ResearchMoz.us include new market research report " Global Lubricants and Base Oils Market to 2014: Industry Analysis, Size, Shares, Growth, Trends And Forecast" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 12/19/2014 -- The report analyzes the global lubricants and base oil market, with exhaustive discussion on demand of lubricants in different region across the globe in volume terms. The key market challenges recognized by the analysts and the major trends of lubricants and base oil market are presented in the report. Further, key manufacturers of lubricants like Exxon, Shell, Chevron and HPCL are profiled in the report.
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For the lubricants industry, the year 2013 was characterized by oversupply conditions, as companies continued to increase their production capacities while the demand remained stagnant. Asia Pacific is the largest lubricants market followed by North America, Latin America, Eastern Europe, Western Europe, Africa and Middle East. China and India remain the key focus for a number of global lube players for their growth strategy. The automotive lubricants segment is the largest followed by industrial oils, metalworking fluids/corrosion preventives, greases and process oils.
Factors contributing to the growth of lubricants demand include growing vehicle sales, increasing emissions and vehicle safety regulations and rapid industrialization. Bio lubricants and synthetic lubricants are also becoming popular.
The lubricant market is dominated by the oil majors. Some of the leading companies operating in the global lubricants market include Royal Dutch Shell, Exxon Mobil Corporation, British Petroleum, Total, Chevron Corporation, Fuchs Lubricants, PetroChina and Sinopec.
Among the base oils, Group I Base Oil accounts for more than half of the total base oil production, but the trend towards better and efficient lubricants is resulting in substitutability of Group I to Group II and Group III base oils. Further, technological shifts and tighter environmental requirements are also facilitating the shift to Group II and Group III base oils and this could be evident from major capacity additions of the two groups of base oils in the year 2014.
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