Real Estate, Mortgage News

Real Estate News and Press Release Distribution Services
Submit Press Release | Submit RSS Feed | About US | Contact Us

Home | Real Estate News | Mortgage Rates
Unlimited Press Release Distribution
Press release distribution service


News Media
CNN Money
Costar Group
Inman News


Los Angeles Times


National Real Estate Investor
Mortgage News Daily
New York Times
Realtor Magazine
RISMedia
Wall Street Journal
Yahoo Finance
Zawya
RSS News Feed
Get your news feed listed here as other news media shown below! Submit RSS News Feed

Mercury News
New York Post

Real Estate News Releases

CORONA Impact on Lubricants Market worth $165.5 billion in 2021

 



(EstateNewsWire.com, January 13, 2021 ) The report "COVID-19 Impact on Lubricants Market by Product Type (Engine Oil, Hydraulic Oil, Compressor Oil, Metalworking Fluid, Gear Oil, Turbine Oil, and Grease), End-use Industry, and Region - Global Forecast to 2021" The global lubricants market size is estimated to reach USD 165.5 billion by 2021, from USD 164.3 billion in 2019.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=211936239

Lubricants include various compounds such as fluids, oils, and greases. Lubrication is an essential process for industrial processes, which helps to reduce the friction between moving parts or surfaces to enhance the efficiency of machines. Lubricants are manufactured using base oil, which is categorized as mineral oil, synthetic oil, and bio-based oil. Mineral oil and synthetic oil are sourced from petroleum crude, and bio-based oils are sourced from vegetable oils. The major factor that is driving the lubricants market is massive industrialization, the increasing disposable income, and rapid urbanization in emerging countries.

Engine oil is expected to be the most affected product type segment of the lubricants market due to COVID-19.

The engine oil segment is expected to account for the largest share of the lubricants market in 2021, in terms of both volume and value. Engine oil is used mainly in ICEs, where its primary functions include lubrication and heat removal in the automobile and equipment engine. Engines are the most widely used machines, majorly used in vehicles and transport vessels. These engines form the basis of a vehicle function. Engine oil is the most common type of fluid being used in the industry.

The COVID-19 pandemic is likely to pose many challenges to industrial production globally. Lack of workers, global travel restrictions, and disturbed supply chain are some of them which are impacting the most. Even though industries continue their operations, delay in raw material supplies and less to no supply of produced goods have left no choice but to cap production and reduce the capacity utilization rate.

Transportation accounts for the largest share in the lubricants market in 2021 and is expected to be the most affected end-use industry due to COVID-19.

Transportation is expected to account for the largest share of the lubricants market in 2021, in terms of both volume and value. This is due to the rise in vehicle count both in commercial and passenger segments, influenced by the increasing spending power in the developing nations. The growing emphasis on optimized supply chain and logistics will also have a positive impact on this market.

Commercial vehicles are largely used for supply chain and logistics operations for various industries. They are also used for transportation purposes such as public busses and taxis. Commercial vehicles are crucial for some of the industries; even a small downtime in logistics can lead to delays and loss of capital expenditure. Therefore, lubricants play a vital role in business continuity. For the supply chain and logistics business, commercial vehicles play an important role, as they help in the transfer of goods and materials and prevent the degradation of perishable goods, especially in the food & beverage industry.

Don't miss out on business opportunities in CORONA Impact on Lubricants Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=211936239

Browse in-depth TOC on "COVID-19 Impact on Lubricants Market”
91 - Market Data Tables
13 - Figures
119 - Pages

APAC is estimated to be the largest lubricants market in 2021

APAC is projected to lead the lubricants market in 2021, in terms of both volume and value. The increasing population, the rising expenditure in the industrial sector, and the growing vehicle count in emerging markets of China, India, and ASEAN countries are some of the major factors projected to drive the demand for lubricants in the region. Furthermore, improved lifestyle, increase in employment rate, rise in disposable income of the people, and increase in foreign investments in various sectors are making APAC an attractive market for lubricants manufacturers.

The US witnessed the highest number of coronavirus positive cases and witnessed a very high impact on lubricants demand. However, the impact of COVID-19 is not that much deep in other countries of North America, i.e., Canada and Mexico due to comparatively fewer number of positive cases and functioning of end-use industries. The lubricant market in the US is expected to witness a negative growth in 2020 as the country is completely locked down, and very few industries for essential services are functioning. End-use industries such as transportation, oil & gas, automotive, and chemical are the most affected industries of the lubricants industry in the region.

The key lubricants market players profiled in the report include Royal Dutch Shell Plc. (Netherlands), ExxonMobil Corporation (US), Chevron Corporation (US), BP p.l.c. (UK), Total S.A. (France), PetroChina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub AG (Germany), and Idemitsu Kosan Co. Ltd (Japan), among others.


Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=211936239

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com


Real Estate News by Sector
  • Appraiser
  • Consumer News
  • Commercial
  • Mortgage News
  • Property Law
  • REIT News
  • Sales, Marketing
  • Technology

  • Real Estate RSS Marketpalce

    Submit RSS news feed on Real Estate.
    Have your feed on real estate news, products or services displayed under this marketpalce and have your feed on a full page updated daily. Click on example below. Add RSS feed Now!

    EmailWire Real Estate News Releases
    News releases on real estate as posted by businesses, organizations and experts.


    Press release service

    ESTATENewswire is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © GroupWeb Media LLC. All Rights Reserved.

    For unlimited press release distribution for $99 per month or $999 per year, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2009 GroupWeb Media LLC

    GroupWeb Media Network
    AfricaNewswire.Net | AppleNews247.Com | AsiaNewsWire.Net | Aviation-NewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | EuropeNewsWire.Net | iCameroon.com | i-Canada-News.Com | i-SoftwareNews.com | iT-NewsWire.Com
    | InvestorsNewsDesk.Com | i-TravelNewsWire.Com | LegalLaw247.com | Medical-NewsWire.com | MiningNewsWire.net | MoneyNewsWire.Net | Movie-Stars-News.Com | PayDayNews247.Com | PharmaNewsWire.Com | Publishing-NewsWire.Com | Shopping-NewsWire.com | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com |
    ESTATENewswire.Com - Newswire and Press Release service of GroupWeb Media LLC