This comprehensive study provides various aspects of business such as important definition, end use and total revenue generated across various regions. The global industrial lubricants market was valued at USD 58.22 Billion in 2019 and is projected to reach USD 75.23 Billion by 2027, at a CAGR of 3.2% during the forecast period. The market is being driven by increasing usage of high-performance lubricants, primarily in wind energy industry and expansion of the cold chain industry.
The Global Industrial Lubricants Market Report offers extensive knowledge and information about the Industrial Lubricants Market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global Industrial Lubricants Market further validated and verified by the industry experts and professionals. The Global Industrial Lubricants Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Industrial Lubricants Market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
Rising focus by major companies on product/service expansion into new and untapped domestic markets, increasing investments in strategic agreements, favourable government policies and regulations, and growing competition in the market are some major trends observed in the Industrial Lubricants market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is expected to drive Industrial Lubricants market revenue growth to a significant extent over the forecast period.
Key Highlights of Report
In December 2020, Nyara Energy, formerly known as Essar Oil, partnered with Shell, a major energy company, to sell the latter’s industrial lubricants through its network of fuel stations in India. Nyara Energy has over 5,900 fuel stations in India and it plans to build new stations to reach 7,300 stations by 2022.
Hydraulic fluids offer a lubricating film, which reduces the wear and tear on moving parts of an equipment. Effectiveness of the film depends on the balance between viscosity of the lubricants, sliding speeds and loads, and fluid stability.
Synthetic oil has excellent low-temperature flow performance, it offers enhanced oxidation and thermal stability, and it has excellent wear protection. This type of oil is higher in quality and purity than mineral oils.
The construction segment held the largest share of the industrial lubricants market in 2019, due to high demand for construction activities in China and India. From dump trucks and draglines, bulldozers, to scrapers and shovels, all construction equipment are subjected to harsh conditions, which generates demand for lubricants.
The Asia Pacific region held the largest share of the global market, with high demand witnessed in China. The country is a rapidly developing nation and is witnessing strong growth of construction, power generation, and oil & gas sectors.
Key market participants include The Lubrizol Corporation, ExxonMobil Corp, Royal Dutch Shell, Amsoil, Inc., Valvoline International, Inc., Kluber Lubrication, Clariant, Chevron Corp., Petronas Lubricant International, and Quaker Chemical Corp.
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North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Chapter 1: Methodology & Scope
- Definition and forecast parameters
- Methodology and forecast parameters
- Data Sources
Chapter 2: Executive Summary
- Business trends
- Regional trends
- Product trends
- End-use trends
Chapter 3: Industry Insights
- Industry segmentation
- Industry landscape
- Vendor matrix
- Technological and innovation landscape
Chapter 4: Regional Landscape
Chapter 5: Company Profile
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
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