The lubricants are effective fluids, greases, or oils that decrease the friction among the two surfaces when they are in the communal contact with each other. Such fluids play an essential role in the automotive and industrial applications, as they support to decrease the friction among the functioning parts. They are also utilized to safeguard the machinery parts from the thermal stability, corrosion, and oxidation.
Whereas, the Growth in Industrialization across Asia Pacific and the Middle East & Africa post COVID-19, attached with the augment in procedure automation in most of the industries and the measured augment in number of vehicles on-road are foremost factors expected to influence the worldwide lubricants industry throughout the forecast period.
Although, the industrial lubricants market across India has stretched its maturity stage, therefore meeting requirement expectations of every end user industry (construction and mining, metal production, power generation, general manufacturing, food processing, pharmaceuticals and cosmetics) majorly by importing base oil from foreign regions and by domestically introducing lubricants within India. Over the evaluation period, India industrial lubricants market witnessed a healthy growth both in terms of revenues as well as consumption capacity. The effective growth in the concerns from foremost industries regarding the maintenance of machineries in order to deliver a better quality output has escalated the requirement for synthetic and semi-synthetic lubricants across the country. After facing an economic slowdown throughout the period FY’2016-2017 due to temporary disruptions caused by the demonetization & GST implementation; the market recovered during the FY’2018 with uniform cash flows, informal taxation as well as further growth across India’s manufacturing industry.
Whereas, the competition across Malaysia industrial lubricants market is strenuous with major players involving PETRONAS, Shell, TOTAL dominating the market with foremost competing parameters involving price, quality, after sales support, distribution network and several others. With foremost end user industries positioned in Perak, Johor, Kuala Lumpur and Pahang, majority of industrial lubricants sales were witnessed in these locations. Product price, product excellence, after sale services, marketing strategies, product assortment and specification/technical grade, distribution linkage and terms of payment are the foremost parameter by which market share dominate by major companies in lubricant industry and on the basis of which players contend with each other.
Nonetheless, the Brazil lubricant industry is exceedingly competitive with 3,000+ brands existent in the market. Most of the great local and multi-national corporates have their production plants positioned in the country and few of them are also import some magnitudes of lubricants. The market is discreetly concentrated with the top 5 players namely Petrobras, Iconic, Cosan, Shell, and Petronas registering for a majority share in the market on the basis of sales capacity. Such players contend on the basis of parameters such as product portfolio, distribution network, trade, partnerships, product pricing, and many more.
Nonetheless, automotive engine oil market states that the growing requirement from the automotive segment and the growth of end-user industries likewise construction, manufacturing, plastics, machinery & equipment & metallurgy amongst others are projected to propel the growth of the industry. The implementation of greater quality synthetic & semi-synthetic lubricants is also expected to augment the requirement for lubricants during the future. The lubricant industry is projected to observe further investments in research & development, marketing activities, and also strategic partnerships and associations with other players, OEMs and vehicle insurers to augment market penetration.
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Market Research Reports For Lubricant Market
Ankur Gupta, Head Marketing & Communications