1. Market Research
  2. > Chemical
  3. > Specialty Chemical Market Trends
COVID-19 Impact on Lubricants Market by Product type, End-use Industry and Region - Global Forecast to 2021

COVID-19 Impact on Lubricants Market by Product type, End-use Industry and Region - Global Forecast to 2021

  • April 2020
  • 120 pages
  • ID: 5891553
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

Global lubricants market is forecasted to recover in 2021 after negative impact to COVID-19
The global lubricants market is expected to witness a downfall in 2020 with a negative growth of 0.95% and market is expected to rebound and witness recovery in 2021. The decline in the market is primarily due to the spread of COVID-19 across the globe, impacting the functioning of key end-use industries using lubricants. Almost, the entire world has been under lockdown in different period to prevent the spread of the virus, leading to suspension of industrial and transportation activities.
Engine oil to be the most affected product type segment in the global lubricants market.

Engine oil is the largest and most affected product type segment in the lubricants market.It is expected to witness a negative impact due to lockdown, as demand from the passenger vehicle segment is at an all-time low.

The demand is relatively low in the commercial segment as well.OEMs have also halted production, which has further decreased the demand for engine oil.

Due to nationwide lockdown, Germany, the US, China, India, and France have witnessed a downfall in traffic and very little to no automotive movement.

Transportation is the largest and most affected end-use industry segment in the global lubricants market.
Currently, all heavy transport is suspended at least for a month.However, due to a few of the necessary goods still being produced and transported, such as food products, metal and mining, and healthcare products, commercial fleets are operating at very low output.

This will have a huge impact on the commercial vehicle segment.In 2020, the market is expected to fall, as per industry experts.

After the lockdown is over, the market will grow as the industry will have to finish supply laggards and pending orders. Especially when all the important industries will resume production, the supply chain industry is expected to get boom from the start.

The automotive industry has been under crisis since 2019 due to the worldwide downfall of automotive sales.With changing regulations and policies, the consumer trend has declined; for example, India has shifted from BS4 to BS6 norms for automotive engines.

As per industry experts, the market was expected to increase; however, amidst the pandemic, the sales have declined, and due to the lockdown, personal vehicles are not utilized. This will lead to low oil change requirements.

North America and APAC are expected to be the most affected region for lubricants market due to COVID-19
The APAC and North American lubricants markets are adversely affected by COVID-19 and expected to witness a decline in the market in 2020.The market is also expected to witness recovery in 2021.

Although Europe is one of the major hotspots for COVID-19, it is expected to witness lesser impacts than North America and APAC because of their large number of manufacturing industries and vehicles on road.Governments in different countries are imposing lockdown to avoid the spread of the coronavirus, which has made industries, such as cement production, automotive manufacturing, chemical, and oil & gas, suspend their operations.

It is affecting the demand for lubricants.
Countries such as China, the US, France, Germany, the UK, Italy, and Spain have witnessed a severe impact of the pandemic with a high number of positive cases and deaths. Lubricant manufacturers in each of the countries are taking adequate measures to overcome the situation.
• By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
• By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
• By Region: North America - 32%, Europe - 21%, APAC - 28%, South America - 12%, Middle East & Africa - 7%,

The key players profiled in the lubricants market report include as Royal Dutch Shell (Netherlands), ExxonMobil (US), BP PLC (UK), Chevron Corporation (US), Total S.A. (France), PetroChina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), Sinopec Limited (China), Fuchs Petrolub AG (Germany), Valvoline (US), LUKOIL (Russia), Petronas (Malaysia), Gazprom Neft (Russia), and Pertamina (Indonesia), among others.

Research Coverage
This report segments the lubricants market based on product type, end-use industry, and region, and provides estimations for the overall market size across various regions.A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies associated with the market for lubricants.

Furthermore, impacts on end-use industries and necessary measures taken by respective end-use industries are also elaborated separately in the report.

Reasons to Buy this Report
This research report is focused on estimating the impact of COVID-19 on global lubricants market.The most important content of the report includes disruption in respective end-use industries, measures taken by end-use industries, and impact on lubricant blenders.

In each company profile, impact of COVID-19 on its respective business and steps taken by manufacturers to sustain their position in the market are analyzed.

The report provides insights on the following pointers:
• Industry impact: impact of COVID-19 on end-use industries of lubricants
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for lubricants across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global lubricants market

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on