The ASEAN, GCC, India, Africa lubricants market is anticipated to touch USD 29,532.9 million by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to exhibit a 4.30% CAGR during the assessment period (2017-2023). Increasing demand for lubricants from the automotive sector in the Association of Southeast Asian Nations (ASEAN) and South Africa regions is expected to drive market growth over the forecast period. Expansion of various industries is likely to induce demand for lubricants for the smooth functioning of machinery.

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Players Covered

PetroChina Company Ltd., Morris Lubricants, Indian Oil Corporation Limited, Calumet Specialty Products Partners, L.P, Quaker Chemical Corporation, AMSOIL INC., Valvoline, Inc., Sinopec Corporation, Lucas Oil Products, Inc., Phillips 66 Company, Yushiro Chemical Industry, Chevron Corporation, BP Plc, Exxon Mobil Corporation, Lukoil, Petronas, Clariant, Fuchs Petrolub SE, Rock Valley Oil and Chemical Co., Gulf Oil India, Royal Dutch Shell Plc, Total S.A., and others are noteworthy players in the ASEAN, GCC, India, Africa lubricants market. Players in the market are focusing on strengthening their supply chain by acquiring oilfields and expanding their product offerings to cater to demands from various industrial sectors.

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This report allows the user to gain a deeper understanding of the ongoing events and trends in the ASEAN, GCC, India, Africa market for lubricants. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the ASEAN, GCC, India, Africa lubricants market segmented by base oil, application, end-user, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

Segment Overview

By base oil, the ASEAN, GCC, India, Africa lubricants market has been segmented into mineral oil, synthetic oil, and bio-based oil. The mineral oil segment valuation is anticipated to touch USD 25,417.2 million by 2023. The role of mineral oil as a coolant in insulators and transformers can act as a catalyst to segment growth. This segment can display a 4.20% CAGR over the forecast period. The bio-based oil segment valuation can reach USD 953.1 million by 2023.

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Key Market Opportunities:

New product launches and R&D Amongst major key Players

Key Market Drivers:

Massive demand of lubricants from the automotive sector

 Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.

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Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.

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