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U.S. Lubricants Market Rising Popularity Due To Automotive Application Segment With Key Players Such As Total S.A., ExxonMobil, British Petroleum, And Royal Dutch Shell

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U.S. Lubricants Market Rising Popularity Due To Automotive Application Segment With Key Players Such As Total S.A., ExxonMobil, British Petroleum, And Royal Dutch Shell

May 18
12:55 2020
U.S. Lubricants Market Rising Popularity Due To Automotive Application Segment With Key Players Such As Total S.A., ExxonMobil, British Petroleum, And Royal Dutch Shell

Grand View Research, Inc. – Market Research And Consulting.
U.S. Lubricants Market Size, Share & Trends Analysis Report By Application (Industrial, Automotive, Marine, Aerospace), And Segment Forecasts, 2020 – 2027

The U.S. lubricants market size is projected to reach USD 24.50 billion by 2027, expanding at a CAGR of 3.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for industrial lubricants in U.S. is anticipated to boost the market growth over the forecast period.

Rapid industrialization in the country led to higher consumption of oils in the industrial sector. Lubricants are widely used across various manufacturing industries, including metal forming, mining, paper & mill, construction, agriculture, food & beverages, energy, plastics, and others. Growth of the manufacturing industry has a direct impact on the demand for the lubricants. Increasing focus on the development of domestic manufacturing sector is likely to positively affect the demand for lubricants in the country. Other factors facilitating the lubricant consumption include focus on productive and cost-effective manufacturing techniques, increased mergers & acquisitions, and reshoring of factories.

Inflow of foreign investments in the marketspace, coupled with availability of several skilled labors with high adaptivity to technological interfacing, is driving the manufacturing sector in U.S. Rapid growth of the niche manufacturing sectors, like 3D printing, is also a key force behind constant demand for lubricants used in the printing machines. Moreover, as of 2017, in U.S., the major industrial machinery utilization was observed in the construction and agriculture industries, followed by the mining and food processing industries.

Furthermore, in terms of automotive industry movement, downsizing liter engine segment vehicles to reduce vehicle weight and enhance fuel efficiency is considered to be yet another key factor boosting the sales of passenger cars in U.S. With the rise in sales of automobiles in U.S., the projected consumption of lubricants in the manufacturing and maintenance of vehicles in the country is also expected to rise in the coming years.

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U.S. lubricants market demand, by application, 2007 - 2027 (Kilotons)

Further key findings from the study suggest

  • The automotive application segment held the largest share of 57.73% in U.S. in 2019 due to high demand for vehicle maintenance. Engine oils held the largest share in 2019 and transmission fluids are anticipated to witness the fastest growth over the forecast period
  • The aerospace sector is projected to expand at the fastest CAGR of 4.0% in terms of volume due to increased shipping demand for U.S. produced civil space systems, general aviation aircrafts, and commercial aircrafts
  • In the industrial application segment, industrial engine oil is projected to register the highest CAGR of 3.2% from 2020 to 2027 due to high demand for the product to enhance machinery life by reducing wear and tear of engine components
  • Key players in U.S. lubricants market such as Total S.A., ExxonMobil, British Petroleum, and Royal Dutch Shell have integrated operations across the value chain.

U.S. lubricants market share, by application, 2019 (%)

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Chapter 1 Methodology and Scope

                    1.1 Market segmentation & scope
                    1.2 Research assumptions
                    1.3 Research methodology
                    1.4 Information procurement
                    1.5 Information analysis
                    1.6 Market formulation & data visualization
                    1.7 Data validation & publishing
                    1.8 List to data sources
Chapter 2 Executive Summary
                    2.1 Market outlook
                    2.2 Segment outlook
                    2.3 Competitive insights
Chapter 3 U.S. Lubricants Market Variables, Trends, & Scope
                    3.1 Market lineage outlook
                         3.1.1 U.S. lubricants industry outlook
                         3.1.2 Outlook on end-use industries
                    3.2 Penetration & growth prospect mapping
                    3.3 Industry value chain analysis
                         3.3.1 Raw material trends
                         3.3.2 Manufacturing & technology trends
                     Filtering & solvent extraction
                     Additives, inspection, & packaging
                         3.3.3 Sales channel analysis
                         3.3.4 Vendor landscape
                     List of manufacturers
                     List of distributors
                     List of potential end users
                         3.3.5 Vendor selection criteria
                         3.3.6 Profit margin analysis
                    3.4 Price trend analysis
                    3.5 Regulatory framework

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
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City: San Francisco
State: California
Country: United States