Skip to main content

High-End Consumer Preference towards Bio-Based Automotive Lubricants Likely To Boost Growth during 2019-2029

The automotive lubricants market study done by Fact.MR gives out exclusive information about how the market will grow during the forecast period of 2019-2028. The study predicts crucial trends that are determining the growth of the automotive lubricants market. This newly published report sheds light on vital dynamics, such as drivers, restraints, and opportunities for key market players as well as emerging players associated with the manufacturing of automotive lubricants. The report primarily conveys a summary of the automotive lubricants market, considering the present and upcoming construction industry scenarios, to reveal striking sides relating to the acceptance of automotive lubricants across prominent regional markets. A detailed assessment of the market supply chain analysis, business execution, and value chain analysis across the regional markets have been provided in the report. A list of prominent companies operating in the automotive lubricants market, enhance the reliability of this comprehensive research study.
Get a Sample Copy of Market Report Here - https://www.factmr.com/connectus/sample?flag=S&rep_id=434
Automotive lubricants dominate the global lube consumption, which in 2018 reported sales of over 40 million tons. Automotive lubricants accounts ~ 55% of the global lubricants market and the demand for high-quality lube is expected to create significant opportunities over the long-term forecast period. Royal Dutch Shell PLC, ExxonMobil, BP plc, Chevron Corporation, FUCHS, are some of the prominent players in the automotive lubricants market holding a significant share of the global market. In recent years, leading players have shown strategic moves such as acquisitions, mergers, and expansion projects to enhance their market position in the global automotive lubricants market.
For instance, in last few years, lubricants manufacturer FUCHS Petrolub SE, has spent nearly 12 million dollars at their site headquartered in Stoke-on-Trent, United Kingdom. The investment was made for new automated and energy-efficient machinery at FUCHS’ Hanley base. Furthermore, in April 2019, ExxonMobil, a multibillion-dollar crude oil refining company announced that it will manufacture high-quality lube base stocks, high-performance lubricants, and cleaner fuels in Singapore. This project will add 7 million barrels per annum of Group II base stocks capacity, which is mostly used to manufacture high-performance automotive lubricants. As per Fact.MR analysis, this investment is expected to increase the ExxonMobil’s outreach in Europe as well as in the Asia Pacific region.
The above mentioned, inline expansions and investments have shown that companies could offer a reliable supply to tap the increasing demands for automotive lubricants.
Technological Advancements to Improve Efficiency and Productivity
In terms of consumption, over 60 percent of the energy is consumed in the vehicle through the engine components. So improvements in automotive lubricants is the ideal place to optimize the performance of engines. High-performance automotive lubricants constitute excellent solvency and better hydrophilic properties. Application of these automotive lubricants leads to durable operation of the engine through lighter viscosity grades of high-performance lubricants. Additionally, less viscous and premium synthetics lubricants also increase the fuel economy of engines to a greater extent.
In recent years, nano-lubricants have been an advanced development in the market of automotive lubricants, created by adding nanoparticles to lube oils. Adding carbon-based nanoparticles in automotive lubricants improve the anti-wear properties and help to reduce the frictional resistance in the engine. Nano-lubricants not only reduce the frictional resistance but also enhance the load-carrying capacity of the engine. But the tendency to “settle out” from the liquid lubricant, nano lubricants need extensive research for their stable and effective production. Furthermore, performance additives are added to automotive lubricants to enhance their performance and ensure a prolonged engine life. In modern automotive lubricants, combination of additives are used to serve better lubrication in engine. New modified engines, a higher range of operating conditions, new government legislations ensure the requirement for additives to enhance the efficiency of automotive lubricants. The concentration of performance additives in automotive lubricants ranges from ~ 0.005 to more than 10%. Additives added to automotive lubricants not only improve the fuel efficiency of the engine but also reduce CO2 emissions from vehicles by minimizing frictional resistance. To maintain the efficiency and to reduce the emissions, some new automotive lubricants have low contents of sulfated ash, phosphorus, and sulfur.
To meet the ever-changing consumer demand for high-performance automotive lubricants and strict environmental legislation to reduce CO2 emissions, market players need to implement advanced technologies. Prominent manufacturers can leverage R&D activities to bring more efficiency and new advancements, which will add more value to the existing product portfolio in the forecast period.
Ask Industry Expert about this Report here – https://www.factmr.com/connectus/sample?flag=AE&rep_id=434
Strict Environmental Regulations Impacting Adoption of Automotive Lubricants
To control carbon emission and air pollution caused due to automobiles, various governing bodies and international organizations have developed some standards and guidelines. All automotive lubricant manufacturers in the world have to comply with the strict regulations enacted by environmental organizations in different geographical regions. For instance, governments of countries such as the Netherlands and Norway have decided that from 2025, no new cars will be approved with internal combustion engines. Furthermore, as per Paris Climate Agreement, CO2 emissions shall not exceed CO2 absorption levels. As a consequence, Europe’s government is set to introduce ~ 40 hybrid cars, followed by e-cars and internal combustion engines. To adhere to environmental regulations, manufacturers have to make some significant changes in their manufacturing processes, which may lead to the increased production cost of automotive lubricants.
Labels:

Comments

Post a Comment

Popular posts from this blog

Spray Polyurea Elastomers Market: Notable Developments by Key Stakeholders

 According to estimates of Fact.MR in its new research analysis, the global market for spray polyurea elastomers will reflect an impressive 9.6% volume CAGR during the period 2017 to 2026. Nearly US$ 2,760 Mn worth of spray polyurea elastomers are envisaged to be sold across the globe by 2026-end. Analysis on Sherwin Williams, Huntsman Corporation, Specialty Products Inc., and other prominent participants operating in the global spray polyurea elastomers has been incorporated in the report. Corrosion protection and abrasion resistance attributes of spray polyurea elastomers have been driving their demand in mining-related equipment and facilities. Erosion protection, waterproofing, and concrete surface protection are other key characteristics of polyurea that have fuelled their adoption in the construction sector. With robust balance sheets across the mining sector, miners in North America are adhering to an investment-led approach, which in turn has given birth to a renewed foc...
Post a Comment
Read more

Global Sodium Percarbonate Market to Surpass Revenues worth US$ 600 Mn until the end of 2029

According to a new Fact.MR report, global demand for sodium percarbonate accounted for a sales volume of 1051 KT in 2018, which is projected to grow substantially through 2019 and beyond. A plethora of factors are shaping growth in the sodium percarbonate market , ranging from growing demand for low-cost cleaning agents to shifting customer preference for eco-friendly bleach products. The Fact.MR study finds that the demand for sodium percarbonate is being buoyed by its extensive functional benefits in both industrial and household cleaning applications. Powerful bleaching, disinfection, and cleaning capabilities are the key attributes that are highly likely to remain key influencers, sustaining sodium percarbonate sales over the forthcoming years. Request for a Customize Sample Copy of this Market Report - https://www.factmr.com/connectus/sample?flag=S&rep_id=2527 Sodium Percarbonate Market in Numbers   The sodium percarbonate market has been envisaged to surpass reven...
Post a Comment
Read more

Sodium Methoxide Market: Growing Demand to Impact Revenue Share during 2018-2027

The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global sodium methoxide market during the period until 2027. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the sodium methoxide market during the forecast period. Request for Sample Report - https://www.factmr.com/connectus/sample?flag=S&rep_id=2800 Sodium methoxide industry continues to gain lucrative opportunities across the world on the backdrop of the increasing investment in the end use industries, increasing production capacities of the key companies, increasing investment in the research & development activities. Moreover, the growth in the sodium methoxide industry has influenced its market...
Post a Comment
Read more