Lubricants Market Analysis

Lubricants Market Analysis

Industrial lubricants segment contributed 40% in 2014 owing to high consumption and revenue generation of general industrial oils. It has wide application in chemicals, unconventional energy and mining sector and is expected to strengthen the lubricants market demand in compressors, bearings, centrifuges, hydraulics and industrial engines in future./p>

Metal working fluids is expected to witness growth over 8% during forecast period. Process oil has wide application in technical and chemical industry to improve manufacturing process. Increasing chemicals demand mainly in Asia Pacific is expected to propel the lubricants market growth from 2015 to 2022./p>

Increasing demand for machinery maintenance from manufacturing sector to minimize the operational cost will stimulate the business growth in future. Asia Pacific is expected to witness growth during forecast period subject to increasing demand from machining, mining, plastics and metal forming industry mainly in China and India which has resulted in capability expansions. Lubricants market in India is expected to witness growth over 11%, in term of revenue during forecast timeframe owing to the strong domestic lubricant consumption demand through the automotive and manufacturing industries.
 

For instance, by April 2016, sales of passenger vehicles increased by over 10%, while scooters increased over 33%, and demand for motorcycle increased by over 15% which will positively encourage the industry outlook during forecast period.
 

Installation of large number of power plant is expected to positively influence the lubricants market in China share in coming years. China was valued over 5 million tons in 2015. Regional manufacturers are expected to comply with the Petroleum Act, Public Liability Insurance Act, Factories Act, Stockholm Convention on Persistent Organic Pollutants.
 

Sluggish industrial output in Europe will propel the demand for low cost products in the region. Increasing focus on fuel economy and carbon dioxide reduction will further stimulate the Europe market in coming year. Germany contributed over 10% of regional volume share in 2015 and is expected to witness growth over 5% in term of revenue from 2015 to 2022. Increasing demand for consumer goods, capital goods and construction sector will complement the lubricants market outlook.
 

U.S. was over 5 million tons and is expected to witness significant growth in future owing to increasing spending in infrastructure segment. American Society of civil engineers estimated that over USD 3.5 trillion investment is required to bring America’s infrastructure into good condition by 2020.