Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The "Turkiye Lubricants Market Outlook to 2028" report has been added to ResearchAndMarkets.com's offering.
The market is witnessing a sharper focus on sustainability which drives the demand for eco-friendly lubricants.
Turkiye's lubricants market is experiencing steady growth, driven primarily by industrial activities, automotive sector developments, and increasing demand for lubricants in various applications. The market size is increasing which reflects the growing demand for lubricants across different industries. Turkiye has a significant automotive manufacturing industry, with several major manufacturers producing vehicles for domestic consumption and export. The automotive sector is a key driver of lubricant demand in Turkiye as lubricants are essential for vehicle maintenance and operation.
Lubricants are used in various industries like manufacturing, construction, mining, and agriculture. The growth of these sectors contributes to the demand for lubricants for machinery and equipment maintenance. Regulatory standards and environmental concerns are influencing the types of lubricants used in the market. Compliance with environmental regulations & adopting eco-friendly lubricants have been the emerging trends in the industry. Lubricants are distributed through various channels that is, direct sales, distributors, retailers, and online platforms. The efficiency of distribution networks and availability of products across different regions influence market penetration.
The lubricants market in Turkiye is a moderately consolidated market. Several companies dominate a significant portion of the market share, including companies like Shell, Total, Castrol among others. These major players often have extensive distribution networks, brand recognition, and diverse product portfolios, which gives them a stronghold in the market.
Turkiye Lubricants Market Analysis
Inception of the lubricants market in Turkiye was in 1940 by Petrol Ofisi. Oil was first discovered at Raman-1 Well in Batman. Presently, the Turkiye Lubricant Market is at growth stage with establishment of many national and international companies such as Shell, Castrol, Total Energies and more. Turkiye is witnessing growing demand for specialized industrial lubricants which is tailored for specific applications in manufacturing. Synthetic lubricants are gaining popularity in the industry due to their ability to withstand extreme temperatures and provide better efficiency.
Key Trends by Market Segment:
By Type of Lubricants: In 2023, Turkiye Lubricants market is segmented by type into Industrial & Automotive. Out of these, Automotive segment dominates the market in Turkiye with a significant share of overall contribution. Turkiye has a considerable number of vehicles on its roads, including both passenger cars and commercial vehicles. With a large fleet of automobiles, there is a consistent demand for automotive lubricants to keep these vehicles running smoothly.
By Grade of Lubricants: In 2023, Turkiye Lubricants market has been segmented into Mineral, Synthetic & Semi-Synthetic. Mineral-based lubricants dominate the market with a significant portion of overall contribution. Mineral-based lubricants are usually less expensive to produce compared to synthetic or semi-synthetic lubricants. This makes them more accessible to a wider range of consumers, including individual vehicle owners and small businesses. Along with its widespread compatibility, the mineral segment continues to grow.
Competitive Landscape:
- Turkiye's Lubricants Market is in its growing phase with leaders commanding a larger market share. Players in this market compete on various fronts which includes Product, Price, and Service.
- Petrol Ofisi, BP Castrol and Total Energies collectively accounted for more than 60% of the total market share in the market.
- Despite being the leader in the market, Petrol Ofisi falls behind in the Industrial Lubricant Segment, as Castrol BP consolidates its position in both the segments, amongst the giant players.
- Lubricants in Turkiye have a history from 1900s and 3 global players: Total Energies, Shell and Castrol BP, based out of Europe contribute the most annual revenue of more than $300 Mn.
Future Outlook:
- Turkiye Lubricants Market is projected to reach $ 21.2 Bn revenue in 2028, driven by high inflationary tendencies and growth in manufacturing and construction sectors.
- Oil demand is expected to continue to expand over 2023-2028 in Turkiye to fulfill the consumption requirements of industrial and automotive sectors by processing mineral oils into semi-synthetic and synthetic oils.
- The market is expected to witness enhancing use of synthetic lubricants over long term, due to the growing awareness of people to switch to better quality lube oils for long term protection of the engines. Specialized EV fluids will gain popularity with increasing EVs in the country.
- The market is also seeing adoption of automation and Industry 4.0 principles in automated machinery, robotics, and smart manufacturing processes.
- Synthetic based lubricants are expected to continue gaining popularity and secure more than 40% of the market share by 2028.
Key Topics Covered:
1. Executive Summary
1.1 Executive Summary for Turkiye Lubricants Market, 2018-2028
2. Country Overview of Turkiye
2.1 Country Demographics, 2023
2.2 Turkiye Automotive Market, 2023
2.3 Turkiye Industrial Market, 2023
3. Turkiye Lubricants Market Overview
3.1 Supply Ecosystem of Major Entities in Turkiye Lubricants Market
3.2 Demand Ecosystem of Major Entities in Turkiye Lubricants Market
3.3 Business Cycle and Genesis of Turkiye Lubricants Market
3.4 Timeline of Major Players in Turkiye Lubricants Market
3.5 Value Chain Analysis of Turkiye Lubricants Market
3.6 Market Sizing Analysis of Turkiye Lubricants Market, 2018-2023
3.7 Market Segmentation by Lubricant Type, 2018-2023
3.8 Market Segmentation by Lubricant Grade Type, 2018-2023
4. Turkiye Automotive Lubricants Market Segmentation, 2023
4.1 Automotive Lubricants Market Overview, 2023
4.2 by Type of Automotive Lubricants on the Basis of Sales and Volume, 2023
4.3 by End Use of Automotive Lubricants on the Basis of Sales and Volume, 2023
4.4 by Distribution Channel of Automotive Lubricants on the Basis of Sales and Volume, 2023
5. Turkiye Industrial Lubricants Market Segmentation, 2023
5.1 Industrial Lubricants Market Overview, 2023
5.2 by Type of Industrial Lubricants on the Basis of Sales and Volume, 2023
5.3 by End Use of Industrial Lubricants on the Basis of Sales and Volume, 2023
5.4 by Distribution Channel of Industrial Lubricants on the Basis of Sales and Volume, 2023
6. End User Analysis of Turkiye Lubricants Market
6.1 End User Analysis of Turkiye Lubricants Market
6.2 Sectoral End User Analysis of Turkiye Lubricants Market
6.3 End Users Pain Points in Turkiye Lubricants Market
6.4 Vendor Evaluation and Selection Process in Turkiye Market
6.5 Factors Affecting Vendor Selection Process
6.6 Decision Making Parameters of Automotive Lubricant End-Users in Turkiye Lubricants Market
6.7 Decision Making Parameters of Industrial Lubricant End-Users in Turkiye Lubricants Market
7. Industry Analysis of Turkiye Lubricants Market
7.1 SWOT Analysis for Turkiye Lubricants Market
7.2 Porter's Five Forces Analysis of Turkiye Lubricants Market
7.3 Growth Drivers in Turkiye Lubricants Market
7.4 Bottlenecks and Challenges in Turkiye Lubricants Market
7.5 Trends and Developments in Turkiye Lubricants Market
7.6 Turkiye Lubricants Market Regulations
8. Competitive Framework of Turkiye Lubricants Market
8.1 Competitive Landscape
8.2 Market Share of Major Manufacturers in Turkiye Lubricants Market, 2023
8.3 Market Share of Major Manufacturers in Turkiye Automotive and Industrial Lubricants Market, 2023
8.4 Strength and Weakness of Major Manufacturers in Turkiye Lubricants Market, 2023
8.5 Average Price by Grade Type of Automotive Lubricants Manufacturers, 2023
8.6 Average Price by Lubricant Type of Industrial Lubricants Manufacturers, 2023
8.7 Cross Comparison of Major Players in Turkiye Industrial Lubricant Market, 2023
9. Future Outlook and Projections for Turkiye Lubricant Market, 2023-2028
9.1 Market Sizing Analysis of Turkiye Lubricants Market, 2023-2028
9.2 Market Segmentation by Lubricant Type and Grade, 2023-2028
9.3 Market Sizing Analysis of Automotive Lubricants, 2023-2028
9.4 Market Segmentation of Automotive Lubricants by Type and
9.5 End Use on the Basis of Sales Volume, 2028
9.6 Market Segmentation of Automotive Lubricants by Distribution
9.7 Channel on the Basis of Sales Volume, 2028
9.8 Market Sizing Analysis of Industrial Lubricants, 2023-2028
9.9 Market Segmentation of Industrial Lubricants by Type and End Use on the Basis of Sales Volume, 2028
9.10 Market Segmentation of Industrial Lubricants by Distribution Channel on the Basis of Sales Volume, 2028
10. Market Opportunity and Analyst Recommendations
10.1 Companies Looking to Capture Value Growth Can Pull Several Levers
10.2 Marketing and Sales Channel Strategies for Automotive and Industrial Lubricant Providers Industry Speaks
A selection of companies mentioned in this report includes, but is not limited to:
- Petrol Ofisi
- The Shell Company
- BP - Castrol
- Total Energies
- Opet Fuchs
For more information about this report visit https://www.researchandmarkets.com/r/ui9349
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