Lubricants are a mixture of base oil and other additives used to reduce friction and increase operational efficiency in automobiles and industrial machineries. Lubricants and oils are used in various applications such as industrial gearboxes, internal combustion engines, turbines and others. Growing need to improve fuel efficiency and reduce emission from automobiles and industrial machinery have resulted in the increased usage of synthetic lubricants over traditional materials.
The global lubricants and oil market is segmented on the basis of type and application. Based on their application area, lubricants and oils are segmented into industrial lubricants and automotive lubricants. Industrial lubricants include grease and metal working fluids whereas automotive lubricants include engine oil, gear oil, grease and transmission fluids. Based on the type, the global lubricants and oil market is segmented into mineral oil lubricants, greases synthetic lubricants. Mineral oil lubricants are the leading lubricant type owing to its low cost, ease of availability and increased application in all sectors.
Growing environmental concerns have resulted in rise in usage of bio-based lubricants that release low pollution. They are produced from natural esters such as vegetable oils and oilseeds. Bio-based lubricants market is expected to grow faster because they are eco-friendly, bio-degradable and have minimal health risks.
The global lubricants market is primarily driven by growing number of passenger vehicles and infrastructure development in developing countries. In addition, factors such as stringent government regulations regarding gas emissions, need to prevent equipment failure due to excess friction and importance of smooth functioning of machinery are going to further boost the market for the lubricants and oils. Lubricants & Oils , and bio-based lubricants in the overall lubricants and oils market
ASDReport.com offers an extensive repository of reports on lubricants and oils market. The reports cover various products and segments related to lubricants and oils market like oil additives, automotive coolant, motor oil, bio lubricants and much more.