Albany, NY -- (SBWire) -- 09/04/2018 --The global independent lubricant manufacturers market is largely consolidated, as the top four vendors accounted for a combined share of almost 58.0% in 2016, finds Transparency Market Research (TMR). The frontrunner in the market is FUCHS, a German-based multinational company and one of the largest independent lubricant manufacturers, who held a substantial revenue share of around 37% in the same year.
View Report Preview:
https://www.transparencymarketresearch.com/lubricant-market-opportunity-analysis-independent-manufacturers.html
Some of the leading players are Forsythe Lubrication Associates Ltd., Motul, Carlube, BVA Oils, AMSOIL INC., and ADDINOL Lube Oil GmbH. In spite of the sway held by a handful of top players, the marked presence of a number of small players and a number of new entrants is likely to account for elevating competitive landscape in the coming years. Players in general consider product pricing and distribution channels as few key determinants of the prominence in the overall market. Top players are aiming at offering innovative products in order to gain a better foothold in the market. Furthermore, several manufacturers and vendors are expected to shift their focus to emerging economies to capitalize on promising avenues in the coming years. The advent of bio-based lubricants and their vastly rising demand are opening lucrative prospects in these regions.
The various application areas served by independent lubricant manufacturers comprise aerospace, marine, industrial sector, and automotive. Of these, the automotive industry leads the pack, contributing the dominant revenue share in the global market, indicated by the vast uptake of lubricants in the industry. This is attributed to an extensively rising demand for lubricants manufactured by independent manufacturers among automotive players world over.
Regionally, Asia Pacific is projected to be the most attractive market and is expected to witness a steady growth throughout the assessment period. The growth is attributed to the burgeoning automotive industry and the marked presence of suppliers of base oils. The low cost of labor in key in emerging economies is also expected to boost this regional market.
The global independent lubricant manufacturers market was worth US$6,800.79 million in 2016 and is projected to touch a valuation of US$9,454.04 million by 2025 end. The worldwide market is anticipated to rise at a CAGR of 3.80% from 2017 to 2025.
Burgeoning Demand in Automotive Industry to Accentuate Growth
The global independent lubricant manufacturers market is primarily driven by wide demand for lubricants and oils in the automotive industry in various parts of the world. The extensively rising demand for metalworking fluids and lubricants among consumers in industries such as aerospace, marine, industrial and automotive sectors is a key factor boosting the market. The vast strides undertaken by the automotive sector in emerging economies world over is a key factor accentuating the demand for lubricants by independent manufacturers.
The intensifying demand for high quality lubricants among various end-use industries to increase the efficiency and performance of their products is catalyzing the growth of the independent lubricant manufacturers market. In the coming years, soaring awareness supported by stricter implementation of governmental regulations pertaining to the use of environmental-friendly lubricants and metalworking fluids are notable developments boosting the market.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1742
Marked Fluctuations in Cost of Feedstock to Hamper Demand
The fluctuating price of raw materials and the cost of feedstock used for manufacturing lubricants in various regions has negatively affected the market to an extent. This has led to marked price fluctuations of the final products, hampering their demand in emerging economies with price-sensitive consumers. Nevertheless, the rising popularity of bio-based lubricants and oils with additives is a significant factor expected to provide a potential fillip to the growth of the market. The expected decline in cost of bio-based lubricants in the forthcoming years bodes well for the overall market.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Independent Lubricant Manufacturers Market (Type – Mineral Lubricants, Synthetic Lubricants, and Bio-based Lubricants; Application – Automotive, Aerospace, Marine, and Industrial) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025."
Independent Lubricant Manufacturers Market: Rapid Emergence of Bio-Based Lubrications Boost Market