Global Lubricants Market Outlook to 2027

Global Lubricants Market Outlook to 2027

The report provides a comprehensive analysis of the potential of the Global Lubricants Market. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

Its market segment includes by type of product (automotive, industrial, marine & process oils), by type of grade (mineral, synthetic & semi-synthetic), by type of application (automotive, industrial, others), by geography (North America, Europe, Asia Pacific, Latin America, Middle East, Africa). The report includes growth enablers, recent trends & developments, pain points & solutions. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview

According to Ken Research estimates, the Global Lubricants Market which is projected to grow at a robust rate is driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles. Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possibly hinder the market growth.

global-lubricants-market-chart

Engine oil dominated the market, and it is expected to grow during the forecast period, as it is widely used to lubricate internal combustion engines.

Growing prominence for bio-lubricants is likely to act as an opportunity in the future.

Asia-Pacific dominated the market across the world, with the largest consumption coming from the countries such as China and India.

Key Trends by Market Segment:

By Type of Lubricant:

Engine oil is projected to dominate the Global lubricants market in the upcoming years. The wide usability in transportation & industrial sector are the driving factors for engine oil. In addition to it, engine oil finds wide usability in construction vehicles in construction industry.

By Type of Grade:

Owing to its wide availability & low price, mineral oil accounts for the largest share of the Global lubricants market. However, pertaining to its superior qualities, synthetic oil is anticipated to grow at the highest CAGR during the forecasted period, 2022-27.

By Geography:

Asia Pacific is expected to hold the largest share of the market. As per projections, the region will be a prime location for the lubricants business, owing to its growing population rate, expanding industrial investment, & infrastructure development, mostly in China, India & Indonesia.

Competitive Landscape

Future Outlook

The Global Lubricants market is expected to grow at a steady rate during the forecasted period. The market is driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles. Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possibly hinder the market growth.

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