The global lubricants market was valued at $88,230.8 million in 2014, and it is expected to grow with a CAGR of 2.6% during 2015 – 2020. The factors driving the growth of the market include growing automotive industry, increasing consumer awareness and government regulations. The power to regulate the petroleum industry lies with the minister of petroleum industries, but if license is to be issued, then there is a need for advice and assistance from Energy Supply Committee (ESC). In the global market, standards issued by organizations, such as Japanese Automobile Standards Organization and American Petroleum Institute, govern the quality of lubricants.
Explore Report Description with Detailed TOC on “Global Lubricants Market” at:
Geographically, the Asia-Pacific market accounted for the largest share in the global lubricants market in 2014. The lubricants market in Asia-Pacific is growing mainly due to increasing pressure of global warming, changing policies regarding emissions, which results in regulatory requirements for manufacturers to make superior quality engines compatible with high quality lubricants. Due to such reasons, Middle East and Asia-Pacific is expected to observe an increase in requirement of synthetic lubricants. The Sri Lankan government appointed public utilities commission of Sri Lanka (PUCSL) for regulating the lubricants market in the country. PUCSL informs the ministry of petroleum industries about the regulatory matters and policies with respect to liberalization of the lubricants market.
GLOBAL LUBRICANTS MARKET
- By Product – Mineral, Synthetic, Bio-Based
- By Application – Industrial, Automotive, Grease, Others
- By Region – North America, Europe, Asia-Pacific, and Rest of the World
GLOBAL LUBRICANTS MARKET, BY GEOGRAPHY
North America Lubricants Market
- North America Lubricants Market Breakdown by Country – The U.S., Canada and Mexico
- North America Lubricants Market Breakdown by Product
- North America Lubricants Market Breakdown by Application
Europe Lubricants Market
- Europe Lubricants Market Breakdown by Country – Germany, Russia, The U.K. and Rest of Europe
- Europe Lubricants Market Breakdown by Product
- Europe Lubricants Market Breakdown by Application
Asia-Pacific Lubricants Market
- Asia-Pacific Lubricants Market Breakdown by Country – China, India, Japan and Rest of Asia-Pacific
- Asia-Pacific Lubricants Market Breakdown by Product
- Asia-Pacific Lubricants Market Breakdown by Application
Rest of the World Lubricants Market
- Rest of the World Lubricants Market Breakdown by Country – Brazil, Iran, Saudi Arabia and Others
- Rest of the World Lubricants Market Breakdown by Product
- Rest of the World Lubricants Market Breakdown by Application
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