Japan Lubricants Market to Grow at 1.8% During 2024-2032, Impelled by the Growing Automotive Sector

December 18, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Japan Lubricants Market Report by Product Type (Engine Oils, Greases, Hydraulic Fluids, Metalworking Fluids, Transmission and Gear Oils, and Others), End User (Automotive, Heavy Equipment, Metallurgy and Metalworking, Power Generation, and Others), and Region 2024-2032”, the Japan lubricants market is expected to exhibit a CAGR of 1.8% during 2024-2032. Lubricants refer to fluids, greases, or oils that prevent wear and tear of mechanical components, ensuring smooth and efficient operation. They are made from a base oil combined with various additives to enhance performance. Lubricants are available in various types, such as engine oils, gear oils, hydraulic fluids, cutting fluids, greases, and transformer oils. They exhibit distinct properties like thermal stability, viscosity, corrosion resistance, and oxidation stability. Lubricants find applications in numerous industries, including automotive, aerospace, manufacturing, marine, power generation, and construction. They aid in reducing friction and wear in machinery, improving energy efficiency, enhancing heat dissipation, extending the lifespan of mechanical components, and reducing maintenance costs. Moreover, lubricants are known for their environmental friendliness, operational effectiveness under extreme conditions, improved fuel efficiency, and alignment with sustainability goals.

Japan Lubricants Market Trends:

The expanding automotive industry in the country, necessitating the need for high-quality lubricants for optimal performance and longevity of vehicles, is one of the major factors boosting the market growth. Along with this, the rising focus on energy-efficient and low-emission vehicles, encouraging the demand for high-performance lubricants that can reduce friction and wear while enhancing fuel efficiency, is providing a thrust to the market growth. Besides this, the growing emphasis on precision engineering and advanced manufacturing techniques in the industrial sector, requiring specialized fluids to ensure reliability and efficiency, is positively impacting the market growth. Moreover, the increasing industrial automation in Japan, accentuating the need for high-quality lubricants that can withstand continuous and high-speed operations, is creating a positive outlook for the market growth. Besides this, the growing utilization of lubricants in the maritime sector that can endure harsh marine environments while meeting stringent environmental regulations is propelling the market growth. In line with this, the sudden shift towards more sustainable shipping practices leading to an increased demand for biodegradable and environmentally friendly marine lubricants is supporting the market growth. Additionally, the rising focus on renewable energy and energy efficiency, prompting product adoption in wind turbines and other renewable energy equipment, is providing a thrust to the market growth. Furthermore, the development and adoption of advanced additives and base oils that enhance the performance and lifespan of lubricants are acting as growth-inducing factors. Moreover, the integration of digital technologies in lubricant management, such as condition monitoring and predictive maintenance, to enable more efficient use of lubricants and optimize maintenance schedules is driving the market growth.

Market Summary:

Based on the product type, the market has been divided into engine oils, greases, hydraulic fluids, metalworking fluids, transmission and gear oils, and others.
On the basis of the end user, the market has been classified into automotive, heavy equipment, metallurgy and metalworking, power generation, and others.
Region-wise, the market has been segmented into the Kanto Region, Kansai/Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, and Shikoku Region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Product Type End User Region
Product Types Covered	Engine Oils, Greases, Hydraulic Fluids, Metalworking Fluids, Transmission and Gear Oils, Others
End Users Covered	Automotive, Heavy Equipment, Metallurgy and Metalworking, Power Generation, Others
Regions Covered	Kanto Region, Kansai/Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, Shikoku Region
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
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Japan Lubricants Market to Grow at 1.8% During 2024-2032, Impelled by the Growing Automotive Sector

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