Global Group IV And V Lubricants Market Size By Product (Engine Oils, Heat Transfer Fluids (HTF)), By Application (Automobile, Industrial), By Geographic Scope And Forecast

Group IV And V Lubricants Market Size And Forecast

Group IV And V Lubricants Market size was valued at USD 7.18 Billion in 2021 and is projected to reach USD 12.29 Billion by 2030, growing at a CAGR of 6.95% from 2022 to 2030.

The major diver for the Group IV And V Lubricants Market and the reason for the growth of the market is that there is an increasing demand for high-performance lubricants in the Automobile Industry. Since Group IV and V have superior characteristics such as reduced flammability and increased life, they are considered high-performance lubricants. The Global Group IV And V Lubricants Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Group IV And V Lubricants Market Definition

Group IV and V Lubricants are synthetic lubricants. Group IV base oils are made from chemically engineered synthesized base oils called polyalphaolefins (PAO). PAOs have molecular uniformity, offer excellent stability and improved performance, superior oxidation stability, and lower volatility. They are widely employed for lubricating applications and are the preferred option when higher temperatures are expected.

They are the most widely used synthetic base oil. Group V base oils are also chemically engineered. They are diesters, polyol esters, polyethylene glycols, and silicone. They are made through reactions to alcohol. Each of the Group IV and V oils has superior properties as compared to other oil-based lubricants. Group IV and V lubricants are excellent for applications like engine oils, gear oils, bearing oils, and so on. They are used widely in the Automobile Industry.

Global Group IV And V Lubricants Market Overview

The Group IV And V Lubricants Market has been driven by the growing demand from the automotive sector. The increase in consumption from the automobile sector is due to the increase in demand for high-performance lubricants. The demand for the automobile sector has increased due to the increase in domestic consumption. There is high consumer awareness regarding the need for use of high-performance lubricants.

The demand for Group IV and V Lubricants is also due to the promotional campaigns of lubricant manufacturers to promote the superior qualities of their lubricants. Another driver for the market is that since there is high rising demand for fuels, the market for high-quality lubricants also increases. Group IV and V lubricants are also used in refrigerator oils. These oils are used to remain compatible with the new and advanced technology of refrigerators that have been introduced. Restraints to the market are that the price of Group IV and V Lubricants is quite high and fluctuates due to the fluctuation of the price of raw materials. This can negatively affect the market.

Global Group IV And V Lubricants MarketSegmentation Analysis

The Global Group IV And V Lubricants Market is Segmented on the basis of Product, Application, And Geography.

Group IV And V Lubricants Market, By Product

• Engine Oils• Heat Transfer Fluids (HTF)• Transmission Fluids• Metal Working Fluids

Based on Product, the market is bifurcated into Engine Oils, Heat Transfer Fluids (HTF), Transmission Fluids, and Metal Working Fluids. The Engine oils segment is expected to hold the largest share of the market since it is widely used to lubricate internal combustion engines.

Group IV And V Lubricants Market, By Application

• Automobile• Industrial

Based on Application, the market is bifurcated into Automobile and Industrial. The Automotive segment is expected to hold the largest market share since the demand for the market has increased in recent years in developing countries which has propelled the growth of the market.

Group IV And V Lubricants Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of regional analysis, the Global Group IV And V Lubricants Market are classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market is that of Europe since holds the largest market for high-end products. The fastest growing sector during the forecast period is expected to be that of Asia Pacific since there is an increase in the industrial and automotive sectors.

Key Players

The “Global Group IV And V Lubricants Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are BP, Chevron, ConocoPhillips, ExxonMobil, FUCHS, Iocl, Millers Oils, Petrobras, PETRONAS Lubricants International, Royal Dutch Shell, Sinopec, TOTAL, and Valvoline. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations, and Agreements

• In Feb 2022, PETRONAS Lubricants International (PLI), a global leader in lubricant manufacturing, announced a strategic partnership with Kavalani & Sons, the region’s leading provider of industrial, construction, and marine equipment, which will allow PLI to access Bahrain’s vast supply market through Kavalani’s renowned distribution network.

• In Jul 2020, Reliance Industries and BP partnered to develop unique fuels, lubricants, retail, and sophisticated low-carbon transportation solutions.

• In Apr 2021, Kia’s Partnership with Total Lubricants Translates to Lower Cost of Ownership for Filipinos.

Mergers and Acquisitions

• In Aug 2020, Total Lubricants acquired LUBRILOG SAS to boost its position in the industrial lubricants market.

• In Jan 2022, U.S. Lubricants purchased a lube blending facility in Baltimore, Maryland, from BP, the company announced, Terms were undisclosed.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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