Lubricants and Greases Market Procurement Intelligence, Supplier Intelligence, Supplier Ranking 2020 – 2027

 Procurement Outlook

Supply chain challenges caused by the COVID-19 pandemic have underlined the importance of the partnerships between distributors, lubricant manufacturers, and raw material suppliers. The pandemic has disrupted the global supply chain, eventually leading to longer lead times for raw materials due to shortages in the industry. A shortage of truck drivers has also resulted in difficulty delivering finished lubricants.

Procurement specialists consider five key categories for evaluating lubricant suppliers:

·        Application Expertise

·        Diverse Chemistry

·        Supply Reliability

·        Risk Abatement

·        Ability to Serve

Identification of strengths and weaknesses are crucial while considering the success of OEMs, distribution channel partners, and end-users. The engagement model between the client and supplier must be selected based on their unique criteria to ensure supply reliability and adequate support.

Read report summary or request a free sample copy of the report “Lubricantsand Greases Market Procurement Intelligence”

Demand Outlook

The global lubricants market size was valued at USD 125.81 billion in 2020 and is expected to grow at a CAGR of 3.7% from 2021 to 2027. The growing manufacturing of vehicles and their spare parts is expected to fuel the demand for automotive oils and greases. Asia Pacific is the largest market for lubricants. Prominent trends that the market is witnessing include the evolution of bio-based lubricants, the improvement of low-viscosity lubricants to fit present machinery, demand for polyamide resins in industrial applications, and growth opportunities/investment opportunities

Lubricant prices and availability are highly driven by the lubricant stock (base oil) in the region. The US and Europe have shifted their base oil stock to Group 2 and Group 3 stocks respectively, while Asian and LATAM markets continue using Group 1 and Group 3 stocks.

Cost Drivers

The increasing demand for high-performance lubricants is expected to fuel the growth for premium products, owing to better and improved properties, such as reduction inflammability, wear and tear reduction in gear mechanism, and improved service life. High-performance lubricants are designed for high and low temperatures, dusty, damp, or otherwise exceptional environment, but they also help to optimize the maintenance and servicing cycle of the equipment by using the best-suited oils and greases, resulting in cost- effective manufacturing process.

 

Check out the featured AddonServices offered with Lubricants and Greases Market Procurement Intelligence Report:

 

About us:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.

 

Our services include (not limited to):

 

·         Market Intelligence involving - market size and forecast, growth factors, and driving trends

·         Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership

·         Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

·         Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption


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Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.

 

Find More information @ https://www.grandviewresearch.com/pipeline

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