Transparency Market Research has published a new research “Independent Lubricant Manufacturers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” to their report store.
Albany, NY -- (SBWIRE) -- 12/26/2016 -- The global independent lubricant manufacturers market is led by Fuchs Lubricants in 2012, states a new report by Transparency Market Research. The company is focusing on expanding their business through establishing plants across the globe. Other players in the market are not necessarily those with their own refineries. Many independent lubricant manufacturers source their base oil from other suppliers such as oil refineries and petroleum companies. Players are focusing on marketing and manufacturing high performance products. The development of sustainable products for end user industries will be another area of interest for independent lubricant manufacturers across the globe. Some of the other key players in the market are Carlube, Motul, Liqui Moly, Pentosin, Unil-Opal, Torco, Amsoil, Royal Purple, and Red Line.
According to the report, the global independent lubricant manufacturers market is expected to be worth nearly US$8.5 bn by 2019. On the basis of product, the market is segmented into automotive lubricants and industrial lubricants. Of these, the automotive industry is anticipated to witness a significant growth in the coming years.
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However, in the past, the industrial lubricants segment has led in the market. By geography, the global independent lubricant manufacturers market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Asia Pacific led in terms of contributing the maximum, in terms of revenue in the past, followed by North America and Europe. By end user, the market is segmented into EM units, mining industry, steel industry, and agriculture.
Rising Demand from Automobile Sector to Drive Growth of Independent Lubricant Manufacturers Market
The primary driver of the global independent lubricant manufacturers market is the heightened applications of lubricants in the automotive sector. Another factor fueling the growth of the market is the demand for bio-based alternatives, In addition to this, independent lubricant manufacturers are providing technical assistance, which is also aiding the growth of the market. Moreover, players are investing extensively on research and development to ensure customers get improved products and this is also helping the independent lubricant manufacturers market to grow.
The growth in the number of automobiles sold and the increasing disposable incomes are some of the other factors which are indirectly having a positive impact on the market. In addition to this, many OEM car manufacturers have signed agreements with independent lubricant manufacturers such as Audi, BMW, Porsche, and Mercedes.
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Price Fluctuations in Mineral Oil to Pose Problem
Factors such as the rising volatility in the prices of mineral oil is expected to act as a restraining factor, which will hamper the global independent lubricant manufacturers market. In addition to this, the high price of bio-based lubricants will also hamper the growth of the market in the long run. However, signing of new agreements with independent lubricant manufacturers by OEM car manufacturers is expected to create new opportunities in the market. The growing applications of lubricants in the mining, steel, and agriculture industry are slated to drive the market in the coming years and act as opportunity. In addition to this, Europe has a highly established automotive industry and includes some of the top OEM car manufacturing companies and this will prove to be a lucrative market for the global independent lubricant manufacturers.
The global independent lubricant manufacturers market is segmented as follows:
Independent Lubricant Manufacturers Market by Product
Independent Lubricant Manufacturers Market by Region
--RoW (Rest of the World)
Independent Lubricant Manufacturers Market by End-user Industry
This information is based on the findings of a report published by Transparency Market Research titled "Independent Lubricant Manufacturers Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2013 - 2019."