This “Automotive Lubricants Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Automotive Lubricants market can use for expanding their business in untapped market to increase their customer base.
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Automotive Lubricants Market Covers Manufacturers:
Scope of the Report:
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Key Market Trends:
Increasing Usage of High Performance Lubricants
– High-performance lubricants, also known as synthetic lubricants, are gaining popularity, due to their excellent properties over mineral oil lubricants. The synthetic lubricant segment is constantly gaining market share and is projected to be the fastest-growing segment during the forecast period.
– Synthetic lubricants offer better and improved properties, in comparison to mineral lubricants, such as low-traction coefficient, which reduce power consumption, reduce gear wear, increase service life, and reduces flammability to increase safety.
– This, in turn, makes them most suited for extreme high-temperature applications, and other complex and specific applications (such as heavily loaded gearboxes, etc.). However, as the average price of synthetic lubricants is almost thrice of the mineral-based lubricants, the occupation of the consumers is the main factor for the acceptance of high-performance lubricants.
– Synthetic lubricants are mostly used in the regions of Europe and North America, followed by the usage of semi-synthetic lubricants in Asian countries. In Asia, lubricants are mostly sold under the category of Do-It-Yourself (DIY). The synthetic lubricant segment is usually driven by consumers with behavior traits, like innovativeness, information on new brands, types of products, enthusiasm toward their vehicles, etc.
– The growing awareness about high-performance automotive lubricants is expected to continue to drive the market in the coming years.
Asia-Pacific is Expected to Dominate the Market
The Asia-Pacific region dominated the global market share in 2018. In the region, China is the largest lubricant market and is expected to remain so in the coming years, irrespective of the economy witnessing slow economic growth. The government is focusing on replacing obsolete vehicles, in turn, increasing the demand for improved and high performance lubricants. Whereas, India is the second-largest lubricant market in the region and the third-largest in the world. Indonesia is one of the major consumers of lubricants in the ASEAN region. Japan is the fifth-largest consumer of lubricants in the world. The Japanese automotive industry has been witnessing slow growth from the past two years, primarily due to the drastic drop in the sale and production of motor vehicles. The global market for automotive lubricants is expected to be dominated by the Asia-Pacific region during the forecast period.
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Target Audience of Automotive Lubricants Market:
- Manufacturer / Potential Investors
- Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
- Association and government bodies.
Key Reasons to Automotive Lubricants Market Report:
- Analyzing various perspectives of the Automotive Lubricants market with the help of Porter’s five forces analysis
- The End User that is expected to dominate the Automotive Lubricants market is analyzed in detail
- The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Automotive Lubricants market.
- Identify the latest developments, market shares and strategies employed by the major market players.
- Regional analysis of Automotive Lubricants market studied, during the forecast period
- The segments that are expected to dominate the Automotive Lubricants market studied.
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