited, and Fuchs Petrolub AG, including others. The industry for lubricants is integrated with the participation of established global players across the globe. In addition, these companies are focusing on expanding their footprint through implementation of inorganic as well as organic strategies which in turn is proliferating the business outlook.
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Segment overview of Lubricants market
Base Oil Overview, 2018-2025, (USD Billion and kilotons)
Mineral Oil
Bio-Based Oil
Synthetic Oil
Product Type Overview, 2018-2025, (USD Billion and kilotons)
Hydraulic Fluid
Metalworking Fluid
Engine Oil
Grease
Process Oil
Gear Oil
End-Use Industry Overview, 2018-2025, (USD Billion and kilotons)
Heavy Equipment
Power Generation
Food & Beverages
Automotive
Chemical
Metallurgy
Others
Regional Overview, 2018-2025, (USD Billion and kilotons)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
France
Rest of Europe
Asia Pacific
China
India
Japan
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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