SHERIDAN, WYOMING, UNITED STATES, Sept. 26, 2022 /EINPresswire.com/ — The latest report published by IMARC Group, titled “Aerospace Lubricants Market: Industry Trends, Share, Size, Growth, Opportunities and Forecasts 2022-2027” provides a comprehensive Industry analysis that includes insights into the Aviation Lubricants market. The report also includes competitive and regional analysis along with recent advances in the market.
Aviation Lubricants Market Overview:
The global aviation lubricants market reached US$1.95 billion in 2021. Due to the above factors, the market is expected to reach $2.86 billion by 2027 and will grow at a CAGR of 6.99% between 2022 and 2027. Aviation lubricants are a set of liquids, oils and lubricating substances designed to lubricate various moving parts of the engine, including the camshaft, piston rings, cylinder walls and bearings associated with propulsion systems. They help reduce friction between surfaces while functioning in different temperature ranges. This, in turn, allows for better movement between metal parts, improves an aircraft’s energy efficiency, reduces wear and tear, and ensures safer operations. Aside from that, aerospace lubricants are used extensively to transmit power, prevent deposit formation, heat and cool surfaces, and protect several engine parts from corrosion. Based on these properties, aviation lubricants are used by Original Equipment Manufacturers (OEM) and Maintenance, Repair and Operations (MRO) organizations to streamline workflow and maintain aircraft health.
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Global Aviation Lubricants Market Trends:
The significant expansion in the aviation industry along with the increasing number of airline passengers and air travel due to the availability of affordable airline tickets and better connectivity from airports are some of the key factors currently driving the growth of the aviation lubricants market. In line with this, increasing environmental concerns have prompted governments of various countries to take green initiatives to encourage the adoption of renewable aviation lubricants, including bio-based oils, to eliminate the hazardous environmental impacts caused by conventional fuels. This in turn acts as another growth-promoting factor. Furthermore, the increasing demand for light weight and low density lubricants contributes to the market growth due to their various beneficial properties. They help reduce aircraft weight to improve fuel efficiency and provide adequate mechanical power transmission. Other factors, such as the rapid construction of airports, particularly in developing countries, growing passenger traffic and strategic collaborations between Original Equipment Manufacturers (OEMs) to introduce synthetic lubricants with better thermal stability and performance in extreme weather conditions, all provide a positive outlook for the market.
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As the novel coronavirus (COVID-19) crisis sweeps the world, we continuously monitor the changes in the markets as well as the industry behavior of consumers worldwide and our estimates on the latest market trends and forecasts are made after considering the impact of this pandemic.
Report Scope of Aerospace Lubricants Market
Details on reporting features
Base year of analysis 2021
Historical period 2016-2021
Forecast period 2022-2027
Units billion dollars
Segment Coverage Type, Technology, Platform, End User, Region
Aerospace Lubricants Inc.
Eastman Chemical Company
Whitmore Manufacturing LLC
NYE Lubricants Inc
(Fuchs Petrolub SE)
Rocol (Illinois Tool Works Inc.)
Royal Dutch Shell plc
Tecsia Lubricants Pte Ltd
The Chemours company.
Key Market Segmentation:
Breakdown by type:
Special lubricants and additives
Separation by technology:
Breakdown by platform:
Business and General Aviation
Separation by end users:
Breakdown by region:
Middle East and Africa
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Key highlights of the report:
Market performance (2016-2021)
Market Outlook (2022-2027)
Market drivers and success factors
Effects of COVID-19
Analysis of the value chain
Comprehensive mapping of the competitive landscape
If you require specific information that is not currently in the scope of the report, we will provide it as part of the customization.
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