Latest News- Lubricants Market: Automotive oils is expected to lead the Application segment during 2025-2029

The Lubricants Market is being driven by Increasing demand for lubricants from end-user industries

The Lubricants Market is expected to grow at a CAGR of 3.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 26.7 billion. The global lubricants market is witnessing a significant trend towards the adoption of bio-based lubricants. These eco-friendly alternatives to traditional petroleum-based lubricants offer numerous benefits for both end-users and manufacturers. Bio-based lubricants are manufactured using renewable resources and are biodegradable, resulting in a cleaner and less toxic work environment. They also have lower maintenance, storage, and disposal requirements, leading to cost savings over the product lifecycle. Additionally, bio-based lubricants boast higher flashpoints, constant viscosity, and reduced oil mist and vapor emissions, ensuring improved safety. Companies are increasingly focusing on reducing the adverse environmental impacts of lubricants by addressing bioaccumulation and eco-toxicity. The use of bio-based lubricants can significantly reduce pollution from stormwater runoff generated by engines, hydraulic systems, and brake line leaks. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Automotive oils
  • Industrial oils
  • Process oils
  • Metalworking fluids
  • Greases
• Product
  • Mineral oil-based lubricants
  • Synthetic lubricants
  • Bio-based lubricants
• Grade Type
  • Group II
  • Group III
  • Group I
  • Group IV
  • Group V
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for lubricants from end-user industries
• Increasing need for reliable machinery and its effective maintenance
• Growing global marine industry

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in crude oil prices
• Negative environmental impact of lubricants
• Increasing adoption of electric vehicles

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Market Scope in Lubricants Market Research Report

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Research Analysis Overview

The lubricants market encompasses advanced materials and technology, including material science, nanotechnology, and friction reduction through lubricant additives. It caters to various industries such as power generation, renewable energy sources, and vehicle production, focusing on engine performance optimization, wear resistance, and energy efficiency solutions. Sustainable manufacturing, circular economy, and industrial design are key trends, with a shift towards bio-based lubricants, alternative fuels, and green technology. Hydraulic fluid technology, industrial equipment maintenance, energy storage, and lubrication systems are essential components. The future of lubrication lies in advanced formulations, longer lubricant life, and reducing carbon footprint through renewable energy sources, aerospace applications, and hybrid vehicles. Lubricant analysis plays a crucial role in ensuring optimal performance and longevity.

Market Research Overview

The global commodity chemicals market encompasses businesses primarily engaged in the production of industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this sector excludes companies producing diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. Key growth drivers in the commodity chemicals market include the rising demand for high-quality lubricants in various sectors, including vehicle and industrial activities, and the increasing adoption of advanced renewable energy systems in hydroelectric plants. Consumer preferences for superior temperature stability in lubricants are also fueling market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/