The "Aviation Lubricants Market by Type (Hydraulic Fluid, Engine Oil, Grease, Special Lubricants & Additives), End User (OEM, Aftermarket), Technology (Mineral-Based, Synthetic), Application, Platform, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global aviation lubricants market size is projected to grow from an estimated USD 2.0 billion in 2020 to USD 2.9 billion by 2025, at a CAGR of 7.2% during the forecast period.
The COVID-19 has taken a colossal toll on the world's economic activity with individuals, organizations, governments, and businesses having to adapt to the challenges of the crisis. Air travel restrictions across various regions for both domestic and international flights have led to inactive fleets across the globe. Like many other sectors, the aviation lubricants market is also heavily impacted by the COVID-19 pandemic.
The two major factors which led to the decline in the lubricants market was the sudden drop in crude oil prices impacting the overall supply chain of the petroleum products and the decline in demand for aviation consumables such as lubricants and jet fuel due to temporary restrictions on air travel across the globe. Various stakeholders such as raw material providers, lubricant manufacturers, government agencies, lubricant suppliers, distributors, retailers, aircraft & engine manufacturers, and MRO companies are impacted significantly due to the slowdown of transportation, border closures, and increase in the number of inactive fleets.
Based on the end-user, the aftermarket segment is estimated to lead the aviation lubricants market in 2020
Based on end user type, the aviation lubricants market is segmented into OEM and Aftermarket. The aftermarket segment is estimated to account for a larger share of the overall market in 2020. Lubricants are replenished frequently, depending on the operating hours of the aircraft. The growth of this segment can be attributed to the increase in the aircraft fleet of emerging economies in the commercial and military aviation sectors. 2020. Lubricants are replenished frequently, depending on the operating hours of the aircraft.
Based on the platform, the commercial aviation segment is projected to grow at the highest CAGR during the forecast period
Based on the platform, the aviation lubricants market is segmented into commercial aviation, military aviation, and business & general aviation. The commercial aviation segment of the aviation lubricants market is projected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the increasing number of aircraft orders for military aviation globally.
Based on application, the engine segment of the aviation lubricants market is estimated to account for the largest share in 2020
Based on the application, the aviation lubricants market is segmented into engines, hydraulic systems, landing gear, airframe, and others. The engine segment is estimated to account for the largest share in 2020. The demand for advanced engine oils is increasing in this application as powerful and advanced turbofan engines are being introduced in the market.
North America is estimated to lead the aviation lubricants market in 2020, and Asia Pacific is projected to grow at the highest CAGR during the forecast period.
North America is estimated to lead the aviation lubricants market in 2020. Major aircraft and aircraft engine manufacturers, such as Boeing (US) and Pratt and Whitney (US), are present in the region and thus generate high demand for aviation lubricants. North America is projected to lead the aviation lubricants market during the forecast period as the region has the largest military and commercial aircraft fleet in the world. The aviation lubricants market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, owing to the increasing demand for air travel and growing fleets in the region. The growth in air passenger traffic in the Asia Pacific has resulted in increased demand for new aircraft, which is boosting the growth of the Asia Pacific aviation lubricants market.
- Large, Existing and Growing Commercial and Military Aviation Fleet
- Increased Complexity of Aircraft Engines Necessitates Proper Lubrication
- Increased Consumption of Synthetic Lubricants
- Contamination of Lubricating Oils
- Increasing Demand for Low Density Lubricants for Reduced Weight
- Increasing Demand for Environmentally Safe Lubricants
- Operating Capability of Lubricants Under Extreme Conditions
- Thermal and Oxidative Stress on Oil
- Stringent Regulatory Norms
- Cancellations and Delaying Orders from End-users Due to Covid-19
- The Chemours Company
- Royal Dutch Shell
- Phillips 66
- Candan Industries
- Nye Lubricants, Inc.
- Eastman Chemical Company
- Aerospace Lubricants, Inc.
- Everlube Products
- National Process Industries, Inc.
- Tiodize Co. Inc.
- Mcgee Industries, Inc.
- Las Aerospace Ltd
- Tecsia Lubricants
- Apar Lubricants Ltd
- Ascend Aviation India
- Avi-Oil India [P] Ltd.
- Petro Lubes Inc.
- Lubrication Limited
- Avia Prom Solutions Pvt Ltd.
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