Lubricants market size in India to grow by 809.93 thousand tons from 2021 to 2026; Growth driven by increasing demand from end-user industries - Technavio

NEW YORK, April 17, 2023 -- The lubricants market in India size is forecast to increase by 809.93 thousand tons from 2021 to 2026, at a CAGR of 5.58%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing demand from end-user industries. Charts & data tables about market and segment sizes for the forecast period (2022-2026) are included in this report. Download The Sample Report

Vendor Analysis

The lubricants market in India is fragmented with the presence of several regional and international players. The vendors are adopting various organic and inorganic growth strategies to remain competitive in the market. Some of the key vendors covered in the report include:

• Bharat Petroleum Corp. Ltd. - The company offers lubricant products that include engine oil, gear oils, greases, petrol, oil, grease, penetrating lubricants, dry lubricants, and others, under the brand name of Bharat Petroleum Corp. Ltd.
• BP Plc - The company offers lubricant products that include gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, and others, under the brand name of BP Plc.
• Exxon Mobil Corp. - The company offers lubricant products that include crude oil, natural gas, petroleum products, petrochemical, natural gas exploration, production, refining, and others, under the brand name of Exxon Mobil Corp.
• Gulf Oil Lubricants India Ltd. - The company offers lubricant products that include engine oil, gear oils, greases, petrol, oil, grease, penetrating lubricants, petroleum, gas, and others, under the brand name of Gulf Oil Lubricants India Ltd.
• Indian Oil Corp. Ltd.
• Oil and Natural Gas Corp. Ltd.
• Royal Dutch Shell Plc
• Tide Water Oil Co. Ltd.
• TOTAL SE
• Valvoline Inc.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Market Segmentation:

The market is segmented by product (mineral oil-based lubricants, synthetic lubricants, and bio-based lubricants) and application (automotive oils, industrial oils, process oils, metalworking fluids, and greases).

The market growth in the mineral oil-based lubricants segment will be significant during the forecast period. Mineral oil-based lubricants are manufactured on a large scale during petroleum refining. Hence, they are less expensive than synthetic and bio-based lubricants. The low cost and easy accessibility of mineral oil-based lubricants are the key factors driving the growth of the segment.

Market Dynamics:

Key Drivers:

The market is driven by the increasing demand from end-user industries. Lubricants are widely used in various industrial applications. In the construction industry, lubricants are used in construction equipment to reduce wear and tear of moving parts and corrosion. Hydraulic fluids made from lubricants are used in crawler excavators, mini excavators, and others owing to their energy transmission capacity. In the steel industry, lubricants are used in hydraulic fluids, compressor oils, and others in equipment such as blast furnaces, continuous castings, and others. Such expanding applications of lubricants in various end-user industries drive the growth of the market.

Major Trends:

The rising adoption of synthetic lubricants is identified as the key trend in the market. Synthetic lubricants offer various advantages over mineral oil-based lubricants. They offer better performance and provide effective resistance to corrosion and oxidation. The use of synthetic lubricants improves the lifespan of machinery owing to the reduced wearing of machine parts. In addition, synthetic lubricants last 4-8 times longer than mineral oil-based lubricants and can operate at temperatures as high as 450 °C. Many such benefits are increasing the use of synthetic lubricants among end-users, thereby driving market growth.

Key Challenges:

The fluctuation in the prices of crude oil will challenge the growth of the market. Lubricants are primarily derived from hydrocarbons from petroleum. Synthetic esters, PAOs, phosphate esters, glycols, and other silicate esters obtained from petroleum are some of the other raw materials used in the manufacture of lubricants. Thus, volatility in the prices of crude oil will directly affect the profit margins of lubricant manufacturers and can have a negative impact on the growth of the market in focus.

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What are the key data covered in this lubricants market in India report

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the lubricants market in India between 2022 and 2026
• Precise estimation of the size of the lubricants market in India and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the lubricants market across India
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of lubricants market vendors in India

Related Reports:

• The global lubricant anti wear agents market size is estimated to grow by USD 93.04 million between 2022 and 2027 and the size of the market is forecast to increase at a CAGR of 2.45%. The market is segmented by channel (captive and merchant), type (zinc dialkyl di-thiophosphate, phosphate, phosphite, and phosphonate), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
• The aviation lubricants market is projected to grow by USD 887.13 million with a CAGR of 6.1% during the forecast period 2021 to 2026. The market is segmented by platform (commercial aviation, military aviation, and general aviation) and geography (North America, APAC, Europe, South America, and the Middle East and Africa).

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Table of contents:

1. Executive Summary 

• 1.1 Market Overview
• Exhibit 01: Key Finding 1
• Exhibit 02: Key Finding 2
• Exhibit 03: Key Finding 5
• Exhibit 04: Key Finding 6
• Exhibit 05: Key Finding 7

2. Market Landscape 

• 2.1 Market ecosystem 
• 2.1.1 Parent Market
• Exhibit 06: Parent market
• Exhibit 07: Market characteristics
• 2.2 Value chain analysis  
• Exhibit 08: Value chain analysis: Specialty chemicals
• 2.2.1 Inputs
• 2.2.2 Inbound logistics
• 2.2.3 Operations
• 2.2.4 Outbound logistics
• 2.2.5 Marketing and sales
• 2.2.6 Support activities
• 2.2.7 Industry innovations

3. Market Sizing 

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition
• 3.2 Market segment analysis  
• Exhibit 10: Market segments
• 3.3 Market size 2021 
• 3.4 Market outlook: Forecast for 2021 - 2026 
• 3.4.1 Estimating growth rates for emerging and high-growth markets
• 3.4.2 Estimating growth rates for mature markets 
• Exhibit 11: India - Market size and forecast 2021 - 2026 (thousand tons)
• Exhibit 12: India market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis

• 4.1 Five Forces Summary
• Exhibit 13: Five forces analysis 2021 & 2026
• 4.2 Bargaining power of buyers  
• Exhibit 14: Bargaining power of buyers
• 4.3 Bargaining power of suppliers  
• Exhibit 15: Bargaining power of suppliers
• 4.4 Threat of new entrants 
• Exhibit 16: Threat of new entrants
• 4.5 Threat of substitutes  
• Exhibit 17: Threat of substitutes
• 4.6 Threat of rivalry  
• Exhibit 18: Threat of rivalry
• 4.7 Market condition
• Exhibit 19: Market condition - Five forces 2021

5.Market Segmentation by Product

• 5.1 Market segments
• Exhibit 20: Product - Market share 2021-2026 (%)
• 5.2 Comparison by Product 
• Exhibit 21: Comparison by Product
• 5.3 Mineral oil-based lubricants - Market size and forecast 2021-2026  
• Exhibit 22: Mineral oil-based lubricants - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 23: Mineral oil-based lubricants - Year-over-year growth 2021-2026 (%)
• 5.4 Synthetic lubricants - Market size and forecast 2021-2026  
• Exhibit 24: Synthetic lubricants - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 25: Synthetic lubricants - Year-over-year growth 2021-2026 (%)
• 5.5 Bio-based lubricants - Market size and forecast 2021-2026 
• Exhibit 26: Bio-based lubricants - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 27: Bio-based lubricants - Year-over-year growth 2021-2026 (%)
• 5.6 Market opportunity by Product 
• Exhibit 28: Market opportunity by Product

6 Market Segmentation by Application 

• 6.1 Market segments
• Exhibit 29: Application - Market share 2021-2026 (%)
• 6.2 Comparison by Application  
• Exhibit 30: Comparison by Application
• 6.3 Automotive oils - Market size and forecast 2021-2026  
• Exhibit 31: Automotive oils - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 32: Automotive oils - Year-over-year growth 2021-2026 (%)
• 6.4 Industrial oils - Market size and forecast 2021-2026 
• Exhibit 33: Industrial oils - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 34: Industrial oils - Year-over-year growth 2021-2026 (%)
• 6.5 Process oils - Market size and forecast 2021-2026 
• Exhibit 35: Process oils - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 36: Process oils - Year-over-year growth 2021-2026 (%)
• 6.6 Metalworking fluids - Market size and forecast 2021-2026  
• Exhibit 37: Metalworking fluids - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 38: Metalworking fluids - Year-over-year growth 2021-2026 (%)
• 6.7 Greases - Market size and forecast 2021-2026  
• Exhibit 39: Greases - Market size and forecast 2021-2026 (thousand tons)
• Exhibit 40: Greases - Year-over-year growth 2021-2026 (%)
• 6.8 Market opportunity by Application 
• Exhibit 41: Market opportunity by Application

7. Customer landscape 

• 7.1 Overview
• Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
• Exhibit 42: Customer landscape

8. Drivers, Challenges, and Trends 

• 8.1 Market drivers 
• 8.1.1 Increasing demand from end-user industries
• 8.1.2 Increasing need for reliable machinery and effective maintenance
• 8.1.3 Increased implementation of automatic lubrication systems
• 8.2 Market challenges
• 8.2.1 Fluctuations in crude oil prices
• 8.2.2 Environmental impact of lubricants
• 8.2.3 Increasing adoption of electric vehicles 
• Exhibit 43: Impact of drivers and challenges
• 8.3 Market trends
• 8.3.1 Rising adoption of synthetic lubricants
• 8.3.2 Rising need for technological upgrades
• 8.3.3 Growing number of industry-specific products

9. Vendor Landscape 

• 9.1 Overview
• Exhibit 44: Vendor landscape
• 9.2 Vendor Disruption  
• Exhibit 45: Landscape disruption
• Exhibit 46: Industry risks

10. Vendor Analysis 

• 10.1 Vendors covered  
• Exhibit 47: Vendors covered
• 10.2 Market positioning of vendors  
• Exhibit 48: Market positioning of vendors
• 10.3 Bharat Petroleum Corp. Ltd. 
• Exhibit 49: Bharat Petroleum Corp. Ltd. - Overview
• Exhibit 50: Bharat Petroleum Corp. Ltd. - Business segments
• Exhibit 51: Bharat Petroleum Corp. Ltd. - Key offerings
• Exhibit 52: Bharat Petroleum Corp. Ltd. - Segment focus
• 10.4 BP Plc
• Exhibit 53: BP Plc - Overview
• Exhibit 54: BP Plc - Business segments
• Exhibit 55: BP Plc - Key news
• Exhibit 56: BP Plc - Key offerings
• Exhibit 57: BP Plc - Segment focus
• 10.5 Exxon Mobil Corp.
• Exhibit 58: Exxon Mobil Corp. - Overview
• Exhibit 59: Exxon Mobil Corp. - Business segments
• Exhibit 60: Exxon Mobil Corp. - Key news
• Exhibit 61: Exxon Mobil Corp. - Key offerings
• Exhibit 62: Exxon Mobil Corp. - Segment focus
• 10.6 Gulf Oil Lubricants India Ltd. 
• Exhibit 63: Gulf Oil Lubricants India Ltd. - Overview
• Exhibit 64: Gulf Oil Lubricants India Ltd. - Business segments
• Exhibit 65: Gulf Oil Lubricants India Ltd. - Key offerings
• Exhibit 66: Gulf Oil Lubricants India Ltd. - Segment focus
• 10.7 Indian Oil Corp. Ltd. 
• Exhibit 67: Indian Oil Corp. Ltd. - Overview
• Exhibit 68: Indian Oil Corp. Ltd. - Business segments
• Exhibit 69: Indian Oil Corp. Ltd. - Key offerings
• Exhibit 70: Indian Oil Corp. Ltd. - Segment focus
• 10.8 Oil and Natural Gas Corp. Ltd.  
• Exhibit 71: Oil and Natural Gas Corp. Ltd. - Overview
• Exhibit 72: Oil and Natural Gas Corp. Ltd. - Business segments
• Exhibit 73: Oil and Natural Gas Corp. Ltd. - Key offerings
• Exhibit 74: Oil and Natural Gas Corp. Ltd. - Segment focus
• 10.9 Royal Dutch Shell Plc  
• Exhibit 75: Royal Dutch Shell Plc - Overview
• Exhibit 76: Royal Dutch Shell Plc - Business segments
• Exhibit 77: Royal Dutch Shell Plc - Key offerings
• Exhibit 78: Royal Dutch Shell Plc - Segment focus
• 10.10 Tide Water Oil Co. Ltd.  
• Exhibit 79: Tide Water Oil Co. Ltd. - Overview
• Exhibit 80: Tide Water Oil Co. Ltd. - Business segments
• Exhibit 81: Tide Water Oil Co. Ltd. - Key offerings
• Exhibit 82: Tide Water Oil Co. Ltd. - Segment focus
• 10.11 TOTAL SE 
• Exhibit 83: TOTAL SE - Overview
• Exhibit 84: TOTAL SE - Business segments
• Exhibit 85: TOTAL SE - Key news
• Exhibit 86: TOTAL SE - Key offerings
• Exhibit 87: TOTAL SE - Segment focus
• 10.12 Valvoline Inc. 
• Exhibit 88: Valvoline Inc. - Overview
• Exhibit 89: Valvoline Inc. - Business segments
• Exhibit 90: Valvoline Inc. - Key offerings
• Exhibit 91: Valvoline Inc. - Segment focus

11. Appendix

• 11.1 Scope of the report 
• 11.1.1 Market definition
• 11.1.2 Objectives
• 11.1.3 Notes and caveats
• 11.2 Currency conversion rates for US$ 
• Exhibit 92: Currency conversion rates for US$
• 11.3 Research Methodology  
• Exhibit 93: Research Methodology
• Exhibit 94: Validation techniques employed for market sizing
• Exhibit 95: Information sources
• 11.4 List of abbreviations  
• Exhibit 96: List of abbreviations

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