Lubricants Market Size Likely to Exceed Usd 74 Billion by 2022.

Lubricants market size likely to exceed USD 74 billion by

2022: Global Market Insights, Inc.

Lubricants market size is forecast to generate USD 74.6 billion revenue by 2022; as per a

new research report by Global Market Insights, Inc. Transportation industry growth,

particularly automobile production, is likely to drive lubricants market size. Increase in

drilling & exploration activities owing to growth in oilfield chemicals should also spur

growth.

Industrial lubricants market size was dominant and occupied a share of over 38% of the

total volume in 2014. Increase in industrial output coupled with capacity expansions in

mining, machinery and metal forming should favor lubricants demand.

Consumer automotive lubricants market share is most likely to see significant gains, at 3.2%

CAGR and register demand over 13 million tons by 2022. Increase in passenger car sales in

APAC and Latin America coupled with stable U.S. automotive index is likely to drive demand.

Crude oil price slump over the past two years have resulted in bringing down lubricants

market price trend. Increasing application scope in niches sectors such as medical devices

and 3D printing is likely to boost demand.

Stringent regulations by EPA, REACH and ECHA over toxicity, bioaccumulation and

recyclability are likely to threaten industry growth. Technology innovation over developing

biobased lubricants market in order to counter environmental concerns may benefit

industry participants.

U.S. lubricants market size by product, 2012 - 2022 (Million Tons)

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Browse Lubricants Market Size By Application (Automotive [Hydraulic & Transmission

Fluid, Grease, Passenger Vehicle Engine Oils, Heavy-Duty Engine Oils, Automatic

Transmission Fluid, Gear Oil], Industrial [Process Oils, Metal Working Fluids, General

Industrial Oils, Industrial Engine Oils]), Industry Analysis Report, Regional Outlook

(U.S., Germany, UK, China, India, Japan, LATAM, MEA), Application Potential, Price...