Home Press Releases Aerospace Lubricant Market Size Worth $3.78 Billion By 2030 | CAGR: 6.0%

Aerospace Lubricant Market Size Worth $3.78 Billion By 2030 | CAGR: 6.0%

The global aerospace lubricant market size is expected to reach USD 3.78 billion by 2030, according to a new study by Polaris Market Research. The report “Aerospace Lubricant Market Share, Size, Trends, Industry Analysis Report, By Product (Gas Turbine Oil, Piston Engine Oil, Hydraulic Fluid, Others); By Technology; By Application; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The demand for ecologically friendly lubricants in a variety of industries has gained traction, and its influence has spread to the market. Producers and consumers are increasingly looking for biodegradable alternatives to conventional aircraft lubricants to minimize the negative impact of the market on the atmosphere.

 

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Bio-based oils, which are gaining in popularity, are made from plant-based. This has sparked a lot of activity in the environment, with companies that focus their R&D efforts on developing non-hazardous, biodegradable, and bio-based products.

 

Furthermore, in June 2021, Arkema announced a 50% capacity increase for its Oleris advanced bio-materials globally. This expanded manufacturing capacity will be included in Arkema’s previously disclosed massive bio-factory now under development on Jurong Island in Singapore. Arkema is the world’s leading manufacturer of innovative bio-based C7, C11, and C18 oleochemicals, which are widely utilized in cosmetics, perfumes & flavors, construction, and pharmaceutical industries.

 

The requirement for higher fuel economy and efficiency while meeting fuel emission standards is propelling the global market forward. Increased air passenger traffic as a result of lower airfares has increased the number of aircraft, resulting in considerable growth in the Market.

 

According to a report by the Congressional Research Service Government Organization, between 2009 and 2028, the aerospace sector will require roughly 29,000 new aircraft in the airline business, valued at $3.2 trillion. It could result in a surge in demand for oils in the aerospace sector.

 

The development will be primarily driven by rising consumer spending for gas turbine oil, piston engine oil, hydraulic fluid, and hydraulic fluids, which can be used in a variety of applications such as civil aviation, armed services, and space, all of which are expected to see significant growth during this period owing to enhanced government investments in these industries around the world.

 

Aerospace Lubricant Market Report Highlights

  • Engine application segment is anticipated to grow at a significant rate over the forecast period. The demand for better and more effective aircraft models has expanded as commercial air transport develops fast in many emerging countries. As a result, the development of appropriate engines, like turbo engines, has increased for these aircraft.
  • Commercial aviation accounted for a significant share of the global revenue. This is due to factors such as an increased production rate of intense aircraft commercial airliners at significant aircraft manufacturers as a result of increased domestic & global travel volume, particularly in emerging economies such as India.
  • Asia Pacific is expected to grow at a significant rate over the projected period. This is due to the increased consumption of aviation lubricants in the corporate and commercial aircraft sectors.
  • The global market is highly competitive owing to the existence of large market players with a global presence including Aerospace Lubricants, Inc., Eastman Chemical Company, Royal Dutch Shell plc, Shell Global, TotalEnergies Company, The Chemours Company, and Zodiac Aerospace.

 

Polaris Market Research has segmented the aerospace lubricant market report based on product, technology, application, end-use, and region:

 

Aerospace Lubricant, Product Outlook (Revenue – USD Billion, 2018 – 2030)

  • Gas Turbine Oil
  • Piston Engine Oil
  • Hydraulic Fluid
  • Others

Aerospace Lubricant, Technology Outlook (Revenue – USD Billion, 2018 – 2030)

  • Synthetic
  • Mineral-based

Aerospace Lubricant, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Engine
  • Hydraulic Systems
  • Landing Gear
  • Airframe
  • Others

Aerospace Lubricant, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Civil
  • Defense
  • Space

Aerospace Lubricant, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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