U.S. Lubricant Market Size, Share, Growth Analysis, By Application(Automotive, Industrial, Marine, Aerospace), By Product type(Engine oil, greases, hydraulic fluids, Transmission), By Region - Industry Forecast 2024-2031

US Lubricant Market Driver

• With the rising cost of energy to power industrial activities, the industrial sector is attempting to reduce energy consumption and operational costs. Engine parts that aren't lubricated are more prone to friction, requiring more fuel and contributing to pollution and emissions. A high-quality product contributes to this by reducing friction between parts and increasing machine efficiency. Because of their superior density, viscosity, and molecular weight, gears lubricated with synthetic lubes have less friction, according to independent testing conducted by 'The National Lubricating Grease Institute.' PAG and PAO-based gear lubricants also help reduce maintenance costs in cylindrical gears due to lower churning losses at lower temperatures and less gear erosion.

US Lubricant Market Restraint

• The automotive industry significantly contributes to global lubricant product consumption and growth. In traditional automobiles, various oils are used to maintain engine quality over time. However, as crude oil demand rises, so do environmental concerns. Electric vehicles are gaining popularity among consumers in both developed and developing countries. Furthermore, the advantages of electric vehicles become more apparent as technology advances. The adoption of electric vehicles is expected to slow the growth of the automobile industry.