Global Lubricants

7th Edition

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This study examines the global market for finished lubricants. Products covered include:

  • engine oils
  • transmission and hydraulic fluids
  • process oils
  • metalworking fluids
  • general industrial oils
  • gear oils
  • greases

Demand for finished lubricants is discussed in terms of intended markets, including:

  • motor vehicles
    • light-duty vehicles
    • medium- and heavy-duty vehicles
    • motorcycles
  • manufacturing
  • off-highway equipment
    • construction machinery (e.g., excavators, cranes, pavers)
    • mining machinery (e.g., surface mining equipment, mining drills and breakers)
    • agricultural equipment (e.g., farm tractors, harvesting machinery, sprayers)
  • transportation equipment
    • marine (e.g., passenger and cargo ships, yachts and other recreational boating, military ships and submarines)
    • railroad
    • aerospace (military, commercial, and personal aircraft; spacecraft; communications satellites)
  • other markets (e.g., oil and gas exploration and production, electric power generation)

Demand is also discussed in terms of lubricant formulation:

  • conventional petroleum
  • synthetic
  • re-refined
  • biobased

World base oil trends, as well as finished lubricant production and trade, are also discussed. Purchasers of Freedonia Group studies covering the US market for lubricants should note that the product segments differ; in this study, tractor transmission fluids (also known as universal tractor fluids) are included with hydraulic fluids, while all other transmission fluids are included in the other products category. It should also be noted that world base oil demand is discussed in terms of the location of finished lubricant end use and not of lubricant production or blending. Additionally, API Group III base oils and lubricants from which they are formulated are classified in this study as synthetic products. This differs from prior versions.

Historical data for 2009, 2014, and 2019, and forecasts for 2024 and 2029 are provided for lubricant demand by product type and market for six regions and 24 individual countries. In this study, the term “demand” is used synonymously with “sales” and “consumption”. Tabular details may not add to totals due to independent rounding, and ratios may be rounded for clarity.

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