DUBLIN--(BUSINESS WIRE)--The "Asphalt, Lubricating Oil and Grease Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global asphalt, lubricating oil and grease market as it emerges from the COVID-19 shut down.
The global asphalt, lubricating oil and grease market is expected to grow from $254.02 billion in 2020 to $308.13 billion in 2021 at a compound annual growth rate (CAGR) of 21.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $437.25 billion in 2025 at a CAGR of 9%.
- Royal Dutch Shell
- BP PLC
- Gazprom Neft
- CRH Plc
- Owens Corning Sales LLC
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Most of the asphalt companies are using frequency inverters in asphalt mixing process to control asphalt mixture drying time. Frequency inverter is an electronic device which transforms an AC current with fixed frequency to variable amplitude and frequency. It is used to vary the speed of rotation of the drying drum of the plant drying system so that the aggregates which are more porous receive heat from the burning flame for more time resulting in complete drying. It improves the drying process and allows the less porous asphalt to dry faster resulting in increased production. For instance, some of the major companies using frequency inverters include 3 Franks Services, A. Macchione Brothers, Absolute Asphalt and Concreter LLC and Ace Asphalt.
The demand for multi grade lubricants is gaining traction due to their better performance in cold climatic conditions. Multi-grade lubricant is a viscosity modifier used in engines which allows the smooth flow of oil under cold and hot climatic conditions. It is used to minimize the effect of change of viscosity with respect to the changes in the surrounding temperature and maintains optimum viscosity over the engine operating temperature range. Some of the major companies producing this lubricant include Gazprom, Rosneft, Exxonmobil, Petrochina and BP.
Producers of petroleum-based lubricants are offering bio-based lubricants to address the concerns associated with the impact of lubricants on the environment. Bio-based lubricants are formulated with renewable or biodegradable materials. Vegetable oils are one of the major components for bio-based lubricants. Vegetable oils offer high lubricity, viscosity and thermal stability. They have a higher flash point of 326C as compared to flash point of 200C for mineral oils. Lubricants produced from vegetable oils include tractor transmission hydraulic fluid, industrial hydraulic fluids for process and machinery applications, food-grade hydraulic fluids and greases, greases for use in automotive, railroad and machinery applications, chainsaw bar oil, gear lubes, compressor oil, and transformer and transmission line cooling fluids.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Asphalt, Lubricating Oil and Grease Market Characteristics
4. Asphalt, Lubricating Oil and Grease Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Asphalt, Lubricating Oil and Grease Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Asphalt, Lubricating Oil and Grease Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Asphalt, Lubricating Oil and Grease Market Trends and Strategies
8. Impact of COVID-19 on Asphalt, Lubricating Oil and Grease
9. Asphalt, Lubricating Oil and Grease Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Asphalt, Lubricating Oil and Grease Market Regional Analysis
10.1. Global Asphalt, Lubricating Oil and Grease Market, 2020, by Region, Value ($ Billion)
10.2. Global Asphalt, Lubricating Oil and Grease Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Asphalt, Lubricating Oil and Grease Market, Growth and Market Share Comparison, by Region
11. Asphalt, Lubricating Oil and Grease Market Segmentation
11.1. Global Asphalt, Lubricating Oil and Grease Market, Segmentation by Type
11.2. Global Asphalt, Lubricating Oil and Grease Market, Segmentation by End Use Industries
12. Asphalt, Lubricating Oil and Grease Market Segments
13. Asphalt, Lubricating Oil and Grease Market Metrics
For more information about this report visit https://www.researchandmarkets.com/r/akz9hz