The global aerospace lubricant market is expected to reach
USD 998.1 million by 2022, according to a new report by Grand View Research,
Inc. Rising number of trade activities in Asia Pacific and Middle East region
has resulted in need for expansion of aviation capacity further driving
lubricant demand.
Fuel economy improvement, supportive
regulatory policies and fuel emission norms have been creating additional demand
for lubricant. At the same, these factors have also been pushing producers to
invest in R&D and formulate usage specific products with higher
serviceability and viscosity.
Increasing air passenger traffic as a
result of rapidly developing civil aviation sectors in high growth Asian
markets coupled with reduced airfares as a result of high competition from
aviation companies is a key factor driving aircraft utilizations and miles.
This is further expected to complement the global industry growth.
Gas turbine oil was the leading
product segment and accounted for 45.0% of total market volume in 2014. High
oxidative stability, water contamination resistance, and reduction of downtime
are factors that are driving base oil development to meet increasing aircraft
specifications.
Browse full research report on Aerospace Lubricant Market: https://www.grandviewresearch.com/industry-analysis/aerospace-lubricant-market
Further key findings from the report suggest:
- The
global aerospace lubricant market demand exceeded 90 kilo tons in 2014 and
is expected to reach 133.8 kilo tons by 2022, growing at a CAGR of
4.8%from 2015 to 2022
- Civil
aviation emerged as the largest end-use segment with demand share
exceeding 65% in 2014. The sector is expected to generate high demand for
lubricating oil particularly engine oil as a result of increased
trans-continental travel, domestic air passenger traffic rise in Asian
markets and strong preference towards aviation from locomotives in
developing markets.
- Asia
Pacific was the leading consumer and accounted for 39.0% of global volume
in 2014. Growing civil aviation sector as a result of reduced airfares,
increased presence of aircraft operators and rising consumer income
particularly in China, India, Thailand, and Indonesia is expected to drive
the regional market over the forecast period.
- Aerospace
lubricant market is characterized by the presence of integrated companies
who are involved in additive and base oil production as well. In regions
such as China, there is a huge presence of independent blenders which
leads to fragmentation.
- Key companies
in the industry include Exxon Mobil, Shell, British Petroleum, Total
Lubricant, Chevron Corporation, Fuchs Group, Phillips 66, Castrol,
Sinopec, Petrobras, Quaker Chemical Corporation and Aerospace Lubricant,
Inc.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/aerospace-lubricant-market/request/rs1
Grand View Research has segmented the aerospace lubricant market
on the basis of product, end-use and region:
Global Aerospace Lubricant Product Outlook (Volume, Tons; Revenue,
USD Million, 2012 - 2022)
- Gas
Turbine Oil
- Piston
Engine Oil
- Hydraulic
Fluid
- Others
Global Aerospace Lubricant End-Use Outlook (Volume, Tons; Revenue,
USD Million, 2012 - 2022)
- Civil
- Defense
- Space
Global Aerospace Lubricant Regional Outlook (Volume, Tons;
Revenue, USD Million, 2012 - 2022)
- North
America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Asia
Pacific
- India
- China
- Japan
- Central
& South America
- Brazil
- Middle
East and Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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