What Industry Dominates Lubricant Consumption?
Automotive lubricants dominate the global lube consumption. Automotive lubricants accounts ~ 55% of the global lubricants market and the demand for high-quality lube is expected to create significant opportunities over the long-term forecast period. In terms of consumption, over 60 percent of the energy is consumed in the vehicle through the engine components. So improvements in automotive lubricants is the ideal place to optimize the performance of engines. High-performance automotive lubricants constitute excellent solvency and better hydrophilic properties. Application of these automotive lubricants leads to durable operation of the engine through lighter viscosity grades of high-performance lubricants. Additionally, less viscous and premium synthetics lubricants also increase the fuel economy of engines to a greater extent. In recent years, nano-lubricants have been an advanced development in the market of automotive lubricants, created by adding nanoparticles to lube oils. Adding ...