Automotive Lubricants Market 2019 | Emerging Trends, Highlights and Challenges Forecast 2027

Market Insights:

Automotive Lubricants are an essential part of maintaining optimum efficiency when using automobiles. The automotive industry has been expanding at a truly rapid pace which has resulted in an increased demand for Automotive Lubricants. Market Research Future has revealed several important findings in its newest report on the Global Automotive Lubricants Market. Growth of the market is expected to witness a steady, upward trend.

Global sales of automotive vehicles have increased significantly, and expansion of the commercial sector has resulted in increased sales of commercial vehicles. Increasing urbanizations across the world, and a rise in disposable incomes in emerging economies has increased sales of passenger automobiles which has directly impacted the Automotive Lubricants Market. The expansion of the commercial sector has been influenced by the economic growth in developing countries. Increasing popularity of motorsports and auto racing have also been found to contribute to the increased demand for automotive lubricants. Automotive Lubricants are vital in increasing vehicular performance and have the ability to reduce engine wear, thus contributing to a longer life and efficient running of automotive vehicles. These advantages act as drivers of the Automotive Lubricants Market.

Biolubricants are increasingly witnessing applications in the automotive industry. Rising environmental concern is expected to reveal new opportunities in the near future. Moreover, market players are consistently developing new and improved lubricants which will drive market growth.

Key Players:

Chevron Corporation, Fuchs Lubricants Co., ExxonMobil Corporation, ConocoPhillips Corporation, and BP Plc are among the leading market participants that have been included in MRFR’s competitive analysis.

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Latest Industry News:

Tata Motors & Gulf Oil have signed an agreement to launch a lubricant range aimed at passenger vehicles in India. The co-branded lubricant range is expected to cater to the expanding sales of passenger vehicles in the region.

HollyFrontier is poised to acquire Sonneborn in an effort to bolster its positioning in automotive lubricants market.

Market Segmentation:

The Global Automotive Lubricants Market report by MRFR has included several key segments which contribute to market structure. Segmental analysis of the market has been done on the basis of type, vehicle, and region.

Types of automotive lubricants include transmission fluids, engine coolant, grease, gear oil, engine oil, and others. These lubricants perform various functions to help maintain smooth functioning of automotive vehicles. Some examples of their varied applications include the use of gear oil for smooth transmission, while engine coolants are used to absorb heat from the engine to avoid overheating.

Vehicles which use automotive lubricants include light, commercial, and heavy vehicles. Use of lubricants in vehicles ensures optimization of fuel consumption as well as reduced carbon emissions.

Regional Analysis:

The Asia Pacific has captured a significant share of the market and has earned a leadership position for itself in the Global Automotive Lubricant Market. Countries such as South Korea, India, China, and Japan are key markets within the APAC due to the rapid growth of the automotive industry in the region. The economic growth in the region and increasing industrialization has led to the expansion of the transportation sector, thus driving increased demand for automotive lubricants. Moreover, the region has an immense population and an expanding middle class which is increasingly urbanizing. Consumers in the region, due to above-mentioned factors have a rising disposable income which has increased the demand for light passenger vehicles.

Additionally, the APAC has been established as a manufacturing hub for automotive vehicles. This is expected to have a positive impact on the market.

Europe and North America are mature markets, and the developed countries in these regions have somewhat reached their saturation point. However, these regions hold great promise in the rapidly developing economies present in the region. The European market is witnessing increasing opportunities for growth in Eastern Europe. Meanwhile, North America comprises the U.S, Canada, and Mexico. The U.S is a developed country with a saturated market with a large automotive sector and several leading market players. Mexico and Canada represent growth opportunities for the market over the forecast period.

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Automotive Lubricants Market | Revenue, Key Players, Supply-Demand, Investment Feasibility and Forecast 2027

Industry Updates:

Sep 2018 Petronas Lubricants International (PLI) division has recently invested in a new facility, that has been developed with an investment of US$60 million and also reportedly incorporates state-of-the-art laboratories, equipment, and facilities for the development of new fluid technologies. The center is expected to enhance its ongoing work with over 45 automotive original equipment manufacturers (OEM) in designing engines and their fluids together for markets worldwide and diversifying PLI’s product portfolio.

Competitive Analysis

The critical success factors and players’ predilections are progressively increasing by the strategies being used by market competitors. The progress patterns are revised in tandem to the customer preferences to realize maximum growth, and in the long run, profitability. The change in the services and products is the chief factor intensifying the market's efficiency and controlling the trends that are acquiring distinction in the market. Also, the launch of new products and services will add additional impetus to the market progress. Furthermore, the expansion of new products and services will add further impetus to the market growth. The improvement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The central success factors and players’ predilections are consistently growing by the strategies being used by market contenders.

The distinguished contenders in the Automotive Lubricant Market are Chevron Corporation (U.S.A), Royal Dutch Shell plc (Netherlands), ExxonMobil Corporation (U.S.A), ConocoPhillips Corporation (U.S.A), BP plc (U.K.), IDEMITSU Kosan Co. Ltd. (Japan), LUKOIL Oil Company (Russia), Fuchs Lubricants Co. (U.S.A), Total S.A. and Valvoline (U.S.A) amongst others.

Automotive Lubricants Market – Overview

The extensive developments witnessed in the Automobile Industry have had far-reaching results in the market for supplementary and accessories markets connected to this market. Market reports linked with the chemicals and materials industry have been made available by Market Research Future who publishes reports on other sectors that have been presently put out along with a report on this industry. The market is set to plot a positive growth phase with an incremental CAGR in the forecast period.

The rising buying power fuelled by a rise in per capita levels in developing and advanced economies has spurred the demand for automobiles and also has positively reflected in the growth trends for the Automotive Lubricant Market. 

The changing models of automobiles in response to customer preference has also enabled diversification of the Lubricant Market. Improvement in product quality and variants is ensuring the diversity of the product portfolio while increasing the opportunities for progress. Expansion of manufacturing facilities has positively affected the growth of the Automotive Lubricant Market. Escalating demand for passenger and commercial vehicles is expected to accumulate long-term benefits for the automotive lubricant market in the duration of the forecast period.

Segmental Analysis

The Global Automotive Lubricants Market has been segmented on the basis of Type, Vehicle and Region.

On the Basis of Type, the market is segmented into engine coolant, gear oil, grease, transmission fluids, engine oil, and other fluids.

On the Basis of Vehicle, the Automotive Lubricant Market has been segmented as light, commercial, and heavy.

The segmentation of the market on the Basis of Regions comprises of Asia Pacific, Europe, North America and Rest of the World.

Detailed Regional Analysis

The regional analysis of the market consists regions such as Asia Pacific, Europe, North America and Rest of the World. The Asia Pacific region is one of the leading regions for the Automotive Lubricants Market. The growing demand owing to rising population in the Asia Pacific region is one of the significant factors for high growth in this region. The North American and European region are one of the saturated markets that are displaying stable growth in the Automotive Lubricants Market. The escalating demand for Automotive Lubricants accounts for the significant increase along with factors such as environmental advantages. The accelerating number of automotive vehicles in use will also create increased profits in the duration of the forecast period.

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Automotive Lubricants Market 2018 Overview, Outlook, Segmentation, Applications, Forecast, Analysis 2027

Industry News

British Petroleum Plc. is planning to get into a swap deal with ConocoPhillips. BP Plc. is in considerations of undertaking Conoco’s 24 percent interest in the Clair field. In exchange, ConocoPhillips is likely to take BP Plc.’s assets based in Alaska. This will help both the companies focus on the projects that yield higher outputs.

Russia based Lukoil, owner of Neftochim Burgas refinery in Bulgaria, is planning to construct a petrochemical complex at the site of the refinery. It is intended to be an upgrade compared to the old production unit. The company has undertaken this expansion to increase the access to cheap raw materials and to quench the demand for polypropylene complex in the markets of Bulgaria. This would be profitable for the company and in turn, will increase the value added.

Strategically, competing companies have economically invested heavily in R&D activities to develop advanced products to cater to the demands of the market. Various strategies are adopted to retain and expand their market share. The main approach of most companies within the Global Automotive Lubricant Market is that of expansion and entering into merger & acquisition as well as swap deals which allows two parties to exchange financial instruments. These strategies are widely adopted to achieve operational efficiencies and also spread their geographical presence in the global market. The market demands regular product innovation for product diversification and hence help secure a strategic market position.

Market Segmentation

The Automotive Lubricants Market is segmented by type into gear oil, engine oil, grease, engine coolant, transmission fluids, and other fluids. Gear oil is a type of lubricant which is made specifically for transfer cases, transmissions, and differentials in trucks, automobiles, and various types of machinery. Basic properties include high viscosity and usually contains organosulfur compounds. On the other hand, engine coolant is a water-based liquid that tends to absorb the heat from the engine; then the coolant turns hot itself which is then transferred to a radiator located at the front of the car. Engine coolant is the best option rather than using water in the cars, as water is corrosive and destroys the inside of the engine and the water pump.

By Vehicle, the market has been segmented into light, commercial, and heavy. High-performance lubricants are used to ensure that the vehicle works on optimized fuel consumption, increased torque, and reduced carbon emission.

Regional Analysis of Automotive Lubricants Market

Asia-Pacific is one of the dominant regions for the Automotive Lubricants Market. Increasing demand due to increasing population in the Asia-Pacific region is one of the key factors for the high growth in this region. North America and Europe being one of the saturated markets are showing steady growth in the Automotive Lubricants market.

North America

U.S.

Canada

Mexico

South America

Brazil

Argentina

Venezuela

Rest of South America

Europe

U.K

Netherlands

France

Italy

Rest of Europe

Asia– Pacific

China

India

Indonesia

Malaysia

Rest of Asia Pacific

Middle East

Saudi

UAE

Kuwait

Qatar

Rest of Middle East

Africa

Nigeria

Egypt

Rest of Africa

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Automotive Lubricants Market 2018 | Potential Growth, Size & Share, Demand and Analysis of Key Players- Forecasts To 2027

The Automotive Lubricants Market is growing at the rapid pace; mainly due to the burgeoning Automotive Industry.  Market Research Future (MRFR), in its recently published study report, asserts that the global market for Automotive Lubricants has witnessed continued demand during the last few years and is projected to gain prominence over the forecast period. The market is forecasted to perceive a massive growth by 2027, surpassing its previous growth records in terms of volume and value with a phenomenal CAGR during the anticipated period (2017-2027).

Increasing the number of automobiles globally and the rapid surge in commercial activities has been one of the key driving force propelling the Global Automotive Lubricants Market.  Also, growing number of passenger cars, increasing popularity of Motor Sport and Auto Racing have also supported the growth of the Automotive Lubricants Market. Besides, the increasing demand for passenger and commercial vehicles is expected to fuel the demand in the market. Moreover, the increase in inclination of consumers towards efficient and easy transportation needs further boosts the growth for this market.

Additional factors substantiating the market growth include increasing per capita income and augmenting demand for commercial utility vehicles; the Automotive Lubricants Market has witnessed major developments. However, paramount concerns pertaining to the environmental hazards associated with the mineral oil lubricants are expected to present challenges to the market growth in the developed and the developing countries. Adversely, investments in R&D activities to produce novel lubricants are expected to provide opportunities for growth in the future.

Global Automotive Lubricants Market – Segments

The MRFR analysis is segmented into three key dynamics for the convenience of understanding;

By Types: Comprises Engine oil, Gear oil, Grease, Transmission fluids, and Engine coolant, among other fluids.

By Vehicles: Light, Commercial, and Heavy Vehicles.

By Regions: Comprises Geographical regions - North America, Europe, APAC, and the Rest-of-the-World (RoW).

Automotive Lubricants Market – Geographical Analysis

Globally, the Asia Pacific accounts for the leading market for the Automotive Lubricants, capturing the largest market share.

With the rapid expansion in the automotive sector in the developing nations such as India, China, and Japan, the market players have been focusing on developing technologically advanced and powerful product to gain high performance and torque.

Additionally, the presence of matured original equipment manufacturers (OEM) provides impetus to the growth of the market in the region, with a strong base for the robust development. India, being the research hub of Asia, leads the innovation in the market. Rising unit sale in developing economies such as India and China are substantiating the demand for these lubricants in the region.

North America and Europe regions being one of the saturated markets are showing steady growth in the Automotive Lubricants Market.

Automotive Lubricants Market - Competitive Landscape

Several large and small players having regional and global presence form the competitive landscape in the market.  These players compete on the quality, market reach, financial resources, and pricing, whereas, innovation, brand reinforcement, and mergers & acquisitions remain the prevalent trends for the leading players operating in the Global Automotive Lubricants Market. The market will witness fierce competition due to the expected extensions in product & service and product innovations.

Well established players partner with the raw material suppliers to provide the best-quality lubricants, they invest heavily in the R&D to develop the adept technologies that are completely on a different level compared to their competition, and to support their packaging system, with unrivalled attractive design.  

    

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