Independent lubricant manufacturers are not controlled by major oil companiesand most of them do not have their own refineries. Theyprocure base oils from major oil suppliers and petroleum companies and then process these oilswith additives to produce lubricants.
Albany, NY -- (SBWIRE) -- 08/09/2016 -- Petrochemical components form the foundation of lubricants, however, derivatives of harvestable, natural feedstock from the oleo-chemical industry are increasingly finding acceptance due to their environmental viability and some technical benefits.
Worldwide, there are about 1,380 lubricant manufactures that range from large to small. Of these, about 180 national and multinational oil companies are vertically integrated petroleum companies with the core business objective of discovery, extraction, and refining of crude oil, whereas 1,200 independent lubricant companies regard lubricants as their core business, mainly concentrating on manufacture and marketing of lubricants.
The research report segments the independent lubricant manufacturers on two fronts – product and geography. For each of the segments, market data on a regional level is provided for the period 2013 to 2019.
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The report presents a holistic picture of the market, analyzing growth trends, challenges, and opportunities that will have a bearing upon the future of the market. Included in the report is market size analytics of lubricants manufactured in terms of volume (Kilo tons) and revenue (USD million).
On the vendor landscape, the study profiles independent manufacturers dealing in lubricants, including company overview, financial standing, and recent developments of each of these vendors.
Overview of the Global Independent Lubricant Manufacturers Market
Increasing applications of lubricants in the automotive sector, rising demand for biobased alternatives and complementary value-added services and technical assistance by independent lubricant manufacturers will drive the industry in coming years.
However, volatile prices of mineral oils and biobased lubricants will hold back the growth of the market. Ongoing research activities in the sector are likely to introduce improved products, thus aiding the overall market growth.
The global independent lubricant manufacturers market is estimated to reach US$8.5 billion by 2019. By demand, the market totaled 4,523.7 kilo tons in 2012 and could reach 5,432.0 kilo tons by 2019, expanding at a CAGR of 2.7% from 2013 to 2019.
Product-wise, the global independent lubricant manufacturers market is divided into two products segments – automotive lubricants and industrial lubricants.
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In 2012, the industrial lubricants segment dominated the overall market. However, in the coming years, the automotive lubricants segment is expected to witness significant growth, predominantly in developing countries.
By end user, OEM units and heavy industries like mining, steel, and agriculture account as the primary end users of products manufactured by independent lubricant manufacturers.
Geography-wise, in 2012, Asia Pacific dominated the global independent lubricant manufacturers market, contributing nearly 40% of the market revenue. APAC was followed by North America and Europe.
In recent years, the steady growth of the automotive industry in the U.S. is likely to create new prospects and thus will lead to growth of the independent lubricant manufacturers market. Europe, where the automotive industry has a long-established existence and also includes some of the major OEM car manufacturing companies, accounts as a principal market for global independent lubricant manufacturers.
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Major Companies in the Global Independent Lubricant Manufacturers Market
Fuchs Petrolub AG, AddinolLube Oil GmbH, Motul, Liqui Moly Gmbh, SRS GmbH, Amsoiland Torco, Lubricants, Pentosin, SCT-Mannol, Unil-Opal, and Red Line are some of the major companies in the global independent lubricants manufacturers market.
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