The research study on the global lubricants market is designed to offer you insight into key questions about the future of the lubricants industry. This report enumerates all vital growth factors, inhibitors, innovative products that are on the horizon, as well as strategic initiatives of market players that matter. The lubricants market continues to remain dynamic because of its extensive array of applications. At the same time, it must contend with a number of regulatory issues and environmental concerns. What is the collective result of these push and pull factors? How should you align your strategies for a more predictable growth trajectory? This report answers all these questions and provides recommendations that will help you make more informed decisions.
The report begins with a detailed executive summary of the lubricants market and then touches upon each product and application by revenue, volume, and regional share. We study the lubricants market down to three levels to give you unmatched qualitative and quantitative insights.
Overview of the global lubricants market
The global lubricants market stands on the brink of unprecedented growth. Lubricants are used in a myriad of applications such as: automobiles, industrial machinery, hydraulic systems, engines, as well as gear boxes. Nearly each of these application segments is poised to chart a healthy growth graph in the near future, which undoubtedly proves favorable for the global lubricants market. However, it is now clear that the thriving automobile industry-especially in emerging economies-will propel the lubricants market to a great extent.
The lubricants market has been in a phase of resurgence following the global economic recession, which was a major blow to the automobile market, ultimately causing the lubricants market to suffer as well. But as the situation turns around with India and China taking a leading in reviving automobile sales, the lubricants market can expect a phase of growth ahead. Both of these countries have a GDP growth rate that is higher than the global average. Thus, from the regional growth standpoint, the highest growth for the lubricants market lies in Asia Pacific, with the Middle East and Africa taking second place.
On the other hand, the mature markets of North America and Europe will not see any drastic spike in lubricant sales. Here, the scope for innovation and environment-friendly lubricants is conspicuous. This promotes the use of group II and group III lubricants that are also known as high-value lubricants. That having been said, the lubricants market continues to remain susceptible to fluctuations in mineral oil prices. To mitigate these concerns, advances in bio-based lubricants are attracting substantial investment dollars.
As of 2013, the industrial lubricants segment was the largest in the global lubricants market, accounting for nearly 39% of the total volume market share. Until 2020, the segment of consumer automotive lubricants will be in a phase of healthy growth, showing a CAGR of 2.5% between 2014 and 2020.
Segmentation of the lubricants market
The lubricants market can be segmented by product type as: industrial, consumer automotive and commercial automotive. The industrial lubricants market is split further into general industrial oils, industrial engine oils, process oils, and metalworking fluids. Similarly, the commercial automotive lubricants market branches into gear oil, heavy-duty engine oil, grease, and hydraulic fluids. The consumer automotive lubricants market is comprised of segments such as grease, gear oil, automatic transmission fluid, and passenger vehicle engine oils.
This market research report analyzes the following geographies:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments