DUBLIN , March 2, 2023 /PRNewswire/ — The report “Lubricants and Greases Market by Type, by Application: Global Opportunity Analysis and Industry Forecast, 2021-2031” has been added to ResearchAndMarkets.com’s offers
The global lubricants and greases market was valued at USD 123.8 billion in 2021 and is forecast to reach USD 168.2 billion by 2031, growing at a CAGR of 3.2% from 2022 to 2031.
Key market players
- Armor lubricants
- Total S.A.,
- Petromin Corporation
- aljomaih and shell lubricating oil company limited
- Behran Oil Co. Ltd.
- FUCHS
- Exxon Mobil Corporation
- GULF OIL Middle East Limited (GULF OIL International)
- emirates
- Idemitsu Kosan Co., Ltd.
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Lubricant and grease is a material that reduces friction between two contacting surfaces, reducing the amount of heat generated while the surfaces are operating. It can have the potential to transfer forces, move foreign particles, and cool or heat surfaces. Lubricity is a quality that helps reduce friction.
One of the key drivers of the lubricants and greases market is increasing demand from end-use industries. Lubricants are used in construction equipment because of their characteristics, such as anti-wear and corrosion resistance.
Hydraulic fluids are used in earthmoving equipment such as crawler excavators and mini excavators because of their high power transmission capacity.
In addition, lubricants and greases are used to improve equipment drain/regrease intervals, improve lubrication effectiveness, improve wear resistance of friction pairs, and extend equipment life. Lubricants and greases are used as hydraulic fluids and compressor oils in the steel industry for a variety of applications.
Lubricants are necessary for equipment, including blast furnaces and continuous castings, to reduce downtime and improve operational efficiency. These factors are expected to drive the growth of the market during the forecast period.
A variety of lubricants made from vegetable oils, such as rapeseed, rapeseed, sunflower, palm, coconut and soybean, as well as animal fats, are called bio-based lubricants, bio-lubricants or bio-lubricants. By using biological lubricants, storm water pollution caused by brake line, engine and hydraulic system leaks is greatly reduced.
As a result, many European nations have mandated the use of bio-based lubricants, especially in areas with fragile ecosystems. Compared to petroleum-based lubricants, biological lubricants perform better and last longer because they evaporate more slowly and adhere better to metal surfaces.
Penalties imposed on the operator in the event of spills or leaks into the environment are substantially lower than those associated with petroleum-based lubricants. These factors have been influencing the adoption of bio-based lubricants in a variety of industries, including oil and gas, mining, metalworking, power generation and metalworking. The introduction of various tax incentives supporting the use of bio-based lubricants has been important in industrialized countries, and developing countries such as India and China are expected to follow the trend.
The lubricants and greases market is segmented on the basis of type, application, and region. Based on Type, Type, the market is classified into Heavy Duty Engine Oils (HDEO), Passenger Car Engine Oil (PCMO), Gear Oil, Hydraulic Fluids, Turbine Oils, Greases, Compressor Oil And others. Based on the application, it is classified into power generation, automotive, heavy equipment, food and beverage, chemical manufacturing, and others. In terms of region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America and the Middle East.
Key benefits
- This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of Lubricants and Greases market analysis from 2021 to 2031 to identify prevailing Lubricants and Greases market opportunities.
- The market study is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of Lubricants and Greases market segmentation helps in determining prevailing market opportunities.
- The leading countries in each region are mapped according to their revenue contribution to the global market.
- The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
- The report includes analysis of regional and global lubricants and greases market trends, key players, market segments, application areas, and market growth strategies.
Key topics covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: OVERVIEW OF THE MARKET
3.1. Definition and scope of the market
3.2. Key findings
3.2.1. The best investment pockets
3.3. Analysis of Porter’s five forces
3.4. Positioning of the best players
3.5. Market dynamics
3.5.1. drivers
3.5.2. restrictions
3.5.3. opportunities
3.6. Analysis of the impact of COVID-19 on the market
3.7. Price analysis
3.8. Regulatory guidelines
3.9. Patent landscape
CHAPTER 4: LUBRICANTS AND GREASES MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Heavy Duty Engine Oils (HDEO)
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Hydraulic fluids
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Passenger car motor oil (PCMO)
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Turbine oils
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Gear oil
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
4.7 Fats
4.7.1 Key market trends, growth factors and opportunities
4.7.2 Market size and forecast, by region
4.7.3 Market analysis by country
4.8 Compressor oil
4.8.1 Key market trends, growth factors and opportunities
4.8.2 Market Size and Forecast, by Region
4.8.3 Market analysis by country
4.9 Others
4.9.1 Key market trends, growth factors and opportunities
4.9.2 Market size and forecast, by region
4.9.3 Market analysis by country
CHAPTER 5: LUBRICANTS AND GREASES MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Energy generation
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Automotive
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Heavy equipment
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Food and beverages
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
5.6 Manufacturing of chemical products
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market analysis by country
5.7 Others
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market analysis by country
CHAPTER 6: LUBRICANTS AND GREASES MARKET, BY REGIONS
CHAPTER 7: BUSINESS LANDSCAPE
7.1. Introduction
7.2. The main winning strategies
7.3. Product mapping of top 10 players
7.4. Competitive dashboard
7.5. Competitive heat map
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
For more information on this report, visit https://www.researchandmarkets.com/r/4os004-grease?w=5
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