Lubricants Market Size Worth USD 177.59 Billion in 2030

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Lubricants Market Size Worth USD 177.59 Billion
in 2030
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Increasing demand for cars and other automobiles
is a key factor driving lubricants market revenue
growth
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Our Model
Market Analysis
Financial Analysis
Distribution Channel Analysis
Brand Analysis
Custom Market Intelligence
Competitor Analysis
Product Analysis
Custom Research
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Demand Analysis
Risk Analysis
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Business Plan Parameters
End Use Analysis
Demand Availability Analytics
Market Entry Strategy
Restructuring Revival
New Product Strategy
Product Planning / Strategy
SWOT Analysis
Marketing / Distribution Channel Feasibility
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Customer Identification Survey
Competitive Landscape / MA Feasibility
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Industries We Cater to
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Market Summary
The global lubricants market size reached USD
129.81 Billion in 2021 and is expected to
register a revenue CAGR of 3.57 during the
forecast period, according to a latest analysis
by Emergen Research. Rising demand for
high-performance engines in the automotive
industry is a crucial factor driving revenue
growth of the market. Lubricants are solid,
semi-solid, or liquid substances used for
reducing friction among motional surfaces coming
in contact. It is extensively used in the
automotive and aerospace industries, where
lubricants are used in engines, gears, brakes,
clutches, motors, and others moving components.
The substance prevents formation of heat due to
friction, therefore avoiding heat-related wear
damages. Greases, for instance, are used in ball
bearing to increase performance of the component,
while maintaining near-normal temperatures.
Rising demand and production of vehicles is a
major factor in increasing demand for lubricants,
which is expected to contribute to the revenue
growth of the global lubricants market between
2022 and 2030.
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Market Summary
Key Highlights From The Report The industrial
lubrication segment accounted for moderate
revenue share in 2021. Processing industries,
especially the food and beverages industry,
cosmetic and pharmaceutical industries, and other
Fast-Moving Consumer Goods (FMCG) industries that
contain motional devices in their unit operations
regularly use lubricants for improving
performance of the devices, as well as to enhance
operational life. Various lubricants, including
oils, fluids, and greases are used in agitators,
exhausts, ball bearings, and conveyor belt
motors, which is increasing demand for lubricants
in industries, therefore boosting revenue growth
of this segment. The lubricants market in Europe
is expected to register a moderate revenue growth
rate between 2022 and 2030. Rising production and
demand for vehicles in countries in this region,
as well as increasing number of mergers and
acquisitions by major companies are some of the
key factors driving revenue growth in this
region. Report of the International Council on
Clean Transportation (ICCT) estimated that
Germany accounted for the largest vehicle market,
accounting for around 25 of the combined market
of the European Union and the U.K. Also, the
European Union was among the leading exporters of
lubricating oil additives, while Germany was
ranked second in the import of the product in
2021, with trade values of USD 2.05 billion and
USD 671 million, respectively. Some major
companies in the global market report include
Valvoline Inc., PetroChina Company Limited, Exxon
Mobil Corporation, JX Nippon Oil Gas
Exploration Corporation, Shell plc, British
Petroleum plc, Quaker Chemical Corporation, China
Petroleum Chemical Corporation, Chevron
Corporation, and TotalEnergies SE Request Free
Sample Copy_at_ https//www.emergenresearch.com/reque
st-sample/1224
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Market Summary
Emergen Research has segmented the global
lubricants market on the basis of base oil,
application, end-use, and region Base Oil
Outlook (Revenue, USD Billion Volume, Kilo Tons
2019-2030) Synthetic Oils Mineral Oils Bio-Based
Oils Application Outlook (Revenue, USD Billion
Volume, Kilo Tons 2019-2030) Industrial
Lubrication Gear and Engine Oil Brake
Fluids Greases Turbines Vacuum Pumps Others Read
More_at_ https//www.emergenresearch.com/industry-rep
ort/lubricants-market
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Parameter Details
Market Size Estimation Period 2020-2028
Base Year Considered 2020
Historical Data 2017-2019
Forecast Period 2021-2028
Quantitative Units Revenue in USD million CAGR from 2020 to 2028
Segments Covered Types, Application, End-Users, Regions more.
Countries Included The U.S., Germany, U.K., Italy, China, India, Japan, Brazil
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Regions Scope North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Customization Scope 10 hours of free customization expert consultation
Pricing and Purchase Options Explore Different Purchase Options Request for Discount to Avail New Year Discount
MARKET SEGMENTATION
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Regional Share Dynamics
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