As defined by the Independent Lubricants Manufacturers Association (ILMA), a lubricant is a chemical or material that is used to lubricate engines and other components. Engine lubrication plays a crucial role in both commercial and automotive engines as it mitigates wear and tear caused by friction within the machinery and components. Lubricants find widespread usage in industrial machinery and engine components, and their formulations vary depending on the specific application, using specific base oils and additives. These base oils can be derived from either petroleum or bio-based sources.
The Lubricants Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Lubricants. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 150 Lubricant companies of which the top 20 lubricant companies were categorized and recognized as the quadrant leaders. The 360 Quadrant effectively maps the companies based on factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies that were considered for the market presence of the lubricant’s quadrant. While the top criteria for product footprint evaluation included Base Oil (Mineral, Synthetic, and Bio-Based), Product Type (Engine Oil, Gear Oil, Hydraulic Fluid, Compressor Oil, Transmission Fluid, Grease, and Others), and End-Use Industry.
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PetroChina – The Market Leader
PetroChina, as one of China’s largest oil producers and being part of the China National Petroleum Corporation (CNPC), PetroChina benefits from its association with a government-owned conglomerate, gaining access to resources and support that bolster its position in the lubricants market. It has been recognized as a top lubricants company by 360 Quadrants owing to the company’s global reach and a diverse product portfolio that enable it to cater to a wide range of industries and customer segments. The company has been focusing on expansion in the Asia-Pacific region.
The company offers lubricants through China petroleum lubricants corporation, a wholly owned subsidiary of CNPC. The company is known as one of the largest suppliers of lubricants in the Asia Pacific region. Its current brand is Kunlun. At present, it can produce more than 700 brands of lubricating oil (grease and agent) products in 17 categories and is the supplier of lubricating oil products for leading customers in the aviation, mining, automobile, chemical industry, steel, cement, electric power, ship, railway, rubber, equipment manufacturing, and other industries.
The company has 13 lubricating oil, grease, and additive production plants (including holding companies and integrated production and marketing plants), lubricating oil, and auxiliary products annual mixing capacity of 2.5 million tons, and an annual filling capacity of more than 1.5 million tons. In terms of Refining, Chemicals, and New Materials Business the company plans to increase the production of low-sulfur marine fuel oil, paraffin, lubricating oil, asphalt, and other characteristic products.
360 Quadrants Scoring Methodology
360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.
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See Also: Top Paint and Coatings Companies, Worldwide 2023
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Website: https://www.360quadrants.com/chemicals/lubricants