Based on the applications, the global Lubricants Market is divided into industrial oils, transportation, industrial oils & machinery, greases, automotive oils and metalworking fluids.
But industrial oils & machinery section is predicted to be the rapidly growing section during the estimated span. During year 2013, automotive oils section dominated the global lubricants market in terms of size. The expansion of the automotive oils section can be attributed to the factors like growing demand from different construction automobiles and rise in sale of passenger automobiles.
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Transportation includes passenger vehicle, marine vehicle, commercial vehicle and aviation. This section is projected to play a vital role in propelling the growth & expansion of the global lubricants market owing to the rise in the proportion of automobiles on road. It contributed to the biggest share of the global lubricants market during year 2015. Automotive oils section is further divided into gear oil, hydraulic oil and engine oil.
Technological breakthroughs, technological innovations & key business strategies like joint ventures, associations, partnerships, market penetration, product innovation, product differentiation and benchmarking adopted by the key industry players are predicted to be few key drivers stimulating the growth of the lubricants market in the potential regions. Successful implementation of these business strategies will also help the key market players to grow & expand their business all across the globe.
India along with Africa is the budding markets and India is likely to enjoy a huge growth. In 2015, Petronas Lubricants International (PLI) had come up with $50 million blending plant in Maharashtra, India. According to Giuseppe Pedretti, Asia head of PLI, India is a prominent market in Asia region and they are planning to expedite their business in India. This industry is constructed on 25 acre and a production of 110 million liters is expected in a year. The factory is likely to start their business till the end of 2017.
Countries like India and China are noticing a significant expansion in sectors like metal forming, mining, machining and plastic industries and the demand of these sectors are likely to increase in near future. Indian lubricants market is predicted to rise at a faster rate with an anticipated CAGR of beyond 11% between the years 2015 to 2022.
Prominent key players of lubricants market are include oil and gas industries like Shell, Sinopec, British Petroleum and Idemitsu are integrated lubricant producers which focus on adequate supply of raw material for steady manufacturing of oils. With integrations, it becomes easier for these companies to expand their business. Most of the manufacturers have a contract with oil and gas industries for efficient supply of raw material. Depletion in crude oil extraction has resulted in crisis of raw material and hence, many companies are emphasizing on refining techniques for uninterrupted raw material supply.
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Glimpse of Table of Content (ToC)
Chapter 4 Lubricants Product Insights
4.1 Global lubricants market volume share by product, 2014 & 2022
4.2.1 Market estimates and forecast, 2012 – 2022
4.2.2 Market estimates and forecast, by region, 2012 – 2022
4.2.3 lubricants market estimates and forecast, by product, 2012 – 2022
4.2.4 Process Oils
126.96.36.199 lubricants market estimates and forecast, 2012 – 2022
188.8.131.52 Market estimates and forecast, by region, 2012 – 2022
4.2.5 General Industrial Oils
184.108.40.206 lubricants market estimates and forecast, 2012 – 2022
220.127.116.11 Market estimates and forecast, by region, 2012 – 2022
4.2.6 Metal Working Fluids
18.104.22.168 Market estimates and forecast, 2012 – 2022
22.214.171.124 lubricants market estimates and forecast, by region, 2012 – 2022
4.2.7 Industrial engine oils
126.96.36.199 Market estimates and forecast, 2012 – 2022
188.8.131.52 Market estimates and forecast, by region, 2012 – 2022
184.108.40.206 Market estimates and forecast, 2012 – 2022
220.127.116.11 Market estimates and forecast, by region, 2012 – 2022
4.3 Commercial automotive
4.3.1 Market estimates and forecast, 2012 – 2022
4.3.2 Market estimates and forecast, by region, 2012 – 2022
4.3.3 lubricants market estimates and forecast, by product, 2012 – 2022
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