Category Intelligence on Global Lubricants covers the following
Lubricant prices and availability is highly driven by the lubricant stock (base oil) in the region. The US and Europe have shifted their base oil stock to Group 2 and Group 3 stocks respectively, while Asian and LATAM markets continue using Group 1 and Group 3 stocks
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Asia Pacific's market for lubricants will be driven by the growing population of the region, coupled with the rising economic level. Markets in North America and Australia are expected to decline, as they are mature markets, and due to the decline or average growth in production and sales of vehicles and demand moving away from mineral oil lubricants
Lubricants are used in different industries and applications. The global demand by application report presents the key statistics with regard to the global lubricants market share by end-use industry. It also specifies how the changes in each of the end-use applications have impacted the global lubricant market. Any noteworthy changes to the market dynamic based on application are also listed.
This section of the report gives details of the global lubricants market share. The lubricant market is divided between lubricants, mineral oil, synthetic oil, and specialty lubricants. The report tells us about the countries/regions that are the largest producers and exporters of lubricants and also about the largest importers. The global lubricants market forecast for the growth predicted for each region is estimated. The standout global lubricants market trends and global lubricants market size are examined.
This section analyses the different geographical regions and gives detailed information about the regional market size, price trends, price drivers regionally as well as the forecast for the coming years. If there are any unique market dynamics in the region, they are examined and listed. This part of the report helps understand how each country/region stands within the global lubricants market. For major exporting regions, the share of the countries that they are exporting to is detailed. For countries that rely on imports, the country/region from which they buy lubricants are listed along with their market share.
The key drivers for demand in the lubricants industry are listed. The industries that are driving the market growth are detailed. Market trends that sustain the growth of the global lubricants market are listed. The lubricants market is also constrained by changing demands, technology, requirements, and government regulations. Understanding these potential restrictive forces and how they work in the market is important to fully understand the dynamics of the global lubricants market.
On the capacity front, about 1.4 MMT of capacity is expected to be added to the global lubricant supply base by 2021. Lubricant consumption is expected to decrease over the next couple of years, due to lower demand because of slow global economic growth. The automotive sector (53 percent) is the major driver for lubricant demand. However, demand for specialty lubricants (14 percent) is expected to grow at a faster rate owing to the increasing downstream demand from (a) the industrial sector using specific types of lubricants for their process and (b) from the mining industry, using lubricants for their fleets and to maintain minimal downtime. Specialty grades and price of the base stock have been the major drivers of the trade-in lubricants market. According to lubricant market analysis, some of the factors affecting the market are
The location of storage hubs, technological innovations in the automobile sector that reduces the frequency of oil changes and crude oil supply. The production cost is lowest in Asia due to the availability of cheap feedstock and low labor rates.
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