Automotive lubricants account for a large share in the global lubricant sales. Lubricants possess high viscosity index, thermal stability, high resistance to corrosion and oxidation, and high boiling and low freezing point. As a result, they are becoming an integral part of automobiles. Soaring sales of automobiles are, therefore, likely to stir up their adoption.
Advantages of “Automotive Lubricants”
Automotive lubricants are used to cut down friction between moving parts of automobiles, thereby reducing wear and tear and ensuring proper functioning of vehicle components. Besides this, they also promote fuel efficiency and help in removing debris and cooling the components. Thus, they ensure the longevity of automobile components.
Development of Climate-suitable Automotive Lubricants
Automotive lubricant manufacturers focus on the development of customized offerings that suit requirements of different vehicles, fuel type, and geographies. In August 2017, ExxonMobil Lubricant Pvt. Ltd. announced the launch of Mobil Super 3000 X1 Formula FE 5W-30 in India. It is an engine oil suitable for both diesel and petrol variants of passenger vehicles. The formula is developed to deliver improved engine performance and protection at both very low and high operating temperatures. This specific feature is particularly relevant in climatic conditions of India.
Market Insights
The rising sales of lightweight and high-performance vehicles can work in favor of the global automotive lubricants market. Enforcement of strict fuel and emission norms coupled with heightened awareness regarding the benefits of automotive lubricants can allow the market to gain substantial impetus over the forecast period (2014 to 2025).
According to Grand View Research, Inc.; rapid urbanization, widening base of middle-class population, rising disposable income, and economic growth in developing countries are expected to positively impact the market. On the other hand, depleting reserves of crude oil can hamper the growth prospects of the market. Some of the key players in the market are Total SA, Royal Dutch Shell, ExxonMobil, Chevron, and British Petroleum.
In-Depth research report on Automotive Lubricants Market :
https://www.grandviewresearch.com/industry-analysis/automotive-lubricants-market
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