Aerospace Lubricant Market Segmentation and Major key Players Analysis by 2022

Rising number of trade activities in Asia Pacific and Middle East region has resulted in need for expansion of aviation capacity further driving lubricant demand. The Global Aerospace Lubricant Market is expected to reach USD 998.1 million by 2022, according to a new report by Grand View Research, Inc.

Fuel economy improvement, supportive regulatory policies and fuel emission norms have been creating additional demand for lubricant. At the same, these factors have also been pushing producers to invest in R&D and formulate usage specific products with higher serviceability and viscosity.

Increasing air passenger traffic as a result of rapidly developing civil aviation sectors in high growth Asian markets coupled with reduced airfares as a result of high competition from aviation companies is a key factor driving aircraft utilizations and miles. This is further expected to complement the global industry growth.

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Gas turbine oil was the leading product segment and accounted for 45.0% of total market volume in 2014. High oxidative stability, water contamination resistance, and reduction of downtime are factors that are driving base oil development to meet increasing aircraft specifications.

Top Players of Aerospace Lubricant Market:

Key companies in the industry include Exxon Mobil, Shell, British Petroleum, Total Lubricant, Chevron Corporation, Fuchs Group, Phillips 66, Castrol, Sinopec, Petrobras, Quaker Chemical Corporation and Aerospace Lubricant, Inc.

Market Segmentation of Aerospace Lubricant Market:

The Global Aerospace Lubricant Market segmented on the basis of Product, End-Use and Regions.

By Product:

    Gas Turbine Oil
    Piston Engine Oil
    Hydraulic Fluid

By End Use:

    Civil
    Defense
    Space

By Region:

    North America
    Europe
    Asia Pacific
    Latin America
    MEA

Inquire about Aerospace Lubricant Market with Our Experts @ https://www.grandviewresearch.com/inquiry/2869

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