Lubricants Market by Type & Application for Global Forecast to 2021

Bharat Book Bureau provides the report, on “Lubricants Market by Type & Application for Global Forecast to 2021” The report states import/export consumption, supply and demand figures, cost, price, revenue and gross margins. https://www.bharatbook.com/materials-chemicals-market-research-reports-555111/lubricants-type-application-region-global-forecast.html

10th March, 2016- Mumbai, India: Bharatbook.com announces a report on “Lubricants Market by Type & Application for Global Forecast to 2021” The report the presence of key market players in the region drives the lubricants market in Asia-Pacific.

Increased use of mineral oil lubricants in various applications

The market size of lubricants is expected to reach USD 166.59 billion by 2021, registering a CAGR of 2.4% between 2016 and 2021. They are used in different applications ranging from automobiles to large multitudes of industries. There are four types of lubricants including mineral oil lubricants, synthetic lubricants, bio-based lubricants, and greases. Mineral oil lubricants are the major type of lubricants. Mineral oil lubricants due to its low cost as compared to others, easy availability, and the high use in all the sectors are expected to be the most dominant type between 2016 and 2021. On the other hand, owing to the increased governmental regulations and consumer awareness, synthetic lubricants and bio-based lubricants are expected to witness a high growth rate. Greases due to its high use in the manufacturing industry is projected to register the highest CAGR between 2016 and 2021.

Transportation application to dominate the market

The transportation application led the global lubricants market in 2015. The increasing number of on road vehicles coupled with the improving standard of living and purchasing power of consumers contribute to the increasing demand of lubricants in the transportation application segment. However, massive industrialization in the emerging regions such as...