Finished Lubricants Market Analysis | 2022-2027

Market Insights

"The finished lubricants market is likely to witness a CAGR of 3.4% during the forecast period."

A lubricant is basically a substance that is introduced to reduce friction between surfaces that are in mutual contact. It lowers the heat generated when the surfaces move. It also aids in transportation of foreign particles, transmission of forces, or heating or cooling of the surfaces.

Finished lubricants are high-performance lubricants. They are employed in high-temperature applications. At high operating temperatures, the lubricants are expected to maintain their lubricating properties.

Growing environmental concerns and increasing demand for automobiles such as passenger cars and buses are expected to drive the growth of the market during the forecast period. Furthermore, safety and performance benefits offered by finished lubricants in high-temperature applications, are some of the other major factors likely to fuel the market growth in the coming years.

Segment Analysis

By Type

"The synthetic lubricants segment accounted for the largest market share."

Based on the type, the market is segmented as mineral oil lubricants, synthetic lubricants, bio-based lubricants, and greases. Synthetic lubricants are expected to capture the lion’s share of the market during the forecast period, as they offer great reliability in high-temperature applications.

Application Trends

"The transportation segment accounted for the largest market share."

Based on the application type, the market is segmented as power generation units, hydraulic equipment, transportation, industrial machinery & equipment, and others. The transportation segment is expected to be the key demand generator for finished lubricants during the forecast period. The segment's growth is primarily due to an increase in the number of vehicles on the road around the world, as well as the ever-increasing demand for transportation, particularly in Asia-Pacific.

Regional Insights

"Asia-Pacific accounted for the largest market share."

In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The growth of the region's market is owing to the region's growing population, which is accompanied by increased spending in the industrial sector and infrastructural developments in the emerging markets of China and India. North America, on the other hand, is expected to grow significantly over the forecast period due to rising demand for finished lubricants in automotive, energy, and industrial applications in the region.

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Key Players

Some of the key players in the finished lubricants market are:

• Royal Dutch Shell Plc
• Exxon Mobil Corporation
• Chemtura Corporation
• Chevron Corporation
• BP Plc
• Chevron Corporation
• Sinopec, Lukoil
• Fuchs Petrolub SE
• NexLube Operating LLC.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

The finished lubricants market is segmented into the following categories:

By Type:

• Mineral Oil Lubricants
• Synthetic Lubricants
• Bio-Based Lubricants
• Greases

By Application Type:

• Power Generation Units
• Hydraulic Equipment
• Transportation
• Industrial Machinery & Equipment
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Options

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Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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