Lubricants market size likely to exceed USD 74 billion by
2022: Global Market Insights, Inc.
Lubricants market size is forecast to generate USD 74.6 billion revenue by 2022; as per a
new research report by Global Market Insights, Inc. Transportation industry growth,
particularly automobile production, is likely to drive lubricants market size. Increase in
drilling & exploration activities owing to growth in oilfield chemicals should also spur
Industrial lubricants market size was dominant and occupied a share of over 38% of the
total volume in 2014. Increase in industrial output coupled with capacity expansions in
mining, machinery and metal forming should favor lubricants ...view middle of the document...
S., Germany, UK, China, India, Japan, LATAM, MEA), Application Potential, Price
Trend, Competitive Market Share & Forecast, 2015 – 2022 report at:
Key insights from the report include:
Global lubricants market size estimates were 37.7 million tons in 2014 and are
forecast to attain growth rates at 2.9% up to 2022 and reach 47.7 million tons.
APAC, driven by China and India lubricants market size domestic consumption, was
dominant regional industry. China metal working fluids market was valued at USD
approximately USD 310 million in 2014.
The U.S. lubricants market share was estimated at approximately 6.3 million tons in
2014. Heavy duty engine oil demand dominated commercial lubricants market as
revenue generation in 2014 exceeded USD 1.1 billion.
MEA lubricants market estimate, mainly driven by Saudi Arabia, Qatar and UAE, was
calculated over 3.6 million tons in 2014. MEA enjoys the advantage of having natural
resources in abundance which ensures continuous supply of key feedstock.
MEA passenger vehicle engine oil market is likely to be the fastest growing and
register demand over 1 million tons by 2022.