Market outlook of the mineral-oil-based lubricants market

Lubricants are materials that are used to reduce the friction between surfaces. The global market for mineral-oil-based lubricants is augmented by the increasing use of mineral-oil-based lubricants in a number of applications across various industries, which results in its moderate market growth rate of approximately 2% by 2019.

Augmented demand from the automotive industry is the key driver for the growth of this market. In the automotive sector, lubricants are extensively used as it helps to increase the performance and fuel efficiency of a vehicle. These lubricants are made up of base oils and performance-enhancing additives that aid in the smooth movement of the moving parts. The recent increase in vehicle ownership is expected to result in the increased demand for lubricants, which in turn will drive market growth during the forecast period.

Segmentation by type and analysis of: solid, semi-fluid, & fluid

In this market study, Technavio market research analysts estimate the fluid type mineral-oil-based lubricants segment to account for more than 61% of the total market share by 2019. This segment is expected to continue its market dominance during the forecast period because of its lower manufacturing cost and its increased application across various industries like automotive and manufacturing.

This market research information offers an analysis of each of the following segments and discusses its impact on the overall market growth -

• Solid
• Semi-fluid
• Fluid

Geographical segmentation of the mineral-oil-based lubricants market

• Americas
• EMEA
• APAC

Geographically, the APAC region is estimated to account for the largest market segment during the forecast period. By 2019, this region is estimated to account for nearly 44% of the total market share and factors like rapid industrialization and growth in the automotive sector promote the prospects for growth in APAC during the forecast period.

Competitive landscape and key vendors:  BP, CNPC, ExxonMobil

Analysis of the vendor landscape has shown that this market is highly fragmented and consists of multiple local and international vendors. Independent lubricant companies that majorly concentrate on manufacturing and marketing lubricants are expected to gain maximum market prominence during the forecast period.

Leading vendors in this market are -

• BP
• CNPC
• ExxonMobil
• Royal Dutch Shell
• Saudi Aramco

Other prominent vendors analyzed in this global market research are Fuchs Petrolub, Gazprom, Idemitsu Kosan, JX Holdings, NK Lukoil, PetroChina, Petronas Chemicals Group Berhad, Sinopec, and Total.

Key questions answered in the report include

• What will the market size and the growth rate be in 2019?
• What are the key factors driving the mineral-oil-based lubricants market?
• What are the key market trends impacting the growth of the mineral-oil-based lubricants market?
• What are the challenges to market growth?
• Who are the key vendors in the mineral-oil-based lubricants market?
• What are the market opportunities and threats faced by the vendors in the mineral-oil-based lubricants market?
• Trending factors influencing the market shares of APAC, EMEA, and Americas?
• What are the key outcomes of the five forces analysis of the mineral-oil-based lubricants market?

Technavio also offers customization on reports based on specific client requirement.

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