Automotive Engine Oil Market- Worldwide Industry Analysis and New Market Opportunities Explored

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Automotive Engine Oil Market Business Analysis,
Scope, Size, Overview, Growth Rate, Challenges
and Forecast 2024      
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The global automotive engine oil market witnessed
a significant growth during the past few years.
The rising disposable income, government
legislations for automotive engine oil, growing
automotive aftermarket and increase in demand
within automotive market are driving the growth
of the automotive engine oil market. The growing
vehicle sales and its production in developing
countries is an opportunity in the
market. Engine oils are oils that consist of
mineral and have synthetic base oil including
various additives. The quality of engine oil
depends on the base oil and its properties, as
well as on the additives. The main requirements
for automotive engine oil are protection against
wear and corrosion, keeping the engine clean and
yield strength under compression.
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Automotive engine oil when used for longer
duration, its viscosity index drops. Therefore,
to sustain the lubricating film between the
engine parts, it is important to protect
viscosity loss. The additives including
dispersants, friction modifiers, anti-wear
agents, antioxidants and pour-point depressants
are mixed in engine oil to improve its viscosity
index for longer usage time period. The global
automotive engine oil market is estimated to grow
during the forecast period at a high growth rate.
In 2015, North America was the largest market for
automotive engine oil due to the presence of
large number of motor vehicle in this region. It
is followed by Europe and Asia-Pacific. The
market is witnessing an escalating growth in Asia
Pacific region. China, in recent years, has
become the global hub for the automobile
industry, due to increase in vehicle population
because of growing industrialization and
commercialization across China.
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Competitive Landscape Some of the major players
operating in the global automotive engine oil
market include Total S.A, LUKOIL oil company,
Royal Dutch Shell plc., Exxon Mobil Corporation,
BP plc., FUCHS Lubricants, Chevron Corporation,
Sinopec Lubricant Company, JIANGSU LOPAL TECH.
Co. Ltd., and PetroChina Company. Request to Get
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