DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/t4qqz8/lubricants_market) has announced the addition of the "Lubricants Market (By Product- Mineral oil, Synthetic and Bio-based) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020" report to their offering.
Lubricant is the vital element for efficient functioning of machinery. Lubricants perform various functions such as minimize wear & tear, act as coolants, prevent sludge formation, and reduce friction. The use of appropriate lubricants prolongs the lifespan of a machine. Lubricants are manufactured by blending base oils with additives. The performance of lubricants depends on the base oils and additives used. The global lubricants market is segmented on the basis of product type into mineral oil, synthetic, and bio-based. Synthetic lubricants are high performance lubricants compared to mineral oil and bio-based lubricants.
This is due to the controlled synthesis of the base oil used in synthetic lubricants. Bio-based lubricants are bio-degradable in nature, making them environment-friendly. Hence, disposal of these lubricants after use does not raise any environmental concerns.
Key application segments of the global lubricants market are automotive oils, industrial oils, metalworking fluids, grease, and other lubricants. In 2013, the automotive oils segment dominated the global lubricants market. Growth in the automotive oils segment is driven by an increase in the sale of passenger vehicles and rising demand from various construction vehicles. The grease segment is hindered by the use of superior quality of grease, which has a longer life. Thus, the use of superior quality grease decreases the overall consumption of grease.
The global lubricants market is dominated by a few players, making it difficult for new players to enter the market. High investments are required to setup a production facility, and for research and development activities. Moreover, a new player requires a strong distribution network to survive in the market.
Some of the key players in the lubricants market include Royal Dutch Shell plc., Total S.A., Chevron Corporation, Exxon Mobil Corporation, BP p.l.c., PetroChina Company Limited, and Sinopec Limited. Lubricant manufacturing companies are expanding their production capacities and distribution network in developing countries, wherein demand for lubricants is increasing due to rising vehicle count. In regions such as Africa, top MNCs are aggressively expanding their retail network to capture market share in the region.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Lubricants Market - Product Segment Analysis
Chapter 5 Lubricants Market - Application Segment Analysis
Chapter 6 Lubricants Market: Regional Analysis
Chapter 7 Company Profiles
- BP p.l.c.
- Chevron Corporation
- ExxonMobil Corporation
- Fuchs Petrolub SE
- Idemitsu Kosan Co., Ltd.
- Lukoil Oil Company
- PetroChina Company Limited
- Royal Dutch Shell Plc
- Sinopec Limited
- Total S.A.
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