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The data and information collected to form this Global Aerospace Lubricant Market report is usually quite a lot and is also in a complex form which is simplified by the experts for end users. While preparing this Global Aerospace Lubricant Market report, detailed market analysis has been performed with inputs from industry experts. In addition, market share analysis as well as key trend analysis is the key accomplishing factors in this market report. With this Global Aerospace Lubricant Market report, business can effectively gain a holistic view of the market and then also benchmark all the companies in the Aerospace Lubricant industry. This Global Aerospace Lubricant Market research analysis brings into light a vast market place.
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Market Definition: Global Aerospace Lubricant Market
Aerospace lubricants are the compounds that are used for enhancement of performance of aviation vehicles and a wide variety of aircrafts. These lubricants have the capability to reduce the friction levels between two surfaces resulting in smoother operating equipment. They also provide various other benefits such as rust-free, corrosion-free, sealant functions, coolant properties among various others.
Market Analysis: Global Aerospace Lubricant Market
Global aerospace lubricant market is expected to register a steady CAGR of 4.58% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the various benefits offered by these lubricants on the performance of the aircraft.
- High levels of investments undertaken by the authorities on expansion of their space projects is expected to boost the growth of the market
- Enhanced levels of expenditure incurred by various market players on research & development to enhance the quality and innovations in product range
- High spending being incurred for revamping the military aviation capabilities by various governments and authorities acts as a market driver
- Increasing volume of passengers and aviation traffic will also augment the market growth in the forecast period
- Increasing preference of consumers and end-users on the consumption of bio-based lubricants offering; this factor is expected to hinder the growth of the market
- Availability of various strict regulations and compliances regarding the emissions of VOCs during the production of lubricants will also restrict this market growth
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Key Developments in the Market:
- In August 2019, BP p.l.c. announced that they had entered into a joint venture with Reliance Industries Limited for the provision of retail service station network as well as aviation fuel operations throughout the Indian region. The joint venture will distribute the products manufactured from Castrol India Limited
- In December 2017, LANXESS announced that they had received the certification of Commercial Aircraft Corporation of China, Ltd. for their aviation-based chemical products and support services. LANXESS’s ‘Royco’ lubricant product range has been standardized by the authority helping enhance the levels of adoption from the various consumers present in the region
Global aerospace lubricant market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aerospace lubricant market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global aerospace lubricant market are BP p.l.c.; Royal Dutch Shell; Quaker Chemical Corporation d/b/a Quaker Houghton; FUCHS; Chevron Corporation; Exxon Mobil Corporation; Phillips 66 COMPANY; Petrobras; Aerospace Lubricants, Inc.; Total; China Petroleum & Chemical Corporation; The Chemours Company; Inox Lubricants; ROCOL; Whitmore Manufacturing LLC; Eastman Chemical Company; NYCO; LANXESS among others.
Segmentation: Global Aerospace Lubricant Market
- Special Additives & Lubricants
- Gas Turbine Oil
- Piston Engine Oil
- Hydraulic Fluid
- Group I (Simple Refining Process)
- Group II (Hydrotreated)
- Group III (Hydrocracked)
- Group IV (Synthesizing Process)
By Material Type
- Landing Gear
- Hydraulic System
- Air Frames
- Business Aviation
- Commercial Aviation
- General Aviation
- Original Equipment Manufacturers (OEMs)
- Maintenance, Repair & Operations (MROs)
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