Group IV & V Lubricants Market
Group IV & V Lubricants Market Scope: Industry
Analysis, Market Size, Growth, Trends Till 2031
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Group IV & V Lubricants Market Size and Growth
The Group IV & V lubricants market is experiencing significant growth, driven by increasing demand for high-performance lubricants across various industries. As of 2023, the market size is estimated to reach USD 4 billion, reflecting a compound annual growth rate (CAGR) of 5%. Sustainability trends further fuel innovation and expansion.
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Companies Covered
(Covid 19 Impact Covered)
◍ BP
◍ Chevron
◍ ConocoPhillips
◍ ExxonMobil
◍ FUCHS
◍ Iocl
◍ Millers Oils
◍ Petrobras
◍ PETRONAS Lubricants International
◍ Royal Dutch Shell
◍ Sinopec
◍ TOTAL
◍ Valvoline
The Group IV & V lubricants market features major players like BP, Chevron, and ExxonMobil. These companies leverage advanced synthetic formulations for enhanced performance, catering to automotive and industrial applications. Their investments and innovation drive market growth, with notable revenue contributions:
- ExxonMobil: $284 billion
- BP: $282 billion
- Total: $151 billion
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Market Segmentation
By Application
Automobile
Industrial
By Product
◍ Group IV (PAO) Lubricants
◍ Group V (ESTERS) Lubricants
◍ Group V (PAG) Lubricants
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Market Growth
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$ X Billion USD
