Global asphalt, lubricating oil and grease market
Dublin, May 04, 2023 (GLOBE NEWSWIRE) — The “Global Asphalt, Lubricating Oil and Grease Market Report 2023” report has been added to the ResearchAndMarkets.com’s offers
The global asphalt, lubricating oil and grease market grew from USD 259.66 billion in 2022 to USD 269.56 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The asphalt, lubricating oil and grease market is expected to grow to USD 301.65 billion by 2027 at a CAGR of 2.9%.
Producers of petroleum-based lubricants offer bio-based lubricants to address concerns associated with the impact of lubricants on the environment. Bio-based lubricants are formulated with renewable or biodegradable materials. Vegetable oils are one of the main components of bio-based lubricants. Vegetable oils offer high lubricity, viscosity and thermal stability.
They have a higher flash point of 326 C compared to the 200 C flash point of mineral oils. Lubricants produced from vegetable oils include tractor transmission hydraulic fluid, industrial hydraulic fluids for process and machinery applications, food grade hydraulic fluids and greases, greases for use in automotive, railway and machinery applications, chainsaw bar oil, gear lubricants, compressor oil, and transformer and transmission line cooling fluids.
The demand for multigrade lubricants is gaining momentum due to their better performance in cold weather conditions. Multigrade lubricant is a viscosity modifier used in engines that allows for a smooth flow of oil in cold and hot weather conditions. It is used to minimize the effect of viscosity change with respect to changes in ambient temperature and maintains optimum viscosity in the engine’s operating temperature range. Some of the major companies that produce this lubricant include Gazprom, Rosneft, Exxonmobil, Petrochina and BP.
Most asphalt companies use frequency inverters in the asphalt mixing process to control the drying time of the asphalt mixture. The frequency inverter is an electronic device that transforms an alternating current with a fixed frequency to variable amplitude and frequency. It is used to vary the rotation speed of the drying drum of the drying plant system, so that the more porous aggregates receive heat from the burning flame for a longer time, resulting in complete drying. It improves the drying process and allows the less porous asphalt to dry faster, increasing production. For example, some of the top companies that use frequency inverters include 3 Franks Services, A. Macchione Brothers, Absolute Asphalt and Concreter LLC, and Ace Asphalt.
North America was the largest region in the asphalt, lubricating oil and grease market in 2022. Asia-Pacific was the second largest region in the asphalt, lubricating oil and grease market. The regions covered in Asphalt, Lubricating Oil and Grease market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covering the asphalt, lubricating oils and greases market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India , Indonesia. , Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, USA, Venezuela and Vietnam.
scope
Markets covered:
1) By Type: Asphalt; Other petroleum products
2) By application: roads; Waterproofing; recreation; Other Applications
3) By end-use industries: energy generation; transportation; Metallurgy and metalworking; Food and drinks; Chemistry; Other end-use industries
Sub-segments covered: Mixtures And Asphalt Blocks; Prepared products for roofing and asphalt and tar coatings; Covering Asphalts And Ceçals, Coatings And Cements
Key Attributes:
|
Report attribute |
Details |
|
Number of pages |
300 |
|
Forecast period |
2023-2027 |
|
Estimated market value (USD) in 2023 |
269.56 billion dollars |
|
Projected market value (USD) for 2027 |
301.65 billion dollars |
|
Compound annual growth rate |
2.9% |
|
Regions covered |
global |
Key topics covered:
1. Executive summary
2. Structure of the report
3. Market characteristics of asphalt, lubricating oil and grease
4. Analysis of asphalt, lubricating oil and grease market products
5. Asphalt, lubricating oil and grease market supply chain
6. Asphalt, Lubricating Oil and Grease Market Customer Information
7. Asphalt, lubricating oil and grease market trends and strategies
8. Asphalt, lubricating oil and grease market – Macroeconomic scenario
9. Asphalt, Lubricating Oil and Grease Market Size and Growth
10. Regional analysis of the asphalt, lubricating oil and grease market
11. Asphalt, lubricating oil and grease market segmentation
12. Asphalt, lubricating oil and grease market segments
13. Asphalt, Lubricating Oil and Grease Market Metrics
14. Asia-Pacific Asphalt, Lubricating Oil and Grease Market
15. Market for asphalt, lubricating oil and grease in Western Europe
16. Asphalt, lubricating oil and grease market in Eastern Europe
17. North America Asphalt, Lubricating Oil and Grease Market
18. Market for asphalt, lubricating oil and grease in South America
19. Market for asphalt, lubricating oil and grease in the Middle East
20. Africa market for asphalt, lubricating oil and grease
21. Competitive Landscape of the Asphalt, Lubricating Oil and Grease Market
22. Key mergers and acquisitions in the market for asphalt, lubricating oil and grease
23. Market Background: Oil Downstream Activities Market
24. Recommendations
25. Appendix
A selection of the companies mentioned in this report includes
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Exxon Mobil
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Royal Dutch Shell
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Saudi Aramco
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BP plc
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Glencore International
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Guardian Industries, LLC
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Owens Corning
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Suncor Energy Inc
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Husky Energy Inc
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CRH plc
For more information on this report, visit https://www.researchandmarkets.com/r/14kbs1
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