DUBLIN, December 09, 2021--(BUSINESS WIRE)--The "Automotive Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global automotive lubricants market exhibited negative growth in 2020. Looking forward, the publisher expects the market to grow at a CAGR of around 3% during 2021-2026.
China National Petroleum Corporation
Exxon Mobil Corporation
Petronas Lubricants International Sdn Bhd
Phillips 66 Company
Royal Dutch Shell plc
SK Lubricants Co. Ltd.
Automotive lubricants are fluidic substances used for reducing friction between the surfaces and preventing wear and tear of automobile components. Some of the commonly used automobile lubricants include engine oils, transmission fluids, grease oils, process oils and general industrial oils.
They are further available in mineral, synthetic, semi-synthetic and bio-based oil variants, which are prepared using specialized oils and additives derived from petroleum sources to prevent oxidization and corrosion. These lubricants aid in minimizing the heat generated between parts and improving the efficiency and functioning of critical components, such as engines, hinges, bearings and hydraulic gears. They are also used for brake and fuel systems, body part stamping and transmission manufacturing.
Significant growth in the automotive industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the widespread adoption of high-performance lubricants is providing a thrust to the market growth. Automobile manufacturers use premium high-viscosity engine oils to lubricate internal combustion engines by creating a thin film between moving components and facilitating smooth operations. In line with this, increasing preference for heavy-duty motor vehicle engine oils to sustain extreme geographical conditions and emission standards in on- and off-highway heavy vehicles is also contributing to the market growth.
Additionally, various product innovations, such as the development of chemical-free bio-based automotive lubricants, are acting as other growth-inducing factors. These lubricants provide superior lubricity and aid in minimizing the adverse effects on the environment caused by synthetic lubricants. Other factors, including rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities for improvements in oil quality, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
How has the global automotive lubricants market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive lubricants market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the vehicle type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive lubricants market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Automotive Lubricants Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
7 Market Breakup by Vehicle Type
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/smd42t
View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005624/en/
Laura Wood, Senior Press Manager
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