Massive Industrial Growth, Followed by Growing International Passenger & Freight Traffic, Economic Development & Rising Income of Middle-Class to Drive the Lubricants Market: Ken Research

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Lubricants are substances used for reducing friction, wear & tear of the operating parts of machines. The property of reducing the friction is known as slipperiness or lubricity. Lubricants are classified into solid lubricants (chalk & wax), semi-solid lubricants (Vaseline & grease), liquid (petroleum oil, vegetable oil and emulsions), and gaseous based on the state of its use. The use possesses property for instance high boiling point, corrosion prevention, low freezing point, high viscosity index, thermal stability, and high resistivity to oxidation. They enlarge the shelf-life of mechanical parts, thus providing higher efficiency. These are employed to ease smooth operation of mechanical parts & eliminate any excesses deposited on these parts.

According to study, “Automotive Engine Oil Market” some of the major companies that are currently working in the Global lubricant market are Al Jomaih and Shell Lubricating Oil Company Limited, Abu Dhabi National Oil Company, Alhamrani-Fuchs Petroleum Saudi Arabia Limited, BP, Co-operation Petroleum Co. (Copetrole), Behran Oil Company, Emarat Misr, Emirates National Oil Company, Emirates Lube Oil Co. Ltd., ExxonMobil, Misr Petroleum Company, Iranoil Oil Company, NAFTAL, Petromin Corp., Pars Oil Company, Sepahan Oil Company, ADNOC, Chevron, Total, ENOC, Castrol, Rulexx Lubricants and Grease Ind llc, LUKOIL, MAG Lubricants, Lubrex FZC, DANA Lubricants, AXCL Lubes, Sharafco Group of Companies, Emirates Lube Oil Company Ltd., Atlantic Grease and Lubricant, Crystal Petroleum, SHARLU, Petrotek, Aljazeera Lubricants LLC, Universal Lubricants, Stanley Lubricants.

Automotive Engine Oil Market

Based on the type, lubricant market is segmented into synthetic lubricant, semi-synthetic lubricant and mineral lubricant. Mineral products include large number of hydrocarbon compounds & organic compounds of sulfur, oxygen, and nitrogen. These hydrocarbons can outcome in the development of acid, dirty oil, and oxidation instability. Based on the product type, the market is separated into automotive oils, metalworking fluids, industrial oils, hydraulic oils, marine oils, process oils, and greases & others. The automotive engine oil market segment is further sub-segmented into transmission oils and engine oils. Based on the additives, market is segmented into dispersants, detergents, viscosity index improvers, anti-wear additives, friction modifiers, antioxidants and others.

Based on technology, market is segmented into fractionating, sedimentation, additives or inspection & packaging and filtering & solvent extractions etc. Based on vehicle types, market is breakdown into light commercial vehicles (LCVs), passenger cars, heavy commercial vehicles (HCVs), and others (motorbikes). Based on channel of distribution, the market is divided into direct sales, workshops and dealer network. Based on application, market is defined as industrial machinery & equipment and transportation (passenger vehicle, commercial vehicle, aviation and marine).

The lubricant market is primarily driven by the massive industrial growth, followed by growing international passenger & freight traffic, economic development & rising income of middle-class people and increase in export of minerals & crude oil to drive the lubricant’s demand in the marine sector. Apart from the major benefits, other key restraints impacting the market may include political unrest in some of the region’s countries, lack of awareness among automotive lubricant consumers and increasing use of synthetic & semi-synthetic lubricants.

To know more, click on the link below:-

Market Share Major Companies Lubricant Industry

Related Report:-

India Industrial Lubricants Market Outlook to 2023 – Expected Tailwinds from Construction, Automotive and Tire Manufacturing along with Surging Penetration from International Companies

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