Global Oil & Gas Lubricants Market- Market Analysis by Geography, by Product Type (Greases and Coolants/Anti-Freezers) and by Application (Onshore and Offshore), Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 135 | Published By - Mordor Intelligence

Report Highlights

Primary function of lubricants is to reduce friction between moving parts but in general it is also applied to chemicals that act as a coolant or anti-freezer. Exploration and production activities in Oil & Gas sector involves heavy machinery which require lubrication from time to time. Much of the E&P is done in offshore, where harsh conditions (high saline content and extreme temperature and pressures) pose a severe risk to the equipment. Moreover, twenty five percent of worlds oil & gas reserves are in deep waters where temperature at the seabed are sub-zero and have a tremendous amount of pressure. Anti-freezers are used in this context so that extracted oil or gas dont solidify and block the pipeline.

With increase in demand for energy and petrochemicals coupled with penetration of oil & gas exploration activities into deep waters are driving the lubrication market for oil & gas sector. Burgeoning shale business in North America also played an important role in spurring this market. However, falling crude oil prices has resulted in significant decrease of oil rigs throughout the world. As a result, Oil & Gas Lubricants market is expected to plateau in near future but is expected to grow robustly in long term.

North America and North Sea regions are estimated to lucrative market in this segment because of their growing shale business and offshore activities respectively. Asia Pacific regions market share globally is expected to increase at a rapid rate as a result of expanding business and interests of China and Indias national oil companies. In South America, Brazil presents a decent market opportunity.

This report comprehensively analyzes the Oil & Gas Lubricants market by segmenting it based on geography, product type (Greases and Coolants/Anti-Freezers) and application (onshore and offshore). Estimates in each segment are provided for the next six years. Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.  
 

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