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.
Request to Sample of
This Report @ http://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.
To Get Sample Copy of Report visit
@ http://www.grandviewresearch.com/industry-analysis/aerospace-lubricant-market/request
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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For More Information,
Visit Grand
View Research
Contact:
Sherry James
Corporate Sales Specialist, U.S.A.
Grand View Research, Inc.
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
No comments:
Post a Comment