Lubricants market size likely to exceed USD 74 billion by 2022

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Lubricants Market Size (2012-2022)
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Methodology
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Global Market Scenario of Lubricants Oil
Industry

• Lubricants market size is forecast to generate
  USD 74.6 billion revenue by 2022 as per a new
  research report by Global Market Insights, Inc.
• Transportation industry growth, particularly
  automobile production, is likely to drive
  lubricants market size. Increase in drilling
  exploration activities owing to growth in
  oilfield chemicals should also spur growth.
• Industrial lubricants market size was dominant
  and occupied a share of over 38 of the total
  volume in 2014. Increase in industrial output
  coupled with capacity expansions in mining,
  machinery and metal forming should favor
  lubricants demand.
• Consumer automotive lubricants market share is
  most likely to see significant gains, at 3.2
  CAGR and register demand over 13 million tons by
  2022. Increase in passenger car sales in APAC and
  Latin America coupled with stable U.S. automotive
  index is likely to drive demand.

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Continue.....

• Crude oil price slump over the past two years
  have resulted in bringing down lubricants market
  price trend.
• Increasing application scope in niches sectors
  such as medical devices and 3D printing is likely
  to boost demand.
• Stringent regulations by EPA, REACH and ECHA over
  toxicity, bioaccumulation and recyclability are
  likely to threaten industry growth.
• Technology innovation over developing biobased
  lubricants market in order to counter
  environmental concerns may benefit industry
  participants.

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U.S. lubricants market size by product,
2012 - 2022 (Million Tons)
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360 Analysis
Application Analysis- Metal working fluids
market size is expected to grow at a CAGR of 8.6
from 2015 to 2022. Process oils are widely used
in chemical and technical industries to improve
manufacturing processes. Increasing demand for
chemicals primarily in Asia Pacific is expected
to drive their production. Regional
Analysis- Growing industrial output in metal
forming, machining, foundry, mining and plastics
industries in India and China has resulted in
capability expansions by major manufacturers.
Slow industrial output in North America and
Europe is expected to drive the demand for low
cost products in the region. Competitive Market
Share- Major oil gas companies such as Shell,
British Petroleum, Total, Sinopec, and Idemitsu
are integrated lubricant manufacturers which
ensure steady raw material supply to produce
mineral oils and additives. Through integration,
these companies benefit in terms of market
expansion and widening their scope of operations.

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