According to the new market research report ''Lubricants Market by Type (Mineral Oil, Synthetic Lubricants, Bio-Based, and Greases), by Application (Transportation and Industrial Machinery & Equipment), and by Region (APAC, EU, NA, MEA, AND SA) - Global Forecast to 2021", published by MarketsandMarkets™, the lubricants market is estimated to have accounted for USD 144.45 Billion in 2015 and is projected to reach USD 166.59 Billion by 2021, registering a CAGR of 2.4% between 2016 and 2021.

Don’t miss out on business opportunities in ''Lubricants Market''. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=182046896

The market is driven by the growing automotive industry in the Asia-Pacific region. The increasing demand of automobiles in emerging economies such as China, India, and Japan is fueling the growth of the lubricants market in the region. Another major factor contributing to the growth of lubricants is massive industrial growth in the developing regions such as Asia-Pacific and the Middle East & Africa.

Mineral oil lubricants to account for the major share of the lubricants market till 2021

The lubricants market is segmented by type, namely, mineral oil lubricants, synthetic lubricants, bio-based lubricants, and greases. Mineral oil lubricants are the most preferred type of lubricant and accounts for major share in the global lubricants market. Low cost, easy availability, and increased application in all sectors are driving the mineral oil lubricants market.

Browse and in-depth TOC on ''Lubricants Market''
182 - Tables
53 - Figures
180 - Pages

View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/lubricants-market-182046896.html

Growing automotive industry in the emerging regions to drive the transportation application

The transportation application is leading the lubricants market. This is due to the rapid growth of the automotive, aviation, and marine industries in the Asia-Pacific region. The increasing demand of automobiles can be attributed to the increasing disposable income of people and industrial growth in this region. This growth in the automotive industry eventually contributes to the growth of lubricants in the Asia-Pacific region.

Asia-Pacific to be the largest market during the forecast period

The lubricants market is broadly segmented into five regions, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and South America. Asia-Pacific is the largest market for lubricants, followed by Europe. The Middle East & Africa is projected to be the fastest-growing market during the forecast period. Growing industrialization has offered enormous opportunity for the various manufacturing industries to use lubricants in the Middle East & Africa. Moreover, the increasing number of passenger and commercial vehicles in the region is fueling the growth of the lubricants market.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=182046896

Currently, the global lubricants market is dominated by various market players such as Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), Petrochina Company Limited (China), Sinopec Limited (China), Total S.A. (France), Lukoil (Russia), BP Plc. (U.K.), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), Idemitsu Kosan Co., Ltd. (Japan), and others.

Browse Adjacent Markets @ Chemicals Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com