The
global aerospace lubricant market is expected to reach USD 998.1 million by
2022, according to a new report by. 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.
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.
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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.
Table of Contents
Chapter
1 Methodology and Scope
1.1 Research methodology
1.2 Research scope and
assumptions
1.3 List of data sources
Chapter 2 Executive Summary
2.1 Aerospace Lubricant-
Industry Summary & Key Buying Criteria, 2012 - 2022
Chapter 3 Aerospace LubricantIndustry
Outlook
3.1 Market segmentation
3.2 Market size and growth
prospects, 2012 - 2012
3.3 Aerospace lubricant value
chain analysis
3.3.1 Vendor landscape
3.4 Aerospace lubricant
market dynamics
3.4.1 Market driver
analysis
3.4.1.1 Increasing
air passenger traffic
3.4.1.2 Rising
defense expenditure
3.4.2 Market restraint analysis
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