BlueWeave Consulting Global Lubricants Market Growth Analysis by Indust

Global Lubricants Market Growth Analysis by Industry Size, Share,
Production, Emerging Trends, Consumption, and Top Key Players
2018-2025
According to a new market report published by BlueWeave Consulting, the global lubricants market was
valued at US$ 138.45 Bn in 2017 and is expected to expand at a CAGR of 3.65% from 2018 to 2025,
reaching US$ 185.15 Bn by the end of the forecast period. According to the report, Asia Pacific was the
largest contributor in terms of revenue to the lubricants market in 2017.
Expansion in the automotive and general industry is driving the global lubricants market.
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Lubricants are basically substances that are used to control or diminish friction along with wearing of
surfaces that are coming in contact with various bodies in relative motion. Lubricants are generally
classified into liquid, semi-liquid, solid, and gaseous on the basis of their state. These high-performance
substances are extensively used in several end-user industries as corrosion inhibitors, anti-wear
additives, friction modifiers, viscosity index improvers, and extreme pressure (EP) additives.
The passenger car demand has been rising over the years, according to OICA. Passenger car usage has
increased by 4.4% from 2014-2015. Emerging economies like China, India, Africa, and Mexico has
witnessed exponential growth in terms of passenger car usage for instance in China the passenger car
used has increase from 1,17,482 in 2014 to 1,35,805 in 2015. Rise in number of passenger cars are
influencing the demand for lubricants, as the main purpose of lubricants in passenger car is to smoothen
the moving parts of automobile reducing vehicles friction and wear & tear, providing trouble free
performance for a longer span of time. Thus, rise in demand for passenger car will promulgate
application of lubricants.
Lubricants Market: Scope of the Report
The global Lubricants market is segmented on the basis of type, application, and additives. On the basis
of type, the market is segmented into Mineral Oil, Synthetic Lubricants, Greases, and Bio-Based
Lubricants. Mineral oil was the largest segment in the global lubricants market in 2017 and is estimated
to witness the highest growth during 2018-2025. On the application basis, the market is segmented into
Engine oils, Gear oil, Transmission and Hydraulic Fluid, General Industrial oils, Process Oils, Metal
Working Fluids, and Others. Engine oils accounted for the largest segment in the global lubricants
market in 2017. On the basis of additives, the market is segmented into Dispersants, Viscosity Index
Improvers, Detergents, Anti-Wear Additives, Antioxidants, Friction Modifiers, and Others. Dispersants