Infrastructure development in emerging economies and increasing numbers of passenger cars are the two main market drivers for the global lubricants market, which is segmented by product type, applications and geography. Based on product type, this market is categorized into bio-based, mineral oil and synthetic lubricants. The mineral oils segment holds the highest share in the lubricants market and is expected to retain its leading position during the forecast period as well. Grease, automotive oils, metalworking fluids, and industrial oils are some of the common application segments in the global lubricants market.
The market is classified into the Asia Pacific, North America, Europe, the Middle East, and Rest of the World. Entry of new players in this market is challenging, since it is dominated by only a few leading companies. Research and development activities in the global lubricants market calls for high investments for establishing production facilities. Furthermore, new market entrants need strong distribution networks in order to thrive in the global lubricants market. Presently, lubricant manufacturers are focusing more on expanding their distribution networks, and production capacities.
The key lubricant manufacturing companies are Sinopec Limited, Royal Dutch Shell Plc, PetroChina Company Limited, Lukoil Oil Company, Idemitsu Kosan Co., Ltd., and ExxonMobil Corporation.
The report is titled Lubricants Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.
Source: Transparency Market Research
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