Market Research Reports

Lubricants Market (By Product- Mineral oil, Synthetic and Bio-based) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020

83pages
Published Date: 2015-01-21

Description


Lubricants are very important for the proper functioning of a machine. The primary function of lubricants is to reduce friction, and wear & tear. Lubricants protect against sludge formation and residual deposition over mechanical parts. They are also used to transfer heat, as seals for gases, transmit power, and prevent rust and corrosion. Lubricants are manufactured from base oils. The desired properties are imparted to lubricants by blending base oils with various additives such as viscosity index improvers, dispersants, and detergents. Lubricant additives improve the functioning and lifespan of lubricants.

The global lubricants market study analyzes the demand for lubricants and provides estimates and forecasts for the market in terms of consumption. In order to provide a holistic view, the market has been segmented on the basis of products and applications. The product segments of the global lubricants market included in the report are mineral oil, synthetic, and bio-based. Base oils used for manufacturing mineral oil lubricants are obtained from refining crude oil. Base oils are of various types: group I, group II, and group III. These base oils are distinct from each other in terms of sulfur content (%), viscosity index, and saturates (%). Group I base oil is the least processed base oil, and has the lowest quality. Hence, the finished lubricants containing group I base oils have low performance levels. Synthetic lubricants are synthesized under controlled conditions to instill desired properties in them. Bio-based lubricants are manufactured from animal and vegetable oils. They are the most expensive lubricants. Key application segments analyzed in the study include automotive oils, industrial oils, metalworking fluids, grease, and other lubricants. In this report, the data for various products and applications has been provided for the period 2013 – 2020. Market data has been provided on a regional level for North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW). The regions included in RoW are Latin America and Africa.
The report also includes value chain analysis of the market along with Porter’s Five Forces model. The value chain of the global lubricants market provides a glimpse of various raw material suppliers, downstream players, and distributors involved in the business as well as their interaction with the ultimate end users of the product. Porter’s Five Forces analysis helps in understanding the five major forces that affect the industry structure and profitability of the global lubricants market. The forces analyzed in the global lubricants market report include bargaining power of suppliers, bargaining power of buyers, threat from new entrants, degree of competition, and threat from substitutes. The company market share analysis provides a comprehensive competitive landscape. The report analyzes the market attractiveness by product type. The market attractiveness analysis, by product, involves benchmarking and ranking of each product segment on the basis of numerous parameters. The parameters selected are likely to have a prominent effect on the demand for each type of lubricants during the forecast period.

Key players in the global lubricants market include Royal Dutch Shell plc., BP p.l.c., Total S.A., Chevron Corporation, Lukoil Oil Company, Fuchs Petrolub SE, Idemitsu Kosan Co., Ltd., PetroChina Company Limited, Sinopec Limited, and ExxonMobil Corporation. Some of the major companies such as Royal Dutch Shell Plc. and Exxon Mobil Corporation have a presence across the value chain of the global lubricants market. The report provides an overview of these companies along with their financial details (subject to availability), business strategy, and recent developments.

Lubricants Market: Product Segment Analysis
  • Mineral oil
  • Synthetic
  • Bio-based
Lubricants Market: Application Segment Analysis
  • Automotive oils
  • Industrial oils
  • Metalworking fluids
  • Grease
  • Others
Lubricants Market: Regional Analysis
  • North America
  • Europe
  • Asia Pacific
  • Middle East
  • RoW (Rest of the World)

Table of Contents



Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology

Chapter 2 Executive Summary

Chapter 3 Market Overview
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
      3.3.1 Increasing Industrialization in Asia Pacific
      3.3.2 Increasing Vehicle Count Augmenting the Market
3.4 Market Restraints
      3.4.1 Longer Engine Oil Drain Interval
      3.4.2 Advent of Hybrid-Electric Vehicles
3.5 Market Opportunities
      3.5.1 Environmental Regulations Provide Ample Opportunities to Bio-based Lubricants
3.6 Porter’s Five Forces Analysis
      3.6.1 Bargaining Power of Suppliers
      3.6.2 Bargaining Power of Buyers
      3.6.3 Threat of Substitutes
      3.6.4 Threat of New Entrants
      3.6.5 Degree of Competition
3.7 Market Attractiveness Analysis of Lubricants Market, by Product Segment (2013)
3.8 Company Market Share Analysis, 2013
      3.8.1 Global Lubricants Market, Company Market Share Analysis, 2013

Chapter 4 Lubricants Market – Product Segment Analysis
4.1 Lubricants Market: Product Segment Overview
      4.1.1 Global Lubricants Market Volume Share by Product, 2013 and 2020
4.2 Mineral Oil Lubricants
      4.2.1 Global Mineral Oil Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
4.3 Synthetic Lubricants
      4.3.1 Global Synthetic Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
4.4 Bio-based Lubricants
      4.4.1 Global Bio-based Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)

Chapter 5 Lubricants Market – Application Segment Analysis
5.1 Lubricants Market: Application Segment Overview
      5.1.1 Global Lubricants Market, Volume Share, by Application, 2013 and 2020
5.2 Automotive Oils
      5.2.1 Global Automotive Oils Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
5.3 Industrial Oils
      5.3.1 Global Industrial Oils Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
5.4 Grease
      5.4.1 Global Grease Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
5.5 Metalworking Fluids (MWF)
      5.5.1 Global MWF Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
5.6 Other Lubricants
      5.6.1 Global Other Lubricants Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)

Chapter 6 Lubricants Market: Regional Analysis
6.1 Global Lubricants Market: Regional Analysis
      6.1.1 Global Lubricants Market, Volume Share, by Geography, 2013 and 2020
6.2 North America
      6.2.1 North America Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
      6.2.2 North America Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
      6.2.3 North America Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
      6.2.4 North America Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
6.3 Europe
      6.3.1 Europe Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
      6.3.2 Europe Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
      6.3.3 Europe Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
      6.3.4 Europe Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
6.4 Asia Pacific
      6.4.1 Asia Pacific Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
      6.4.2 Asia Pacific Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
      6.4.3 Asia Pacific Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
      6.4.4 Asia Pacific Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
6.5 Middle East
      6.5.1 Middle East Lubricants Market Estimates and Forecast by Volume and Revenue, 2013 – 2020 (Kilo Tons)(USD Billion)
      6.5.2 Middle East Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
      6.5.3 Middle East Lubricants Market, by Product, by Revenue, 2013–2020 (USD Revenue)
      6.5.4 Middle East Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
6.6 Rest of the World (RoW)
      6.6.1 RoW Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
      6.6.2 RoW Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
      6.6.3 RoW Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
      6.6.4 RoW Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)

Chapter 7 Company Profiles
7.1 BP p.l.c.
      7.1.1 Company overview
      7.1.2 Financial overview
      7.1.3 Business strategy
      7.1.4 Recent developments
7.2 Chevron Corporation
      7.2.1 Company overview
      7.2.2 Financial overview
      7.2.3 Business strategy
      7.2.4 Recent developments
7.3 ExxonMobil Corporation
      7.3.1 Company overview
      7.3.2 Financial overview
      7.3.3 Business strategy
      7.3.4 Recent developments
7.4 Fuchs Petrolub SE
      7.4.1 Company overview
      7.4.2 Financial overview
      7.4.3 Business strategy
      7.4.4 Recent developments
7.5 Idemitsu Kosan Co., Ltd.
      7.5.1 Company overview
      7.5.2 Financial overview
      7.5.3 Business strategy
      7.5.4 Recent development
7.6 Lukoil Oil Company
      7.6.1 Company overview
      7.6.2 Financial overview
      7.6.3 Business strategy
      7.6.4 Recent developments
7.7 PetroChina Company Limited
      7.7.1 Company overview
      7.7.2 Financial overview
      7.7.3 Business strategy
      7.7.4 Recent developments
7.8 Royal Dutch Shell Plc
      7.8.1 Company overview
      7.8.2 Financial overview
      7.8.3 Business strategy
      7.8.4 Recent developments
7.9 Sinopec Limited
      7.9.1 Company overview
      7.9.2 Financial overview
      7.9.3 Business strategy
      7.9.4 Recent developments
7.10 Total S.A.
      7.10.1 Company overview
      7.10.2 Financial overview
      7.10.3 Business strategy
      7.10.4 Recent developments

List of Figures

FIG. 1 Global Lubricants Market, by Volume and Revenue, 2013 – 2020 (Kilo Tons)(USD Billion)
FIG. 2 Value Chain Analysis
FIG. 3 Porter’s Five Forces Analysis
FIG. 4 Market Attractiveness Analysis of Lubricants Market, by Product Segment (2013)
FIG. 5 Company Market Share of Lubricants Market, 2013
FIG. 6 Global Lubricants Market Volume Share, by Product, 2013 and 2020
FIG. 7 Global Mineral Oil Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
FIG. 8 Global Synthetic Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
FIG. 9 Global Bio-based Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
FIG. 10 Global Lubricants Market, Volume Share, by Application, 2013 and 2020
FIG. 11 Global Automotive Oils Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
FIG. 12 Global Industrial Oils Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
FIG. 13 Global Grease Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
FIG. 14 Global MWF Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
FIG. 15 Global Other Lubricants Market Estimates and Forecast by Volume, 2013–2020 (Kilo Tons)
FIG. 16 Global Lubricants Market ,Volume Share, by Geography, 2013 and 2020
FIG. 17 North America Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
FIG. 18 Europe Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
FIG. 19 Asia Pacific Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)
FIG. 20 Middle East Lubricants Market Estimates and Forecast by Volume and Revenue, 2013 – 2020 (Kilo Tons)(USD Billion)
FIG. 21 RoW Lubricants Market Estimates and Forecast by Volume and Revenue, 2013–2020 (Kilo Tons)(USD Billion)

List of Table

TABLE 1 Global Lubricants Market Snapshot
TABLE 2 Drivers for Global Lubricants Market: Impact Analysis
TABLE 3 Restraints of Global Lubricants Market: Impact Analysis
TABLE 4 North America Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
TABLE 5 North America Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
TABLE 6 North America Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
TABLE 7 Europe Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
TABLE 8 Europe Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
TABLE 9 Europe Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
TABLE 10 Asia Pacific Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
TABLE 11 Asia Pacific Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
TABLE 12 Asia Pacific Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
TABLE 13 Middle East Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
TABLE 14 Middle East Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
TABLE 15 Middle East Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)
TABLE 16 RoW Lubricants Market, by Product, by Volume, 2013–2020 (Kilo Tons)
TABLE 17 RoW Lubricants Market, by Product, by Revenue, 2013–2020 (USD Billion)
TABLE 18 RoW Lubricants Market, by Application, by Volume, 2013–2020 (Kilo Tons)

Free Market Analysis


The global lubricants market is primarily driven by increasing number of passenger cars and infrastructure development in emerging nations. North America and Europe are mature markets for lubricants and thus demand for lubricants in these regions is anticipated to be sluggish in the next few years. North America and Europe have been employing superior quality lubricants due to stringent environment regulations in these regions coupled with a better engine technology offered by various original equipment manufacturers (OEMs). Fuel economy is another factor that has created a demand for superior quality lubricants in theese regions. The use of high quality lubricants is less in Asia Pacific and the Middle East. However, changing emission regulations in these regions are compelling OEMs to provide a better engine technology, which is compatible with superior quality lubricants. This is expected to boost the demand for synthetic lubricants in Asia Pacific and the Middle East during the forecast period.

Lubricant is the vital element for efficient functioning of machinery. Lubricants perform various functions such as minimize wear & tear, act as coolants, prevent sludge formation, and reduce friction. The use of appropriate lubricants prolongs the lifespan of a machine. Lubricants are manufactured by blending base oils with additives. The performance of lubricants depends on the base oils and additives used. The global lubricants market is segmented on the basis of product type into mineral oil, synthetic, and bio-based. Synthetic lubricants are high performance lubricants compared to mineral oil and bio-based lubricants. This is due to the controlled synthesis of the base oil used in synthetic lubricants. Bio-based lubricants are bio-degradable in nature, making them environment-friendly. Hence, disposal of these lubricants after use does not raise any environmental concerns.

Mineral oil was the dominant product segment of the global lubricants market in 2013. The segment is expected to continue to hold its dominant position during the forecast period. Higher market share of mineral oil lubricants is due to their lower price compared to synthetic and bio-based lubricants. The bio-based lubricants market is growing due to the government regulations mandating the use of bio-based lubricants in certain applications.

Key application segments of the global lubricants market are automotive oils, industrial oils, metalworking fluids, grease, and other lubricants. In 2013, the automotive oils segment dominated the global lubricants market. Growth in the automotive oils segment is driven by an increase in the sale of passenger vehicles and rising demand from various construction vehicles. The grease segment is hindered by the use of superior quality of grease, which has a longer life. Thus, the use of superior quality grease decreases the overall consumption of grease.

The global lubricants market is dominated by a few players, making it difficult for new players to enter the market. High investments are required to setup a production facility, and for research and development activities. Moreover, a new player requires a strong distribution network to survive in the market. Some of the key players in the lubricants market include Royal Dutch Shell plc., Total S.A., Chevron Corporation, Exxon Mobil Corporation, BP p.l.c., PetroChina Company Limited, and Sinopec Limited. Lubricant manufacturing companies are expanding their production capacities and distribution network in developing countries, wherein demand for lubricants is increasing due to rising vehicle count. In regions such as Africa, top MNCs are aggressively expanding their retail network to capture market share in the region.

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