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 Companies 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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Sinopec – The Market Leader
Sinopec, another major Chinese lubricant manufacturer, and distributor, can supply over 700+ lube oils and greases in 20 categories like crankcase oil, hydraulic oil, and greases, etc. Sinopec is a division of China Petrochemical Company and is a vertically integrated energy and chemical enterprise. The Company is one of the largest oil and petrochemical products suppliers and one of the largest oil and gas producers in China. It has been recognized as a top lubricants company by 360 Quadrants owing to its wide product portfolio and a significant market presence in China and other regions. Sinopec lubricants have entered into the markets of Southeast Asia, Africa, Europe, Australia, and South America through a highly efficient sales network in more than 40 countries. The company offers its lubricant products through its subsidiary, Sinopec Lubricant.
The company through its subsidiaries has a wide portfolio of products such as automotive lubricants, industrial lubricants, brake fluid, Gas engine oil, industrial gear oil, and greases, among others. Sinopec has built a strong brand image in the automotive industry. Its products win technical certificates from automobile manufacturers, such as Daimler-Chrysler, Volkswagen, Mercedes-Bens, Volvo, and MAN and become the first lubricant option of the large-scale group corporations including FAW-VW, Dongfeng Motor Corp., Shanghai General Motor, Shanghai Volkswagen, Chery Group, Baosteel Group Corp., etc.
In May 2023, the company launched SINOPEC X-Series Synthetic Motorcycle Lubricant in Malaysian markets. The product incorporates fully synthetic formulations and multi-functional additives and meets the requirements of the Japanese Automobile Standards Organization (JASO) as a JASO MA2 and JASO MB along with the requirements of API SN service category. Sinopec is now empowering energy transformation with innovative, green, and low-carbon technologies.
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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