Top 3 Trends Impacting the Global Automotive Lubricants Market Through 2021: Technavio

July 25, 2017

#AutomotiveComponents--Technavio’s latest market research report on the global automotive lubricants market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The global automotive lubricants market is expected to grow steadily during the forecast period. The global automotive industry is continuously evolving and witnessing several developments in the automotive lubricants market. The demand for automotive lubricants in the passenger car segment is positively correlated with the sales of this vehicle type. All passenger cars require lubricants such as engine oil, suspension oil, brake oil, and gearbox oil.

“As the automotive market is becoming more dynamic and vibrant with changing customer preferences toward energy-efficient and performance automobiles, OEMs are offering efficient lubricants that can protect components from wear and tear and increase the replacement interval,” says Amey Vikram, a lead analyst at Technavio for automotive components research.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

The top three emerging market trends driving the global automotive lubricants market according to Technavio research analysts are:
- Growing usage of synthetic oils in APAC
- Growing usage of multigrade lubricants
- Constant need for technological upgrade
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Growing usage of synthetic oils in APAC

The synthetic oil market is currently dominated by Europe, followed by the Americas and APAC. However, APAC is expected to post a higher growth rate in the consumption of synthetic engine oil during the forecast period. Synthetic engine oil is of several types such as polyolefin (PAO), esters, polyalkylene glycol, and group III oils (hydrocracking). Currently, PAO has the largest market share, accounting for more than 50% of the total market share due to several benefits with respect to other synthetic engine oils. Not only is the PAO engine oil less volatile and more oxidative, but it is also less expensive as compared to other engine oils.

There is growing trend where synthetic engine oils are replacing semi-synthetic and mineral engine oils. But the prices of mineral and semi-synthetic engine oils are one-third of the prices of synthetic engine oils. This hampers the sales of synthetic engine oils. However, as soon as suppliers start adopting low-cost production techniques of synthetic engine oils, these fluids will replace semi-synthetic and mineral engine oils.

Growing usage of multigrade lubricants

There has been growing usage of multigrade lubricants. This trend is predominant in Europe and North America. Multigrade oils are preferred in these regions due to their better performance in cold climates. Many countries in North America and Europe often face harsh winters. As a result, the engine start-up procedure is often delayed.

“Multigrade oils perform better in cold temperatures as they reduce the lead start-up time. Society of Automotive Engineers conformant lubricants uses special polymer additives that keep the viscosity of the formulation constant despite a change in temperature. Therefore, cold weather protection and better mileage performance propel most consumers to opt for multigrade oils,” says Amey.

Constant need for technological upgrade

The rapid technological advances in the manufacture of machinery and automobiles are intensifying the need for environment-friendly and high-performance lubricants and lubricant additives. Therefore, lubricant manufacturers must constantly upgrade their production capabilities and product portfolio to match the revised requirements.

Although this results in the emergence of value-added products, it severely affects the profit margins of lubricant manufacturers. Apart from the additional costs of revised formulations, vendors also incur the capital costs associated with the technology and infrastructural upgrades. Noncompliance with the revised requirements invites regulatory attention and leads to a decline in market shares.

Browse Related Reports:
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

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LONDON–(BUSINESS WIRE)–#AutomotiveComponents–Technavio’s latest market research report on the global
automotive lubricants market provides an analysis of the
most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The global automotive lubricants market is expected to grow steadily
during the forecast period. The global automotive industry is
continuously evolving and witnessing several developments in the
automotive lubricants market. The demand for automotive lubricants in
the passenger car segment is positively correlated with the sales of
this vehicle type. All passenger cars require lubricants such as engine
oil, suspension oil, brake oil, and gearbox oil.

“As the automotive market is becoming more dynamic and vibrant with
changing customer preferences toward energy-efficient and performance
automobiles, OEMs are offering efficient lubricants that can protect
components from wear and tear and increase the replacement interval,” says
Amey Vikram, a lead analyst at Technavio for automotive
components research.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

The top three emerging market trends driving the global automotive
lubricants market according to Technavio research analysts are:

Growing usage of synthetic oils in APAC
Growing usage of multigrade lubricants
Constant need for technological upgrade

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Growing usage of synthetic oils in APAC

The synthetic oil market is currently dominated by Europe, followed by
the Americas and APAC. However, APAC is expected to post a higher growth
rate in the consumption of synthetic engine oil during the forecast
period. Synthetic engine oil is of several types such as polyolefin
(PAO), esters, polyalkylene glycol, and group III oils (hydrocracking).
Currently, PAO has the largest market share, accounting for more than
50% of the total market share due to several benefits with respect to
other synthetic engine oils. Not only is the PAO engine oil less
volatile and more oxidative, but it is also less expensive as compared
to other engine oils.

There is growing trend where synthetic engine oils are replacing
semi-synthetic and mineral engine oils. But the prices of mineral and
semi-synthetic engine oils are one-third of the prices of synthetic
engine oils. This hampers the sales of synthetic engine oils. However,
as soon as suppliers start adopting low-cost production techniques of
synthetic engine oils, these fluids will replace semi-synthetic and
mineral engine oils.

Growing usage of multigrade lubricants

There has been growing usage of multigrade lubricants. This trend is
predominant in Europe and North America. Multigrade oils are preferred
in these regions due to their better performance in cold climates. Many
countries in North America and Europe often face harsh winters. As a
result, the engine start-up procedure is often delayed.

“Multigrade oils perform better in cold temperatures as they reduce
the lead start-up time. Society of Automotive Engineers conformant
lubricants uses special polymer additives that keep the viscosity of the
formulation constant despite a change in temperature. Therefore, cold
weather protection and better mileage performance propel most consumers
to opt for multigrade oils,” says Amey.

Constant need for technological upgrade

The rapid technological advances in the manufacture of machinery and
automobiles are intensifying the need for environment-friendly and
high-performance lubricants and lubricant additives. Therefore,
lubricant manufacturers must constantly upgrade their production
capabilities and product portfolio to match the revised requirements.

Although this results in the emergence of value-added products, it
severely affects the profit margins of lubricant manufacturers. Apart
from the additional costs of revised formulations, vendors also incur
the capital costs associated with the technology and infrastructural
upgrades. Noncompliance with the revised requirements invites regulatory
attention and leads to a decline in market shares.

Browse Related Reports:

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com