Lubricant Market : Increasing Popularity of Bio Based Lubricants to Accentuate Market
The global independent lubricant manufacturers market is highly consolidated. Top four major companies in the market held nearly 58.0% in 2016. The major player in the market is FUCHS, which is a German-based multinational company is also known for being one of larges independent lubricant manufacturers. The company held a 37% of the overall revenue share in 2016. Other key players in the market are Motul, BVA Oils, ADDINOL Lube Oil Gmbh, AMSOIL INC., BVA Oils, Carlube, and Forsythe Lubrication. Though the market is literally controlled by few top players, but the presence of numerous small players, along with the arrival of new entrants is expected to make the market more competitive in nature in the years to come. Market players identify distribution channel and product pricing to be an important key in determining the market. Major players in the market are concentrating in offering innovative products to have better foothold in the market. In addition to this, players are like...