April 13, 2016 - 3:16 PM EDT
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Global Lubricants Market Forecast to 2020 - Increasing Demand for Heavy Duty Vehicles - Research and Markets

Research and Markets has announced the addition of the "Global Lubricants Market Size, Share, Development, Growth and Demand Forecast to 2020 - Industry Insights by Product (Mineral, Synthetic, Bio-Based), by Application (Industrial, Automotive, Grease, Others)" report to their offering.

The lubricants market is growing due to the growing automotive industry, increased consumer awareness and government regulations regarding lubricants. Lubricants are used in vehicles to reduce friction, which leads to a longer lifespan and reduced wear and tear on the vehicles.

The growth of lubricants usage in the automotive industry is mainly due to an increasing demand for heavy duty vehicles and light passenger vehicles, and an increase in the average lifespan of the vehicles. As saving conventional resources and cutting emissions and energy have become central environmental matters, the lubricants are progressively attracting more consumer awareness.

Government regulations are playing an important role in driving the growth of the market. The regulatory authority of the petroleum industry is with the minister of petroleum industries, but for issuing the license, then there is a need for advice and assistance from the Energy Supply Committee (ESC). In the global lubricants market, the standards issued by organizations such as Japanese Automobile Standards Organization and American Petroleum Institute govern the quality of lubricants. However, the arrival of hybrid-electric vehicles is restraining the growth of the market.

The global lubricants market was valued at $88,230.8 million in 2014, and it is expected to grow with a CAGR of 2.6% during 2015-2020. Geographically, the Asia-Pacific market accounted for the largest share in the global lubricants market in 2014. The greatest future opportunities for lubricants market players are Brazil, China and India.

Key Topics Covered:

1. Research Scope & Methodology

2. Executive Summary

3. Market Outlook

4. Global Market Size and Forecast (2011 - 2020)

5. Lubricants Market Breakdown by Geography

6. Competitive Analysis

7. Company Profiles and Strategic Developments

Companies Profiled:

  • BP plc
  • Chevron Corporation
  • China Petroleum & Chemical Corporation
  • Exxon Mobil Corporation
  • Fuchs Petrolub SE
  • Idemitsu Kosan Co. Ltd.
  • LUKOIL Oil Company
  • PetroChina Co. Ltd.
  • Royal Dutch Shell plc
  • Total S.A.

For more information visit http://www.researchandmarkets.com/research/fgm2vv/global_lubricants.

Research and Markets
Laura Wood, Senior Manager
[email protected]
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Sector: Metals and Minerals, Automotive Parts, Lubricants and Greases

Source: Business Wire (April 13, 2016 - 3:16 PM EDT)

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