Lubricants Market, By Base Oil (Bio-Based, Mineral, Synthetic), By Product Type (Engine Oil Transmission/Hydraulic Fluid, Metalworking fluid, General Industrial Oil , Gear Oil, Grease, Process Oil, Others), By End User (Power Generation, Automotive and Other Transportation, Heavy Equipment, Food and Beverage, Metallurgy and Metalworking, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024

Code : CMI5004

Pages :120

Formats :

Excel and PDF

Industry : Bulk Chemicals

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Challenges: Substitution threat from synthetic and biodegradable lubricants

Synthetic lubricants are posing a serious threat due to their superior properties over conventional mineral oil lubricants. Stringent environmental regulations regarding emission standards and use of bio-based lubricants are further expected to negatively impact demand for mineral oil lubricants.

Opportunities: Growing demand from the transportation sector

Growing demand from the transportation sector due to increasing vehicle fleet is estimated to boost the sales of lubricants. Additionally, rapid industrialization and infrastructure growth in emerging nations of Asia and Africa will propel the demand for lubricants from various machinery and equipment employed. New product launches catering to evolving emission standards also allows companies to gain an edge over competitors.