潤滑油市場:基油(鉱物油、合成油、バイオベースオイル)、製品タイプ(エンジンオイル、油圧作動油、金属加工油)、最終使用産業(輸送用、工業用潤滑油)、地域別 - 2027年までの世界予測Lubricants Market by Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), Product Type (Engine Oil, Hydraulic Fluid, Metalworking Fluid), End-Use Industry (Transportation and Industrial lubricants), Region - Global Forecast to 2027 潤滑油の世界市場規模は、2022年の1,648億米ドルから2027年には年率2.7%で1,879億米ドルに達すると予測されています。潤滑剤は、輸送機関やさまざまな製造業で広く使用されています。潤滑剤の主な機能は、可動面... もっと見る
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サマリー潤滑油の世界市場規模は、2022年の1,648億米ドルから2027年には年率2.7%で1,879億米ドルに達すると予測されています。潤滑剤は、輸送機関やさまざまな製造業で広く使用されています。潤滑剤の主な機能は、可動面間の摩擦を低減し、動作を向上させることです。また、潤滑油は自動車のエンジンの集塵、洗浄、冷却にも使用されています。これらは、金属部品の摩擦によって引き起こされるエンジンの摩耗や損傷を低減し、熱を持ち去るのに役立ちます。"2021年の世界潤滑油市場のベースオイルは、金額ベースで鉱油が最大" 2021年の世界潤滑油市場のベースオイルは、金額ベースで鉱油が最大でした。 これは、鉱物油の潤滑油が合成油の潤滑油よりも一般的に安価であることに起因しています。合成油潤滑剤は鉱物油よりも約40%~50%高い。したがって、鉱油は、アジア太平洋、南米、中東・アフリカなどの価格に敏感な地域で広く使用されています。しかし、環境問題や政府規制の高まりから、先進国ではベースオイルの成長が鈍化すると予測されています。 "製品タイプ別では、エンジンオイルが2021年の世界潤滑油 、金額ベースで最大の市場シャムレターを占めた" エンジンオイルは、2021年の製品タイプ別世界の潤滑油業界において、金額ベースで最大のセグメントとなりました。エンジンオイルは、ガソリンやディーゼルなど、あらゆるタイプのエンジンを含む幅広い用途に使用される。世界的な自動車の販売台数の増加が、その需要を促進しています。しかし、エンジンオイルは地球環境汚染の主な原因の1つであるため、その成長速度は緩やかであると予測されています。また、欧州や北米などの先進国では、エンジンオイルの組成に厳しい規制があり、コストアップの要因となっています。 "アジア太平洋地域は、予測期間中、数量・金額ともに最も成長率の高い市場になると予測される。" 2021年の潤滑油市場は、金額ベースではアジア太平洋地域が最大となりました。新興国経済の高成長とこの地域の可処分所得の増加により、アジア太平洋地域は潤滑油にとって魅力的な市場となっています。生産の驚異的な成長と貿易の増加は、主に潤滑油の高い消費の原因であり、したがって、市場の成長を推進しています。 二次調査によって特定されたいくつかのセグメントとサブセグメントの市場規模を決定し検証する過程で、広範な一次インタビューが実施された。主なインタビュー対象者のプロフィールの内訳は以下の通りです。 - 企業タイプ別企業タイプ別:Tier 1 69%、Tier 2 23%、Tier 3 8 - 役職別役職別:Cレベル23%、ディレクターレベル37%、その他40 - 地域別地域別:北米32%、欧州21%、アジア太平洋28%、南米・中東・アフリカ12%、南米7 本レポートでは、Royal Dutch Shell plc(オランダ)、ExxonMobil(米国)、BP p.l.c.(英国)、Chevron Corporation(米国)、TotalEnergies SE(フランス)、PetroChina Company Limited(中国)、出光興産株式会社(米国)、日本郵船株式会社(日本)、株式会社日立製作所(日本)をキープレイヤーとして取り上げ、これらの企業がどのようなビジネスを行っているのかを紹介しています。出光興産株式会社(日本)、Sinopec Corp(中国)、Fuchs Petrolub AG(ドイツ)、Valvoline(米国)、Lukoil(ロシア)、Petronas(マレーシア)、Gazprom Neft(ロシア)、Pertamina(インドネシア)等々である。 調査対象範囲 本レポートでは、潤滑油市場を基油、製品タイプ、最終用途産業、地域に基づいて分類し、各地域の全体市場規模を推計しています。また、業界主要企業の詳細な分析を行い、事業概要、製品・サービス、潤滑油市場に関連する主要戦略などに関する考察を提供しています。 本レポートを購入する理由 本調査レポートは、産業分析(業界動向)、トップ企業の市場シェア分析、企業プロファイルといった様々なレベルの分析に焦点を当てており、これらを合わせて、競争環境、潤滑油市場の新興および高成長セグメント、高成長地域、市場促進、阻害、機会に関する全体像を把握することが可能です。 本レポートでは、以下のポイントに関する考察を提供しています。 - 市場の浸透。世界市場のトッププレイヤーが提供する潤滑油に関する包括的な情報 - 市場の発展。有利な新興市場に関する包括的な情報 - 本レポートでは、地域ごとの潤滑油の市場を分析しています。 - 市場の多様化。潤滑油の世界市場における新製品、未開拓地域、最新動向に関する徹底的な情報提供 - 競合の評価。潤滑油市場における主要企業の市場シェア、戦略、製品、製造能力に関する詳細な評価 目次1 INTRODUCTION 321.1 STUDY OBJECTIVES 32 1.2 MARKET DEFINITION 32 1.2.1 LUBRICANTS MARKET: INCLUSIONS & EXCLUSIONS 32 1.2.2 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY BASE OIL 33 1.2.3 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY PRODUCT TYPE 33 1.2.4 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY END-USE INDUSTRY 34 1.3 MARKET SCOPE 34 FIGURE 1 LUBRICANTS: MARKET SEGMENTATION 34 1.3.1 REGION COVERED 35 1.3.2 YEARS CONSIDERED 35 1.4 CURRENCY 36 1.5 UNIT CONSIDERED 36 1.6 LIMITATIONS 36 1.7 STAKEHOLDERS 36 1.8 SUMMARY OF CHANGES 37 2 RESEARCH METHODOLOGY 38 2.1 RESEARCH DATA 38 FIGURE 2 LUBRICANTS MARKET: RESEARCH DESIGN 38 2.1.1 SECONDARY DATA 39 2.1.2 PRIMARY DATA 39 2.1.2.1 Primary interviews – demand and supply sides 39 2.1.2.2 Key industry insights 40 2.1.2.3 Breakdown of primary interviews 41 2.2 MARKET SIZE ESTIMATION 41 2.2.1 BOTTOM-UP APPROACH 42 FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): COLLECTIVE REVENUE OF COMPANIES 42 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL PRODUCTS 42 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 – BOTTOM-UP (DEMAND SIDE): PRODUCTS SOLD 43 2.3 DATA TRIANGULATION 44 FIGURE 6 LUBRICANTS MARKET: DATA TRIANGULATION 44 2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECASTS 45 2.4.1 SUPPLY SIDE 45 FIGURE 7 MARKET GROWTH PROJECTION FROM SUPPLY SIDE 45 2.4.2 DEMAND SIDE 46 FIGURE 8 MARKET GROWTH PROJECTION FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES 46 2.5 FACTOR ANALYSIS 47 2.6 LIMITATIONS 47 2.7 RISK ASSESSMENT 47 TABLE 1 LUBRICANTS MARKET: RISK ASSESSMENT 47 2.8 RESEARCH ASSUMPTIONS 48 3 EXECUTIVE SUMMARY 49 FIGURE 9 MINERAL OIL SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 49 FIGURE 10 ENGINE OIL DOMINATED OVERALL LUBRICANTS MARKET IN 2021 50 FIGURE 11 PASSENGER VEHICLE TO BE DOMINANT CONSUMER OF LUBRICANTS IN TRANSPORTATION SEGMENT 50 FIGURE 12 CONSTRUCTION TO BE LEADING END USER OF LUBRICANTS IN INDUSTRIAL SEGMENT 51 FIGURE 13 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 52 4 PREMIUM INSIGHTS 53 4.1 ATTRACTIVE OPPORTUNITIES IN LUBRICANTS MARKET 53 FIGURE 14 LUBRICANTS MARKET TO WITNESS STEADY GROWTH DURING FORECAST PERIOD 53 4.2 ASIA PACIFIC LUBRICANTS MARKET, BY BASE OIL AND COUNTRY 53 FIGURE 15 CHINA LED ASIA PACIFIC LUBRICANTS MARKET IN 2021 53 4.3 LUBRICANTS MARKET, BY REGION 54 FIGURE 16 ASIA PACIFIC TO BE LARGEST MARKET FOR LUBRICANTS DURING FORECAST PERIOD 54 4.4 LUBRICANTS MARKET SIZE, END-USE INDUSTRY V/S REGION, 2021 54 FIGURE 17 TRANSPORTATION ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 54 4.5 LUBRICANTS MARKET ATTRACTIVENESS 55 FIGURE 18 CHINA PROJECTED TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 55 5 MARKET OVERVIEW 56 5.1 INTRODUCTION 56 5.2 MARKET DYNAMICS 56 FIGURE 19 FACTORS GOVERNING LUBRICANTS MARKET 56 5.2.1 DRIVERS 57 5.2.1.1 Increased demand for high-performance engines 57 5.2.1.2 Expansion of refinery capacities driving demand for Group II and Group III base oils 57 5.2.1.3 Emission and fuel efficiency norms to drive demand in emerging markets 57 TABLE 2 IMPLEMENTATION OF EMISSION STANDARDS FOR LIGHT-DUTY VEHICLES IN CHINA 58 5.2.1.4 Increasing demand from marine applications 59 5.2.1.5 Limitations on shift to electric vehicles 59 FIGURE 20 COST COMPARISON OF EV AND ICE VEHICLES 59 5.2.2 RESTRAINTS 60 5.2.2.1 Shift toward synthetic lubricants reducing overall demand for lubricants 60 5.2.2.2 Rising demand for electric vehicles and reducing prices of battery 60 FIGURE 21 GOVERNMENT TARGETS FOR ELECTRIC VEHICLES 61 5.2.3 OPPORTUNITIES 61 5.2.3.1 Leveraging e-commerce industry to increase customer reach 61 5.2.3.2 Demand for renewable energy 61 5.2.3.3 Increasing demand for bio-based lubricants 62 5.2.3.4 Increasing demand from mining, construction, and agriculture industries 62 5.2.4 CHALLENGES 62 5.2.4.1 Stringent environmental norms and continuous reforms by governments 62 5.2.4.2 Rising raw material prices 63 TABLE 3 CRUDE OIL PRICE FORECAST 63 5.3 PORTER'S FIVE FORCES ANALYSIS 64 FIGURE 22 LUBRICANTS MARKET: PORTER'S FIVE FORCES ANALYSIS 64 5.3.1 THREAT OF SUBSTITUTES 64 5.3.2 THREAT OF NEW ENTRANTS 65 5.3.3 BARGAINING POWER OF SUPPLIERS 65 5.3.4 BARGAINING POWER OF BUYERS 65 5.3.5 INTENSITY OF COMPETITIVE RIVALRY 65 TABLE 4 LUBRICANTS MARKET: PORTER'S FIVE FORCES ANALYSIS 65 5.4 MACROECONOMIC INDICATORS 66 5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES 66 TABLE 5 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2020–2027 (USD BILLION) 66 6 INDUSTRY TRENDS 67 6.1 SUPPLY CHAIN ANALYSIS 67 FIGURE 23 LUBRICANTS MARKET: SUPPLY CHAIN ANALYSIS 67 6.1.1 RAW MATERIALS 68 6.1.2 MANUFACTURING OF LUBRICANTS 68 6.1.3 DISTRIBUTION TO END USERS 68 6.2 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES 68 6.2.1 REVENUE SHIFT & REVENUE POCKETS FOR LUBRICANTS 68 FIGURE 24 LUBRICANTS MARKET: FUTURE REVENUE MIX 68 6.3 CONNECTED MARKETS: ECOSYSTEM ANALYSIS 69 FIGURE 25 LUBRICANTS MARKET: ECOSYSTEM MAPPING 69 TABLE 6 LUBRICANTS MARKET: ROLE IN ECOSYSTEM 70 6.4 TECHNOLOGY ANALYSIS 71 6.4.1 RE-REFINING TECHNOLOGY 71 6.4.2 SO2 SCRUBBING SYSTEM TECHNOLOGY 71 6.4.3 NANOTECHNOLOGY IN LUBRICANTS 71 6.5 OPPORTUNITY ANALYSIS FOR MOTOR OIL IN POWER GENERATION INDUSTRY 72 TABLE 7 MOTOR OIL LUBRICANTS MARKET SIZE, BY POWER PLANT TYPE, 2021–2035 (MILLION GALLONS) 72 TABLE 8 MOTOR OIL LUBRICANTS MARKET SIZE, BY POWER PLANT TYPE, 2021–2035 (USD MILLION) 72 6.6 CASE STUDY ANALYSIS 72 6.6.1 CASE STUDY ON COMPRESSOR LUBRICANT 72 6.6.2 CASE STUDY ON SYNTHETIC LUBRICANT 72 6.6.3 CASE STUDY ON HYDRAULIC FLUIDS 73 6.6.4 CASE STUDY ON COMPRESSOR OIL 73 6.7 KEY STAKEHOLDERS AND BUYING CRITERIA 73 6.7.1 KEY STAKEHOLDERS IN BUYING PROCESS 73 FIGURE 26 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES 73 TABLE 9 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRY (%) 74 6.7.2 BUYING CRITERIA 74 FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES 74 TABLE 10 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES 74 6.8 LUBRICANTS MARKET: REALISTIC, PESSIMISTIC, OPTIMISTIC, AND NON-COVID-19 SCENARIOS 75 FIGURE 28 MARKET SIZE UNDER REALISTIC, PESSIMISTIC, OPTIMISTIC, AND NON-COVID-19 SCENARIOS 75 TABLE 11 LUBRICANTS MARKET FORECAST SCENARIO, 2019–2027 (USD MILLION) 75 6.8.1 NON-COVID-19 SCENARIO 75 6.8.2 OPTIMISTIC SCENARIO 75 6.8.3 PESSIMISTIC SCENARIO 76 6.8.4 REALISTIC SCENARIO 76 6.9 PRICING ANALYSIS 76 6.9.1 AVERAGE SELLING PRICE OF BASE OIL, BY KEY PLAYERS 76 FIGURE 29 AVERAGE SELLING PRICES OF KEY PLAYERS FOR TOP THREE BASE OILS 76 TABLE 12 AVERAGE SELLING PRICES OF KEY PLAYERS FOR TOP THREE BASE OILS (USD/KG) 76 6.9.2 AVERAGE SELLING PRICE, BY REGION 77 FIGURE 30 AVERAGE SELLING PRICES OF LUBRICANTS, BY REGION (2020–2027) 77 TABLE 13 AVERAGE SELLING PRICES OF LUBRICANTS, BY REGION, 2020–2027 (USD/KG) 77 6.10 TRADE DATA STATISTICS 78 6.10.1 IMPORT SCENARIO OF LUBRICANTS 78 FIGURE 31 LUBRICANTS IMPORT, BY KEY COUNTRIES (2013–2021) 78 TABLE 14 IMPORT OF LUBRICANTS, BY REGION, 2013–2021 (USD BILLION) 78 6.10.2 EXPORT SCENARIO OF LUBRICANTS 79 FIGURE 32 LUBRICANTS EXPORT, BY KEY COUNTRY (2013–2021) 79 TABLE 15 EXPORT OF LUBRICANTS, BY REGION, 2013–2021 (USD BILLION) 79 6.11 GLOBAL REGULATORY FRAMEWORK AND ITS IMPACT ON LUBRICANTS MARKET 80 6.11.1 REGULATIONS RELATED TO LUBRICANTS 80 6.12 KEY CONFERENCES & EVENTS (2022–2023) 81 TABLE 16 LUBRICANTS MARKET: LIST OF CONFERENCES & EVENTS 81 6.13 PATENT ANALYSIS 82 6.13.1 APPROACH 82 6.13.2 DOCUMENT TYPE 82 TABLE 17 GRANTED PATENTS ACCOUNTED FOR 26% OF ALL PATENTS 82 FIGURE 33 PATENTS REGISTERED IN LUBRICANTS MARKET, 2011–2021 82 FIGURE 34 PATENT PUBLICATION TRENDS, 2011–2021 83 FIGURE 35 LEGAL STATUS OF PATENTS FILED IN LUBRICANTS MARKET 83 6.13.3 JURISDICTION ANALYSIS 84 FIGURE 36 MAXIMUM PATENTS FILED IN JURISDICTION OF CHINA 84 6.13.4 TOP APPLICANTS 84 FIGURE 37 BASF SE REGISTERED MAXIMUM NUMBER OF PATENTS BETWEEN 2011 AND 2021 84 TABLE 18 PATENTS BY BASF SE 85 TABLE 19 TOP 10 PATENT OWNERS IN US, 2011–2021 85 7 LUBRICANTS MARKET, BY BASE OIL 86 7.1 INTRODUCTION 87 TABLE 20 CATEGORY OF BASE OILS 87 FIGURE 38 MINERAL OIL LUBRICANTS TO DOMINATE OVERALL LUBRICANTS MARKET DURING FORECAST PERIOD 88 TABLE 21 LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 88 TABLE 22 LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 88 TABLE 23 LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 89 TABLE 24 LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 89 7.2 MINERAL OIL LUBRICANTS 89 7.2.1 GROWING EMPHASIS ON PREMIUM GRADE PRODUCTS TO AFFECT MINERAL OIL LUBRICANTS 89 TABLE 25 MINERAL OIL LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 90 TABLE 26 MINERAL OIL LUBRICANTS MARKET SIZE BY REGION, 2021–2027 (KILOTON) 90 TABLE 27 MINERAL OIL LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 91 TABLE 28 MINERAL OIL LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 91 7.3 SYNTHETIC LUBRICANTS 91 FIGURE 39 FACTORS AFFECTING GLOBAL SYNTHETIC LUBRICANTS MARKET 92 TABLE 29 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 92 TABLE 30 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 93 TABLE 31 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 93 TABLE 32 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 93 7.3.1 POLYALPHAOLEFINS (PAO) 94 7.3.2 POLYALKYLENE GLYCOL (PAG) 94 7.3.3 ESTERS 94 7.3.4 GROUP III (HYDROCRACKING) 94 7.4 BIO-BASED LUBRICANTS 94 7.4.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR BIO-BASED LUBRICANTS 94 TABLE 33 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 95 TABLE 34 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 95 TABLE 35 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 96 TABLE 36 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 96 8 LUBRICANTS MARKET, BY PRODUCT TYPE 97 8.1 INTRODUCTION 98 FIGURE 40 ENGINE OIL TO DOMINATE OVERALL LUBRICANTS MARKET BETWEEN 2022 AND 2027 98 TABLE 37 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (KILOTON) 99 TABLE 38 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (KILOTON) 99 TABLE 39 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (USD MILLION) 100 TABLE 40 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (USD MILLION) 100 8.2 ENGINE OIL 100 8.2.1 ENVIRONMENTAL REGULATIONS TO LIMIT FUTURE GROWTH 100 TABLE 41 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 101 TABLE 42 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 101 TABLE 43 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 102 TABLE 44 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 102 8.3 HYDRAULIC OIL 102 8.3.1 GROWING CONSTRUCTION INDUSTRY TO DRIVE MARKET 102 TABLE 45 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 103 TABLE 46 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 103 TABLE 47 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 103 TABLE 48 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 104 8.3.2 HL HYDRAULIC FLUID 104 8.3.3 HLP HYDRAULIC FLUID 104 8.3.4 HLP-D HYDRAULIC FLUID 104 8.3.5 FIRE-RESISTANT HYDRAULIC FLUID 104 8.4 METALWORKING FLUID 105 8.4.1 GROWING STEEL INDUSTRY TO FUEL DEMAND 105 TABLE 49 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 105 TABLE 50 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 105 TABLE 51 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 106 TABLE 52 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 106 8.4.2 REMOVAL METALWORKING FLUID 106 8.4.3 PROTECTING METALWORKING FLUID 107 8.4.4 FORMING METALWORKING FLUID 107 8.4.5 TREATING METALWORKING FLUID 107 8.5 GEAR OIL 107 8.5.1 TECHNOLOGICAL ADVANCEMENTS IN MECHATRONICS TO PROPEL MARKET 107 TABLE 53 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 107 TABLE 54 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 108 TABLE 55 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 108 TABLE 56 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 108 8.5.2 RUST & CORROSION INHIBITED GEAR OIL 109 8.5.3 COMPOUNDED GEAR OIL 109 8.5.4 EXTREME PRESSURE GEAR OIL 109 8.6 COMPRESSOR OIL 109 8.6.1 RISING AUTOMOBILE SECTOR TO INCREASE DEMAND FOR COMPRESSOR OIL 109 TABLE 57 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 109 TABLE 58 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 110 TABLE 59 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 110 TABLE 60 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 110 8.7 GREASE 111 8.7.1 GROWING TRANSPORT INDUSTRY TO FUEL DEMAND FOR GREASE 111 TABLE 61 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 111 TABLE 62 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 111 TABLE 63 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 112 TABLE 64 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 112 8.7.2 METALLIC SOAP THICKENER 112 8.7.3 LITHIUM 112 8.7.4 CALCIUM 113 8.7.5 ALUMINUM 113 8.7.6 SODIUM 113 8.7.7 OTHER METALLIC SOAPS 113 8.7.8 NON-SOAP THICKENER 113 8.7.9 INORGANIC THICKENER 113 8.7.9.1 Clay 113 8.7.9.2 Silica 113 8.7.10 OTHER THICKENERS 114 8.8 TURBINE OIL 114 8.8.1 GROWING POWER GENERATION TO DRIVE TURBINE OIL MARKET 114 TABLE 65 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 114 TABLE 66 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 114 TABLE 67 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 115 TABLE 68 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 115 8.9 OTHERS 115 8.9.1 TRANSFORMER OIL 115 8.9.2 REFRIGERATION OIL 116 8.9.3 TEXTILE MACHINERY LUBRICANTS 116 TABLE 69 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 116 TABLE 70 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 116 TABLE 71 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 117 TABLE 72 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 117 9 LUBRICANTS MARKET, BY END-USE INDUSTRY 118 9.1 INTRODUCTION 119 TABLE 73 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 119 TABLE 74 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 120 TABLE 75 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 121 TABLE 76 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 122 9.2 TRANSPORTATION 122 FIGURE 41 PASSENGER VEHICLE SEGMENT TO BE LARGEST CONSUMER OF LUBRICANTS IN TRANSPORTATION INDUSTRY 123 9.2.1 COMMERCIAL VEHICLES 123 9.2.1.1 Growing need for buses and taxis to drive demand for lubricants in commercial vehicles 123 TABLE 77 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2017–2020 (KILOTON) 124 TABLE 78 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2021–2027 (KILOTON) 124 TABLE 79 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2017–2020 (USD MILLION) 124 TABLE 80 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2021–2027 (USD MILLION) 125 9.2.2 PASSENGER VEHICLES 125 9.2.2.1 Growing demand for passenger cars to significantly influence market 125 TABLE 81 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2017–2020 (KILOTON) 125 TABLE 82 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2021–2027 (KILOTON) 126 TABLE 83 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2017–2020 (USD MILLION) 126 TABLE 84 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2021–2027 (USD MILLION) 126 TABLE 85 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2017–2020 (KILOTON) 127 TABLE 86 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2021–2027 (KILOTON) 127 TABLE 87 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2017–2020 (USD MILLION) 127 TABLE 88 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2021–2027 (USD MILLION) 127 9.2.2.2 4-Wheelers 128 TABLE 89 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (KILOTON) 128 TABLE 90 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (KILOTON) 128 TABLE 91 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (USD MILLION) 129 TABLE 92 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (USD MILLION) 129 9.2.2.3 2-Wheelers 129 TABLE 93 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (KILOTON) 130 TABLE 94 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (KILOTON) 130 TABLE 95 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (USD MILLION) 130 TABLE 96 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (USD MILLION) 131 9.2.3 AVIATION 131 9.2.3.1 Increasing living standards and decreasing airfare to drive market 131 TABLE 97 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2017–2020 (KILOTON) 131 TABLE 98 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2021–2027 (KILOTON) 132 TABLE 99 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2017–2020 (USD MILLION) 132 TABLE 100 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2021–2027 (USD MILLION) 132 9.2.4 MARINE 133 9.2.4.1 Asia Pacific to be largest and fastest-growing market for lubricants in marine industry 133 TABLE 101 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2017–2020 (KILOTON) 133 TABLE 102 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2021–2027 (KILOTON) 133 TABLE 103 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2017–2020 (USD MILLION) 134 TABLE 104 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2021–2027 (USD MILLION) 134 9.2.5 RAILWAYS 135 9.2.5.1 North America to be largest market for lubricants in railways 135 TABLE 105 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2017–2020 (KILOTON) 135 TABLE 106 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2021–2027 (KILOTON) 135 TABLE 107 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2017–2020 (USD MILLION) 136 TABLE 108 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2021–2027 (USD MILLION) 136 9.3 INDUSTRIAL 137 FIGURE 42 CONSTRUCTION TO BE LARGEST CONSUMER OF LUBRICANTS IN INDUSTRIAL SECTOR 137 9.3.1 CONSTRUCTION 138 9.3.1.1 Increased government investments in infrastructure projects to fuel demand 138 TABLE 109 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2017–2020 (KILOTON) 138 TABLE 110 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2021–2027 (KILOTON) 138 TABLE 111 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2017–2020 (USD MILLION) 139 TABLE 112 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2021–2027 (USD MILLION) 139 9.3.2 METAL & MINING 139 9.3.2.1 Consumption in steel production plants to increase demand 139 TABLE 113 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2017–2020 (KILOTON) 140 TABLE 114 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2021–2027 (KILOTON) 140 TABLE 115 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2017–2020 (USD MILLION) 140 TABLE 116 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2021–2027 (USD MILLION) 141 9.3.3 CEMENT PRODUCTION 141 9.3.3.1 Growing construction activities to drive demand 141 TABLE 117 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2017–2020 (KILOTON) 141 TABLE 118 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2021–2027 (KILOTON) 141 TABLE 119 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2017–2020 (USD MILLION) 142 TABLE 120 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2021–2027 (USD MILLION) 142 9.3.4 POWER GENERATION 142 9.3.4.1 Rising awareness regarding renewable sources for power generation to drive demand 142 TABLE 121 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2017–2020 (KILOTON) 143 TABLE 122 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2021–2027 (KILOTON) 143 TABLE 123 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2017–2020 (USD MILLION) 143 TABLE 124 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2021–2027 (USD MILLION) 144 9.3.5 AUTOMOTIVE MANUFACTURING 144 9.3.5.1 Growing demand for automobiles in emerging economies to fuel demand 144 TABLE 125 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2017–2020 (KILOTON) 144 TABLE 126 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2021–2027 (KILOTON) 145 TABLE 127 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2017–2020 (USD MILLION) 145 TABLE 128 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2021–2027 (USD MILLION) 145 9.3.6 CHEMICAL 146 9.3.6.1 Rising demand for fertilizers to drive demand 146 TABLE 129 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2017–2020 (KILOTON) 146 TABLE 130 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2021–2027 (KILOTON) 146 TABLE 131 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2017–2020 (USD MILLION) 147 TABLE 132 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2021–2027 (USD MILLION) 147 9.3.7 OIL & GAS 147 9.3.7.1 Need for long-term stability and smooth functioning of machinery fueling demand 147 TABLE 133 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2017–2020 (KILOTON) 148 TABLE 134 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2021–2027 (KILOTON) 148 TABLE 135 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2017–2020 (USD MILLION) 148 TABLE 136 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2021–2027 (USD MILLION) 149 9.3.8 TEXTILE 149 9.3.8.1 Asia Pacific dominates lubricants market in textile industry 149 TABLE 137 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2017–2020 (KILOTON) 149 TABLE 138 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2021–2027 (KILOTON) 149 TABLE 139 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2017–2020 (USD MILLION) 150 TABLE 140 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2021–2027 (USD MILLION) 150 9.3.9 FOOD PROCESSING 150 9.3.9.1 Growing awareness regarding safe food products to influence market growth 150 TABLE 141 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2017–2020 (KILOTON) 151 TABLE 142 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2021–2027 (KILOTON) 151 TABLE 143 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2017–2020 (USD MILLION) 151 TABLE 144 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2021–2027 (USD MILLION) 152 9.3.10 OTHERS 152 TABLE 145 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (KILOTON) 152 TABLE 146 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2027 (KILOTON) 153 TABLE 147 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (USD MILLION) 153 TABLE 148 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2027 (USD MILLION) 153 10 LUBRICANTS MARKET, BY REGION 154 10.1 INTRODUCTION 155 FIGURE 43 ASIA PACIFIC TO BE LARGEST MARKET FOR LUBRICANTS DURING FORECAST PERIOD 155 TABLE 149 LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 155 TABLE 150 LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 156 TABLE 151 LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 156 TABLE 152 LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 156 10.2 ASIA PACIFIC 157 FIGURE 44 ASIA PACIFIC: LUBRICANTS MARKET SNAPSHOT 157 10.2.1 ASIA PACIFIC LUBRICANTS MARKET, BY BASE OIL 158 TABLE 153 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 158 TABLE 154 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 158 TABLE 155 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 158 TABLE 156 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 159 10.2.2 ASIA PACIFIC LUBRICANTS MARKET, BY PRODUCT TYPE 159 TABLE 157 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (KILOTON) 159 TABLE 158 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (KILOTON) 159 TABLE 159 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (USD MILLION) 160 TABLE 160 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (USD MILLION) 160 10.2.3 ASIA PACIFIC LUBRICANTS MARKET, BY END-USE INDUSTRY 161 TABLE 161 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 161 TABLE 162 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 162 TABLE 163 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 163 TABLE 164 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 164 TABLE 165 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2017–2020 (KILOTON) 164 TABLE 166 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2021–2027 (KILOTON) 165 TABLE 167 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2017–2020 (USD MILLION) 165 TABLE 168 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2021–2027 (USD MILLION) 165 10.2.4 ASIA PACIFIC LUBRICANTS MARKET, BY COUNTRY 166 TABLE 169 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2017–2020 (KILOTON) 166 TABLE 170 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2021–2027 (KILOTON) 166 TABLE 171 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION) 167 TABLE 172 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION) 167 10.2.4.1 China 167 10.2.4.1.1 Increase in population driving demand 167 TABLE 173 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 168 TABLE 174 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 168 TABLE 175 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 168 TABLE 176 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 169 TABLE 177 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 169 TABLE 178 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 169 TABLE 179 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 170 TABLE 180 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 170 10.2.4.2 Japan 170 10.2.4.2.1 Increase in number of vehicles to boost demand 170 TABLE 181 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 171 TABLE 182 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 171 TABLE 183 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 171 TABLE 184 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 171 TABLE 185 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 172 TABLE 186 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 172 TABLE 187 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 173 TABLE 188 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 173 10.2.4.3 India 173 10.2.4.3.1 Rapid urbanization and growth in population to drive demand 173 TABLE 189 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 174 TABLE 190 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 174 TABLE 191 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 174 TABLE 192 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 174 TABLE 193 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 175 TABLE 194 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 175 TABLE 195 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 176 TABLE 196 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 176 10.2.4.4 South Korea 176 10.2.4.4.1 Growing marine industry to have positive impact on market 176 TABLE 197 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 177 TABLE 198 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 177 TABLE 199 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 177 TABLE 200 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 177 TABLE 201 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 178 TABLE 202 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 178 TABLE 203 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 179 TABLE 204 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 179 10.2.4.5 Indonesia 179 10.2.4.5.1 Rising oil production to spur demand 179 TABLE 205 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 180 TABLE 206 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 180 TABLE 207 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 180 TABLE 208 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 181 TABLE 209 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 181 TABLE 210 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 181 TABLE 211 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 182 TABLE 212 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 182 10.2.4.6 Thailand 182 10.2.4.6.1 Increase in production of automotive parts to drive market 182 TABLE 213 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 183 TABLE 214 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 183 TABLE 215 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 183 TABLE 216 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 183 TABLE 217 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 184 TABLE 218 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 184 TABLE 219 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 185 TABLE 220 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 185 10.2.4.7 Australia & New Zealand 185 10.2.4.7.1 Growing mining industry to drive demand 185 TABLE 221 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 186 TABLE 222 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 186 TABLE 223 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 186 TABLE 224 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 187 TABLE 225 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 187 TABLE 226 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 187 TABLE 227 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 188 TABLE 228 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 188
SummaryThe global lubricants market size is projected to reach USD 187.9 billion by 2027 from USD 164.8 billion in 2022, at a CAGR of 2.7%. Lubricants are widely used in transportation and various manufacturing industries. The primary function of lubricants is to reduce friction between moving surfaces and enhance operation. Lubricants are also used in automotive engines for collecting, cleaning, and cooling the engine of a vehicle. These help in reducing the engine wear and tear caused by the friction of the metal parts, as well as to carry off heat. Table of Contents1 INTRODUCTION 321.1 STUDY OBJECTIVES 32 1.2 MARKET DEFINITION 32 1.2.1 LUBRICANTS MARKET: INCLUSIONS & EXCLUSIONS 32 1.2.2 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY BASE OIL 33 1.2.3 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY PRODUCT TYPE 33 1.2.4 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS, BY END-USE INDUSTRY 34 1.3 MARKET SCOPE 34 FIGURE 1 LUBRICANTS: MARKET SEGMENTATION 34 1.3.1 REGION COVERED 35 1.3.2 YEARS CONSIDERED 35 1.4 CURRENCY 36 1.5 UNIT CONSIDERED 36 1.6 LIMITATIONS 36 1.7 STAKEHOLDERS 36 1.8 SUMMARY OF CHANGES 37 2 RESEARCH METHODOLOGY 38 2.1 RESEARCH DATA 38 FIGURE 2 LUBRICANTS MARKET: RESEARCH DESIGN 38 2.1.1 SECONDARY DATA 39 2.1.2 PRIMARY DATA 39 2.1.2.1 Primary interviews – demand and supply sides 39 2.1.2.2 Key industry insights 40 2.1.2.3 Breakdown of primary interviews 41 2.2 MARKET SIZE ESTIMATION 41 2.2.1 BOTTOM-UP APPROACH 42 FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): COLLECTIVE REVENUE OF COMPANIES 42 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL PRODUCTS 42 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 – BOTTOM-UP (DEMAND SIDE): PRODUCTS SOLD 43 2.3 DATA TRIANGULATION 44 FIGURE 6 LUBRICANTS MARKET: DATA TRIANGULATION 44 2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECASTS 45 2.4.1 SUPPLY SIDE 45 FIGURE 7 MARKET GROWTH PROJECTION FROM SUPPLY SIDE 45 2.4.2 DEMAND SIDE 46 FIGURE 8 MARKET GROWTH PROJECTION FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES 46 2.5 FACTOR ANALYSIS 47 2.6 LIMITATIONS 47 2.7 RISK ASSESSMENT 47 TABLE 1 LUBRICANTS MARKET: RISK ASSESSMENT 47 2.8 RESEARCH ASSUMPTIONS 48 3 EXECUTIVE SUMMARY 49 FIGURE 9 MINERAL OIL SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 49 FIGURE 10 ENGINE OIL DOMINATED OVERALL LUBRICANTS MARKET IN 2021 50 FIGURE 11 PASSENGER VEHICLE TO BE DOMINANT CONSUMER OF LUBRICANTS IN TRANSPORTATION SEGMENT 50 FIGURE 12 CONSTRUCTION TO BE LEADING END USER OF LUBRICANTS IN INDUSTRIAL SEGMENT 51 FIGURE 13 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 52 4 PREMIUM INSIGHTS 53 4.1 ATTRACTIVE OPPORTUNITIES IN LUBRICANTS MARKET 53 FIGURE 14 LUBRICANTS MARKET TO WITNESS STEADY GROWTH DURING FORECAST PERIOD 53 4.2 ASIA PACIFIC LUBRICANTS MARKET, BY BASE OIL AND COUNTRY 53 FIGURE 15 CHINA LED ASIA PACIFIC LUBRICANTS MARKET IN 2021 53 4.3 LUBRICANTS MARKET, BY REGION 54 FIGURE 16 ASIA PACIFIC TO BE LARGEST MARKET FOR LUBRICANTS DURING FORECAST PERIOD 54 4.4 LUBRICANTS MARKET SIZE, END-USE INDUSTRY V/S REGION, 2021 54 FIGURE 17 TRANSPORTATION ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 54 4.5 LUBRICANTS MARKET ATTRACTIVENESS 55 FIGURE 18 CHINA PROJECTED TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 55 5 MARKET OVERVIEW 56 5.1 INTRODUCTION 56 5.2 MARKET DYNAMICS 56 FIGURE 19 FACTORS GOVERNING LUBRICANTS MARKET 56 5.2.1 DRIVERS 57 5.2.1.1 Increased demand for high-performance engines 57 5.2.1.2 Expansion of refinery capacities driving demand for Group II and Group III base oils 57 5.2.1.3 Emission and fuel efficiency norms to drive demand in emerging markets 57 TABLE 2 IMPLEMENTATION OF EMISSION STANDARDS FOR LIGHT-DUTY VEHICLES IN CHINA 58 5.2.1.4 Increasing demand from marine applications 59 5.2.1.5 Limitations on shift to electric vehicles 59 FIGURE 20 COST COMPARISON OF EV AND ICE VEHICLES 59 5.2.2 RESTRAINTS 60 5.2.2.1 Shift toward synthetic lubricants reducing overall demand for lubricants 60 5.2.2.2 Rising demand for electric vehicles and reducing prices of battery 60 FIGURE 21 GOVERNMENT TARGETS FOR ELECTRIC VEHICLES 61 5.2.3 OPPORTUNITIES 61 5.2.3.1 Leveraging e-commerce industry to increase customer reach 61 5.2.3.2 Demand for renewable energy 61 5.2.3.3 Increasing demand for bio-based lubricants 62 5.2.3.4 Increasing demand from mining, construction, and agriculture industries 62 5.2.4 CHALLENGES 62 5.2.4.1 Stringent environmental norms and continuous reforms by governments 62 5.2.4.2 Rising raw material prices 63 TABLE 3 CRUDE OIL PRICE FORECAST 63 5.3 PORTER'S FIVE FORCES ANALYSIS 64 FIGURE 22 LUBRICANTS MARKET: PORTER'S FIVE FORCES ANALYSIS 64 5.3.1 THREAT OF SUBSTITUTES 64 5.3.2 THREAT OF NEW ENTRANTS 65 5.3.3 BARGAINING POWER OF SUPPLIERS 65 5.3.4 BARGAINING POWER OF BUYERS 65 5.3.5 INTENSITY OF COMPETITIVE RIVALRY 65 TABLE 4 LUBRICANTS MARKET: PORTER'S FIVE FORCES ANALYSIS 65 5.4 MACROECONOMIC INDICATORS 66 5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES 66 TABLE 5 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2020–2027 (USD BILLION) 66 6 INDUSTRY TRENDS 67 6.1 SUPPLY CHAIN ANALYSIS 67 FIGURE 23 LUBRICANTS MARKET: SUPPLY CHAIN ANALYSIS 67 6.1.1 RAW MATERIALS 68 6.1.2 MANUFACTURING OF LUBRICANTS 68 6.1.3 DISTRIBUTION TO END USERS 68 6.2 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES 68 6.2.1 REVENUE SHIFT & REVENUE POCKETS FOR LUBRICANTS 68 FIGURE 24 LUBRICANTS MARKET: FUTURE REVENUE MIX 68 6.3 CONNECTED MARKETS: ECOSYSTEM ANALYSIS 69 FIGURE 25 LUBRICANTS MARKET: ECOSYSTEM MAPPING 69 TABLE 6 LUBRICANTS MARKET: ROLE IN ECOSYSTEM 70 6.4 TECHNOLOGY ANALYSIS 71 6.4.1 RE-REFINING TECHNOLOGY 71 6.4.2 SO2 SCRUBBING SYSTEM TECHNOLOGY 71 6.4.3 NANOTECHNOLOGY IN LUBRICANTS 71 6.5 OPPORTUNITY ANALYSIS FOR MOTOR OIL IN POWER GENERATION INDUSTRY 72 TABLE 7 MOTOR OIL LUBRICANTS MARKET SIZE, BY POWER PLANT TYPE, 2021–2035 (MILLION GALLONS) 72 TABLE 8 MOTOR OIL LUBRICANTS MARKET SIZE, BY POWER PLANT TYPE, 2021–2035 (USD MILLION) 72 6.6 CASE STUDY ANALYSIS 72 6.6.1 CASE STUDY ON COMPRESSOR LUBRICANT 72 6.6.2 CASE STUDY ON SYNTHETIC LUBRICANT 72 6.6.3 CASE STUDY ON HYDRAULIC FLUIDS 73 6.6.4 CASE STUDY ON COMPRESSOR OIL 73 6.7 KEY STAKEHOLDERS AND BUYING CRITERIA 73 6.7.1 KEY STAKEHOLDERS IN BUYING PROCESS 73 FIGURE 26 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES 73 TABLE 9 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRY (%) 74 6.7.2 BUYING CRITERIA 74 FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES 74 TABLE 10 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES 74 6.8 LUBRICANTS MARKET: REALISTIC, PESSIMISTIC, OPTIMISTIC, AND NON-COVID-19 SCENARIOS 75 FIGURE 28 MARKET SIZE UNDER REALISTIC, PESSIMISTIC, OPTIMISTIC, AND NON-COVID-19 SCENARIOS 75 TABLE 11 LUBRICANTS MARKET FORECAST SCENARIO, 2019–2027 (USD MILLION) 75 6.8.1 NON-COVID-19 SCENARIO 75 6.8.2 OPTIMISTIC SCENARIO 75 6.8.3 PESSIMISTIC SCENARIO 76 6.8.4 REALISTIC SCENARIO 76 6.9 PRICING ANALYSIS 76 6.9.1 AVERAGE SELLING PRICE OF BASE OIL, BY KEY PLAYERS 76 FIGURE 29 AVERAGE SELLING PRICES OF KEY PLAYERS FOR TOP THREE BASE OILS 76 TABLE 12 AVERAGE SELLING PRICES OF KEY PLAYERS FOR TOP THREE BASE OILS (USD/KG) 76 6.9.2 AVERAGE SELLING PRICE, BY REGION 77 FIGURE 30 AVERAGE SELLING PRICES OF LUBRICANTS, BY REGION (2020–2027) 77 TABLE 13 AVERAGE SELLING PRICES OF LUBRICANTS, BY REGION, 2020–2027 (USD/KG) 77 6.10 TRADE DATA STATISTICS 78 6.10.1 IMPORT SCENARIO OF LUBRICANTS 78 FIGURE 31 LUBRICANTS IMPORT, BY KEY COUNTRIES (2013–2021) 78 TABLE 14 IMPORT OF LUBRICANTS, BY REGION, 2013–2021 (USD BILLION) 78 6.10.2 EXPORT SCENARIO OF LUBRICANTS 79 FIGURE 32 LUBRICANTS EXPORT, BY KEY COUNTRY (2013–2021) 79 TABLE 15 EXPORT OF LUBRICANTS, BY REGION, 2013–2021 (USD BILLION) 79 6.11 GLOBAL REGULATORY FRAMEWORK AND ITS IMPACT ON LUBRICANTS MARKET 80 6.11.1 REGULATIONS RELATED TO LUBRICANTS 80 6.12 KEY CONFERENCES & EVENTS (2022–2023) 81 TABLE 16 LUBRICANTS MARKET: LIST OF CONFERENCES & EVENTS 81 6.13 PATENT ANALYSIS 82 6.13.1 APPROACH 82 6.13.2 DOCUMENT TYPE 82 TABLE 17 GRANTED PATENTS ACCOUNTED FOR 26% OF ALL PATENTS 82 FIGURE 33 PATENTS REGISTERED IN LUBRICANTS MARKET, 2011–2021 82 FIGURE 34 PATENT PUBLICATION TRENDS, 2011–2021 83 FIGURE 35 LEGAL STATUS OF PATENTS FILED IN LUBRICANTS MARKET 83 6.13.3 JURISDICTION ANALYSIS 84 FIGURE 36 MAXIMUM PATENTS FILED IN JURISDICTION OF CHINA 84 6.13.4 TOP APPLICANTS 84 FIGURE 37 BASF SE REGISTERED MAXIMUM NUMBER OF PATENTS BETWEEN 2011 AND 2021 84 TABLE 18 PATENTS BY BASF SE 85 TABLE 19 TOP 10 PATENT OWNERS IN US, 2011–2021 85 7 LUBRICANTS MARKET, BY BASE OIL 86 7.1 INTRODUCTION 87 TABLE 20 CATEGORY OF BASE OILS 87 FIGURE 38 MINERAL OIL LUBRICANTS TO DOMINATE OVERALL LUBRICANTS MARKET DURING FORECAST PERIOD 88 TABLE 21 LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 88 TABLE 22 LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 88 TABLE 23 LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 89 TABLE 24 LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 89 7.2 MINERAL OIL LUBRICANTS 89 7.2.1 GROWING EMPHASIS ON PREMIUM GRADE PRODUCTS TO AFFECT MINERAL OIL LUBRICANTS 89 TABLE 25 MINERAL OIL LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 90 TABLE 26 MINERAL OIL LUBRICANTS MARKET SIZE BY REGION, 2021–2027 (KILOTON) 90 TABLE 27 MINERAL OIL LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 91 TABLE 28 MINERAL OIL LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 91 7.3 SYNTHETIC LUBRICANTS 91 FIGURE 39 FACTORS AFFECTING GLOBAL SYNTHETIC LUBRICANTS MARKET 92 TABLE 29 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 92 TABLE 30 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 93 TABLE 31 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 93 TABLE 32 SYNTHETIC LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 93 7.3.1 POLYALPHAOLEFINS (PAO) 94 7.3.2 POLYALKYLENE GLYCOL (PAG) 94 7.3.3 ESTERS 94 7.3.4 GROUP III (HYDROCRACKING) 94 7.4 BIO-BASED LUBRICANTS 94 7.4.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR BIO-BASED LUBRICANTS 94 TABLE 33 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 95 TABLE 34 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 95 TABLE 35 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 96 TABLE 36 BIO-BASED LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 96 8 LUBRICANTS MARKET, BY PRODUCT TYPE 97 8.1 INTRODUCTION 98 FIGURE 40 ENGINE OIL TO DOMINATE OVERALL LUBRICANTS MARKET BETWEEN 2022 AND 2027 98 TABLE 37 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (KILOTON) 99 TABLE 38 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (KILOTON) 99 TABLE 39 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (USD MILLION) 100 TABLE 40 LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (USD MILLION) 100 8.2 ENGINE OIL 100 8.2.1 ENVIRONMENTAL REGULATIONS TO LIMIT FUTURE GROWTH 100 TABLE 41 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 101 TABLE 42 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 101 TABLE 43 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 102 TABLE 44 ENGINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 102 8.3 HYDRAULIC OIL 102 8.3.1 GROWING CONSTRUCTION INDUSTRY TO DRIVE MARKET 102 TABLE 45 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 103 TABLE 46 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 103 TABLE 47 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 103 TABLE 48 HYDRAULIC OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 104 8.3.2 HL HYDRAULIC FLUID 104 8.3.3 HLP HYDRAULIC FLUID 104 8.3.4 HLP-D HYDRAULIC FLUID 104 8.3.5 FIRE-RESISTANT HYDRAULIC FLUID 104 8.4 METALWORKING FLUID 105 8.4.1 GROWING STEEL INDUSTRY TO FUEL DEMAND 105 TABLE 49 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 105 TABLE 50 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 105 TABLE 51 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 106 TABLE 52 METALWORKING FLUID: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 106 8.4.2 REMOVAL METALWORKING FLUID 106 8.4.3 PROTECTING METALWORKING FLUID 107 8.4.4 FORMING METALWORKING FLUID 107 8.4.5 TREATING METALWORKING FLUID 107 8.5 GEAR OIL 107 8.5.1 TECHNOLOGICAL ADVANCEMENTS IN MECHATRONICS TO PROPEL MARKET 107 TABLE 53 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 107 TABLE 54 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 108 TABLE 55 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 108 TABLE 56 GEAR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 108 8.5.2 RUST & CORROSION INHIBITED GEAR OIL 109 8.5.3 COMPOUNDED GEAR OIL 109 8.5.4 EXTREME PRESSURE GEAR OIL 109 8.6 COMPRESSOR OIL 109 8.6.1 RISING AUTOMOBILE SECTOR TO INCREASE DEMAND FOR COMPRESSOR OIL 109 TABLE 57 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 109 TABLE 58 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 110 TABLE 59 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 110 TABLE 60 COMPRESSOR OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 110 8.7 GREASE 111 8.7.1 GROWING TRANSPORT INDUSTRY TO FUEL DEMAND FOR GREASE 111 TABLE 61 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 111 TABLE 62 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 111 TABLE 63 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 112 TABLE 64 GREASE: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 112 8.7.2 METALLIC SOAP THICKENER 112 8.7.3 LITHIUM 112 8.7.4 CALCIUM 113 8.7.5 ALUMINUM 113 8.7.6 SODIUM 113 8.7.7 OTHER METALLIC SOAPS 113 8.7.8 NON-SOAP THICKENER 113 8.7.9 INORGANIC THICKENER 113 8.7.9.1 Clay 113 8.7.9.2 Silica 113 8.7.10 OTHER THICKENERS 114 8.8 TURBINE OIL 114 8.8.1 GROWING POWER GENERATION TO DRIVE TURBINE OIL MARKET 114 TABLE 65 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 114 TABLE 66 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 114 TABLE 67 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 115 TABLE 68 TURBINE OIL: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 115 8.9 OTHERS 115 8.9.1 TRANSFORMER OIL 115 8.9.2 REFRIGERATION OIL 116 8.9.3 TEXTILE MACHINERY LUBRICANTS 116 TABLE 69 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 116 TABLE 70 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 116 TABLE 71 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 117 TABLE 72 OTHERS: LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 117 9 LUBRICANTS MARKET, BY END-USE INDUSTRY 118 9.1 INTRODUCTION 119 TABLE 73 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 119 TABLE 74 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 120 TABLE 75 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 121 TABLE 76 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 122 9.2 TRANSPORTATION 122 FIGURE 41 PASSENGER VEHICLE SEGMENT TO BE LARGEST CONSUMER OF LUBRICANTS IN TRANSPORTATION INDUSTRY 123 9.2.1 COMMERCIAL VEHICLES 123 9.2.1.1 Growing need for buses and taxis to drive demand for lubricants in commercial vehicles 123 TABLE 77 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2017–2020 (KILOTON) 124 TABLE 78 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2021–2027 (KILOTON) 124 TABLE 79 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2017–2020 (USD MILLION) 124 TABLE 80 LUBRICANTS MARKET SIZE IN COMMERCIAL VEHICLE, BY REGION, 2021–2027 (USD MILLION) 125 9.2.2 PASSENGER VEHICLES 125 9.2.2.1 Growing demand for passenger cars to significantly influence market 125 TABLE 81 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2017–2020 (KILOTON) 125 TABLE 82 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2021–2027 (KILOTON) 126 TABLE 83 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2017–2020 (USD MILLION) 126 TABLE 84 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY REGION, 2021–2027 (USD MILLION) 126 TABLE 85 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2017–2020 (KILOTON) 127 TABLE 86 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2021–2027 (KILOTON) 127 TABLE 87 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2017–2020 (USD MILLION) 127 TABLE 88 LUBRICANTS MARKET SIZE IN PASSENGER VEHICLE, BY SUB-SEGMENT, 2021–2027 (USD MILLION) 127 9.2.2.2 4-Wheelers 128 TABLE 89 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (KILOTON) 128 TABLE 90 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (KILOTON) 128 TABLE 91 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (USD MILLION) 129 TABLE 92 LUBRICANTS MARKET SIZE IN 4-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (USD MILLION) 129 9.2.2.3 2-Wheelers 129 TABLE 93 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (KILOTON) 130 TABLE 94 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (KILOTON) 130 TABLE 95 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2017–2020 (USD MILLION) 130 TABLE 96 LUBRICANTS MARKET SIZE IN 2-WHEELER PASSENGER VEHICLE, BY REGION, 2021–2027 (USD MILLION) 131 9.2.3 AVIATION 131 9.2.3.1 Increasing living standards and decreasing airfare to drive market 131 TABLE 97 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2017–2020 (KILOTON) 131 TABLE 98 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2021–2027 (KILOTON) 132 TABLE 99 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2017–2020 (USD MILLION) 132 TABLE 100 LUBRICANTS MARKET SIZE IN AVIATION, BY REGION, 2021–2027 (USD MILLION) 132 9.2.4 MARINE 133 9.2.4.1 Asia Pacific to be largest and fastest-growing market for lubricants in marine industry 133 TABLE 101 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2017–2020 (KILOTON) 133 TABLE 102 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2021–2027 (KILOTON) 133 TABLE 103 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2017–2020 (USD MILLION) 134 TABLE 104 LUBRICANTS MARKET SIZE IN MARINE, BY REGION, 2021–2027 (USD MILLION) 134 9.2.5 RAILWAYS 135 9.2.5.1 North America to be largest market for lubricants in railways 135 TABLE 105 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2017–2020 (KILOTON) 135 TABLE 106 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2021–2027 (KILOTON) 135 TABLE 107 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2017–2020 (USD MILLION) 136 TABLE 108 LUBRICANTS MARKET SIZE IN RAILWAYS, BY REGION, 2021–2027 (USD MILLION) 136 9.3 INDUSTRIAL 137 FIGURE 42 CONSTRUCTION TO BE LARGEST CONSUMER OF LUBRICANTS IN INDUSTRIAL SECTOR 137 9.3.1 CONSTRUCTION 138 9.3.1.1 Increased government investments in infrastructure projects to fuel demand 138 TABLE 109 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2017–2020 (KILOTON) 138 TABLE 110 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2021–2027 (KILOTON) 138 TABLE 111 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2017–2020 (USD MILLION) 139 TABLE 112 LUBRICANTS MARKET SIZE IN CONSTRUCTION, BY REGION, 2021–2027 (USD MILLION) 139 9.3.2 METAL & MINING 139 9.3.2.1 Consumption in steel production plants to increase demand 139 TABLE 113 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2017–2020 (KILOTON) 140 TABLE 114 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2021–2027 (KILOTON) 140 TABLE 115 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2017–2020 (USD MILLION) 140 TABLE 116 LUBRICANTS MARKET SIZE IN METAL & MINING, BY REGION, 2021–2027 (USD MILLION) 141 9.3.3 CEMENT PRODUCTION 141 9.3.3.1 Growing construction activities to drive demand 141 TABLE 117 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2017–2020 (KILOTON) 141 TABLE 118 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2021–2027 (KILOTON) 141 TABLE 119 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2017–2020 (USD MILLION) 142 TABLE 120 LUBRICANTS MARKET SIZE IN CEMENT PRODUCTION, BY REGION, 2021–2027 (USD MILLION) 142 9.3.4 POWER GENERATION 142 9.3.4.1 Rising awareness regarding renewable sources for power generation to drive demand 142 TABLE 121 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2017–2020 (KILOTON) 143 TABLE 122 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2021–2027 (KILOTON) 143 TABLE 123 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2017–2020 (USD MILLION) 143 TABLE 124 LUBRICANTS MARKET SIZE IN POWER GENERATION, BY REGION, 2021–2027 (USD MILLION) 144 9.3.5 AUTOMOTIVE MANUFACTURING 144 9.3.5.1 Growing demand for automobiles in emerging economies to fuel demand 144 TABLE 125 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2017–2020 (KILOTON) 144 TABLE 126 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2021–2027 (KILOTON) 145 TABLE 127 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2017–2020 (USD MILLION) 145 TABLE 128 LUBRICANTS MARKET SIZE IN AUTOMOTIVE MANUFACTURING, BY REGION, 2021–2027 (USD MILLION) 145 9.3.6 CHEMICAL 146 9.3.6.1 Rising demand for fertilizers to drive demand 146 TABLE 129 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2017–2020 (KILOTON) 146 TABLE 130 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2021–2027 (KILOTON) 146 TABLE 131 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2017–2020 (USD MILLION) 147 TABLE 132 LUBRICANTS MARKET SIZE IN CHEMICAL, BY REGION, 2021–2027 (USD MILLION) 147 9.3.7 OIL & GAS 147 9.3.7.1 Need for long-term stability and smooth functioning of machinery fueling demand 147 TABLE 133 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2017–2020 (KILOTON) 148 TABLE 134 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2021–2027 (KILOTON) 148 TABLE 135 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2017–2020 (USD MILLION) 148 TABLE 136 LUBRICANTS MARKET SIZE IN OIL & GAS, BY REGION, 2021–2027 (USD MILLION) 149 9.3.8 TEXTILE 149 9.3.8.1 Asia Pacific dominates lubricants market in textile industry 149 TABLE 137 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2017–2020 (KILOTON) 149 TABLE 138 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2021–2027 (KILOTON) 149 TABLE 139 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2017–2020 (USD MILLION) 150 TABLE 140 LUBRICANTS MARKET SIZE IN TEXTILE, BY REGION, 2021–2027 (USD MILLION) 150 9.3.9 FOOD PROCESSING 150 9.3.9.1 Growing awareness regarding safe food products to influence market growth 150 TABLE 141 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2017–2020 (KILOTON) 151 TABLE 142 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2021–2027 (KILOTON) 151 TABLE 143 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2017–2020 (USD MILLION) 151 TABLE 144 LUBRICANTS MARKET SIZE IN FOOD PROCESSING, BY REGION, 2021–2027 (USD MILLION) 152 9.3.10 OTHERS 152 TABLE 145 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (KILOTON) 152 TABLE 146 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2027 (KILOTON) 153 TABLE 147 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (USD MILLION) 153 TABLE 148 LUBRICANTS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2027 (USD MILLION) 153 10 LUBRICANTS MARKET, BY REGION 154 10.1 INTRODUCTION 155 FIGURE 43 ASIA PACIFIC TO BE LARGEST MARKET FOR LUBRICANTS DURING FORECAST PERIOD 155 TABLE 149 LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (KILOTON) 155 TABLE 150 LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (KILOTON) 156 TABLE 151 LUBRICANTS MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 156 TABLE 152 LUBRICANTS MARKET SIZE, BY REGION, 2021–2027 (USD MILLION) 156 10.2 ASIA PACIFIC 157 FIGURE 44 ASIA PACIFIC: LUBRICANTS MARKET SNAPSHOT 157 10.2.1 ASIA PACIFIC LUBRICANTS MARKET, BY BASE OIL 158 TABLE 153 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 158 TABLE 154 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 158 TABLE 155 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 158 TABLE 156 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 159 10.2.2 ASIA PACIFIC LUBRICANTS MARKET, BY PRODUCT TYPE 159 TABLE 157 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (KILOTON) 159 TABLE 158 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (KILOTON) 159 TABLE 159 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2017–2020 (USD MILLION) 160 TABLE 160 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PRODUCT TYPE, 2021–2027 (USD MILLION) 160 10.2.3 ASIA PACIFIC LUBRICANTS MARKET, BY END-USE INDUSTRY 161 TABLE 161 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 161 TABLE 162 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 162 TABLE 163 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 163 TABLE 164 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 164 TABLE 165 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2017–2020 (KILOTON) 164 TABLE 166 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2021–2027 (KILOTON) 165 TABLE 167 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2017–2020 (USD MILLION) 165 TABLE 168 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY PASSENGER VEHICLE TYPE, 2021–2027 (USD MILLION) 165 10.2.4 ASIA PACIFIC LUBRICANTS MARKET, BY COUNTRY 166 TABLE 169 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2017–2020 (KILOTON) 166 TABLE 170 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2021–2027 (KILOTON) 166 TABLE 171 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION) 167 TABLE 172 ASIA PACIFIC: LUBRICANTS MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION) 167 10.2.4.1 China 167 10.2.4.1.1 Increase in population driving demand 167 TABLE 173 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 168 TABLE 174 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 168 TABLE 175 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 168 TABLE 176 CHINA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 169 TABLE 177 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 169 TABLE 178 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 169 TABLE 179 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 170 TABLE 180 CHINA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 170 10.2.4.2 Japan 170 10.2.4.2.1 Increase in number of vehicles to boost demand 170 TABLE 181 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 171 TABLE 182 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 171 TABLE 183 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 171 TABLE 184 JAPAN: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 171 TABLE 185 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 172 TABLE 186 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 172 TABLE 187 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 173 TABLE 188 JAPAN: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 173 10.2.4.3 India 173 10.2.4.3.1 Rapid urbanization and growth in population to drive demand 173 TABLE 189 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 174 TABLE 190 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 174 TABLE 191 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 174 TABLE 192 INDIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 174 TABLE 193 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 175 TABLE 194 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 175 TABLE 195 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 176 TABLE 196 INDIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 176 10.2.4.4 South Korea 176 10.2.4.4.1 Growing marine industry to have positive impact on market 176 TABLE 197 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 177 TABLE 198 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 177 TABLE 199 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 177 TABLE 200 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 177 TABLE 201 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 178 TABLE 202 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 178 TABLE 203 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 179 TABLE 204 SOUTH KOREA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 179 10.2.4.5 Indonesia 179 10.2.4.5.1 Rising oil production to spur demand 179 TABLE 205 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 180 TABLE 206 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 180 TABLE 207 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 180 TABLE 208 INDONESIA: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 181 TABLE 209 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 181 TABLE 210 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 181 TABLE 211 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 182 TABLE 212 INDONESIA: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 182 10.2.4.6 Thailand 182 10.2.4.6.1 Increase in production of automotive parts to drive market 182 TABLE 213 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 183 TABLE 214 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 183 TABLE 215 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 183 TABLE 216 THAILAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 183 TABLE 217 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 184 TABLE 218 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 184 TABLE 219 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 185 TABLE 220 THAILAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 185 10.2.4.7 Australia & New Zealand 185 10.2.4.7.1 Growing mining industry to drive demand 185 TABLE 221 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (KILOTON) 186 TABLE 222 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (KILOTON) 186 TABLE 223 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2017–2020 (USD MILLION) 186 TABLE 224 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY BASE OIL, 2021–2027 (USD MILLION) 187 TABLE 225 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (KILOTON) 187 TABLE 226 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (KILOTON) 187 TABLE 227 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION) 188 TABLE 228 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION) 188
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