The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Automotive Lubricants. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Lubricants Market across various industries and regions.
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Automotive lubricants dominate the global lube consumption, which in 2018 reported sales of over 40 million tons. Automotive lubricants accounts ~ 55% of the global lubricants market and the demand for high-quality lube is expected to create significant opportunities over the long-term forecast period.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Lubricants market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Lubricants
This newly published and insightful report sheds light on Market Insights of Automotive Lubricants, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Lubricants Market. The study offers an inclusive analysis on diverse features including demand, revenue generation, and sales by key players in the automotive lubricants market across the globe.
A comprehensive study on the automotive lubricants market has been done through an optimistic scenario and a conservative scenario. The analysis and estimation of price point comparison by region with the global average price has been included in this study.
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Automotive Lubricants Market: Segmentation
Fact.MR has segmented the automotive lubricants market on the basis of lubricants, base oil, vehicle and region
- Engine Oil
- Gear Oil
- Brake Oil
- Other Fluids
- Fully Synthetic Oil
- Semi-synthetic Oil
- Mineral Oil
- Midsize Vehicles
- Compact Vehicles
- Premium Class Vehicles
- Luxury Vehicles
- Other vehicle types
- North America
- Latin America
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Asia to Account for 40% of the Market Share
Asia dominates the automotive lubricants market accounting ~ 40 percent share of the global market. Due to an increase in automobile ownership levels, incorporation of advanced engines, and consistent investments in transportation activities, Asia’s supremacy is set to continue in the automotive lubricants market.
Furthermore, China is the biggest automotive lubricants market, followed by the United States and India. In India, there is a significant potential for growth of the automotive lubricants market. Additionally, India is expected to show a growth rate of around 6% annually.
Factors such as rise in private transport, increasing economic stability and consumer affordability are surging the usage of vehicles and are set to drive the automotive lubricants market across all geographical regions. North America and Europe is expected to witness stagnant growth in the automotive lubricants market.
Industrial Expansions to Meet Market Demands
Royal Dutch Shell PLC, holds a significant share in the automotive lubricants market. The company sold 4,400 kilotonnes of finished lubricants in 2017. Furthermore, to align with the market demand, on 15th April 2019, Saudi Aramco (Saudi Arabian Oil Company) announced that it will acquire ~ 17% stake of Hyundai Oilbank, located at South Korea. The plant has the manufacturing capacity of 237 million barrels of refined crude oils and base oils.
In the 1st quarter of 2019, ExxonMobil finished its new project at Rotterdam refinery, thus, became the world’s largest base stock producer of group 1 and group 2 base oils.
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More Valuable Insights on Automotive Lubricants Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Lubricants, Sales and Demand of Automotive Lubricants, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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