Lubricants Market worth $182.6 Billion by 2025 - Exclusive Report by MarketsandMarkets™ According to the new market research report "Lubricants Market by Base Oil (Mineral Oil, Synthetic Oil, Biobased Oil), Product Type (Engine Oil, Hydraulic Fluid, Metalworking Fluid), End-Use Industry (Transportation and Industrial lubricants), Region - Global Forecast to 2025", published by MarketsandMarkets™, the lubricants market size is projected to reach USD 182.6 billion by 2025, at a CAGR of 3.0% from USD 157.6 billion in 2020. PDF Download: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=182046896 Browse and in-depth TOC on "Lubricants Market" 399 - Tables 56 - Figures 324 - Pages View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/lubricants-market182046896.html Lubricants are defined as various compounds like fluids, oils, and greases. Lubrication is an essential process for industrial processes, which helps to reduce the friction between moving parts or surfaces to enhance the efficiency of machines. Lubricants are manufactured using base oil, which is categorized as mineral oil, synthetic oil, and biobased oil. Mineral oil and synthetic oil are sourced from petroleum crude, and bio-based oils are sourced from vegetable oil. The major factor that is driving the lubricants market is massive industrialization, the increasing disposable income & rapid urbanization in emerging countries. Mineral oil was the largest segment in the global lubricants market in 2019. Mineral oil was the largest segment in the lubricants industry, in terms of both value and volume, in 2019. Mineral oil-based lubricants are available in light and heavy grades, depending on the usage and requirement. They are produced via petroleum refineries in large quantities because of its high usage in various sectors, such as construction, metal & mining, and cement production, among others. The engine oil segment accounts for the largest share of the lubricants industry in 2019. The engine oil segment accounted for the largest share of the lubricants market in 2019, in terms of both volume and value. Engine oil is used mainly in ICEs, where its primary function includes lubrication and heat removal in the automobile and equipment engine. Engines are the most widely used machines, majorly used in vehicles and transport vessels. These engines form the basis of a vehicle function. It is the most common type of fluid being used in the industry. Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=182046896 Transportation accounts for the largest share of the lubricants industry in 2019. Transportation accounted for the largest share of the lubricants market in 2019, in terms of both volume and value. This is due to the rise in vehicle count both in commercial and passenger segments, influenced by the increasing spending power in the developing nations. The growing emphasis on optimized supply chain and logistics will also have a positive impact on this market. APAC is estimated to be the largest market for lubricants during the forecast period. APAC led the lubricants market in 2019, in terms of both volume and value. The increasing population, the rising expenditure in the industrial sector, and the growing vehicle count in emerging markets of China, India, and ASEAN
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