Global Lubricants Market 2015-2019
Lubricants reduce friction between surfaces. They are usually in oily, semi-fluid, or solid state. Superior-quality lubricants possess various characteristics such as a high level of thermal stability, high boiling point, low freezing point, and high viscosity index. These features help it reduce friction between surfaces of machine parts and increase operational efficiency. There are several types of lubricants including engine oils, process oils, hydraulic fluids, turbine oils, tractor fluids, gear oils, and metal-working fluids. Lubricants can be classified into mineral-based, synthetic, and bio-based lubricants. These lubricants are used in various industries including Automotive, Industrial Machinery, Textile, Food and Beverages, Plastic, and Chemical industries.
TechNavio's analysts forecast the Global Lubricants market to grow at a CAGR of 2.3 percent over the period 2014-2019.
Covered in this Report
The Global Lubricants market can be segmented into four: Mineral-based, Oil-based, Synthetic, and Bio-based.
TechNavio's report, Global Lubricants Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Lubricants market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Lubricants Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Lubricants Market: BP plc, China National Petroleum Corp. (CNPC), Exxon Mobil Corp., Royal Dutch Shell plc and Saudi Aramco.
Other Prominent Vendors in the market are: Fuchs Petrolub, Gazprom, Idemitsu Kosan, JX Holdings, NK Lukoil, PetroChina, Petronas Chemicals Group Berhad, Sinopec and Total
Commenting on the report, an analyst from TechNavio’s team said: “One of the major trends emergiung in this market is the development of environmentally friendly lubricants. Bio-based lubricants leave minimal trace in the environment, thus preventing toxicity and bioaccumulation. Many vendors are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts on the environment.”
According to the report, the Global Lubricants market is mainly driven by increased demand from the automotive industry, the largest end-user for lubricants. The use of lubricants increases the performance and fuel efficiency of a vehicle. Lubricants are used for smoothening the movement of the moving parts of a vehicle.
Further, the report states that negative impact of lubricants on the environment is one key growth inhibitor. Mineral oil-based lubricants contain toxic elements that take a long time to decompose. These lubricants are harmful to plants and wildlife ecosystems.
BP, China National Petroleum Corporation, Exxon Mobil, Royal Dutch Shell, Saudi Aramco , Fuchs Petrolub, Gazprom, Idemitsu Kosan, JX Holdings , NK Lukoil, PetroChina , Petronas Chemicals Group, Sinopec, Total
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook