Dublin, May 06, 2020 (GLOBE NEWSWIRE) -- The "COVID-19 Impact on Lubricants Market by Product type (Engine Oil, Hydraulic Oil, Compressor Oil, Metalworking Fluid, Gear Oil, Turbine Oil and Grease), End-use Industry and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.

Global lubricants market is forecasted to recover in 2021 after negative impact to COVID-19

The decline in the global lubricants 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 periods to prevent the spread of the virus, leading to the 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.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Region Covered
1.4 Years Considered for the Study
1.5 Currency
1.6 Unit Considered
1.7 Limitations
1.8 Stakeholders

2 Research Methodology
2.1 Critical Covid-19 Factors Impacting the Lubricants Market in 2020
2.2 Research Methodology: Transport Segment Analysis for North America in 2020
2.3 Product Type Segment Analysis for North America in 2020
2.4 Lubricants Market Projections Based on Driving Factors and Covid-19 Impact
2.5 Primary Data
2.5.1 Breakdown of Primary Interviews
2.5.2 Key Industry Insights

3 Covid-19 Assessment
3.1 Covid-19 Health Assessment
3.2 Covid-19 Economic Assessment
3.2.1 Covid-19 Economic Impact - Scenario Assessment

4 Impact of Covid-19 on Lubricants Ecosystem
4.1 Value Chain of Lubricants Industry
4.2 Key Takeaways
4.2.1 Impact on Transportation
4.2.2 Impact on Industrial Applications
4.3 Factors Driving the Growth
4.3.1 Covid-19 Impact: Factors Driving the Growth
4.3.1.1 Emission Limits and Fuel Economy Requirements to Drive the Demand for Lubricants in Emerging Markets Such As China and India After Covid-19
4.3.1.2 Growth in Demand for Biocompatible Silicone-Grade Lubricants for Medical Devices
4.3.1.3 Lower Crude Oil Prices will Benefit Lubricants Suppliers After Covid-19
4.3.1.4 Demand for Renewable Energy and Power Generation to Positively Impact the Lubricants Market

5 Impact of Covid-19 on Lubricants Market, Customer Analysis
5.1 Customers
5.1.1 Disruption in the Automotive Industry
5.1.1.1 Impact on Customers' Output & Strategies to Resume/Improve Production
5.1.1.2 Customer'S most Impacted Regions
5.1.1.3 Risk Assessment and Opportunities
5.1.1.4 Viewpoint on Growth Outlook and New Market Opportunities
5.1.2 Disruption in Metal & Mining Industry
5.1.2.1 Impact on Customers' Output & Strategies to Resume/Improve Production
5.1.2.2 Customer'S most Impacted Regions
5.1.2.3 Risk Assessment and Opportunities
5.1.2.4 Viewpoint on Growth Outlook and New Market Opportunities
5.1.3 Disruption in the Construction Industry
5.1.3.1 Impact in Customers' Output & Strategies to Resume/Improve Production
5.1.3.2 Customer'S most Impacted Regions
5.1.3.3 Viewpoint on Growth Outlook and New Market Opportunities
5.1.4 Disruption in the Oil & Gas Industry
5.1.4.1 Impact on Customers' Output & Strategies to Resume/Improve Production
5.1.4.2 Customer'S most Impacted Regions
5.1.4.3 Viewpoint on Growth Outlook and New Market Opportunities

6 Covid-19 Impact: Short-Term Strategies of Lubricant Companies
6.1 Impact on Lubricant Companies
6.1.1 Royal Dutch Shell Plc.
6.1.1.1 Business Overview
6.1.1.2 Products Offered
6.1.1.3 Impact of Covid-19
6.1.2 Exxonmobil Corporation
6.1.3 Chevron Corporation
6.1.4 Bp Plc
6.1.5 Total S.A.
6.1.6 Petrochina Company Limited
6.1.7 Sinopec Limited
6.1.8 Jxtg Group
6.1.9 Petronas
6.1.10 Pertamina
6.1.11 Gazprom Neft
6.1.12 Repsol Sa
6.1.13 Phillips 66
6.1.14 Petrobras
6.1.15 Indian Oil Corporation Limited (Iocl)
6.2 Winning Strategies to Overcome the Situation
6.2.1 Strategies Adopted by Stakeholders
6.3 Viewpoint on Strategies to Overcome the Situation

7 Impact of Covid-19 on Lubricants Market, by Product Type
7.1 Introduction
7.2 Engine Oil
7.3 Hydraulic Oil
7.4 Metalworking Fluid
7.5 Gear Oil
7.6 Compressor Oil
7.7 Grease
7.8 Turbine Oil
7.9 Others

8 Impact of Covid-19 on Lubricant Market, by End-Use Industry
8.1 Introduction
8.2 Transportation
8.2.1 Commercial Vehicle
8.2.2 Passenger Vehicle
8.2.3 Aviation
8.2.4 Marine
8.2.5 Railway
8.3 Industrial
8.3.1 Construction
8.3.2 Metal & Mining
8.3.3 Cement Production
8.3.4 Power Generation
8.3.5 Automotive Manufacturing
8.3.6 Chemical
8.3.7 Oil & Gas
8.3.8 Textile
8.3.9 Food Processing
8.3.10 Others

9 Impact of Covid-19 on Lubricants Market, by Region
9.1 Introduction
9.2 APAC
9.3 North America
9.4 Europe
9.5 Middle East & Africa
9.6 South America

10 Appendix

Companies Mentioned

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