Lubricants and Greases Market Procurement Intelligence Report

Lubricants and Greases Market Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 - 2027

  • Published Date: ---
  • Base Year for Estimate: 2020
  • Report ID: GVR-P-UC-027
  • Format: Electronic (PDF)
  • Historical Data: 2018-2019
  • Number of Pages: 0

Procurement Outlook

Supply chain challenges caused by the COVID-19 pandemic have underlined the importance of the partnerships between distributors, lubricant manufacturers, and raw material suppliers. The pandemic has disrupted the global supply chain, eventually leading to longer lead times for raw materials due to shortages in the industry. A shortage of truck drivers has also resulted in difficulty delivering finished lubricants.

Procurement specialists consider five key categories for evaluating lubricant suppliers:

  • Application Expertise

  • Diverse Chemistry

  • Supply Reliability

  • Risk Abatement

  • Ability to Serve

Identification of strengths and weaknesses are crucial while considering the success of OEMs, distribution channel partners, and end-users. The engagement model between the client and supplier must be selected based on their unique criteria to ensure supply reliability and adequate support.

Demand Outlook

The global lubricants market size was valued at USD 125.81 billion in 2020 and is expected to grow at a CAGR of 3.7% from 2021 to 2027. The growing manufacturing of vehicles and their spare parts is expected to fuel the demand for automotive oils and greases. Asia Pacific is the largest market for lubricants. Prominent trends that the market is witnessing include the evolution of bio-based lubricants, the improvement of low-viscosity lubricants to fit present machinery, demand for polyamide resins in industrial applications, and growth opportunities/investment opportunities

Lubricant prices and availability are highly driven by the lubricant stock (base oil) in the region. The US and Europe have shifted their base oil stock to Group 2 and Group 3 stocks respectively, while Asian and LATAM markets continue using Group 1 and Group 3 stocks.

Cost Drivers

The increasing demand for high-performance lubricants is expected to fuel the growth for premium products, owing to better and improved properties, such as reduction inflammability, wear and tear reduction in gear mechanism, and improved service life. High-performance lubricants are designed for high and low temperatures, dusty, damp, or otherwise exceptional environment, but they also help to optimize the maintenance and servicing cycle of the equipment by using the best-suited oils and greases, resulting in cost- effective manufacturing process.


Selecting an accurate supplier is a cumbersome task that has the best products for all applications required by the client. Consistent testing may be required before specific products are deemed equivalent or suitable. It is not sufficient for lubricants that are mixed or substituted to be viewed as equivalent and compatible. In some cases, the lubricants should have original equipment manufacturer (OEM) approval. For pumps and motors, these requirements are often general, however, they are specific for gas turbines.

Supply Chain

The key supplier for lubricants and greases are ExxonMobil Corp., Pennzoil, Quaker Chemical Corp., Royal Dutch Shell Co., JX Nippon Oil & Energy Corp., British Petroleum, Lukoil, Total S.A, Chevron Corp., Philips 66 Company, Sinopec Corp, Repsol.

The lubricant market features a consolidated competitive landscape with top 10 suppliers having more than 50% market share. In 2020, Repsol, a Spanish energy and petrochemical company entered into a partnership with Honda Motorcycle & Scooter India Pct. Ltd. to launch a co-branded engine oil for the Indian market. Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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