Finished Lubricants Market Global Industry Analysis 2016 - 2024 Nov 2016 | Page 2

REPORT DESCRIPTION

Global Finished Lubricants Market: Synopsis
Finished lubricants are considered to be high performance lubricants used in applications encountering high heat. The
lubricants are expected to maintain their lubricating qualities at high working temperatures. Finished lubricants offer
safety and performance advantages in hight temperature applications in order to reduce the risk of fire. Typical
applications of finished lubricants include power generation units, hydraulic equipments and other industrial units
employed in several industries. Finished lubricants form an important aspect of the lubricants industry across the globe.
The energy industry is the largest consumer of finished lubricants across the globe.
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Global Finished Lubricants Market: Drivers and Restraints
Finished lubricants are also used in automotive applications such as heavy duty diesel engine oil, transmission oils and
passenger car motor oils. Finished lubricants are also used in several hydraulic applications. The demand for finished
lubricants is expected to be mainly driven by the growing industrial activities and the growth in the demand for
automobiles across the globe. Finished lubricants offer high heat resistance and are effective in high temperature
environments. The use of finished lubricants considerably reduces the risk of fire in these applications. The growth of
emerging economies and the growing industrial activities taking place in the Asia Pacific region is anticipated to drive the
demand for finished lubricants across the globe. Growing population has led to an increase in the demand for electricity in
several regions of the globe. The energy industry is one of the largest consumers of finished lubricants. With the growing
demand for electricity, the demand for finished lubricants is also expected to increase on similar lines. Further, the growth
in the construction industry is expected to propel the demand for heavy machinery, which consequently is expected to
increase the demand for finished lubricants used in hydraulic circuits. Finished lubricants are extensively used in the
hydraulic circuits of various equipments and machinery owing to its favorable properties. Increasing construction activities
in Asia-Pacific, Middle East and Latin America is expected to fuel the growth for finished lubricants used in heavy
machinery.
The demand for finished lubricants is also anticipated to be high from the automotive industry. The recent revival of North
America from economic downturn has led to an increase in the sales volume of automobiles. The growth in the automotive
sales is expected to further spur the demand for finished lubricants across the globe. Asia Pacific is one of the largest
automotive market and accounts for a larger chunk of automotive demand across the globe. The growth of the automobile