Global Industrial Lubricants Market, By Grade (Group I, Group II, Group III, Group IV and Group V), Base Oil (Bio-based, Mineral Oil and Synthetic and Semi-synthetic), Product Type (Engine Oil, Compressor Lubricants, Turbine Lubricants, Transmission and Hydraulic Fluids, Metalworking Fluids, General Industrial Oils, Gear Oil, Greases, Process Oils and Other Product Types), End Use Industry (Marine, Automotive, Transportation, Textiles, Power Generation, Heavy Equipment, Metallurgy and Metal Working, Food and Beverage, Chemical Manufacturing and Other End user Industries), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Data Bridge Market Research analyses that the industrial lubricants market will witness a CAGR of 3.47% for the forecast period of 2021-2028. Increase in the demand for industrial lubricants by a wide range of end user verticals such as marine, automotive, transportation, textiles, power generation, heavy equipment, metallurgy and metalworking, food and beverage, chemical manufacturing, and others, growing focus on process-automation technology in the manufacturing units, and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the industrial lubricants market.
Lubricants are used to ensure smooth functioning of the machines employed in an industry. Industrial lubricants are available in the form of compounds and are used to minimize the wear and tear in the machines. The industrial lubricants also prevent the machines from getting rusted and further reduce the friction in the components.
Rise in demand for lubricants for automobile applications is the root cause fuelling up the market growth rate. Rising industrialization coupled with increasing demand for grease by the various industries to stimulate smooth working of machines will also directly and positively impact the growth rate of the market. High consumption of general industrial oils will further carve the way for the growth of market. Growth and expansion of cold chain market will also bolster the market growth rate.
However, rising environmental concerns and stringent regulations in regard to environmental pollution will pose a major challenge to the growth of the market. Also, high costs associated with the synthetic and bio-based lubricants such will dampen the market growth rate. Increasing drain intervals in the industrial operations will further derail the market growth rate.
This industrial lubricants market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on industrial lubricants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Industrial Lubricants Market Scope and Market Size
The industrial lubricants market is segmented on the basis of grade, base oil, product type, and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of grade, the industrial lubricants market is segmented into group I, group II, group III, group IV, and group V.
- On the basis of base oil, the industrial lubricants market is segmented into bio-based, mineral oil and synthetic and semi-synthetic.
- On the basis of product type, the industrial lubricants market is segmented into the engine oil, compressor lubricants, turbine lubricants, transmission and hydraulic fluids, metalworking fluids, general industrial oils, gear oil, greases, process oils, and other product types.
- On the basis of end user industry, the industrial lubricants market is segmented into marine, automotive, transportation, textiles, power generation, heavy equipment, metallurgy and metal working, food and beverage, chemical manufacturing, and other end user industries.
Global Industrial Lubricants Market Country Level Analysis
The industrial lubricants market is analysed and market size, volume information is provided by country, grade, base oil, product type, and end user industry referenced above.
The countries covered in the industrial lubricants market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific will project the highest CAGR for this period owing to the growth and expansion of various end user verticals in this region, rising industrialization, and growing awareness regarding bio-based industrial oils.
The country section of the industrial lubricants market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial Lubricants Market Share Analysis
The industrial lubricants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to industrial lubricants market.
The major players covered in the industrial lubricants market report are Shell group of companies, BP, Chevron Corporation., LUKOIL Marine Lubricants DMCC, Exxon Mobil Corporation., Eni S.p.A., Croda International Plc, Total Group, Synforce Lubricants., Valvoline LLC, Lubricon, Bailey’s Marine Fuels, Chevron Corporation., CASTROL LIMITED, China Petrochemical Corporation., Gulf Oil, Indian Oil Corporation Ltd, PETRONAS Lubricants International ., FUCHS and Idemitsu Kosan Co.,Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.