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Industrial Lubricants Market Report Scope & Overview:

Industrial Lubricants Market Revenue Analysis

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The Industrial Lubricants Market was valued at USD 71.85 billion in 2023 and is expected to reach USD 96.57 billion by 2032 and grow at a CAGR of 3.34% over the forecast period 2024-2032.

Lubricants are used to guarantee that the machines in an industry run smoothly. Industrial lubricants are made up of compounds that are used to keep the machinery running smoothly. Industrial lubricants also help to keep machinery from rusting and reduce friction between components.

The main cause of the market's rapid rise is an increase in demand for lubricants for automotive applications. Rising industrialization, combined with increased demand for grease from various industries to ensure efficient machine operation, would have a direct and beneficial impact on the market's development rate. The high use of general industrial oils will help to propel the market forward.

MARKET DYNAMICS:

Opportunities:

Drivers:

  • Increased use of grease in industries.

  • Working smooth.

  • Increases the productivity.

Restraints

  • The smoothening degree is less.

  • Witnessing the emergence of probable market.

Impact of COVID-19:

Since its debut in 2019-2020, the pandemic has had a significant impact on the industrial lubricants market revenue. Due to the pandemic, global industries and prominent markets have come to a halt as a result of the lockdown, which was followed by the announcement of strict import and export bans, as well as the suspension of international flights, limiting global opportunities for market growth in 2020 and beyond.

As a result, worldwide market players have been experiencing an increasing requirement for dependable investment quantum, which will lead to new product and service research and development, as well as mergers, acquisitions, and partnerships among established companies throughout the world over the term.

Segment Description:

By Product Type Hydraulic lubricants, metalworking lubricants, gear lubricants, compressor lubricants, and other types of lubricants have been segmented into the global market. Hydraulic lubricants have the biggest market share due to rising demand in the mining and construction industries. During the review period, however, metalworking lubricant is predicted to increase at a quicker rate.

By End Use The market has been divided all across the globe based on the end-user into power generation sector, automotive manufacturing sector, heavy industries sector, and others. The bigger market share is held by the automotive industry.

Market Segmentation:

By Oil Type

  • Mineral Oil

  • Synthetic Oil

    • Polyalphaolefins (PAO)

    • Polyalkylene Glycol (PAG)

    • Esters

    • Group III (Hydro cracking)

  • Bio-based Oil

By  End-Use Industry

  • Construction

  • Metal & Mining

  • Cement Production

  • Power Generation

  • Automotive (Vehicle Manufacturing)

  • Chemical

  • Oil & Gas

  • Textile

  • Food Processing

  • Others

By  Product Type

  • Hydraulic fluid

  • Metalworking fluid

  • Gear Oil

  • Compressor Oil

  • Grease

  • Turbine Oil

  • Others

Regional Analysis:

The industrial lubricants market has been segmented into North American, Asia-Pacific, European, Latin American, and Middle East and African regions depending on region. The Asia-Pacific region, as the fastest-emerging area, has the biggest market share in the global market, owing to the existence of nations such as South Korea, Japan, China, and India, which are regarded as automotive market hubs and hence drive market demand in this region. Furthermore, rising urbanisation is another aspect driving up market demand.

The North American area holds the second-largest market share in the global market, owing to the existence of countries such as the United States, Canada, and Mexico, which drive market demand in this region.

The European area holds the third-largest market share in the global market, owing to the presence of a well-established technologically advanced infrastructure that necessitates more power generation and hence generates more growth prospects in this region.

Industrial-Lubricants-Market-Regional-Share

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REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players:

The Key Players are ExxonMobil, Chevron Corporation, Total S.A., Idemitsu Kosan Co. Ltd., Fuchs Petrolub AG, Valvoline, Lukoil, Petronas, Gazprom Neft, Pertamina,Royal Dutch Shell,  BP p.l.c., PetroChina Company Limited, Sinopec Limited & Other Players.

Industrial Lubricants Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 71.85 Billion
Market Size by 2032 US$ 96.57 Billion
CAGR CAGR of 3.34% From 2024 to 2032
Base Year 2023
Forecast Period 2024-2032
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By oil (Mineral Oil, Synthetic Oil, Bio-based Oil)
• By  End-Use Industry (Construction, Metal & Mining, Cement Production, Power Generation, Automotive, Chemical, Oil & Gas, Textile, Food Processing, Others)
• By  Product Type (Hydraulic fluid, Metalworking fluid, Gear Oil, Compressor Oil, Grease, Turbine Oil, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles ExxonMobil, Chevron Corporation, Total S.A., Idemitsu Kosan Co. Ltd., Fuchs Petrolub AG, Valvoline, Lukoil, Petronas, Gazprom Neft, Pertamina,Royal Dutch Shell,  BP p.l.c., PetroChina Company Limited, Sinopec Limited
DRIVERS •  Increased use of grease in industries.
• Working smooth.
• Increases the productivity.
RESTRAINTS • The demand for hybrid electric vehicles.

Frequently Asked Questions

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: The Asia-Pacific region, as the fastest-emerging area, has the biggest market share in the global market

Ans: By oil, By end-use industry, By product type are segments of the global sheet metal market.

Ans: The smoothening degree is less and Witnessing the emergence of probable market are the restraints for the Global Industrial Lubricants Market

Ans: Industrial Lubricants Market was valued at USD 71.85 billion in 2023 and is expected to reach USD 96.57 billion by 2032, and grow at a CAGR of 3.34% over the forecast period 2024-2032.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Industrial Lubricants Market Segment, By oil Type

8.1 Mineral Oil

8.2 Synthetic Oil

8.2.1 Polyalphaolefins (PAO)

8.2.2 Polyalkylene Glycol (PAG)

8.2.3 Esters

8.2.4 Group III (Hydro cracking)

8.3 Bio-based Oil

9. Global Industrial Lubricants Market Segment, By end-use industry

9.1 Construction

9.2 Metal & Mining

9.3 Cement Production

9.4 Power Generation

9.5 Automotive (Vehicle Manufacturing)

9.6 Chemical

9.7 Oil & Gas

9.8 Textile

9.9 Food Processing

9.10 Others

10. Global Industrial Lubricants Market Segment, By product type

10.1 Hydraulic fluid

10.2 Metalworking fluid

10.3 Gear Oil

10.4 Compressor Oil

10.5 Grease

10.6 Turbine Oil

10.7 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2    Canada

11.2.3    Mexico

11.3 Europe

11.3.1    Germany

11.3.2    UK

11.3.3    France

11.3.4    Italy

11.3.5    Spain

11.3.6    The Netherlands

11.3.7    Rest of Europe

11.4 Asia-Pacific

11.4.1    Japan

11.4.2    South Korea

11.4.3    China

11.4.4    India

11.4.5    Australia

11.4.6    Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1    Israel

11.5.2    UAE

11.5.3    South Africa

11.5.4    Rest

11.6 Latin America

11.6.1    Brazil

11.6.2    Argentina

11.6.3    Rest of Latin America

12. Company Profiles

12.1Royal Dutch Shell

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 ExxonMobil

12.3 BP p.l.c.

12.4 Chevron Corporation

12.5 Total S.A.

12.6 PetroChina Company Limited

12.7 Idemitsu Kosan Co. Ltd.

12.8 Sinopec Limited 

12.9 Fuchs Petrolub AG

12.10 Valvoline

12.11 Lukoil

12.12 Petronas

12.13 Gazprom Neft

12.14 Pertamina

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share Analysis

13.3 Recent Developments

14. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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