Aviation Lubricants Global Market Report 2023: Sector to Reach $2.37 Billion by 2027 at a CAGR of 8% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Aviation Lubricants Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global aviation lubricants market grew from $1.61 billion in 2022 to $1.75 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The aviation lubricants market is expected to grow to $2.37 billion in 2027 at a CAGR of 8.0%.

North America was the largest region in the aviation lubricants market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aviation lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rise in air passenger traffic is expected to propel the growth of the aviation lubricants market. Air transportation has been an essential mode of transportation for travel from one location to another and for services. With the change in the aircraft industry, there is simultaneous growth in air traffic, leading to an increase in the demand for new aircraft and maintenance of the existing fleet. This increased passenger traffic leads to a rise in a significant supply of aircraft to regions where growth is expected.

As aircraft have a limited life to serve, the need for aviation lubrication comes into the picture, as it provides additional engine cooling, cleanliness, and corrosion prevention functions to aircraft, which keeps the engine clean and the pistons running smoothly, thus increasing aircraft life.

For instance, In May 2022, according to the International Air Transport Association (IATA) report on passenger air traffic, total traffic in March 2022 was up 76.0 % from March 2021 (measured in revenue passenger kilometers, or RPKs). Furthermore, there was a dramatic increase in the air passenger market in Europe, Asia-pacific, and North America, accounting for 85% of overall air passenger traffic. Therefore, the rise in air passenger traffic is expected to boost the demand for aviation lubricants during the forecast period.

The development of eco-friendly and safe aviation fuel and lubricant is a key trend gaining popularity in the aviation lubricants market. Due to the increased environmental concern, the aviation lubricants market is witnessing the need for eco-friendly and safe aviation lubricants.

Sustainable aviation fuel is being identified as a critical component in achieving these objectives. Many companies operating in aviation lubricants are developing lubricants that are ecofriendly and safe to use in nature to provide better products for their clients. For instance, in January 2021, Xeriant, Inc., a Florida-based developer of commercial aerospace technologies entered into a strategic partnership with Xeriant Europe s.r.o. to launch eco-friendly metal conditioners and lubricants under the name XERI-MC and XERI-L.

In January 2020, Fuchs Petrolub, a German-based lubricants manufacturer, acquired Nye Lubricants Inc. for an undisclosed amount. With this acquisition, Fuchs will expand their specialty lubricants product portfolio by offering engineered solutions across multiple markets and creating opportunities to serve new and high-end critical applications. Nye Lubricants Inc. is a US-based manufacturer of industrial lubricants catering to markets such as aerospace, automotive, defense, and others.

The countries covered in the aviation lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Reasons to Purchase

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• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Scope

Markets Covered:

1) By Type: Engine Oil; Grease; Special Lubricants And Additives; Hydraulic Fluid

2) By Technology: Synthetic; Mineral Based

3) By Application: Hydraulic Systems; Engine

4) By Aircrafts: Business Jets and Turboprop Planes; Large Commercial Jets; Piston Engine Aircraft; Defense Aircraft; Helicopters; Other Aircrafts

Key Topics Covered:

1. Executive Summary

2. Aviation Lubricants Market Characteristics

3. Aviation Lubricants Market Trends And Strategies

4. Aviation Lubricants Market - Macro Economic Scenario

5. Aviation Lubricants Market Size And Growth

6. Aviation Lubricants Market Segmentation

7. Aviation Lubricants Market Regional And Country Analysis

8. Asia-Pacific Aviation Lubricants Market

9. China Aviation Lubricants Market

10. India Aviation Lubricants Market

11. Japan Aviation Lubricants Market

12. Australia Aviation Lubricants Market

13. Indonesia Aviation Lubricants Market

14. South Korea Aviation Lubricants Market

15. Western Europe Aviation Lubricants Market

16. UK Aviation Lubricants Market

17. Germany Aviation Lubricants Market

18. France Aviation Lubricants Market

19. Eastern Europe Aviation Lubricants Market

20. Russia Aviation Lubricants Market

21. North America Aviation Lubricants Market

22. USA Aviation Lubricants Market

23. South America Aviation Lubricants Market

24. Brazil Aviation Lubricants Market

25. Middle East Aviation Lubricants Market

26. Africa Aviation Lubricants Market

27. Aviation Lubricants Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Aviation Lubricants Market

29. Aviation Lubricants Market Future Outlook and Potential Analysis

30. Appendix

A selection of companies mentioned in this report includes

• Aerospace Lubricants Inc
• Eastman Chemical Company
• Exxon Mobil Corporation
• The Chemours Company
• Lanxess

For more information about this report visit https://www.researchandmarkets.com/r/xwbhek

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