Global market revenue is expected to reach $492.14 billion by 2026.
This research benchmarks top participants in the global lubricants industry. Lubricants are integral to the smooth operations of vehicles, equipment, and systems in the automotive and transportation, industrial, agricultural, and heavy equipment spaces. Lubricants are materials that are primarily used to reduce friction between two or more components in a vehicle, machinery, or equipment to protect them from premature wear and tear. The main product types considered here include engine oil, transmission fluid, gear oil, hydraulic fluid, and greases.
Higher demand in the Asia-Pacific (APAC) region, especially from the automotive and transportation industry, is expected to propel much of this growth. APAC markets have been witnessing a surge in car sales over the past few years as urbanization increases and middle-class incomes grow, especially in the larger economies of China and India. Reductions in new car purchase taxes are an additional incentive.
Propelled by the surging demand for chemical, food, and beverage, and pharmaceutical production in China and India, the APAC market for lubricants in the industrial sector is poised to gain significantly as well, with considerable investments by leading chemical manufacturers toward facility expansion and construction of new facilities.
Manufacturers of lubricants are increasingly moving toward higher-purity Group III and Group IV base oils due to the regulatory mandates demanding emission control and greenhouse gas reduction. A total of 28 companies are considered in this project; they range from global oil and gas giants to specialty manufacturers.
The Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the methodology. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and a small discussion on their positioning. Hundreds of companies in the industry are analyzed and benchmarked them across 10 criteria, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
C2A-Market Participant Profiles
- Petronas Lubricants International (PLI)
- Royal Dutch Shell
- BP p.l.c.
- Total S.A.
- JXTG Nippon Oil & Energy Corporation
- Idemitsu Kosan Co., Ltd
- ExxonMobil Corporation
- Chevron Corporation
- Sinopec Lubricant Company
- The Phillips 66 Company
- SK Innovation Co., Ltd
- Fuchs Petrolub SE
- Repsol Group
- PJSC Rosneft Oil Company
- Petro-Canada Lubricants Inc.
- Indian Oil Corporation Ltd (IOCL)
- PetroChina Company Limited
- Hindustan Petroleum Corporation Limited (HPCL)
- Gazprom Neft PJSC
- Klber Lubrication
- Calumet Specialty Products Partners
- PJSC Lukoil Oil Company
- Gulf Oil International
- Amsoil, Inc.
- ADDINOL Lube Oil GmbH
- Exol Lubricants Limited
For more information about this report visit https://www.researchandmarkets.com/r/e2b388