Increasing Usage of High Performance Lubricants
Synthetic lubricants offer better and improved properties, in comparison to mineral lubricants, such as low-traction coefficient, reduced power consumption, reduced gear wear, increased service life, and reduced flammability to increase safety, among many others. The adoption of synthetic or high-performance lubricants is primarily being driven by the type of vehicle, cubic capacity of the engine, category of the vehicle, and its age. Additionally, with changes in engine technology, such as engine downsizing, use of turbochargers has increased to meet the emission standards. This will likely augment the market for engine oil during the forecast period.
Extended Drain Intervals
The chemistry and technology involved in the production of engine oil have undergone a tremendous change in the recent times. With the introduction of long-lasting, high-performance lubricants, the interval for oil change has extended almost by 100%. For instance, 60 years ago, the typical oil change interval for a truck was between 500-1,000 miles. But with the advancement in lubricant technology, the oil change interval has currently come to 50,000 miles, and is expected to increase further. This leads to the decrease in consumption of engine oil, and can hinder the market growth.
Demand from Chemical Manufacturing to Expand at a Fast Rate
Some of the requirements of engine oils used in chemical manufacturing are reduced friction, oxidation resistance, mechanical & structure stability, low oil bleed, low-temperature torque, rust and corrosion protection, non-foaming, demulsibility properties to shed water, and low depletion. Due to increasing chemical manufacturing in certain regions, such as Asia-Pacific, North America, and Europe, the demand for engine oils is expected to increase during the forecast period.
Key Developments in the Market:
- November 2017: Gazpromneft-Lubricants, the operator of the Gazprom Neft lubricants business, launched the production of marine lubes under its own Gazpromneft Ocean brand.
- May 2017: Total Lubricants and CLAAS, a major player in the agriculture machinery, renewed its partnership till 2021.
Reasons to Purchase the Report
- Current and future global engine oil market in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel).
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Regulatory Policy Analysis
4. Market Dynamics
4.1.1 Increasing Automotive Production and Sales
4.1.2 Increasing Adoption of High-performance Lubricants
4.2.1 Extended Drain Intervals
4.2.2 Modest Impact of Electric Vehicles (EVs) in the Future
4.3.1 Growing Automotive Industry in Middle East & Africa
4.3.2 Numerous Upcoming Construction Projects In North America and APAC
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By End-User Industry
5.1.1 Power Generation
5.1.2 Automotive & Other Transportation
5.1.3 Heavy Equipment
5.1.4 Metallurgy & Metalworking
5.1.5 Chemical Manufacturing
6. Regional Market Analysis (Market size, growth and forecast)
6.1.4 South Korea
9.1.10 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.8 Rest of Europe
6.4 South America
6.4.5 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.5 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, Recent Developments and Analyst View)
9.1 Royal Dutch Shell
9.2 BP PLC
9.3 ExxonMobil Corp.
9.4 Total SA
9.5 Chevron Corp.
9.6 China Petrochemical Corp. (SINOPEC Group)
9.7 Fuchs Petrolub SE
9.8 JXTG Nippon Oil & Energy Corporation
9.9 Valvoline Inc.
9.11 PETRONAS Lubricants International
9.12 PT Pertamina
9.13 Gazpromneft - Lubricants Ltd
9.14 Indian Oil Corp. Ltd
9.15 Phillips 66 Lubricants
9.17 Tide Water Oil Co. (India) Ltd (Veedol International Ltd)
9.20 SK Lubricants Co. Ltd
9.21 Bharat Petroleum Corp. Ltd
9.22 Eni SpA
9.23 Amsoil Inc.
9.24 Caltex Australia Group
9.25 Gulf Oil Lubricants India Ltd
9.26 Idemitsu Kosan Co. Ltd
9.27 Illinois Tool Works Inc. (ITW)
9.28 China National Petroleum Corp. (Petrochina)
9.29 Hindustan Petroleum Corp. Ltd
**Subject to Availability on Public Domain
- Royal Dutch Shell
- BP PLC
- ExxonMobil Corp.
- Total SA
- Chevron Corp.
- China Petrochemical Corp. (SINOPEC Group)
- Fuchs Petrolub SE
- JXTG Nippon Oil & Energy Corporation
- Valvoline Inc.
- PETRONAS Lubricants International
- PT Pertamina
- Gazpromneft - Lubricants Ltd
- Indian Oil Corp. Ltd
- Phillips 66 Lubricants
- Tide Water Oil Co. (India) Ltd (Veedol International Ltd)
- SK Lubricants Co. Ltd
- Bharat Petroleum Corp. Ltd
- Eni SpA
- Amsoil Inc.
- Caltex Australia Group
- Gulf Oil Lubricants India Ltd
- Idemitsu Kosan Co. Ltd
- Illinois Tool Works Inc. (ITW)
- China National Petroleum Corp. (Petrochina)
- Hindustan Petroleum Corp. Ltd