Aviation Lubricants Market to Grow by 1.6x as Air Passenger Traffic Burgeons Post Pandemic

NEW YORK, Nov. 2, 2021 /PRNewswire/ -- According to Fact.MR, sales of aviation lubricants are expected to reach US$ 859.8 Mn by 2021. Owing to the increasing aircraft fleet worldwide and rising passenger traffic, the aviation lubricants market is projected to register a CAGR of 5% between 2021 and 2031, surpassing US$ 1.4 Bn by the end of 2031. NEW YORK,Nov. 2, 2021/PRNewswire/ -- According to Fact.MR, sales of aviation lubricants are expected to reachUS$ 859.8 Mnby 2021. Owing to...

NEW YORK, Nov. 2, 2021 /PRNewswire/ -- According to Fact.MR, sales of aviation lubricants are expected to reach US$ 859.8 Mn by 2021. Owing to the increasing aircraft fleet worldwide and rising passenger traffic, the aviation lubricants market is projected to register a CAGR of 5% between 2021 and 2031, surpassing US$ 1.4 Bn by the end of 2031.

Government and other private companies across the globe are launching multiple projects to build new airports and expand their aircraft fleet. This in turn is expected to create lucrative growth opportunities for aviation lubricants market.

The aviation industry was severely hit by the unprecedented outbreak of COVID-19 pandemic. This caused the sales of aviation lubricant to plummet. As per the International Air Transport Association (IATA), 2020 was the worst year for aviation industry. Only 1.8 billion passengers flew in 2020, registering a decline of 60.2% compared to the 4.5 billion who flew in 2019.

However, with the resumption of air traffic and mass vaccination drive, the aviation sector is gradually recovering. Fact.MR projects positive growth trajectory, with the demand in the market forecast to grow by 1.6x through 2031.  

As per the report, manufacturers are focusing on developing low-density lubricants in coherence with the motto of aircraft manufacturers to reduce the overall weight of the aircraft. These developments are expected to remain crucial for the growth of the market.

Besides this, demand for aviation lubricants will rise in response to advancements in space technology, increasing number of space vehicles such as space crafts, and orbital launch vehicles.

Request a report sample to gain compressive insights at

https://www.factmr.com/connectus/sample?flag=S&rep_id=5365

According to the report, semi-synthetic & synthetic oil lubricants segment is projected to witness the highest demand during the forecast period. These lubricant fluids offer enhanced lubricating properties, including higher thermal stability, superior volatility and improved service life. Fact.MR predicts the segment to account for around half of the aviation lubricants demand globally.

Regionally, North America, spearheaded by surging demand in the U.S., will account for the maximum sales of aviation lubricants globally in 2021. Growth in the region can be attributed to the rising preference for air travel, high investments by governments, and presence of leading aircraft companies such as Boeing and the Airbus Group in the U.S.

"Post COVID-19, aviation lubricants market is anticipated to register strong growth as global tourism regains momentum. People are willing to spend on travel and tourism as governments gradually ease stringent travel restrictions. Driven by this, the sales of aviation lubricants are expected to grow over the forthcoming years," says the Fact.MR analyst.

Key Takeaways from Aviation Lubricants Market Survey

Key Drivers

To gain in-depth insights on Aviation Lubricants Market, request methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=5365

Competitive Landscape

Companies operating in the aviation lubricants market are aiming at developing long term relationships with aviation operators. They have adopted various strategies such as new product launches, partnerships, collaborations and acquisitions to increase their sales.

Some of the prominent players operating in the aviation lubricants market profiled by Fact.MR are:

More Insights on the Global Aviation Lubricants Sales Outlook

Fact.MR provides an unbiased analysis of aviation lubricants market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for aviation lubricants with a detailed segmentation on the basis of:

Product

Aircraft

Type

Sales Channel

Region

Key Questions Covered in the Aviation Lubricants Market Outlook Report

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Automotive Lubricants Market- The industry is expected to increase positively and gain remunerative pace in emerging countries throughout the forecast period, providing a boost to the automotive lubricants market. The global market for automotive lubricants continues to expand as the number of vehicles on the road increases and the transportation industry develops. Properties like strong thermal stability, low freezing point, and high boiling point aid in improving the engine's overall performance. These are the factors that are expected to drive the automotive lubricants industry in the next years.

Tire and Rubber Lubricants Market- The increased use of tire and rubber lubricants in the manufacturing of vehicle tires is fueling the growth of the tire and rubber lubricants market. The global expansion of the automobile industry has resulted in increased demand for tires in the automotive industry. Tire and rubber lubricants, on the other hand, are highly hazardous and carcinogenic due to high levels of polynuclear aromatic compounds (PNAs) in these lubricants. During the predicted period, this could limit demand for tire and rubber lubricants.

Graphite Lubricant Market- The use of graphite lubricants in regions where high temperatures are required is propelling the global graphite lubricant market forward. Organic or liquid lubricants are ineffective in such environments. It works well with a dry, solid lubricant like graphite. High electrical and thermal conductivity, as well as a low coefficient of friction, are further features of the product that make it very suited. The Asia Pacific graphite lubricant market is primarily driven by the existence of big and emerging nations such as India and China, which are not only key producers but also users of the product.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to chemical and materials, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.

MarketNgage is powered by Fact.MR – our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.

You can access all our chemical and materials research reports by signing up with MarketNgage's Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR – A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.

Contact: 
Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: [email protected]

Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg