Lubricants Market Size Estimation, Current Industry Status, Growth Opportunities, Top Key Players, Target Audience and Forecast to 2023

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Lubricants Market Research Report - Forecast to
2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Lubricants Market Research Report- Forecast to
2023
Lubricants Market - Overview
Lubricants are capable of decreasing heat, wear,
and friction when introduced as a film between
sold surfaces. They exhibit superior properties
such as corrosion protection, smooth functioning
of mechanical parts, and demulsibility, which
make them suitable for use in a wide application
such as construction, marine, industrial,
automotive, and others. Moreover, they are used
to achieve optimum efficiency, and always ensure
that everything from the main engine to secondary
equipment runs smoothly irrespective of the work
environment. Some of the prominent factors that
positively influence the growth of the lubricants
market are rising construction and building
activities in developing countries, increasing
consumer spending on passenger cars, and growing
consumption of bio-based lubricants. Furthermore,
growing consumer awareness regarding the harmful
effects of synthetic lubricants has shifted the
consumer influence towards bio-based lubricants.
Hence, increasing consumption of bio-based
lubricants is estimated to drive the overall
lubricant market over the estimated period.
Moreover, increasing population along with
increasing building construction activities are
driving the consumption of lubricants, which is
predicted to propel the growth of the market.
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Lubricants Market Research Report- Forecast to
2023
Segmental Analysis
The Global Lubricants Market is classified on
the basis of Type, Application and Region. Based
on the Type, the Lubricant Market is classified
as mineral oil, bio-based, and synthetic
lubricants. Based on the Application, the market
is categorized into industrial, automotive,
marine, construction, and others. Industrial
segment is further classified into metalworking
fluids, general industrial oils, process oils,
and industrial engine oils. Automotive segment is
categorized into gear oil, passenger vehicle
oils, heavy-duty engine oils, hydraulic
transmission fluids, and others. Based on the
Region, the market is categorized into Latin
America, North America, Asia Pacific, Europe, and
the Middle East Africa. View Full Press
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Lubricants Market Research Report- Forecast to
2023
Regional Outlook
Geographically, Lubricants Market is segmented
into five regions North America, Europe, Asia
Pacific, Latin America, and the Middle East and
Africa. Among the above-mentioned region, Asia
Pacific held the leading market share accounting
for approximately 35 of the total market share
in 2016. The Asia Pacific Lubricants Market is
classified into India, China, Japan, Australia,
Thailand, South Korea, Malaysia, Vietnam, and
others. Comparatively, China is expected to be
the largest lubricants market followed by Japan,
India, and South Korea owing to constant
industrialization and robust growth of numerous
end-use industries such as automotive and
construction. Furthermore, the governments of
developing countries such as India and Malaysia
have started initiatives such as Special Economic
Zone in India and Economic Transformation
Programs in Malaysia, which are estimated to
further drive the demand for lubricants during
the assessment period. The Asia Pacific holds
the largest market share followed by Europe,
which is trailed by North America. Europe and
North America estimated to account for a combined
market share of around 42 on account of the
concentration of large number of automotive,
marine, and industrial sector in these regions.
European countries such as Poland, Italy,
Germany, Russia, France, and U.K have dominated
the regional market due to the strong presence of
automotive manufacturers in this region. North
America is estimated to witness a moderate growth
during the forecast period on account of rising
onshore and offshore activities. The U.S. is
estimated to grow at a significant CAGR followed
by Canada due to the expansion of numerous
industries. The Latin American market is
estimated to register an average growth due to
the presence of automotive manufacturers,
specifically in Brazil, Mexico, and Argentina
along with rising purchasing power of the
consumer in this region. In the Middle East
Africa, numerous countries such as Qatar, Turkey,
Kuwait, the United Arab Emirates (UAE), and Saudi
Arabia are estimated to witness a moderate growth
on account of start-up of construction projects
such as airport, railroad network, and
residential building, which is likely to propel
the Lubricants Market growth over the estimated
period.
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Lubricants Market Research Report- Forecast to
2023
Major Players in this Research

• Lubricants Market Prominent Players
• Royal Dutch Shell PLC. (the Netherlands)
• Exxonmobil Corporation (U.S.)
• Chevron Corporation (U.S.)
• Total S.A. (France)
• Sinopec Lubricant Company (China)
• Petrochina Company Limited (China)
• BP PLC (UK)
• JXTG Group (Japan)
• Idemitsu Kosan Co. Ltd (Japan)
• FUCHS (Germany)
• PETRONAS (Malaysia)

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