Lubricants Market

Lubricants Market by Base Oil Type (Mineral Oil Lubricant, Synthetic Lubricants, Bio-based Lubricants), Product Type (Engine Oil, Turbine Oil, Metalworking Fluid, hydraulic Oil), End-use Industry (Transportation and Industrial) - Global Forecast to 2029

Report Code: CH 2730 Apr, 2024, by marketsandmarkets.com

In terms of value, the lubricants market is estimated to grow from USD 173.5 billion in 2024 to USD 198.4 billion by 2029, at a CAGR of 2.7%.  One of the major reasons for making a positive outlook for the lubricants market is the mounting demand for high performance engines, growing demand from marine application and limitations of electric vehicles. Also, technological advancements in the lubricants are pushing the market. Due to these reasons, the consumption of lubricants has grown significantly

Lubricants Market

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Lubricants Market

Market Dynamics

Driver: mounting demand from marine applications across worldwide

The global demand for marine applications is boosting the lubricants market due to several factors. Increased seaborne trade is driving shipping volumes and fleet sizes, leading to higher demand for marine lubricants. Stricter environmental regulations are pushing ship operators towards eco-friendly lubricants. Marine lubricants also enhance fuel efficiency and reduce operational costs, meeting stringent regulations from the International Maritime Organization. The growing tourism sector, especially for cruise ships, is favoring demand for marine lubricants. Additionally, ongoing research and technological advancements in lubricant formulations are meeting the evolving needs of the marine industry. Overall, the rising demand for marine applications worldwide is driving the lubricants market forward, emphasizing environmental sustainability, fuel efficiency, cost-effectiveness, tourism sector growth, and technological innovation.

Restraints: growing demand of electric vehicles

The rise of electric vehicles is impacting the lubricants market in several ways. With lower maintenance requirements and extended oil change intervals, there's reduced demand for traditional lubricants. This trend is expected to slow down market volume growth. Additionally, lubricant manufacturers face challenges in adapting to this shift, needing to innovate and develop specialized products for electric vehicles to remain competitive. Overall, the increasing popularity of electric vehicles is reshaping the lubricants market landscape.

Opportunities: Growing demand from construction, mining, and agriculture industries

The booming mining, construction, and agriculture sectors are propelling growth in the lubricants market through increased equipment utilization and a focus on performance and efficiency. These industries heavily rely on machinery such as heavy-duty trucks, excavators, bulldozers, tractors, and harvesters, necessitating high-quality lubricants to ensure smooth operation and longevity. With modern machinery designed for optimal performance under harsh conditions, there is a growing demand for specialty lubricants capable of meeting these stringent requirements. Moreover, the geographic expansion of construction and mining activities, particularly in regions like Asia Pacific and the Middle East, further drives the demand for lubricants as more machinery is put to use. This industrial growth creates opportunities for the lubricants market to thrive by catering to the ongoing need for efficient machinery operation and maintenance.

Challenges: Strict environmental norms

Strict environmental regulations present a significant hurdle for the lubricants market. To comply with these regulations, manufacturers must develop products that are eco-friendly, emit fewer pollutants, and degrade naturally. Additionally, the industry faces pressure to transition towards renewable energy sources and bio-based lubricants to align with sustainability goals. This shift poses challenges but also opens up opportunities for growth. Moreover, the rise of cleaner technologies like hybrid and electric systems threatens the demand for traditional lubricants, potentially impacting Market Dynamics

. Overall, navigating environmental regulations requires innovation and adaptation, presenting both challenges and opportunities for the lubricants industry.

Lubricants
Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers of lubricants. These companies have been in business for a while and have a broad range of products, cutting-edge technologies, and robust international sales and marketing networks. Prominent companies in this market include Shell plc (UK), Exxon Mobil Corporation (US), BP p.l.c. (UK), Chevron Corporation (US), PetroChina Company Limited (China), TotalEnergies SE (France), ENEOS Holdings, Inc. (Japan), China Petroleum & Chemical Corporation (China), and among others.

Lubricants Market Ecosystem

Based on base oil type, synthetic lubricants is projected to register highest CAGR in lubricants market, in terms of value, during forecast period.

Synthetic lubricants is projected to be the fastest growing base oil type, in terms of value of the lubricants market, due to shifting consumer preferences towards eco-friendly and sustainable products, and rising population. With a growing awareness of the health and environmental benefits of synthetic lubricants, consumers are increasingly seeking products free from synthetic chemicals. This demand is further bolstered by stringent government regulations aimed at promoting safety and transparency regarding synthetic lubricants. Consequently, manufacturers are adapting to these changing dynamics by investing in research and development of natural alternatives, driving innovation and expansion in the synthetic lubricatns market.

Based on product type, hydraulic oil was the fourth-largest segment of lubricants market, in terms of value, in 2023.

Hydraulic oil holds the position as the fourth-largest product type in the lubricants market due to its widespread usage across diverse industries. It serves a vital role in hydraulic systems found in industrial and transportation sectors. Hydraulic oil facilitates efficient power transmission, lubricates moving parts, and ensures the smooth operation of hydraulic machinery. The increasing adoption of hydraulic equipment in heavy machinery and vehicles significantly drives the demand for hydraulic oil. Moreover, as hydraulic technology advances, the need for high-performance hydraulic oils continues to grow to maintain optimal performance and extend equipment lifespan. Thus, the versatility and essential function of hydraulic oil contribute to its prominence in the lubricants market.

Asia Pacific was the largest and projected to be the fastest-growing region, in terms of value, during the forecast period in the lubricants market.

Asia Pacific was the largest and projected to be fastest-growing region in the lubricants market, in terms of value, during forecast period due to several factors. Increased industrialization and urbanization, particularly in countries like China and India, are impelling demand across end-use industries such as automotive, manufacturing, agriculture and construction. Rising incomes and expanding vehicle ownership rates are further driving lubricant demand in the automotive industry. Moreover, ongoing investments in transportation and infrastructure are expected to fuel significant growth in lubricant consumption in the region. In summary, the Asia Pacific's dynamic economic growth and industrial expansion position it as a key driver of growth in the lubricants market.

Lubricants Market by Region

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Key Market Players

Shell plc (UK), Exxon Mobil Corporation (US), BP p.l.c. (UK), Chevron Corporation (US), PetroChina Company Limited (China), TotalEnergies SE (France), ENEOS Holdings, Inc. (Japan), China Petroleum & Chemical Corporation (China), Idemitsu Kosan Co., Ltd. (Japan),  and among others, these are the key manufacturers that secured major market share in the last few years.

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Scope of the Report

Report Metric

Details

Years considered for the study

2018–2029

Base year considered

2023

Forecast period

2024–2029

Units considered

Volume (Kiloton) and Value (USD Million)

Segments Covered

Base Oil Type, Product Type, End-use Industry, and Region

Regions covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies profiled

The key players profiled in the report include Shell plc (UK), Exxon Mobil Corporation (US), BP p.l.c. (UK), Chevron Corporation (US), PetroChina Company Limited (China), TotalEnergies SE (France), ENEOS Holdings, Inc. (Japan), China Petroleum & Chemical Corporation (China), and others.

 

This report categorizes the global Lubricants Market based on ingredient type, application, and region.

On the basis of base oil type, the Lubricants Market has been segmented as follows:
  • Mineral Oil Lubricants
  • Synthetic Lubricants
  • Bio-based Lubricants
On the basis of product type, the Lubricants Market has been segmented as follows:
  • Engine Oil
  • Hydraulic Oil
  • Compressor Oil
  • Metalworking Fluid
  • Gear Oil
  • Turbine Oil
  • Grease
  • Other Product Types
On the basis of End-use Industry, the Lubricants Market has been segmented as follows:
  • Transportation
  • Commercial Vehicle
  • Passenger Vehicle
  • 4-Wheeler Vehicle (PCMO)
  • 2-Wheeler Vehicle (MCO)
  • Aviation
  • Marine
  • Railways
  • Industrial
  • Construction
  • Metal & Mining Production
  • Cement Production
  • Power Generation
  • Automotive (Vehicle Manufacturing)
  • Chemical
  • Oil & Gas
  • Textile
  • Food Processing
  • Others
On the basis of region, the Lubricants Market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • Middle East & Arica
  • South America

Recent Developments

  • In January 2024, Shell plc has completed the acquisition of MIDEL and MIVOLT, from Manchester-based M&I Materials Ltd.
  • In January 2021, BP p.l.c. had set up a digital hub in Pune, India. This expansion helped them grow their digital expertise and meet the changing demands by providing sustainable solutions.
  • In February 2022, Chevron Corporation made an announcement that it has signed an agreement with Bunge North America, Inc. to create renewable feedstocks.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 51)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 LUBRICANTS MARKET: INCLUSIONS & EXCLUSIONS
           1.2.2 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS,  BY BASE OIL
           1.2.3 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS,  BY PRODUCT TYPE
           1.2.4 LUBRICANTS MARKET: MARKET DEFINITIONS AND INCLUSIONS,  BY END-USE INDUSTRY
    1.3 MARKET SCOPE 
          FIGURE 1 LUBRICANTS MARKET SEGMENTATION
           1.3.1 REGIONS COVERED
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY 
    1.6 UNITS CONSIDERED 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
           1.8.1 IMPACT OF RECESSION
 
2 RESEARCH METHODOLOGY (Page No. - 57)
    2.1 RESEARCH DATA 
          FIGURE 2 LUBRICANTS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interviews - demand and supply sides
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): COLLECTIVE REVENUE OF COMPANIES
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL PRODUCTS (BOTTOM-UP)
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE): PRODUCTS SOLD (BOTTOM UP)
    2.3 DATA TRIANGULATION 
          FIGURE 6 LUBRICANTS MARKET: DATA TRIANGULATION
    2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECASTS 
           2.4.1 SUPPLY SIDE
                    FIGURE 7 MARKET GROWTH PROJECTION FROM SUPPLY SIDE
           2.4.2 DEMAND SIDE
                    FIGURE 8 MARKET GROWTH PROJECTION FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES
    2.5 FACTOR ANALYSIS 
    2.6 IMPACT OF RECESSION 
    2.7 LIMITATIONS 
    2.8 RISK ASSESSMENT 
          TABLE 1 LUBRICANTS MARKET: RISK ASSESSMENT
 
3 EXECUTIVE SUMMARY (Page No. - 68)
    FIGURE 9 MINERAL OIL LUBRICANTS SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
    FIGURE 10 ENGINE OIL DOMINATED OVERALL LUBRICANTS MARKET IN 2023
    FIGURE 11 PASSENGER VEHICLE TO BE DOMINANT CONSUMER OF LUBRICANTS IN  TRANSPORTATION SEGMENT
    FIGURE 12 CONSTRUCTION TO BE LEADING END USER OF LUBRICANTS IN INDUSTRIAL SEGMENT
    FIGURE 13 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2023
 
4 PREMIUM INSIGHTS (Page No. - 72)
    4.1 ATTRACTIVE OPPORTUNITIES IN LUBRICANTS MARKET 
          FIGURE 14 LUBRICANTS MARKET TO WITNESS STEADY GROWTH DURING FORECAST PERIOD
    4.2 ASIA PACIFIC LUBRICANTS MARKET, BY BASE OIL AND COUNTRY 
          FIGURE 15 CHINA LED ASIA PACIFIC LUBRICANTS MARKET IN 2023
    4.3 LUBRICANTS MARKET, BY REGION 
          FIGURE 16 ASIA PACIFIC TO BE LARGEST MARKET FOR LUBRICANTS DURING  FORECAST PERIOD
    4.4 LUBRICANTS MARKET SIZE, BY END-USE INDUSTRY V/S  REGION, 2023 
          FIGURE 17 TRANSPORTATION ACCOUNTED FOR LARGER MARKET SHARE IN 2023
    4.5 LUBRICANTS MARKET ATTRACTIVENESS 
          FIGURE 18 CHINA PROJECTED TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 75)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 19 FACTORS GOVERNING LUBRICANTS MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Growing demand for high-performance engines and rising awareness about oil change
                    5.2.1.2 Increase in supply of Group II and Group III base oil
                    5.2.1.3 Emission and fuel efficiency norms fueling demand in emerging markets
                                TABLE 2 IMPLEMENTATION OF EMISSION STANDARDS FOR LIGHT-DUTY VEHICLES IN CHINA
                    5.2.1.4 Growing demand from mining, construction, agriculture, and marine industries
           5.2.2 RESTRAINTS
                    5.2.2.1 Shift toward synthetic lubricants reducing overall demand for lubricants
                    5.2.2.2 Rising demand for electric vehicles and reducing price of battery
                                FIGURE 20 GOVERNMENT TARGETS FOR ELECTRIC VEHICLES
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Leveraging e-commerce industry to increase customer reach
                    5.2.3.2 Increasing demand for renewable energy
                    5.2.3.3 Growth in demand for bio-based lubricants
           5.2.4 CHALLENGES
                    5.2.4.1 Stringent environmental norms and continuous reforms by governments
                    5.2.4.2 Volatile raw material prices
                                TABLE 3 CRUDE OIL PRICE TREND (2019−2022)
    5.3 PORTER'S FIVE FORCES ANALYSIS 
          FIGURE 21 LUBRICANTS MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 4 LUBRICANTS MARKET: PORTER'S FIVE FORCES ANALYSIS
    5.4 MACROECONOMIC INDICATORS 
           5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 5 GDP TRENDS AND FORECAST OF MAJOR ECONOMIES, 2020–2028 (USD BILLION)
 
6 INDUSTRY TRENDS (Page No. - 86)
    6.1 KEY STAKEHOLDERS AND BUYING CRITERIA 
           6.1.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 22 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES (TRANSPORTATION)
                    TABLE 6 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES (%) (TRANSPORTATION)
           6.1.2 BUYING CRITERIA
                    FIGURE 23 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES (TRANSPORTATION)
                    TABLE 7 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES (TRANSPORTATION)
    6.2 SUPPLY CHAIN ANALYSIS 
          FIGURE 24 LUBRICANTS MARKET: SUPPLY CHAIN ANALYSIS
           6.2.1 RAW MATERIALS SUPPLIER
           6.2.2 MANUFACTURER
           6.2.3 DISTRIBUTION NETWORK
           6.2.4 END-USE INDUSTRIES
    6.3 ECOSYSTEM ANALYSIS 
          FIGURE 25 LUBRICANTS MARKET: ECOSYSTEM ANALYSIS
          TABLE 8 LUBRICANTS MARKET: ROLE IN ECOSYSTEM
    6.4 CASE STUDY ANALYSIS 
           6.4.1 A CASE STUDY ON COMPRESSOR LUBRICANT
           6.4.2 A CASE STUDY ON SYNTHETIC LUBRICANT
           6.4.3 A CASE STUDY ON HYDRAULIC FLUIDS
           6.4.4 A CASE STUDY ON COMPRESSOR OIL
    6.5 REGULATORY LANDSCAPE 
          TABLE 9 NORTH AMERICA: REGULATIONS FOR LUBRICANTS
          TABLE 10 EUROPE: REGULATIONS FOR LUBRICANTS
          TABLE 11 ASIA PACIFIC: REGULATIONS FOR LUBRICANTS
          TABLE 12 MIDDLE EAST & AFRICA: REGULATIONS FOR LUBRICANTS
          TABLE 13 SOUTH AMERICA: REGULATIONS FOR LUBRICANTS
           6.5.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    6.6 TECHNOLOGY ANALYSIS 
           6.6.1 KEY TECHNOLOGIES
                    6.6.1.1 Re-refining technology
                    6.6.1.2 SO2 scrubbing system technology
           6.6.2 COMPLEMENTARY TECHNOLOGIES
                    6.6.2.1 Nanotechnology in lubricants
    6.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES 
           6.7.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN LUBRICANTS MARKET
                    FIGURE 26 LUBRICANTS MARKET: FUTURE REVENUE MIX
    6.8 TRADE DATA STATISTICS 
           6.8.1 IMPORT DATA
                    FIGURE 27 LUBRICANTS IMPORT, BY KEY COUNTRIES (2018–2022)
                    TABLE 14 IMPORT OF LUBRICANTS, BY REGION, 2018–2022 (USD BILLION)
           6.8.2 EXPORT DATA
                    FIGURE 28 LUBRICANTS EXPORT, BY KEY COUNTRIES (2018–2022)
                    TABLE 15 EXPORT OF LUBRICANTS, BY REGION, 2018–2022 (USD BILLION)
    6.9 KEY CONFERENCES & EVENTS 
          TABLE 16 LUBRICANTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS, 2024–2025
    6.10 PRICING ANALYSIS 
           6.10.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY BASE OIL
                     FIGURE 29 AVERAGE SELLING PRICE TREND OF KEY PLAYERS FOR TOP THREE BASE OIL
                     TABLE 17 AVERAGE SELLING PRICE TREND OF KEY PLAYERS FOR TOP THREE BASE OIL (USD/KG)
           6.10.2 AVERAGE SELLING PRICE TREND, BY REGION
                     FIGURE 30 AVERAGE SELLING PRICE TREND OF LUBRICANTS, BY REGION
                     TABLE 18 AVERAGE SELLING PRICE TREND OF LUBRICANTS, BY REGION, 2022–2029 (USD/KG)
    6.11 INVESTMENT AND FUNDING SCENARIO 
    6.12 PATENT ANALYSIS 
           6.12.1 APPROACH
           6.12.2 DOCUMENT TYPE
                     TABLE 19 PATENT STATUS: PATENT APPLICATIONS, LIMITED PATENTS, AND GRANTED PATENTS
                     FIGURE 31 PATENTS REGISTERED, 2012–2023
                     FIGURE 32 LIST OF MAJOR PATENTS FOR LUBRICANTS
                     TABLE 20 MAJOR PATENTS FOR LUBRICANTS
           6.12.3 TOP APPLICANTS
                     TABLE 21 PATENTS BY BASF SE
                     TABLE 22 PATENTS BY DOW INC.
                     TABLE 23 TOP 10 PATENT OWNERS IN US, 2012–2023
                     FIGURE 33 LEGAL STATUS OF PATENTS FILED IN LUBRICANTS MARKET
           6.12.4 JURISDICTION ANALYSIS
                     FIGURE 34 MAXIMUM PATENTS FILED IN JURISDICTION OF US
 
7 LUBRICANTS MARKET, BY BASE OIL (Page No. - 111)
    7.1 INTRODUCTION 
          TABLE 24 CATEGORY OF BASE OILS
          FIGURE 35 MINERAL OIL LUBRICANTS TO DOMINATE GLOBAL LUBRICANTS MARKET DURING FORECAST PERIOD
          TABLE 25 LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
          TABLE 26 LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
          TABLE 27 LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (KILOTON)
          TABLE 28 LUBRICANT MARKET, BY BASE OIL, 2023–2029 (KILOTON)
    7.2 MINERAL OIL LUBRICANTS 
           7.2.1 GROWING EMPHASIS ON PREMIUM GRADE TO DRIVE MARKET
                    TABLE 29 MINERAL OIL LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 30 MINERAL OIL LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 31 MINERAL OIL LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 32 MINERAL OIL LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
    7.3 SYNTHETIC LUBRICANTS 
           7.3.1 GROWTH IN GLOBAL ACCEPTANCE RATE TO DRIVE MARKET
                    FIGURE 36 FACTORS AFFECTING GLOBAL SYNTHETIC LUBRICANTS MARKET
                    TABLE 33 SYNTHETIC LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 34 SYNTHETIC LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 35 SYNTHETIC LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 36 SYNTHETIC LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           7.3.2 PAO
           7.3.3 PAG
           7.3.4 ESTERS
           7.3.5 GROUP III (HYDROCRACKING)
    7.4 BIO-BASED LUBRICANTS 
           7.4.1 HARMFUL EFFECTS OF CONVENTIONAL LUBRICANTS ON ENVIRONMENT TO DRIVE MARKET
                    TABLE 37 BIO-BASED LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 38 BIO-BASED LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 39 BIO-BASED LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 40 BIO-BASED LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
 
8 LUBRICANTS MARKET, BY END-USE INDUSTRY (Page No. - 122)
    8.1 INTRODUCTION 
          TABLE 41 LUBRICANTS MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
          TABLE 42 LUBRICANT MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
          TABLE 43 LUBRICANTS MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
          TABLE 44 LUBRICANT MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
    8.2 TRANSPORTATION 
          FIGURE 37 PASSENGER VEHICLE TO BE LARGEST END USER IN TRANSPORTATION INDUSTRY
           8.2.1 COMMERCIAL VEHICLE
                    8.2.1.1 Increasing demand for compressor oils to drive market
                                TABLE 45 COMMERCIAL VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 46 COMMERCIAL VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 47 COMMERCIAL VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 48 COMMERCIAL VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.2.2 PASSENGER VEHICLE
                    8.2.2.1 Economic development and rising spending power to drive market
                                TABLE 49 PASSENGER VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 50 PASSENGER VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 51 PASSENGER VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 52 PASSENGER VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
                                TABLE 53 PASSENGER VEHICLE: LUBRICANTS MARKET, BY VEHICLE TYPE, 2018–2022 (USD MILLION)
                                TABLE 54 PASSENGER VEHICLE: LUBRICANT MARKET, BY VEHICLE TYPE, 2023–2029 (USD MILLION)
                                TABLE 55 PASSENGER VEHICLE: LUBRICANTS MARKET, BY VEHICLE TYPE, 2018–2022 (KILOTON)
                                TABLE 56 PASSENGER VEHICLE: LUBRICANT MARKET, BY VEHICLE TYPE, 2023–2029 (KILOTON)
                    8.2.2.2 4-Wheeler
                                TABLE 57 4-WHEELER PASSENGER VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 58 4-WHEELER PASSENGER VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 59 4-WHEELER PASSENGER VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 60 4-WHEELER PASSENGER VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
                    8.2.2.3 2-Wheeler
                                TABLE 61 2-WHEELER PASSENGER VEHICLE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 62 2-WHEELER PASSENGER VEHICLE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 63 2-WHEELER PASSENGER VEHICLE: LUBRICANTS MARKET, BY REGION,  2018–2022 (KILOTON)
                                TABLE 64 2-WHEELER PASSENGER VEHICLE: LUBRICANT MARKET, BY REGION,  2023–2029 (KILOTON)
           8.2.3 AVIATION
                    8.2.3.1 Increasing living standards and decreasing airfare to drive market
                                TABLE 65 AVIATION: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 66 AVIATION: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 67 AVIATION: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 68 AVIATION: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.2.4 MARINE
                    8.2.4.1 Growth in overseas business to drive market
                                TABLE 69 MARINE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 70 MARINE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 71 MARINE: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 72 MARINE: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.2.5 RAILWAYS
                    8.2.5.1 Europe to be fastest-growing market in railways end-use segment
                                TABLE 73 RAILWAYS: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 74 RAILWAYS: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 75 RAILWAYS: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 76 RAILWAYS: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
    8.3 INDUSTRIAL 
          FIGURE 38 CONSTRUCTION TO BE LARGEST END USER IN INDUSTRIAL SECTOR DURING  FORECAST PERIOD
           8.3.1 CONSTRUCTION
                    8.3.1.1 Increased government investments in infrastructure projects to drive market
                                TABLE 77 CONSTRUCTION: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 78 CONSTRUCTION: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 79 CONSTRUCTION: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 80 CONSTRUCTION: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.2 METAL & MINING
                    8.3.2.1 Increasing consumption in steel production plants to drive market
                                TABLE 81 METAL & MINING: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 82 METAL & MINING: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 83 METAL & MINING: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 84 METAL & MINING: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.3 CEMENT PRODUCTION
                    8.3.3.1 Growing construction activities to drive market
                                TABLE 85 CEMENT PRODUCTION: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 86 CEMENT PRODUCTION: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 87 CEMENT PRODUCTION: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 88 CEMENT PRODUCTION: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.4 POWER GENERATION
                    8.3.4.1 Rising awareness about renewable sources for power generation to drive market
                                TABLE 89 POWER GENERATION: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 90 POWER GENERATION: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 91 POWER GENERATION: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 92 POWER GENERATION: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.5 AUTOMOTIVE MANUFACTURING
                    8.3.5.1 Growing demand for automobiles in developing countries to drive market
                                TABLE 93 AUTOMOTIVE MANUFACTURING: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 94 AUTOMOTIVE MANUFACTURING: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 95 AUTOMOTIVE MANUFACTURING: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 96 AUTOMOTIVE MANUFACTURING: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.6 CHEMICAL
                    8.3.6.1 Rising demand for fertilizers to drive market
                                TABLE 97 CHEMICAL: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 98 CHEMICAL: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 99 CHEMICAL: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 100 CHEMICAL: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.7 OIL & GAS
                    8.3.7.1 Need for long-term stability and smooth functioning of machinery to drive market
                                TABLE 101 OIL & GAS: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 102 OIL & GAS: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 103 OIL & GAS: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 104 OIL & GAS: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.8 TEXTILE
                    8.3.8.1 Revolutionizing textile production with advanced solutions to drive market
                                TABLE 105 TEXTILE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 106 TEXTILE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 107 TEXTILE: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 108 TEXTILE: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.9 FOOD PROCESSING
                    8.3.9.1 Growing awareness about safe food products to drive market
                                TABLE 109 FOOD PROCESSING: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                                TABLE 110 FOOD PROCESSING: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                                TABLE 111 FOOD PROCESSING: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                                TABLE 112 FOOD PROCESSING: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           8.3.10 OTHERS
                    TABLE 113 OTHERS: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 114 OTHERS: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 115 OTHERS: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 116 OTHERS: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
 
9 LUBRICANTS MARKET, BY PRODUCT TYPE (Page No. - 158)
    9.1 INTRODUCTION 
          FIGURE 39 ENGINE OIL TO DOMINATE MARKET DURING FORECAST PERIOD
          TABLE 117 LUBRICANTS MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
          TABLE 118 LUBRICANT MARKET, BY PRODUCT TYPE, 2023–2029 (USD MILLION)
          TABLE 119 LUBRICANTS MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
          TABLE 120 LUBRICANT MARKET, BY PRODUCT TYPE, 2023–2029 (KILOTON)
    9.2 ENGINE OIL 
           9.2.1 INCREASING DEMAND FOR PREMIUM PRODUCTS WITH LOW SULFUR CONTENT TO DRIVE MARKET
                    TABLE 121 ENGINE OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 122 ENGINE OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 123 ENGINE OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 124 ENGINE OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
    9.3 HYDRAULIC OIL 
           9.3.1 GROWING CONSTRUCTION SECTOR TO DRIVE DEMAND
                    TABLE 125 HYDRAULIC OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 126 HYDRAULIC OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 127 HYDRAULIC OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 128 HYDRAULIC OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           9.3.2 HL HYDRAULIC FLUID
           9.3.3 HLP HYDRAULIC FLUID
           9.3.4 HLP-D HYDRAULIC FLUID
           9.3.5 FIRE-RESISTANT HYDRAULIC FLUID
    9.4 METALWORKING FLUID 
           9.4.1 GROWING STEEL INDUSTRY TO SUPPORT MARKET GROWTH
                    TABLE 129 METALWORKING FLUID: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 130 METALWORKING FLUID: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 131 METALWORKING FLUID: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 132 METALWORKING FLUID: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           9.4.2 REMOVAL METALWORKING FLUID
           9.4.3 PROTECTING METALWORKING FLUID
           9.4.4 FORMING METALWORKING FLUID
           9.4.5 TREATING METALWORKING FLUID
    9.5 GEAR OIL 
           9.5.1 TECHNOLOGICAL ADVANCEMENTS IN MECHATRONICS TO DRIVE MARKET
                    TABLE 133 GEAR OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 134 GEAR OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 135 GEAR OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 136 GEAR OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           9.5.2 RUST & CORROSION INHIBITED GEAR OIL
           9.5.3 COMPOUNDED GEAR OIL
           9.5.4 EXTREME PRESSURE GEAR OIL
    9.6 COMPRESSOR OIL 
           9.6.1 INCREASING DEMAND FOR REFRIGERATION AND AIR-CONDITIONING SYSTEMS TO DRIVE MARKET
                    TABLE 137 COMPRESSOR OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 138 COMPRESSOR OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 139 COMPRESSOR OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 140 COMPRESSOR OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
    9.7 GREASE 
           9.7.1 GROWING MINING, CONSTRUCTION, AND TRANSPORT INDUSTRIES TO DRIVE MARKET
                    TABLE 141 GREASE: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 142 GREASE: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 143 GREASE: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 144 GREASE: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
           9.7.2 METALLIC SOAP THICKENER
                    9.7.2.1 Lithium
                    9.7.2.2 Calcium
                    9.7.2.3 Aluminum
                    9.7.2.4 Sodium
                    9.7.2.5 Other metallic soaps
           9.7.3 NON-SOAP THICKENER
           9.7.4 INORGANIC THICKENER
                    9.7.4.1 Clay
                    9.7.4.2 Silica
           9.7.5 OTHER THICKENERS
    9.8 TURBINE OIL 
           9.8.1 GROWING POWER GENERATION SECTOR TO FUEL DEMAND
                    TABLE 145 TURBINE OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 146 TURBINE OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 147 TURBINE OIL: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 148 TURBINE OIL: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
    9.9 OTHER PRODUCT TYPES 
           9.9.1 TRANSFORMER OIL
           9.9.2 REFRIGERATION OIL
           9.9.3 TEXTILE MACHINERY LUBRICANTS
                    TABLE 149 OTHER PRODUCT TYPES: LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 150 OTHER PRODUCT TYPES: LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
                    TABLE 151 OTHER PRODUCT TYPES: LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 152 OTHER PRODUCT TYPES: LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
 
10 LUBRICANTS MARKET, BY REGION (Page No. - 179)
     10.1 INTRODUCTION 
             FIGURE 40 ASIA PACIFIC TO BE LARGEST MARKET FOR LUBRICANTS DURING  FORECAST PERIOD
             TABLE 153 LUBRICANTS MARKET, BY REGION, 2018–2022 (USD MILLION)
             TABLE 154 LUBRICANT MARKET, BY REGION, 2023–2029 (USD MILLION)
             TABLE 155 LUBRICANTS MARKET, BY REGION, 2018–2022 (KILOTON)
             TABLE 156 LUBRICANT MARKET, BY REGION, 2023–2029 (KILOTON)
     10.2 ASIA PACIFIC 
             FIGURE 41 ASIA PACIFIC: LUBRICANTS MARKET SNAPSHOT
             10.2.1 RECESSION IMPACT
             10.2.2 ASIA PACIFIC LUBRICANTS MARKET, BY BASE OIL
                        TABLE 157 ASIA PACIFIC: MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                        TABLE 158 ASIA PACIFIC: MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                        TABLE 159 ASIA PACIFIC: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                        TABLE 160 ASIA PACIFIC: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
             10.2.3 ASIA PACIFIC LUBRICANT MARKET, BY PRODUCT TYPE
                        TABLE 161 ASIA PACIFIC: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                        TABLE 162 ASIA PACIFIC: MARKET, BY PRODUCT TYPE, 2023–2029 (USD MILLION)
                        TABLE 163 ASIA PACIFIC: MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
                        TABLE 164 ASIA PACIFIC: MARKET, BY PRODUCT TYPE, 2023–2029 (KILOTON)
             10.2.4 ASIA PACIFIC LUBRICANTS MARKET, BY END-USE INDUSTRY
                        TABLE 165 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 166 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY,  2023–2029 (USD MILLION)
                        TABLE 167 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                        TABLE 168 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        TABLE 169 ASIA PACIFIC: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE, 2018–2022 (USD MILLION)
                        TABLE 170 ASIA PACIFIC: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (USD MILLION)
                        TABLE 171 ASIA PACIFIC: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE, 2018–2022 (KILOTON)
                        TABLE 172 ASIA PACIFIC: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (KILOTON)
             10.2.5 ASIA PACIFIC LUBRICANT MARKET, BY COUNTRY
                        TABLE 173 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 174 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2029 (USD MILLION)
                        TABLE 175 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 176 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2029 (KILOTON)
                        10.2.5.1 China
                                     10.2.5.1.1 Increasing population and rapid industrialization to drive market
                                                     TABLE 177 CHINA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 178 CHINA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 179 CHINA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 180 CHINA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 181 CHINA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 182 CHINA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 183 CHINA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 184 CHINA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.2.5.2 Japan
                                     10.2.5.2.1 Government’s fiscal support and technology development to drive market
                                                     TABLE 185 JAPAN: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 186 JAPAN: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 187 JAPAN: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 188 JAPAN: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 189 JAPAN: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 190 JAPAN: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 191 JAPAN: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 192 JAPAN: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.2.5.3 India
                                     10.2.5.3.1 Rapid urbanization and population growth to drive market
                                                     TABLE 193 INDIA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 194 INDIA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 195 INDIA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 196 INDIA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 197 INDIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 198 INDIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 199 INDIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 200 INDIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.2.5.4 South Korea
                                     10.2.5.4.1 Increasing demand from transportation applications to drive synthetic lubricants market
                                                     TABLE 201 SOUTH KOREA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 202 SOUTH KOREA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 203 SOUTH KOREA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 204 SOUTH KOREA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 205 SOUTH KOREA: MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                     TABLE 206 SOUTH KOREA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 207 SOUTH KOREA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 208 SOUTH KOREA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.2.5.5 Indonesia
                                     10.2.5.5.1 Rising oil production to drive market
                                                     TABLE 209 INDONESIA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 210 INDONESIA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 211 INDONESIA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 212 INDONESIA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 213 INDONESIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 214 INDONESIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 215 INDONESIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 216 INDONESIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.2.5.6 Thailand
                                     10.2.5.6.1 Increasing production of automotive parts to drive market
                                                     TABLE 217 THAILAND: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 218 THAILAND: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 219 THAILAND: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 220 THAILAND: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 221 THAILAND: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 222 THAILAND: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 223 THAILAND: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 224 THAILAND: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.2.5.7 Australia & New Zealand
                                     10.2.5.7.1 Growing mining industry to drive market
                                                     TABLE 225 AUSTRALIA & NEW ZEALAND: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 226 AUSTRALIA & NEW ZEALAND: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 227 AUSTRALIA & NEW ZEALAND: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 228 AUSTRALIA & NEW ZEALAND: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 229 AUSTRALIA & NEW ZEALAND: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 230 AUSTRALIA & NEW ZEALAND: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 231 AUSTRALIA & NEW ZEALAND: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 232 AUSTRALIA & NEW ZEALAND: MARKET, BY END-USE INDUSTRY,  2023–2029 (KILOTON)
     10.3 EUROPE 
             FIGURE 42 EUROPE: LUBRICANTS MARKET SNAPSHOT
             10.3.1 RECESSION IMPACT
             10.3.2 EUROPE LUBRICANTS MARKET, BY BASE OIL
                        TABLE 233 EUROPE: MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                        TABLE 234 EUROPE: MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                        TABLE 235 EUROPE: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                        TABLE 236 EUROPE: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
             10.3.3 EUROPE LUBRICANT MARKET, BY PRODUCT TYPE
                        TABLE 237 EUROPE: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                        TABLE 238 EUROPE: MARKET, BY PRODUCT TYPE, 2023–2029 (USD MILLION)
                        TABLE 239 EUROPE: MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
                        TABLE 240 EUROPE: MARKET, BY PRODUCT TYPE, 2023–2029 (KILOTON)
             10.3.4 EUROPE LUBRICANTS MARKET, BY END-USE INDUSTRY
                        TABLE 241 EUROPE: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 242 EUROPE: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                        TABLE 243 EUROPE: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                        TABLE 244 EUROPE: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        TABLE 245 EUROPE: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2018–2022 (USD MILLION)
                        TABLE 246 EUROPE: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (USD MILLION)
                        TABLE 247 EUROPE: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2018–2022 (KILOTON)
                        TABLE 248 EUROPE: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (KILOTON)
             10.3.5 EUROPE LUBRICANT MARKET, BY COUNTRY
                        TABLE 249 EUROPE: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 250 EUROPE: MARKET, BY COUNTRY, 2023–2029 (USD MILLION)
                        TABLE 251 EUROPE: MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 252 EUROPE: MARKET, BY COUNTRY, 2023–2029 (KILOTON)
                        10.3.5.1 Germany
                                     10.3.5.1.1 Growing industrial activities to drive market
                                                     TABLE 253 GERMANY: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 254 GERMANY: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 255 GERMANY: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 256 GERMANY: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 257 GERMANY: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 258 GERMANY: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 259 GERMANY: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 260 GERMANY: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.3.5.2 Russia
                                     10.3.5.2.1 Growing middle-class population and low fuel prices to drive market
                                                     TABLE 261 RUSSIA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 262 RUSSIA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 263 RUSSIA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 264 RUSSIA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 265 RUSSIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 266 RUSSIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 267 RUSSIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 268 RUSSIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.3.5.3 Italy
                                     10.3.5.3.1 Growth in manufacturing industry to drive market
                                                     TABLE 269 ITALY: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 270 ITALY: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 271 ITALY: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 272 ITALY: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 273 ITALY: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 274 ITALY: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 275 ITALY: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 276 ITALY: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.3.5.4 France
                                     10.3.5.4.1 Rising spending power to drive market
                                                     TABLE 277 FRANCE: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 278 FRANCE: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 279 FRANCE: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 280 FRANCE: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 281 FRANCE: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 282 FRANCE: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 283 FRANCE: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 284 FRANCE: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.3.5.5 Spain
                                     10.3.5.5.1 Automotive sector to drive market growth
                                                     TABLE 285 SPAIN: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 286 SPAIN: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 287 SPAIN: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 288 SPAIN: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 289 SPAIN: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 290 SPAIN: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 291 SPAIN: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 292 SPAIN: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.3.5.6 UK
                                     10.3.5.6.1 Increasing R&D activities to drive market
                                                     TABLE 293 UK: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 294 UK: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 295 UK: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 296 UK: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 297 UK: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 298 UK: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 299 UK: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 300 UK: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.3.5.7 Turkey
                                     10.3.5.7.1 Increasing automotive sales to drive market
                                                     TABLE 301 TURKEY: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 302 TURKEY: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 303 TURKEY: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 304 TURKEY: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 305 TURKEY: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 306 TURKEY: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 307 TURKEY: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 308 TURKEY: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
     10.4 NORTH AMERICA 
             FIGURE 43 NORTH AMERICA: LUBRICANTS MARKET SNAPSHOT
             10.4.1 RECESSION IMPACT
             10.4.2 NORTH AMERICA LUBRICANTS MARKET, BY BASE OIL
                        TABLE 309 NORTH AMERICA: MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                        TABLE 310 NORTH AMERICA: MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                        TABLE 311 NORTH AMERICA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                        TABLE 312 NORTH AMERICA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
             10.4.3 NORTH AMERICA LUBRICANT MARKET, BY PRODUCT TYPE
                        TABLE 313 NORTH AMERICA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                        TABLE 314 NORTH AMERICA: MARKET, BY PRODUCT TYPE, 2023–2029 (USD MILLION)
                        TABLE 315 NORTH AMERICA: MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
                        TABLE 316 NORTH AMERICA: MARKET, BY PRODUCT TYPE, 2023–2029 (KILOTON)
             10.4.4 NORTH AMERICA LUBRICANTS MARKET, BY END-USE INDUSTRY
                        TABLE 317 NORTH AMERICA: MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 318 NORTH AMERICA: MARKET, BY END-USE INDUSTRY,  2023–2029 (USD MILLION)
                        TABLE 319 NORTH AMERICA: MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 320 NORTH AMERICA: MARKET, BY END-USE INDUSTRY,  2023–2029 (KILOTON)
                        TABLE 321 NORTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2018–2022 (USD MILLION)
                        TABLE 322 NORTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (USD MILLION)
                        TABLE 323 NORTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2018–2022 (KILOTON)
                        TABLE 324 NORTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (KILOTON)
             10.4.5 NORTH AMERICA LUBRICANT MARKET, BY COUNTRY
                        TABLE 325 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 326 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2029 (USD MILLION)
                        TABLE 327 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 328 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2029 (KILOTON)
                        10.4.5.1 US
                                     10.4.5.1.1 Strong industrial infrastructure and increasing environmental awareness to drive market
                                                     TABLE 329 US: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 330 US: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 331 US: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 332 US: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 333 US: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 334 US: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 335 US: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 336 US: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.4.5.2 Canada
                                     10.4.5.2.1 Growing automotive industry to drive market
                                                     TABLE 337 CANADA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 338 CANADA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 339 CANADA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 340 CANADA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 341 CANADA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 342 CANADA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 343 CANADA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 344 CANADA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.4.5.3 Mexico
                                     10.4.5.3.1 Growing power generation and manufacturing sectors to drive market
                                                     TABLE 345 MEXICO: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 346 MEXICO: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 347 MEXICO: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 348 MEXICO: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 349 MEXICO: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 350 MEXICO: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 351 MEXICO: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 352 MEXICO: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
     10.5 MIDDLE EAST & AFRICA 
             10.5.1 RECESSION IMPACT
             10.5.2 MIDDLE EAST & AFRICA LUBRICANTS MARKET, BY BASE OIL
                        TABLE 353 MIDDLE EAST & AFRICA: MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                        TABLE 354 MIDDLE EAST & AFRICA: MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                        TABLE 355 MIDDLE EAST & AFRICA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                        TABLE 356 MIDDLE EAST & AFRICA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
             10.5.3 MIDDLE EAST & AFRICA LUBRICANT MARKET, BY PRODUCT TYPE
                        TABLE 357 MIDDLE EAST & AFRICA: MARKET, BY PRODUCT TYPE,  2018–2022 (USD MILLION)
                        TABLE 358 MIDDLE EAST & AFRICA: MARKET, BY PRODUCT TYPE,  2023–2029 (USD MILLION)
                        TABLE 359 MIDDLE EAST & AFRICA: MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
                        TABLE 360 MIDDLE EAST & AFRICA: MARKET, BY PRODUCT TYPE, 2023–2029 (KILOTON)
             10.5.4 MIDDLE EAST & AFRICA LUBRICANTS MARKET, BY END-USE INDUSTRY
                        TABLE 361 MIDDLE EAST & AFRICA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 362 MIDDLE EAST & AFRICA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                        TABLE 363 MIDDLE EAST & AFRICA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                        TABLE 364 MIDDLE EAST & AFRICA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        TABLE 365 MIDDLE EAST & AFRICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE, 2018–2022 (USD MILLION)
                        TABLE 366 MIDDLE EAST & AFRICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE, 2023–2029 (USD MILLION)
                        TABLE 367 MIDDLE EAST & AFRICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE, 2018–2022 (KILOTON)
                        TABLE 368 MIDDLE EAST & AFRICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE, 2023–2029 (KILOTON)
             10.5.5 MIDDLE EAST & AFRICA LUBRICANT MARKET, BY COUNTRY
                        TABLE 369 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 370 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2023–2029 (USD MILLION)
                        TABLE 371 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2018–2022 (KILOTON)
                        TABLE 372 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2023–2029 (KILOTON)
                        10.5.5.1 GCC
                                     10.5.5.1.1 Saudi Arabia
                                                    10.5.5.1.1.1 Growing oil & gas sector to drive market
                                                                       TABLE 373 SAUDI ARABIA: SYNTHETIC LUBRICANTS MARKET, BY BASE OIL,  2018–2022 (USD MILLION)
                                                                       TABLE 374 SAUDI ARABIA: SYNTHETIC LUBRICANT MARKET, BY BASE OIL,  2023–2029 (USD MILLION)
                                                                       TABLE 375 SAUDI ARABIA: SYNTHETIC MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                                       TABLE 376 SAUDI ARABIA: SYNTHETIC MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                                       TABLE 377 SAUDI ARABIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                                       TABLE 378 SAUDI ARABIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                                       TABLE 379 SAUDI ARABIA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                                       TABLE 380 SAUDI ARABIA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.5.5.2 Iran
                                     10.5.5.2.1 Rapid increase in industrial sectors to drive market
                                                     TABLE 381 IRAN: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 382 IRAN: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 383 IRAN: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 384 IRAN: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 385 IRAN: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 386 IRAN: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 387 IRAN: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 388 IRAN: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.5.5.3 South Africa
                                     10.5.5.3.1 Rapid growth in automotive, industrial, and consumer goods to drive market
                                                     TABLE 389 SOUTH AFRICA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 390 SOUTH AFRICA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 391 SOUTH AFRICA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 392 SOUTH AFRICA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 393 SOUTH AFRICA: MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                     TABLE 394 SOUTH AFRICA: MARKET, BY END-USE INDUSTRY,  2023–2029 (USD MILLION)
                                                     TABLE 395 SOUTH AFRICA: MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                                                     TABLE 396 SOUTH AFRICA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
     10.6 SOUTH AMERICA 
             10.6.1 RECESSION IMPACT
             10.6.2 SOUTH AMERICA LUBRICANTS MARKET, BY BASE OIL
                        TABLE 397 SOUTH AMERICA: MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                        TABLE 398 SOUTH AMERICA: MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                        TABLE 399 SOUTH AMERICA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                        TABLE 400 SOUTH AMERICA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
             10.6.3 SOUTH AMERICA LUBRICANT MARKET, BY PRODUCT TYPE
                        TABLE 401 SOUTH AMERICA: MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
                        TABLE 402 SOUTH AMERICA: MARKET, BY PRODUCT TYPE, 2023–2029 (USD MILLION)
                        TABLE 403 SOUTH AMERICA: MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
                        TABLE 404 SOUTH AMERICA: MARKET, BY PRODUCT TYPE, 2023–2029 (KILOTON)
             10.6.4 SOUTH AMERICA LUBRICANTS MARKET, BY END-USE INDUSTRY
                        TABLE 405 SOUTH AMERICA: MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 406 SOUTH AMERICA: MARKET, BY END-USE INDUSTRY,  2023–2029 (USD MILLION)
                        TABLE 407 SOUTH AMERICA: MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 408 SOUTH AMERICA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        TABLE 409 SOUTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2018–2022 (USD MILLION)
                        TABLE 410 SOUTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (USD MILLION)
                        TABLE 411 SOUTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2018–2022 (KILOTON)
                        TABLE 412 SOUTH AMERICA: MARKET IN PASSENGER VEHICLE, BY VEHICLE TYPE,  2023–2029 (KILOTON)
             10.6.5 SOUTH AMERICA LUBRICANT MARKET, BY COUNTRY
                        TABLE 413 SOUTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 414 SOUTH AMERICA: MARKET, BY COUNTRY, 2023–2029 (USD MILLION)
                        TABLE 415 SOUTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 416 SOUTH AMERICA: MARKET, BY COUNTRY, 2023–2029 (KILOTON)
                        10.6.5.1 Brazil
                                     10.6.5.1.1 Significant investments in manufacturing industry to drive market
                                                     TABLE 417 BRAZIL: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 418 BRAZIL: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 419 BRAZIL: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 420 BRAZIL: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 421 BRAZIL: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 422 BRAZIL: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 423 BRAZIL: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 424 BRAZIL: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
                        10.6.5.2 Argentina
                                     10.6.5.2.1 Developing mining industry to drive market
                                                     TABLE 425 ARGENTINA: LUBRICANTS MARKET, BY BASE OIL, 2018–2022 (USD MILLION)
                                                     TABLE 426 ARGENTINA: LUBRICANT MARKET, BY BASE OIL, 2023–2029 (USD MILLION)
                                                     TABLE 427 ARGENTINA: MARKET, BY BASE OIL, 2018–2022 (KILOTON)
                                                     TABLE 428 ARGENTINA: MARKET, BY BASE OIL, 2023–2029 (KILOTON)
                                                     TABLE 429 ARGENTINA: MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                     TABLE 430 ARGENTINA: MARKET, BY END-USE INDUSTRY, 2023–2029 (USD MILLION)
                                                     TABLE 431 ARGENTINA: MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                     TABLE 432 ARGENTINA: MARKET, BY END-USE INDUSTRY, 2023–2029 (KILOTON)
 
11 COMPETITIVE LANDSCAPE (Page No. - 307)
     11.1 INTRODUCTION 
     11.2 KEY PLAYERS' STRATEGIES 
             TABLE 433 OVERVIEW OF STRATEGIES ADOPTED BY KEY LUBRICANT MANUFACTURERS
     11.3 MARKET SHARE ANALYSIS 
             TABLE 434 LUBRICANTS MARKET: DEGREE OF COMPETITION
             FIGURE 44 SHELL PLC LED LUBRICANT MARKET IN 2023
             11.3.1 RANKING OF KEY MARKET PLAYERS
                        FIGURE 45 RANKING OF MAJOR PLAYERS IN LUBRICANTS MARKET, 2023
     11.4 REVENUE ANALYSIS OF MAJOR PLAYERS 
             FIGURE 46 REVENUE ANALYSIS OF KEY COMPANIES (2019−2023)
     11.5 COMPANY EVALUATION MATRIX: LUBRICANTS MARKET, 2023 
             11.5.1 STARS
             11.5.2 EMERGING LEADERS
             11.5.3 PERVASIVE PLAYERS
             11.5.4 PARTICIPANTS
                        FIGURE 47 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
             11.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
                        11.5.5.1 Company footprint
                                      FIGURE 48 LUBRICANTS MARKET: COMPANY FOOTPRINT
                        11.5.5.2 Region footprint
                                      TABLE 435 LUBRICANT MARKET: REGION FOOTPRINT
                        11.5.5.3 Base oil footprint
                                      TABLE 436 LUBRICANTS MARKET: BASE OIL FOOTPRINT
                        11.5.5.4 Product type footprint
                                      TABLE 437 LUBRICANT MARKET: PRODUCT TYPE FOOTPRINT
                        11.5.5.5 End-use industry footprint
                                      TABLE 438 LUBRICANTS MARKET: END-USE INDUSTRY FOOTPRINT
     11.6 START-UPS/SMES EVALUATION MATRIX: LUBRICANTS MARKET, 2023 
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 RESPONSIVE COMPANIES
             11.6.3 DYNAMIC COMPANIES
             11.6.4 STARTING BLOCKS
                        FIGURE 49 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
             11.6.5 COMPETITIVE BENCHMARKING
                        11.6.5.1 Detailed list of key start-ups/SMEs
                        11.6.5.2 Competitive benchmarking of key start-ups/SMEs
     11.7 COMPANY EVALUATION AND FINANCIAL METRICS 
             FIGURE 50 COMPANY VALUATION AND FINANCIAL METRICS OF KEY PLAYERS
             FIGURE 51 EV/EBITDA OF KEY PLAYERS
     11.8 BRAND/PRODUCT COMPARISON 
     11.9 COMPETITIVE SITUATION & TRENDS 
             11.9.1 PRODUCT LAUNCHES
                        TABLE 439 LUBRICANTS MARKET: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
             11.9.2 DEALS
                        TABLE 440 LUBRICANT MARKET: DEALS (JANUARY 2019–FEBRUARY 2024)
             11.9.3 EXPANSIONS
                        TABLE 441 LUBRICANTS MARKET: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             11.9.4 OTHER DEVELOPMENTS
                        TABLE 442 LUBRICANT MARKET: OTHER DEVELOPMENTS (JANUARY 2019–FEBRUARY 2024)
 
12 COMPANY PROFILES (Page No. - 332)
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
     12.1 MAJOR PLAYERS 
             12.1.1 EXXON MOBIL CORPORATION
                        TABLE 443 EXXON MOBIL CORPORATION: COMPANY OVERVIEW
                        FIGURE 52 EXXON MOBIL CORPORATION: COMPANY SNAPSHOT
                        TABLE 444 EXXON MOBIL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 445 EXXON MOBIL CORPORATION: PRODUCT LAUNCHES (JANUARY 2019−FEBRUARY 2024)
                        TABLE 446 EXXON MOBIL CORPORATION: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             12.1.2 TOTALENERGIES SE
                        TABLE 447 TOTALENERGIES SE: COMPANY OVERVIEW
                        FIGURE 53 TOTALENERGIES SE: COMPANY SNAPSHOT
                        TABLE 448 TOTALENERGIES SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 449 TOTALENERGIES SE: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
                        TABLE 450 TOTALENERGIES SE: DEALS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 451 TOTALENERGIES SE: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             12.1.3 SHELL PLC
                        TABLE 452 SHELL PLC: COMPANY OVERVIEW
                        FIGURE 54 SHELL PLC: COMPANY SNAPSHOT
                        TABLE 453 SHELL PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 454 SHELL PLC: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
                        TABLE 455 SHELL PLC: DEALS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 456 SHELL PLC: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 457 SHELL PLC: OTHER DEVELOPMENTS (JANUARY 2019–FEBRUARY 2024)
             12.1.4 CHEVRON CORPORATION
                        TABLE 458 CHEVRON CORPORATION: COMPANY OVERVIEW
                        FIGURE 55 CHEVRON CORPORATION: COMPANY SNAPSHOT
                        TABLE 459 CHEVRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 460 CHEVRON CORPORATION: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
                        TABLE 461 CHEVRON CORPORATION: DEALS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 462 CHEVRON CORPORATION: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             12.1.5 BP P.L.C.
                        TABLE 463 BP P.L.C.: COMPANY OVERVIEW
                        FIGURE 56 BP P.L.C.: COMPANY SNAPSHOT
                        TABLE 464 BP P.L.C.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 465 BP P.L.C.: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             12.1.6 PETROCHINA COMPANY LIMITED
                        TABLE 466 PETROCHINA COMPANY LIMITED: COMPANY OVERVIEW
                        FIGURE 57 PETROCHINA COMPANY LIMITED: COMPANY SNAPSHOT
                        TABLE 467 PETROCHINA COMPANY LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 468 PETROCHINA COMPANY LIMITED: DEALS (JANUARY 2019–FEBRUARY 2024)
             12.1.7 CHINA PETROLEUM & CHEMICAL CORPORATION
                        TABLE 469 CHINA PETROLEUM & CHEMICAL CORPORATION: COMPANY OVERVIEW
                        FIGURE 58 CHINA PETROLEUM & CHEMICAL CORPORATION: COMPANY SNAPSHOT
                        TABLE 470 CHINA PETROLEUM & CHEMICAL CORPORATION: PRODUCTS/SOLUTIONS/ SERVICES OFFERED
                        TABLE 471 CHINA PETROLEUM & CHEMICAL CORPORATION: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
                        TABLE 472 CHINA PETROLEUM & CHEMICAL CORPORATION: DEALS (JANUARY 2019– FEBRUARY 2024)
                        TABLE 473 CHINA PETROLEUM & CHEMICAL CORPORATION: EXPANSIONS  (JANUARY 2019–FEBRUARY 2024)
             12.1.8 ENEOS HOLDINGS, INC.
                        TABLE 474 ENEOS HOLDINGS, INC.: COMPANY OVERVIEW
                        FIGURE 59 ENEOS HOLDINGS, INC.: COMPANY SNAPSHOT
                        TABLE 475 ENEOS HOLDINGS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 476 ENEOS HOLDINGS, INC.: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
                        TABLE 477 ENEOS HOLDINGS, INC.: DEALS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 478 ENEOS HOLDINGS, INC.: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             12.1.9 IDEMITSU KOSAN CO., LTD.
                        TABLE 479 IDEMITSU KOSAN CO., LTD.: COMPANY OVERVIEW
                        FIGURE 60 IDEMITSU KOSAN CO., LTD.: COMPANY SNAPSHOT
                        TABLE 480 IDEMITSU KOSAN CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 481 IDEMITSU KOSAN CO., LTD.: PRODUCT LAUNCHES (JANUARY 2019–FEBRUARY 2024)
                        TABLE 482 IDEMITSU KOSAN CO., LTD.: DEALS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 483 IDEMITSU KOSAN CO., LTD.: EXPANSIONS (JANUARY 2019–FEBRUARY 2024)
             12.1.10 PETROLIAM NASIONAL BERHAD (PETRONAS)
                        TABLE 484 PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY OVERVIEW
                        FIGURE 61 PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY SNAPSHOT
                        TABLE 485 PETROLIAM NASIONAL BERHAD (PETRONAS): PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 486 PETROLIAM NASIONAL BERHAD (PETRONAS): DEALS (JANUARY 2019–FEBRUARY 2024)
                        TABLE 487 PETROLIAM NASIONAL BERHAD (PETRONAS): EXPANSIONS (JANUARY 2019– FEBRUARY 2024)
     12.2 START-UP/SMES PLAYERS 
             12.2.1 FUCHS SE
                        TABLE 488 FUCHS SE: COMPANY OVERVIEW
             12.2.2 ENOC COMPANY
                        TABLE 489 ENOC COMPANY: COMPANY OVERVIEW
             12.2.3 PETROLEO BRASILEIRO S.A. (PETROBRAS)
                        TABLE 490 PETROLEO BRASILEIRO S.A. (PETROBRAS): COMPANY OVERVIEW
             12.2.4 PJSC LUKOIL
                        TABLE 491 PJSC LUKOIL: COMPANY OVERVIEW
             12.2.5 PT PERTAMINA (PERSERO)
                        TABLE 492 PT PERTAMINA (PERSERO): COMPANY OVERVIEW
             12.2.6 ENI S.P.A.
                        TABLE 493 ENI S.P.A.: COMPANY OVERVIEW
             12.2.7 PJSC ROSNEFT OIL COMPANY
                        TABLE 494 PJSC ROSNEFT OIL COMPANY: COMPANY OVERVIEW
             12.2.8 GAZPROMNEFT-SM LLC
                        TABLE 495 GAZPROMNEFT-SM LLC: COMPANY OVERVIEW
             12.2.9 GULF OIL INTERNATIONAL LTD.
                        TABLE 496 GULF OIL INTERNATIONAL LTD.: COMPANY OVERVIEW
             12.2.10 PHILLIPS 66
                        TABLE 497 PHILLIPS 66: COMPANY OVERVIEW
             12.2.11 INDIAN OIL CORPORATION LIMITED
                        TABLE 498 INDIAN OIL CORPORATION LIMITED: COMPANY OVERVIEW
             12.2.12 COSMO OIL LUBRICANTS CO., LTD.
                        TABLE 499 COSMO OIL LUBRICANTS CO., LTD.: COMPANY OVERVIEW
             12.2.13 KLUBER LUBRICATION
                        TABLE 500 KLUBER LUBRICATION: COMPANY OVERVIEW
             12.2.14 HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL)
                        TABLE 501 HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL): COMPANY OVERVIEW
             12.2.15 MOTUL S.A.
                        TABLE 502 MOTUL S.A.: COMPANY OVERVIEW
 
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
 
13 ADJACENT & RELATED MARKETS (Page No. - 398)
     13.1 INTRODUCTION 
     13.2 LIMITATION 
     13.3 SYNTHETIC LUBRICANTS MARKET 
             13.3.1 MARKET DEFINITION
             13.3.2 MARKET OVERVIEW
     13.4 SYNTHETIC LUBRICANTS MARKET, BY REGION 
             TABLE 503 SYNTHETIC LUBRICANT MARKET, BY REGION, 2017–2021 (USD MILLION)
             TABLE 504 SYNTHETIC LUBRICANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
             TABLE 505 SYNTHETIC LUBRICANT MARKET, BY REGION, 2017–2021 (KILOTON)
             TABLE 506 SYNTHETIC LUBRICANTS MARKET, BY REGION, 2022–2028 (KILOTON)
             13.4.1 EUROPE
                        TABLE 507 EUROPE: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (USD MILLION)
                        TABLE 508 EUROPE: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (USD MILLION)
                        TABLE 509 EUROPE: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (KILOTON)
                        TABLE 510 EUROPE: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (KILOTON)
             13.4.2 NORTH AMERICA
                        TABLE 511 NORTH AMERICA: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (USD MILLION)
                        TABLE 512 NORTH AMERICA: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (USD MILLION)
                        TABLE 513 NORTH AMERICA: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (KILOTON)
                        TABLE 514 NORTH AMERICA: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (KILOTON)
             13.4.3 ASIA PACIFIC
                        TABLE 515 ASIA PACIFIC: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (USD MILLION)
                        TABLE 516 ASIA PACIFIC: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (USD MILLION)
                        TABLE 517 ASIA PACIFIC: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (KILOTON)
                        TABLE 518 ASIA PACIFIC: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (KILOTON)
             13.4.4 MIDDLE EAST & AFRICA
                        TABLE 519 MIDDLE EAST & AFRICA: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (USD MILLION)
                        TABLE 520 MIDDLE EAST & AFRICA: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (USD MILLION)
                        TABLE 521 MIDDLE EAST & AFRICA: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (KILOTON)
                        TABLE 522 MIDDLE EAST & AFRICA: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (KILOTON)
             13.4.5 SOUTH AMERICA
                        TABLE 523 SOUTH AMERICA: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (USD MILLION)
                        TABLE 524 SOUTH AMERICA: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (USD MILLION)
                        TABLE 525 SOUTH AMERICA: SYNTHETIC LUBRICANTS MARKET, BY TYPE, 2017–2021 (KILOTON)
                        TABLE 526 SOUTH AMERICA: SYNTHETIC LUBRICANT MARKET, BY TYPE, 2022–2028 (KILOTON)
 
14 APPENDIX (Page No. - 408)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 

The study involved four major activities in estimating the market size for lubricants market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:

Primary Research

The lubricants market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by engine oil, turbine oil, gear oil, grease, hydraulic oil, compressor oil, metalworking fluid, and others. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Breakdown of Primary Participants

Lubricants Market Size, and Share

Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022/ 2023, available in the public domain, product portfolios, and geographical presence.

Other designations include consultants and sales, marketing, and procurement managers.

To know about the assumptions considered for the study, download the pdf brochure

COMPANY NAME

DESIGNATION

Exxon Mobil Corporation

Senior Manager

Shell plc

Innovation Manager

Indian Oil Corporation Limited

Vice-President

BP p.l.c.

Production Supervisor

Chevron Corporation

Sales Manager

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the lubricants market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry have been identified through extensive secondary research.
  • The supply chain of the industry has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

Lubricants Market: Bottom-Up Approach

Lubricants Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Lubricants Market: Top-Down Approach

Lubricants Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the lubricants industry.

Market Definition

The lubricants market encompasses a range of substances engineered to diminish friction between surfaces, thereby reducing heat generation and facilitating the transmission of forces during movement. These substances also serve to transport foreign particles and regulate surface temperatures. Employed across diverse applications, from industrial machinery and cooking to bioapplications such as artificial joints, medical procedures, and even intimate relations, lubricants play a pivotal role in mitigating friction, wear, heat generation, noise, and vibrations within mechanical systems.

Key Stakeholders

  • Lubricants manufacturers
  • Lubricants suppliers
  • Raw material suppliers
  • Service providers
  • Application sector companies
  • Government bodies

Report Objectives

  • To define, describe, and forecast the Lubricants market in terms of value and volume
  • To provide detailed information regarding the drivers, opportunities, restraints, and challenges influencing market growth
  • To estimate and forecast the market size by base oil type, product type, end-use industry,  and region
  • To forecast the size of the market for five main regions: Asia Pacific, Europe, North America, South America, and the Middle East & Africa, along with their key countries
  • To strategically analyze micromarkets1 with respect to their growth trends, prospects, and contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To analyze competitive developments, such as deals and expansions, in the market
  • To analyze the impact of the recession on the market
  • To analyze the impact of COVID-19 on the market and end-use industries
  • To strategically profile key players and comprehensively analyze their growth strategies

Available Customizations

with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Regional Analysis

  • Further breakdown of a region with respect to a particular country or additional application type

Company Information

  • Detailed analysis and profiles of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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