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Lubricants Market Outlook 2025: New Opportunities worth USD 178.1 billion by 2025 in Lubricants Industry - Exclusive Report by MarketsandMarkets™


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MarketsandMarkets

20 Dec, 2024, 11:30 GMT

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DELRAY BEACH, Fla., Dec. 20, 2024 /PRNewswire/ -- The report "Lubricants Market Outlook 2025 Navigating the sustainable and disruptive Horizon of Tomorrow", published by MarketsandMarkets, The lubricants market size was USD 173.5 billion in 2024 and is projected to reach USD 178.1 billion by 2025, at a CAGR of 2.7%, between 2024 and 2025. The global lubricants market is expected to increase highly in the coming years due to a number of factors. A major driver for growth in the market is increasing demand for high-performance engines in the automotive and industrial sectors. The expanding marine industry, and the limitations of electric vehicles are other factors that are driving the lubricant market. Furthermore, a growing global population along with industrialization and urbanization is creating an increasing demand for lubricants in all sorts of applications, such as transportation, manufacturing, and agriculture.

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Transportation was the largest end-use industry in the overall lubricants market in terms of value, in 2023.

Transportation is one of the major end-user applications that occupies the leading spot globally in the lubricants industry due to high consumption of these chemicals for use in both on-shore and off-shore vehicles, mainly involving high amounts of lubricating greases. Engine oil is responsible for the smooth, safe and efficient running, extending their lifetime, avoiding excessive heat generation, reduction in wear, and lessened friction of vehicles while, of course, rising auto-productions, which fuels its market. Besides, new high technologies of lubricants are also encouraging performance enhancement across different transport modes.

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Europe is estimated to be the second-largest market for the lubricants market, in terms of value, during the forecast period.

Lubricant market in Europe is the second largest market with a strong automotive sector, advanced manufacturing and high demand for high-performance lubricants. Strict environmental regulations and the pursuit of fuel efficiency characterize the region. The most important sectors being automotive, aerospace, and machinery are repeatedly driving lubricant demand. There also arise the rising trend in renewable energy and electric vehicle that make innovation in lubricant formulation which would cater to the evolving needs in the industry.

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Get access to the latest updates on Lubricants Market Outlook 2025

Browse Adjacent Market: Bulk Chemicals and Inorganics Market Research Reports & Consulting

Related Reports:

Lubricants Market - Global Forecast To 2029

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PFAS Waste Management Market - Global Forecast To 2029

Sustainable Feedstock Market - Global Forecast To 2029

Green Water Treatment Chemicals Market - Global Forecast To 2029

5G Materials Market - Global Forecast to 2029

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

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