DUBLIN, Dec. 15, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/39pwd8/lubricants_market) has announced the addition of the "Lubricants Market by Type, by Application - Global Trends & Forecasts to 2019" report to their offering.
The global market is witnessing a slow growth rate and is driven by the development of the end-user industries in the emerging markets. The global lubricants market was estimated to register a consumption of 37,978.2 KT in 2013, and is poised to witness a CAGR of 2.1% between 2014 and 2019. The market has been segmented into four categories based on the type, namely, mineral oil lubricants, synthetic lubricants, bio-based lubricants, and greases.
The global lubricants market is projected to reach $162.3 billion by 2019 and is growing with a CAGR of 2.5% between 2014 and 2019. Lubricants are used in a number of different industries. The report covers application of lubricants in the transportation, and industrial machinery, and equipment.
The stringent environmental regulations have fueled the demand for synthetic and bio-based lubricants in the transportation application. The demand from industries for lubricants has increased for these types based on the need for enhancing efficiency and reducing costs. Utilization of synthetic lubricants has increased in the automotive industry in the recent past for their superior properties. The use of synthetic lubricants accounted for around 10.0% of the total lubricants market in terms of volume.
The market in Asia-Pacific, Europe, North America, the Middle East & Africa, and South America has been studied in detail. Since the major portion of lubricants is used in the automotive industry, the markets for lubricants in Asia-Pacific and the Middle East & Africa are witnessing the fastest growth. Together they accounted for over 50.0% of the total market in 2013. This growth may be attributed to high production and sales of vehicles in these regions. The growth rate in the Asia-Pacific region is expected to increase in the projected period due high demand. The Asia-Pacific lubricants market is expected to register a CAGR of 3.0% between 2014 and 2019.
The report covers the lubricants market by key regions and major countries in each region. It also provides a detailed segmentation of the market on the basis of material type, and by application, along with projections till 2019.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Lubricants Market, By Type
8 Lubricants Market, By Application
9 Lubricants Market, Regional Analysis
10 Competitive Landscape
11 Company Profiles
- Exxon Mobil
- Fuchs Petrolub
- Idemitsu Kosan
- Petrochina Company
- Royal Dutch Shell
- Sinopec Limited
For more information visit http://www.researchandmarkets.com/research/39pwd8/lubricants_marke
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Source:Research and Markets