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(I-AutoNewsWire.com, October 25, 2019 ) Market Overview:
Lubricants are materials that help reduce the friction between moving parts or surfaces to enhance the efficiency of machines. They are used in different applications ranging from automobiles to large multitudes of industries. This report covers factors impacting the market, Lubricants Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. The report profiles the major players of this market.
Growth in the automotive industry, increasing urbanization and harsh traffic conditions are favoring the growth of Lubricants Market.Passenger and commercial vehicles are the major consumers of lubricants. This is due to the rising vehicle production and improving standard of living in the developing nations.
Lubricants are segmented into groups based on the base oil category and depending on the percentages of the properties likesulfur, saturates viscosity index.
Based on the base stock into Bio-Based Lubricants, Mineral Oil Lubricants, Synthetic Lubricants, and Semi-synthetic Lubricants.
Based on Group into Group I, Group II, Group III, Group IV, and Group V.Group- I base oil occupies the major part with a market share of nearly 80%. These are solvent-refined, which is a more straightforward refining process and cheapest of base oils in the market. Current production of group I base oil constitutes 46% of the total output of mineral oils.
Based on product type into Engine Oil, General Industrial Oils, Gear Oil, Greases, Metalworking Fluids, Process Oils, Transmission & Hydraulic FluidsandOthers.
Based on End-user industry into Automotive and Transportation, Chemical Manufacturing, Food & Beverage, Heavy Equipment, Metallurgy and Metal Working, Power Generation, and Others (Packaging, Oil & Gas (Drilling Fluids).
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Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
Asia-Pacific is a developing and continuously growing region with rapidly expanding Industrial and Automotive sectors. It is the leading consumer of lubricants with a demand of nearly 30% of the global production.
Some of the leading players of the market which include Total Oil Asia-Pacific Pte Ltd, Texas Petrochemical Asia Pacific Pte Ltd, Ro-Quip Asia Pacific Pte Ltd, Fuchs Lubricants India Pvt. Ltd, Paras Lubricants Limited.
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