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Lubricants market players include
which are integrated lubricant manufacturers ensuring raw material supply to produce additive and mineral oil. Through integration, companies get benefitted in terms of widening their operation scope and market expansion. Most of manufacturers are tied up with oil & gas companies to ensure supply of raw material. With crude oil reserve depletion, market has witness decline in raw material supply. Therefore, to stabilize the scenario, O&G companies have started emphasizing on developing new refining techniques.
Lubricants industry is dominated by Shell, Chevron, ExxonMobil and BP which collectively accounted for over 40% of the overall demand in 2014.