DUBLIN--(BUSINESS WIRE)--The "Global Lubricants Market - Segmented by Group, Base Stock, Product Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global lubricant market is expected to register a CAGR of 2.18% during the forecast period, 2018-2023.
Lubricants are majorly used in the industrial sector for the proper functioning of machines. They are also used in automobile for smooth functioning and longevity of engines and other components. Lubricants are available in liquid, semi-fluid, or solid state, and possess various characteristics, such as, high viscosity index, high level of thermal stability, low freezing point, and high boiling point, all of which help to reduce friction between surfaces of machine parts and the rate of wear, without compromising operational efficiency.
The consumption of industrial lubricants is rising steadily owing to increasing consumption from manufacturing sectors. The Asia-Pacific region, presently, is a major hub for manufacturing, led by China. Other Asian countries leading in the manufacturing sector include Indonesia, Thailand, the Philippines, Vietnam, and Singapore. FDI inflow to Asia is estimated to be increased by nearly 15% in 2017, to USD 515 billion, this is mostly a result of the renewed policy efforts by the countries in this region.
The chemistry and technology involved in the production of lubricants have undergone a tremendous change in the recent times. With the introduction of long lasting high-performance lubricants, as well as developments in machining technologies, the interval for oil change has extended almost by 100%. The tradition of changing oil for every 3,000 miles has changed to 7,500 to 10,000 miles for passenger cars.
- Amsoil Inc.
- BASF SE
- Bharat Petroleum Corporation Limited
- Blaser Swisslube AG
- Caltex Australia Group
- China National Petroleum Corporation
- China Petroleum & Chemical Corporation
- Chemtura Corporation
- Chevron U.S.A. Inc.
- Eni S.p.A.
- Exxon Mobil Corporation
- Gazprom Neft PJSC
- GULF OIL Corporation Limited
- Idemitsu Kosan Co.
- Indian Oil Corporation Ltd
- JX Nippon Oil & Energy Corporation
- Klber Lubrication
- LUKOIL Lubricants Company
- PETROFER CHEMIE
- PETRONAS Lubricants International
- Phillips 66 Lubricants
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation & Analysis
6. Regional Market Analysis
7. Future of Lubricants Market
8. Competitive Landscape
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/gsckn6/global_lubricants?w=4