Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Aviation Lubricants Market size was over USD 843.57 million in 2023 and is poised to exceed USD 1.84 billion by 2036, witnessing over 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aviation lubricants is estimated at USD 885.41 million.

The extensive spread will intensely harm the market as compared to the limited spread case. Airlines being side-lined and not in use has negatively affected the lubricant industry as well. The aviation lubricant market is a supporting market for the aviation industry. Hence, the direct impact can be seen on the lubricant market. The market will pick up the pace after the pandemic gets over, but in the present year, the market is not doing well.

Aviation Lubricants Sector: Growth Drivers and Challenges

Growth Drivers

Increasing Passenger Traffic Across The Globe
The aviation lubricants market was growing as the passenger traffic was increasing, but currently the industry is at a halt due to COVID- 19. Once the pandemic is over, an increase in the aviation business is anticipated and that is predicted to boost the aviation lubricants market as well. The demand for imports and exports will rise in the future, which are further anticipated to aid in the market growth.
Opportunities
The aviation lubricants market keeps on evolving as new needs arise as a result of the advancements in aircrafts and their models. This acts as an opportunity for the lubricant market to innovate and provide advanced lubricants to cater to the problems that the engines face, for instance, the heating up of engines. The market is fragmented as different lubricants are required for different engine types. Hence, the market has a lot of potential to expand and grow.

Challenges

As the aviation industry is presently at a halt due to lockdowns and ban on imports and exports, the supporting markets such as aviation lubricants market are also facing the harsh effects. If the pandemic lasts longer than it is anticipated, the market is predicted to face huge losses.

Aviation Lubricants Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	6.2%
Base Year Market Size (2023)	USD 843.57 million
Forecast Year Market Size (2036)	USD 1.84 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Aviation Lubricants Segmentation

The aviation lubricant market is segmented by lubricant type, by aviation type, by technology, by application, by end- user, and by region. By aviation type, the market is segmented into general aviation, commercial aviation, military aviation and helicopters, out of which, the segment for commercial aviation is anticipated to hold the leading market share on account of high number of commercial flights operating daily globally for transporting passengers as well as cargo.

Our in-depth analysis of the global market includes the following segments

By Lubricant Type	Engine oil Grease Hydraulic fluids Additives and special lubricants
By Aviation Type	General Aviation Military Aviation Commercial Aviation Helicopters
By Technology	Synthetic Mineral-based
By Application	Hydraulic systems Landing gear Airframe Engine
By End User	OEM (Original Equipment Manufacturers) MRO (Maintenance, Repair, and Overhaul)

Aviation Lubricants Industry - Regional Synopsis

On the basis of region-wise analysis, the aviation lubricants market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is likely to dominate majority revenue share by 2036, as the region keeps on upgrading the aircraft for military and commercial use. After North America, the aviation lubricant market is estimated to witness significant growth in the Asia Pacific region as the air traffic in the countries located in this region is rising. The imports and export activities also contribute to increasing cargo airplane demand which in turn increase the demand for lubricants.

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Companies Dominating the Aviation Lubricants Landscape

Exxon Mobil Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Royal Dutch Shell plc
Eastman Chemical Company
The Phillips 66 Company
NYCO
Total S.A.
BP plc

In the News

March 23, 2020: In the wake of COVID- 19, Royal Dutch Shell plc reduced its underlying operating costs by US$ 3-4 billion per annum as compared to that of 2019, further, the cash capital expenditure further reduced to US$ 20 billion or below for 2020 which was US$ 25 billion earlier.
March 24, 2020: Phillips 66 announced the reduction of the consolidated capital spending for the year 2020 by US$ 700 million, which stands to US$ 3.1 billion now. Also, operating and administrative cost reduced by US$ 500 million.