Lewes, Delaware, May 09, 2024 (GLOBE NEWSWIRE) -- The Global Lubricants Market is projected to grow at a CAGR of 2.7% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 115.87 Billion in 2024 and is expected to reach USD 187.9 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Lubricants Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Exxon Mobil Corporation (USA), Royal Dutch Shell plc (Netherlands), Chevron Corporation (USA), BP plc (UK), China National Petroleum Corporation (China), Saudi Aramco (Saudi Arabia), TotalEnergies SE (France), Lubrizol Corporation (USA), Fuchs Petrolub SE (Germany), Idemitsu Kosan Co., Ltd. (Japan) |
| SEGMENTS COVERED | By Type, By Application, By End-Use Industry, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Lubricants Market Overview
Growing Automotive Production: Due to the strong growth in the automobile industry, there is a significant increase in the need for lubricants. Lubricants are essential for improving engine performance and extending the lifespan of machinery, which is why they are widely used in this industry. Positioning ourselves as dependable partners that cater to the lubrication needs of the automobile sector can result in substantial sales potential for us, as B2B suppliers.
Expansion of Industrial Sector: The growth of the industrial sector, encompassing manufacturing, building, and mining, drives the need for lubricants to uphold machinery effectiveness and reduce periods of inactivity. By positioning our lubricant solutions as vital elements for optimizing industrial operations, we can attract the attention of B2B buyers who are looking for dependable lubrication supplies to improve the performance of their machines.
Technological Advancements: Ongoing advancements in lubricant technology, such as the creation of lubricants derived from natural sources and the production of artificial blends, provide exceptional performance while also tackling environmental issues. By emphasizing our dedication to innovative lubricant solutions that are in line with sustainability objectives, we may appeal to B2B clients that are looking for ecologically conscious choices for their lubricating requirements.
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Environmental Regulations and Concerns: The lubricants market has difficulties due to strict environmental rules about emissions and waste management. B2B purchasers are placing greater importance on environmentally friendly lubricant choices to ensure adherence to regulations and reduce negative effects on the environment. By positioning our lubricant options as compliant with rules and environmentally friendly, we may alleviate this limitation and appeal to environmentally sensitive buyers.
Volatility in Crude Oil Prices: The volatility of crude oil prices has a direct impact on the expenses associated with acquiring raw materials for the production of lubricants, which in turn affects the profit margins and pricing strategies. B2B purchasers exhibit prudence towards cost volatility and actively pursue stable pricing structures to efficiently manage their operating expenses. Providing clear and easily understandable pricing models and additional services that bring extra benefits can help reduce worries about fluctuating prices and strengthen client confidence.
Competitive Landscape and Market Saturation: The lubricants industry is characterized by intense competition, as it is populated by a multitude of companies that provide a diverse array of products and services. Market saturation increases the level of competition in pricing and necessitates the implementation of differentiation tactics in order to distinguish oneself. To establish a strong position in the competitive market and attract new customers, we may highlight the superior quality, dependability, and effectiveness of our lubricant solutions through focused marketing campaigns and tailored B2B sales strategies.
Geographic Dominance:
Geographical dominance in the Lubricants Market is determined by variables such as the expansion of industries in specific regions, the improvement of infrastructure, and the level of automotive manufacturing. Countries such as China and India, which are considered emerging economies, have a significant demand for goods since their industrial sectors are growing. On the other hand, developed regions like North America and Europe maintain their dominance in the market by having strict quality standards and making technical developments. Gaining insight into regional dynamics is essential for B2B sales strategies to leverage market possibilities and develop a robust presence in various geographical areas.
Lubricants Market Key Players Shaping the Future
Major players, including Exxon Mobil Corporation (USA), Royal Dutch Shell plc (Netherlands), Chevron Corporation (USA), BP plc (UK), China National Petroleum Corporation (China), Saudi Aramco (Saudi Arabia), TotalEnergies SE (France), Lubrizol Corporation (USA), Fuchs Petrolub SE (Germany), Idemitsu Kosan Co., Ltd. (Japan). and more, play a pivotal role in shaping the future of the Lubricants Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Lubricants Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Lubricants Market into Type, Application, End-Use Industry, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Lubricants Market, please Contact Verified Market Research®.
- Lubricants Market, by Type
- Mineral Oil Lubricants
- Synthetic Lubricants
- Bio-Based Lubricants
- Greases
- Lubricants Market, by Application
- Automotive Lubricants
- Industrial Lubricants
- Marine Lubricants
- Aviation Lubricants
- Lubricants Market, by End-Use Industry
- Automotive
- Industrial Manufacturing
- Marine
- Aviation
- Lubricants Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Top 10 Automotive Lubricant Companies doling out solutions to vehicle industry
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