Global Aviation Lubricants Market Share, Trends And Key Players Insights Till 2031

(MENAFN- Straits Research) market Dynamics
In aircraft, lubricants are used to reduce the amount of friction and wear between two moving parts or surfaces. Lubricants in Aviation prevent rust and corrosion on various aircraft components, including engines, hydraulic systems, landing gears, and airframes. In addition, the type of aircraft influences the quality, kind, and grade of utilized lubricants. Lubrication is essential to the safe running of any aircraft and must be periodically replaced as part of routine maintenance. In addition, lubricants allow aircraft to operate at peak performance and efficiency.
Several factors are driving the growth of the aviation lubricants market, including an increase in the number of airports, the number of airline passengers, discretionary income, and synthetic lubricant usage. However, lubricant contamination hampers market expansion. In addition, the demand for low-density lubricants to reduce aircraft weight and the development of environmentally friendly and safe aviation lubricants present lucrative market opportunities.
The Increasing Number of Airline Passengers, along with an Increase in Disposable Income and Increased Synthetic Lubricants Consumption, Drive the Global Aviation Lubricants Market
Air travel is the most popular option for travelers around the globe since it is the safest, fastest, and most dependable mode of transportation compared to other conventional transportation methods such as road and sea travel. This makes air travel more reliable than different modes of transport and gives passengers a pleasant experience during flight. Due to the rise in discretionary income, customers select air travel despite its high cost. Moreover, according to the International Civil Aviation Organization (ICAO), airlines transported 4.3 billion people in 2018. In addition, the number of airline passengers is projected to exceed 10 billion by 2040, necessitating more planes to transport people. This will undoubtedly expand the number of aircraft fleets and the frequency of flights, both of which require frequent maintenance services. This would promote the expansion of the global market for aviation lubricants.
Due to the thermal stability, improved energy efficiency, superior performance in hostile environments, and resistance to oxidation of synthetic lubricants, the worldwide aviation lubricants market have been increasing rapidly. In addition, synthetic lubricants provide superior resistance to the frictional wear of expensive aircraft components and longer lubricant service life, all of which contribute to the growth of the worldwide aviation lubricants market.
The Increasing Demand for Low-Density Lubricants to Create Global Aviation Lubricants Market Opportunities
Weight is critical for airlines because it directly impacts aircraft stability and performance. Constantly attempting to reduce an aircraft's total weight, aircraft builders select materials and components that are both lightweight and sturdy. Lubricants also have an impact on aircraft weight. Consequently, aircraft manufacturers' demand for low-density lubricants has increased, which adds to further weight reduction. In turn, this improves the performance of an aircraft, which is anticipated to create growth opportunities for key players operating in the global aviation lubricants market.
Regional Insights
The Asia Pacific will command the market with the largest share while expanding at a CAGR of 5%. Asia-Pacific has undergone a tremendous increase in air traffic, which has increased the demand for new airports and the modernization of existing airports. In addition, most of the region's governments now allow domestic flights, fueling the growth of the aviation lubricants market. In addition, the increase in air passenger traffic has resulted in the entry of new enterprises, which has contributed to a rise in the number of aircraft deployments, which is anticipated to stimulate the aviation lubricants market in this region. As passenger and freight aircraft traffic increases, the Asia-Pacific aviation lubricants market is expected to grow the most. According to the International Civil Aviation Organization, Asia-Pacific has emerged as one of the world's leading air traffic hubs.
North America will advance at a CAGR of 6.1% and hold USD 840 million. Compared to Canada and Mexico, the United States dominates the aviation lubricants business in the area, as it has the most aircraft. Nevertheless, Mexico is likely to grow at a more significant CAGR throughout the forecast period due to a growth in aircraft demand and air passengers. In addition, airlines in this region launch new routes each year, contributing to the region's expanding connectivity. Additionally, the air transport industry supports 8.8 million North American jobs. In addition, air travel contributes around USD 1.1 trillion to the North American economy. These factors contribute to the growth of the North American market for aviation lubricants.
Key Highlights

The global aviation lubricants market had a revenue share of USD 1,946 million in 2021, envisioned to reach USD 3,221 million, expanding at a CAGR of 6.5% during the forecast period.
Based on type, the engine oil section is projected to expand at a CAGR of 6.2% and hold the largest market share.
Based on technology, the synthetic lubricants segment is projected to expand at a CAGR of 6% and hold the largest market share.
Based on end-user, the aftermarket segment is projected to expand at a CAGR of 6.2% and hold the largest market share.
Based on application, the engine segment is projected to expand at a CAGR of 5.3% and hold the largest market share.
Based on the platform, the commercial aviation segment is projected to expand at a CAGR of 5.7% and hold the largest market share.
Based on region, the Asia Pacific will command the market with the largest share while expanding at a CAGR of 5%.

Competitive Players in the Market

Exxon Mobil Corporation
Aerospace Lubricants, Inc.
The Chemours Company
Royal Dutch Shell plc
NYCO
LANXESS
LUKOIL
Nye Lubricants, Inc.
Eastman Chemical Company
ROCOL
JET-LUBE.

Market News

In 2022, the Chemours Company announced the development of Advanced Polymer Architecture (APA) grade Vitonä. It is a leading industrial sustainable process innovation that will enable essential goods and applications for multiple markets, such as transportation, advanced electronics, industrial production, and oil and gas.

Global Aviation Lubricants Market: Segmentation
By type

Hydraulic Fluid
Engine Oil
Grease
Special Lubricants & Additives

By technology

Mineral Based
Synthetic

By application

Hydraulic systems
Engine
Landing Gear
Airframe
Others

By end-user

OEM
Aftermarket

By platform

Commercial Aviation
Military Aviation
Business & General Aviation

By region

North America
Asia Pacific
Europe
LAMEA

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