Automotive Lubricants Market Overview, Trends, Opportunities, Growth and Forecast 2021-2026

[mark smith]

According to IMARC Group latest report titled” Automotive Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited negative growth in 2020. The global automotive lubricants market to grow at a CAGR of around 3% during 2021-2026. Automotive lubricants refer to fluids that are widely utilized to reduce the friction between two surfaces to prevent wear and tear of automobile components. They are commonly formulated using specialized oils and additives that are derived from petroleum sources. They are also employed to significantly minimize the heat generated between numerous parts to enhance the efficiency and functioning of critical components, including engines, bearings and hydraulic gears. Engine oils, transmission fluids and grease oils are some of the widely utilized automotive lubricants across the globe.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

The global market is majorly driven by significant growth in the automotive sector. The increasing adoption of high-end automobiles has prompted customers to utilize premium high-performance engine oils for lubricating internal combustion engines. Furthermore, the advent of chemical-free and bio-based automotive lubricants in the market is creating a positive outlook for the market as they offer superior lubricity while minimizing the adverse environmental effects caused due to the utilization of synthetic product variants. Some of the other factors contributing to the market include extensive research and development (R&D) activities and the growing preference for high-viscosity automotive lubricants among end users.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

• Amsoil Inc.
• BP plc
• Chevron Corporation
• China National Petroleum Corporation
• Exxon Mobil Corporation
• Fuchs Group
• Petronas Lubricants International Sdn Bhd
• Phillips 66 Company
• Royal Dutch Shell plc
• SK Lubricants Co. Ltd.
• Total SE
• Valvoline Inc

Automotive Lubricants Market Segmentation:

Our report has categorized the market based on region, product and vehicle type.

Breakup by Product:

• Engine Oil
• Gear Oil
• Transmission Fluids
• Brake Fluids
• Coolants
• Greases
• Others

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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