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Friday, 5 February 2016

Global mineral oil-based lubricants market to grow at a CAGR of 2% during the period 2014-2019

About mineral oil-based lubricants

Lubricants are used to reduce friction between two surfaces of equipment or components. They are usually in oil, semi-fluid, or solid state. Superior-quality lubricants have high thermal stability, high boiling point, low freezing point, and high viscosity index, which help to reduce the friction between machine parts for increased operational efficiency.
Mineral oil-based lubricants are derived from crude oil by distillation, solvent extraction, and the cracking process. Base oils (group I, II, and III) obtained from refining crude oil are used to manufacture mineral oil lubricants. These base oils differ from each other in terms of sulfur content, viscosity index, and saturates. Group I base oil is the least processed base oil and hence, has the lowest quality. Several types of mineral oil-based lubricants are available in the market, including engine oils, process oils, hydraulic fluids, turbine oils, tractor fluids, gear oils, and metal working fluids. They are used in various industries such as automotive, industrial machinery, textile, food and beverage, plastic, and chemicals.

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Analysts forecast the global mineral oil-based lubricants market to grow at a CAGR of 2% during the period 2014-2019.

Covered in this report
This research report covers the present scenario and the growth prospects of the global mineral oil-based lubricants market for the period 2015-2019. To calculate the market size, the report considers the consumption of mineral oil-based lubricants. The market has been divided into three major regions namely Americas, APAC, and EMEA. The mineral oil-based lubricants have been divided into three segments:
Fluid
Semi-fluid
Solid

Technavios report, Global Mineral Oil-based Lubricants Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The research report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors in the market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the market at large, as well as the key trends emerging in the market.

Key vendors
BP
CNPC
ExxonMobil
Royal Dutch Shell
Saudi Aramco

Other prominent vendors
Fuchs Petrolub
Gazprom
Idemitsu Kosan
JX Holdings
NK Lukoil
PetroChina
Petronas Chemicals Group Berhad
Sinopec
Total

Market driver
Growing demand from automotive industry
For a full, detailed list, view our report

Market challenge
Negative environmental impact
For a full, detailed list, view our report

Market trend
Increase in R&D investment
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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