Lubricants are very important for the proper functioning of a machine. The primary function of lubricants is to reduce friction, and wear & tear. Lubricants protect against sludge formation and residual deposition over mechanical parts. They are also used to transfer heat, as seals for gases, transmit power, and prevent rust and corrosion. Lubricants are manufactured from base oils. The desired properties are imparted to lubricants by blending base oils with various additives such as viscosity index improvers, dispersants, and detergents. Lubricant additives improve the functioning and lifespan of lubricants.
Read Report Overview @
The global lubricants market study analyzes the demand for lubricants and provides estimates and forecasts for the market in terms of consumption. In order to provide a holistic view, the market has been segmented on the basis of products and applications. The product segments of the global lubricants market included in the report are mineral oil, synthetic, and bio-based. Base oils used for manufacturing mineral oil lubricants are obtained from refining crude oil. Base oils are of various types: group I, group II, and group III. These base oils are distinct from each other in terms of sulfur content (%), viscosity index, and saturates (%). Group I base oil is the least processed base oil, and has the lowest quality. Hence, the finished lubricants containing group I base oils have low performance levels.
Synthetic lubricants are synthesized under controlled conditions to instill desired properties in them. Bio-based lubricants are manufactured from animal and vegetable oils. They are the most expensive lubricants. Key application segments analyzed in the study include automotive oils, industrial oils, metalworking fluids, grease, and other lubricants. In this report, the data for various products and applications has been provided for the period 2013 – 2020. Market data has been provided on a regional level for North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW). The regions included in RoW are Latin America and Africa.
Request Report Brochure @
The report also includes value chain analysis of the market along with Porter’s Five Forces model. The value chain of the global lubricants market provides a glimpse of various raw material suppliers, downstream players, and distributors involved in the business as well as their interaction with the ultimate end users of the product. Porter’s Five Forces analysis helps in understanding the five major forces that affect the industry structure and profitability of the global lubricants market. The forces analyzed in the global lubricants market report include bargaining power of suppliers, bargaining power of buyers, threat from new entrants, degree of competition, and threat from substitutes. The company market share analysis provides a comprehensive competitive landscape. The report analyzes the market attractiveness by product type. The market attractiveness analysis, by product, involves benchmarking and ranking of each product segment on the basis of numerous parameters. The parameters selected are likely to have a prominent effect on the demand for each type of lubricants during the forecast period.