Global Automotive Lubricants Market size is expected to reach USD 97.59 Billion in 2030 and register a revenue CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Rising demand for synthetic oil and an increasing number of passenger cars in developing countries are driving Global Automotive Lubricants market revenue growth.

Automotive lubricant is a fluidic material that primarily reduces friction between surfaces that come into contact. Lubricant efficiently reduces energy loss caused by friction. Moreover, it also aids in cleaning, cooling and protecting metal parts from corrosion and rust, as well as many other challenges faced by a machine during operation. Engine oil, for example, is a type of lubricant designed specifically for use in engines. High-quality engine oil is essential for an engine's proper functioning; it improves engine efficiency by preventing damage and extending engine life.

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Major Companies Operating in the industry and profiled in the report are:

ExxonMobil Corporation(U.S.A), Chevron Corporation (U.S.A), Fuchs Lubricants Co. (U.S.A), ConocoPhillips Corporation (U.S.A), LUKOIL Oil Company (Russia), IDEMITSU Kosan Co. Ltd. (Japan), Royal Dutch Shell plc (Netherlands), Total S.A. (France) and Valvoline (U.S.A)., Castrol (U.K.)

Further key findings from the report suggest:

The market for Engine Oil segment is projected to grow significantly and owing to the increase in consumption of engine oil. Countries like India accounts in excess of 2.5 billion liters of annual engine oil consumption including the aftermarket and is growing at 2-2.5% per anum.

The passenger car segment will grow at a CAGR of 4.9% during the forecasted period owing to the increase in the disposable income of the people and steady global economic growth.

The shale revolution in United States has unleashed major source of cheap domestic feedstock. One of the key advantages of the global economic growth is that it is lifting more people into the middle class in developing countries and higher incomes mean sharply increasing the demand for consumer goods and services

Asia Pacific region is estimated to grow significantly due to the at a CAGR of 41% owing to the increase in adoption of new vehicles as well as the increase in adoption of high-tech Global Automotive Lubricants fuel the demand for Global Automotive Lubricants

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Market Overview:

Businesses involved in the discovery, production, and processing of raw resources are classified as part of the basic materials sector. Mining and metal refining, chemical goods, and forestry products are all part of this industry.

The enterprises that supply the majority of the materials needed in building are found in this sector. As a result, the companies and their stocks are sensitive to business cycle shifts. When the economy is robust, they tend to thrive.

The physical acquisition, development, and early processing of the many items often referred to as raw materials are all handled by companies in the basic materials sector. Examples include oil, gold, and stone.

Companies involved in the finding, production, and processing of raw resources, such as gold and oil, as well as timber, make up the basic materials industry.

They sell the raw materials they finish for use in practically every other business.

The sector is highly vulnerable to the economy's ups and downs.

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Base Oil:

Mineral Oil

Synthetic

Semisynthetic

Bio-Based Lubricants

Vehicle Type:

Passenger Cars

Light Commercial Vehicles

Heavy Commercial Vehicles

Others

Applications:

Engine Oil

Gear Oil

Brake Fluids

Transmission Fluids

Coolants

Greases

The regional analysis covers:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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