DUBLIN, Jan 5, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Industrial Lubricants Market 2016-2020" report to their offering.

The global industrial lubricants market to grow at a CAGR of 2.80% during the period 2016-2020.

Global Industrial Lubricants Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The development of environment-friendly lubricants due to the negative impact of petroleum-based lubricants on the environment is a significant trend in the global industrial lubricants market. Several tons of lubricants are washed off into the water streams due to leakages and careless disposal, thus leading to health-related issues. This has resulted in the imposition of several national and international standards that specify the allowed level of toxicity, performance, durability, and the renewability.

According to the report, one of the major drivers for this market is rise in process automation. The demand for products that are superior in quality is increasing due to globalization and population growth. As a result, companies are implementing automation in their manufacturing units. Investment in global process automation is expected to continue to grow at 6% and is projected to reach $120 billion by 2019. This growth is focused in automation of areas such as technology, hardware, software, services, and communication protocol.

Further, the report states that one of the major factors hindering the growth of this market is weak global economic outlook. The global industrial lubricants market is dependent on the manufacturing and industrial business for its sustenance and on the other hand these industries are based on the global economy for its existence. During a strong macro economy, the global appetite for goods increase, thereby fueling the demand for the manufactured products.

Key vendors

• BP
• Castrol
• ExxonMobil
• Shell
• Total

Other prominent vendors

• Apar Industries
• Chevron
• CITGO
• Columbia Petro Chem
• Fuchs Lubricants
• Gazprom
• Idemitsu Kosan
• LIQUI MOLY
• Lubrizol
• LUKOIL
• Pertamina
• Petrobras
• PetroChina
• Sinopec
• SK Lubricants

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by product type

Part 07: Geographical segmentation

Part 08: Market drivers

Part 09: Impact of drivers

Part 10: Market challenges

Part 11: Impact of drivers and challenges

Part 12: Market trends

Bio-based lubricants: Eco-friendly source of fuel

Part 13: Vendor landscape

Part 14: Key vendor analysis

Part 15: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/xtwvvv/global_industrial

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SOURCE Research and Markets