Australia Lubricants Market Overview
According to SPER Market Research, the Australia Lubricants Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
The industry that produces, distributes, and sells lubricating oils, greases, and other related goods is known as the lubricants market. Lubricants are used to extend the life and efficiency of machinery by reducing friction and wear between moving parts. The economy of Australia is significantly impacted by the lubricants market, which is supported by a number of end-use sectors including the automobile, mining, marine, aviation, and manufacturing. In Australia, the greatest lubricant user is the automobile sector. With more cars on the road and consumers becoming more aware of the value of regular vehicle maintenance, there is an increase in demand for automotive lubricants.
Environmentally friendly lubricants, such as synthetic and bio-based lubricants, which offer superior performance and have a smaller negative impact on the environment, are also becoming more and more popular on the market. These goods are becoming more and more well-liked by consumers and are anticipated to fuel market expansion in the upcoming years. In conclusion, numerous end-use industries like the automotive, mining, and manufacturing sectors drive the Australian lubricants market, which is a significant part of the nation's economy. Major firms invest heavily in R&D to enhance the functionality and effectiveness of their goods in this fiercely competitive market. In the upcoming years, market expansion is anticipated to be fuelled by the growing trend towards eco-friendly lubricants.
Impact of COVID-19 on the Australia Lubricants Market
The COVID-19 epidemic had a substantial effect on the Australian lubricants sector. Due to diminished industrial activity and transportation restrictions brought on by the epidemic, the demand for lubricants fell precipitously. The closure of businesses in the mining, building, and manufacturing sectors lowered their need for lubricants. The pandemic had a significant influence on the automobile industry as well since fewer people were buying new cars and travelling less, which resulted in less demand for lubricants for cars. The epidemic also caused delays in the delivery of raw materials and completed goods, causing the supply chain for lubricants to be affected. This had an effect on the manufacture and distribution of lubricants by causing supply chain interruptions and rising raw material prices.
The Job Keeper initiative, among other measures taken by the Australian government to assist businesses and boost the economy, assisted in reducing the pandemic's negative effects on the lubricants industry. There was a rise in demand for lubricants as a result of the removal of restrictions and the gradual restart of industrial activities. Nevertheless, despite the major effects of the COVID-19 pandemic on the Australian lubricants market, the market has proven resilient and is anticipated to rebound as companies restart their operations and the economy keeps growing.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type of Lubricant, By Grade of Lubricant.
|
| Regions covered | New South Wales, Northern Territory, Queensland, South Australia, Tasmania, Victoria & Western Australia.
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| Companies Covered | Ampol, BP Australia, Caltex, ExxonMobil, Fuchs Lubricants (Australasia) Ltd, Penrite, Phoenix Lubricant Ltd, Puma, TOTAL Oil Australia Ltd, Viva Energy Holding.
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Key Target Audience
- Infrastructure and Real Estate Companies
- Mining Companies
- Government Entities
- Construction Companies
- Oil and Gas Companies
- Automotive lubricants manufacturers and other stakeholders
- Automotive OEMs
Australia Lubricants Market Segmentation:
1. By Type of Lubricant:
- Automotive Lubricant
- Industrial Lubricant
2. By Grade of Lubricant:
- Mineral
- Semi-Synthetic
- Synthetic
3. By Region:
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
Key Topics Covered in the Report:
- Australia Lubricants Market Size (FY’2019-FY’2032)
- Overview of Australia Lubricants Market
- Segmentation of Australia Lubricants Market By Type of Lubricant (Automotive Lubricant, Industrial Lubricant)
- Segmentation of Australia Lubricants Market By Grade of Lubricant (Mineral, Semi-Synthetic, Synthetic)
- Statistical Snap of Australia Lubricants Market
- Growth Analysis of Australia Lubricants Market
- Problems and Challenges in Australia Lubricants Market
- Competitive Landscape in the Australia Lubricants Market
- Impact of COVID-19 and Demonetization on Australia Lubricants Market
- Details on Recent Investment in Australia Lubricants Market
- Competitive Analysis of Australia Lubricants Market
- Key Players in the Australia Lubricants Market
- SWOT Analysis of Australia Lubricants Market
- Australia Lubricants Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst