Global Lubricants Market Analysis

The ASEAN, GCC, India, Africa lubricants market is anticipated to touch USD 32,633.9 million by 2030, as per an insightful report by Market Research Future (MRFR). It is expected to exhibit a 4.40% CAGR during the assessment period (2021-2030). Increasing demand for lubricants from the automotive sector in the Association of Southeast Asian Nations (ASEAN) and South Africa regions is expected to drive market growth over the forecast period. Expansion of various industries is likely to induce demand for lubricants for the smooth functioning of machinery.

Lubricants are liquids designed to reduce the wear and tear of various parts during runtime. It can ensure smooth functioning of machines at peak speeds with reliability and efficiency. These lubricants cater to needs of automotive and industrial sectors. Investments by players from India and Africa to acquire oilfields to lower crude prices can facilitate market growth. Increasing demand for agricultural equipment in Africa can open up growth opportunities for the market.

Rising environmental concerns regarding the disposal and recycling of lubricants can act as a growth deterrent for the market. Prevalence of electric vehicles is another looming threat which can negatively affect the market.

Report Overview

This report allows the user to gain a deeper understanding of the ongoing events and trends in the ASEAN, GCC, India, Africa market for lubricants. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the ASEAN, GCC, India, Africa lubricants market segmented by base oil, application, end-user, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

Segment Overview

By base oil, the ASEAN, GCC, India, Africa lubricants market has been segmented into mineral oil, synthetic oil, and bio-based oil.  The mineral oil segment valuation is anticipated to touch USD 25,417.2 million by 2023. The role of mineral oil as a coolant in insulators and transformers can act as a catalyst to segment growth. This segment can display a 4.20% CAGR over the forecast period. The bio-based oil segment valuation can reach USD 953.1 million by 2023.

By application, the market is segmented into automotive and industrial. The former is sub-segmented into engine oil, gear oil, transmission fluids, coolants, break oil, and greases. The latter is similarly segmented into greases, compressor oil, general industrial oil, process oil, turbine oil, hydraulic oil, industrial engine oil, metalworking fluids, and others. The automotive application segment is touted to grow at a robust CAGR of 4.35% during the forecast period. Rise in trading, sales of motor vehicles, and increase in expendable income levels of consumers are factors likely to augur segment growth over the forecast period.

By end-user, the market is segmented into food processing, construction and mining, metal production, cement production, textile, general industrial manufacturing, chemical manufacturing, and energy. The energy segment accounted for 24.2% share of the market. It can reach a projected valuation of USD 7,277.9 million by 2023 by growing at a 4.64% CAGR over the forecast period.

The segments and sub-segments covered in the report are analyzed under four major regions – ASEAN, Gulf Cooperation Council (GCC), India, and Africa, with respective country-level market sizing. For the scope of research, the standard definition of the product/service “lubricant” is included in the report. The report discusses and interprets the current and future opportunities of the industry by delivering an unbiased growth assessment.

Players Covered

PetroChina Company Ltd., Morris Lubricants, Indian Oil Corporation Limited, Calumet Specialty Products Partners, L.P, Quaker Chemical Corporation, AMSOIL INC., Valvoline, Inc., Sinopec Corporation, Lucas Oil Products, Inc., Phillips 66 Company, Yushiro Chemical Industry, Chevron Corporation, BP Plc, Exxon Mobil Corporation, Lukoil, Petronas, Clariant, Fuchs Petrolub SE, Rock Valley Oil and Chemical Co., Gulf Oil India, Royal Dutch Shell Plc, Total S.A., and others are noteworthy players in the ASEAN, GCC, India, Africa lubricants market. Players in the market are focusing on strengthening their supply chain by acquiring oilfields and expanding their product offerings to cater to demands from various industrial sectors.

The report offers comprehensive profiles on these market players and assesses their current standing in the ASEAN, GCC, India, Africa lubricants market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.

Research Methodology

Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.

Analysis Period

• Base Year - 2020


• Projection Period - From 2021 to 2030


• Market Denomination - USD Million


• Volume Unit - Kilotons


• Conversion Rate - Considered as per the respective financial years

Intended Audience

• Associations


• Government


• Lubricants manufacturers


• Suppliers and distributors


• Potential investors


• Raw material suppliers


• End Use Industries

For the scope of research, the report offers a comprehensive analysis of the ASEAN, GCC, India, Africa lubricants market.

Base Oil

• Mineral oil


• Synthetic oil


• Bio-based oil

Application

• Automotive
  
  
  
  • Transmission Fluids
  
  
  • Break Oil
  
  
  • Greases
  
  
  • Coolants
  
  
  • Engine Oil
  
  
  • Gear Oil
  
  
  
  


• Industrial
  
  
  
  • Hydraulic oil
  
  
  • Process oil
  
  
  • Industrial engine oil
  
  
  • Turbine oil
  
  
  • Greases
  
  
  • General industrial oil
  
  
  • Compressor oil
  
  
  • Metalworking fluids
  
  
  • Others
  
  
  
  

End-user

• Food Processing


• Construction & Mining


• Metal Production


• Cement Production


• Textile


• General Industrial Manufacturing


• Chemical Manufacturing


• Energy

Region

• ASEAN; Vietnam, Malaysia, Thailand, Singapore, Indonesia, Rest of ASEAN


• GCC; Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain


• India;


• Africa; South Africa, Nigeria, Tanzania, Kenya, Egypt, Ghana, Rest of Africa