Global Automotive Lubricant Market 2015-2019
About Automotive Lubricants
Lubricants are materials used to reduce friction between two surfaces of equipment or components. They are usually in oil, semi-fluid, or solid state. Automotive lubricants include fluids such as engine oil, transmission fluid, gear oil, and brake oil. These are used to reduce the friction between the surfaces in contact, consequently improving the efficiency of the automotive components such as engines, brakes, and gears. These lubricants also help in removing the unwanted particles that cause disruptions in the functioning of the automotive parts. Lubricants are formed by adding additives into a base oil. These base oils can be either mineral oil-based, synthetic-oil based, or bio-based. Advances in technology have led lubricant manufacturers to develop new lubricants with longer replacement cycles.
Technavio's analysts forecast the global automotive lubricant market to grow at a CAGR of 2.77% during 2014-2019.
Covered in this Report
The global automotive lubricant market can be segmented into the following:
Technavio Announces the Publication of its Research Report – Global Automotive Lubricant Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Automotive Lubricant Market: BP, Chevron, Exxon Mobil, Royal Dutch Shell, Sinopec and Total
Other Prominent Vendors in the market are: AMSOIL, Bharat Petroleum, Blue Star Lubrication Technology, FUCHS Schmierstoffe, GS Caltex, Guangdong Delian Group, Gulf Oil Middle East, Hindustan Petroleum, Indian Oil, JX Nippon Oil & Energy, Motul, PETRONAS Lubricants International, Phillips 66 Lubricants, Robert Bosch (Bosch Auto Parts) and Tide Water Oil
Commenting on the report, an analyst from Technavio’s team said: “A growing middle class with improved purchasing power, rapid industrialization, and better infrastructure has led to strong developments in vehicle production and sales in emerging markets. China, India, Thailand, Malaysia, and Indonesia, are some of the leading consumers of automotive lubricants in APAC. Improvements in the economic conditions of emerging countries have changed the financial status of consumers in those countries, in turn increasing the demand for and production of automobiles. Also, the growing demand for LCVs in these countries is a major factor boosting the growth of the global automotive lubricant market.”
According to the report, used lubricant is hazardous for humans, animals, and the environment. Increased environmental awareness, rising health concerns, and a growing need for sustainability is leading to increased demand for re-refined automotive lubricant. The re-refining of automotive lubricants or used oil benefits manufacturers and service centers by providing a cost-effective option and conserving natural resources such as crude oil.
Further, the report states that constant fluctuations in the price of crude oil used in the manufacture of automotive lubricants have a major impact on the profits of lubricant manufacturers.
BP, Chevron, Exxon Mobil, Royal Dutch Shell, Sinopec, Total, AMSOIL, Bharat Petroleum, Blue Star Lubrication Technology, FUCHS Schmierstoffe, GS Caltex, Guangdong Delian Group, Gulf Oil Middle East, Hindustan Petroleum, Indian Oil, JX Nippon Oil & Energy, Motul, PETRONAS Lubricants International, Phillips 66 Lubricants, Robert Bosch (Bosch Auto Parts), Tide Water Oil