Industrialization Opens up New Avenues for Global Lubricants Market

The global lubricants market is estimated to grow at a CAGR of 1.72% from 2014 to 2020. The market’s volume in 2013 was 39,140.12 kilo tons. By the end of 2020, the global lubricants market should total reach a volume of 44,165.11 kilo tons. The greatest reason for this growth is the rapid rate of industrialization in most emerging economies of the world. But things are not as simple as they seem for the global lubricants market. A faster rate of development also implies the substitution or elimination of conventional lubricants. Major players in the market are therefore attempting strategies to sustain themselves against the restrictions and use the new technology wave to come up with new, eco-friendly products.

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The global lubricants market has so far been dominated by the mineral oil segment in terms of products. The segment singled itself out in the market with a whopping 80% share in 2013. The segment is, however, witnessing quite a bit of opposition due to the environmental impact it has had. In direct contrast to this situation is the biobased lubricants segment, which is expected to be the fastest growing one in the global lubricants market.

Love-hate Between the Markets for Lubricants and Automobiles

It is logical to think that the global automotive market is one of the largest consumers of lubricants. By volume, the automotive market, as a lubricants consumer, took up 50% of the market. Lubricants are needed by vehicles for as long as they are in use. Now that the automobile market is booming, we can see its direct relation to demand from the global lubricants market. But this demand does not come without caveats. At the top of the long list of lubricant requirements for today’s vehicles is for them to be environmentally safe. Manufacturers are struggling to essentially let go of the conventional methods that, although efficient, have caused much harm to the ecosystem.

At the same time, we have the fast-growing segments of electric and hybrid vehicles. Vehicles are already showing a much larger timeframe between oil changes. Adding hybrids to that mix reduces the demand for lubricants even further. The global lubricants market is no longer needed by the entire automobile industry, leaving all but the top players to need to innovate to stay in existence.

Are Oil Prices Affecting the Global Lubricants Market?

A recent move by Royal Dutch Shell PLC shows that the falling oil prices could be working against the global lubricants market. In an attempt to shed assets and recover losses, Shell has sold off its Chinese lubricants business’ majority stake to Carlyle Group LP. This has given the private-equity firm a very rare chance to enter the China energy industry. Shell, on the other hand, said they are going to focus on selling their own lubricants brands inside China.

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Two nations that are showing a remarkable rate of growth are India and China. Both nations are showing improvements in GDP. The expansion of all industries in these two nations, especially automotive, are set to light up the future of the global lubricants market.

Global Lubricants Market is Expected to Reach USD 65.2 Billion in 2018: Transparency Market Research

According to a new market report published by Transparency Market Research “Technology trends in Lubricants (Mineral, Synthetic, and Bio-based) Market for Turbine oil, Compressor oil, Gear oil, Hydraulic oil, Bearing oil and Heat transfer fluid lubricant Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,”the global lubricant market was worth USD 44.0 billion in 2011 and is expected to grow at a CAGR of 5.5% from 2012 to 2018. The global lubricant consumption was 35,605.6 kilo tons in 2011 and is expected to reach 42,304.7 kilo tons in 2018, growing at a CAGR of 2.5% from 2012 to 2018.

Browse the full report at http://www.transparencymarketresearch.com/technology-trends-lubricants-market.html

Increasing automobile demand is expected to fuel lubricant demand over the forecast period. Increasing regulatory support and the need to reduce crude oil dependence are expected to support bio-based lubricant market growth over the next decade. However, volatility in mineral oil prices and high production cost of bio-based lubricants are key challenges faced by industry participants.

Mineral oil based lubricants were the largest product segment and accounted for 96.8% of the overall consumption volume in 2011. Industrial and commercial automotive applications dominated mineral lubricant demand and accounted for 71.6% of the mineral lubricant consumption in 2011. Automotive oils dominated the bio-based lubricant market and accounted for 25.7% of the bio-based lubricant volumes in 2011.

Asia-Pacific dominated the global lubricant market in terms of consumption, owing to strong demand from China and India, and accounted for 40.2% of the global market in 2011. The growth in North America is primarily fuelled by the growth of the U.S. automobiles market. North America is lubricant demand expected to reach 8,756.3 kilo tons by 2018 while Asia Pacific lubricant market is expected to grow at a CAGR of 3.4% from 2012 to 2018. The European lubricants market is expected to continue to be sluggish for conventional lubricant while simultaneously providing attractive opportunities for their bio-based counterparts.

 Some of the key players in the lubricant industry include Royal Dutch Shell, Exxon Mobile, British Petroleum, Castrol, Chevron, Total and Fuchs. The report provides an overview of these companies followed by their financial revenue, business strategies, products and recent developments.

This research analyzes and estimates the performance and consumption of lubricants in the global scenario, providing detailed trend analysis of the market by geography and comprehensive analysis of companies that are dealing in lubricants. The report presents a thorough assessment of the strategies followed by different stakeholders by segmenting the lubricant market as below:

§  Lubricants Market: Product Segment Analysis

o   Mineral Lubricants

o   Synthetic Lubricants

o   Bio-based Lubricants

§  Lubricants Market: Technology Trends

o   Turbine oil lubrication

o   Compressor oil lubrication

o   Gear oil lubrication

o   Hydraulic oil lubrication

o   Fire resistant hydraulic fluid

o   Nuclear resistant lubricant

o   Bearing oil lubrication

o   Heat transfer fluid

o   Re-refined base oils and lubricants

o   Nanomaterials based lubrication

o   Other emerging fields

§  Lubricants Market: Regional Analysis

o   North America

o   Europe

o   Asia-Pacific

o   Rest of the World (Middle East, Latin America, and Africa)

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