Vinmar has acquired the operational assets of Nanomech, a nanotechnology manufacturer of specialty lubricants which is going to influence the lubricant market
Global: Vinmar International, Ltd. a Houston-based global marketing, distribution and project Development Company. With this acquirement, Vinmar continues to implement its technology portfolio development strategy. It also refers to Vinmar’s further entry into the oil and gas sector, an important step in expanding the company’s product and market segment diversification. Additionally, Vinmar will be able to fulfill its customer’s specific requirements while providing products from global sources with efficient supply chain execution and creative financial solutions. NanoMech, is a nanotechnology manufacturer of specialty lubricants, chemicals, protective coatings, and cutting tools.
According to BlueWeave Consulting, the Global lubricant market is anticipated to be a lucrative market during the forecast period. Owing to technological developments in the area of manufactured goods designing and marketing strategies. With the optimization of e-commerce platforms are boosting the accessibility of lubricant. Moreover, Industrial sector growth is propelled by strong global trade, rising commodity prices, and supportive domestic policies in developing economies like India, China, Indonesia, and South Korea markets. Thus, Strong domestic growth, chiefly GDP growth fueled by private consumption and fixed investment has accelerated industrial sector progress which has positively influenced the application of lubricants in the industrial sector. Continuous R&D by multinational organizations to provide bio-based lubes due to environmental degradation is projected to drive the growth of the market. Developing economies such as China, India, and Indonesia among others are growing regions of the global manufacturing segment. The growth is supported by the accessibility of raw material and condensed infrastructure and employment cost. Owing to these dynamics, numerous oil and fluid producers are also shifting and escalating their production units in developing nations. Consumer’s high demand for standard and specialized products to fulfill their specific requirements and thus lubricant manufacturers are financing in new product improvements, particularly for the automotive industry. Rising competition between lube manufacturers has established the customer perspective for price and brand loyalty.
According to BlueWeave Consulting report titled “Global Lubricants Market, by Type (Mineral Oil,Synthetic Lubricants, Greases, Bio-Based Lubricants), By Applications (Engine Oil, Gear Oil, Transmission and Hydraulic Fluids, General Industrial Oils,Process Oils, Metalworking Fluids & Others), by Additives (Dispersants,Viscosity Index Improvers, Detergents, Anti-Wear Additives, Antioxidants,Friction Modifiers & Others) by Region (North America, Europe, AsiaPacific, Latin America and Middle East & Africa); Size and Forecast,2018-2025”
Global Lubricants Market report provides analysis for the period 2014–2025, where in the period from 2018 to 2025 is the forecast period and 2017 is base year. The market study reveals that the Global Lubricants Market is expected to grow over a CAGR of 3.65% during 2018-2025 in terms of value. The increasing number of the passenger vehicle, commercial vehicle, and growth in the aviation and marine industries are expected to drive the lubricant market, globally. Lubricants are materials that help reduce friction between moving parts or surfaces to enhance the efficiency of machines. They are used in different applications ranging from automobiles to large multitudes of industries.