18 June 2018
Visiongain has launched a new chemical report The Global Lubricants Market 2017-2027: Forecasts by Type (Mineral Oil, Synthetic Lubricants, Semi-Synthetic Lubricants and Bio Based Lubricants) and Application (Engine Oil, Gear & Brake Oil, Transmission Fluids, Greases, Process Oils, Metalworking Fluids, Industrial Engine Oils and Others such as Polytetrafluoroethylene (PTFE)) AND By Region PLUS Profiles of Leading Companies in the Lubricants Market
A lubricant is any substance that is introduced between relatively moving parts to reduce friction and wear rate. They are used in between two or more bodies which are in relative motion with each other to reduce heat and in turn, help in the life of the machine by reducing the wear and tear in them.
Visiongain understands that the Lubricants Market will register strong growth. The lubricants market is a relatively large market with the majority of the largest revenue generating companies involved in the business, and all the factors analysed in this report illustrate that the industry will continue to exhibit significant growth in the next ten years, providing excellent commercial opportunities worldwide.
The visiongain report analyst commented “There are a number of important factors that are expected to drive the lubricant market over the next decade. The lubricant industry is characterised by brand advertising and recognition, innovation, and premiumization of products, which surge the market share and control the pricing strategy. Asian regions have consumed lubricants in amounts that surpassed the United States and Western Europe, a trend which is expected to continue. The robust increase in population in these regions is also contributing significantly to the future lubricants growth.”
Leading companies featured in the report who are developing Lubricants include ExxonMobil Corporation, Royal Dutch Shell PLC, British Petroleum, Chevron Corporation, FUCHS Lubricants, IndianOil Corporation, PetroChina Company Limited, Valvoline Cummins Limited, Castrol Limited & Total S. A.
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