The global industrial lubricants market is estimated to reach value of USD 75.23 Billion by 2027, according to a current analysis by Emergen Research. Increase in the number of trade activities and surge in industrialization in developing countries are estimated to propel the industrial lubricants market in the near future.
The Global industrial lubricants market Report, published by Emergen Research, offers an -wide assessment of the industrial lubricants market, which is inclusive of the most crucial factors contributing to the growth of the industrial lubricants market. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2020-2027.
Industrial lubricants are used to reduce friction between two surfaces. They help machines to work without any glitch and prolong the life of affected parts by lowering the wear and tear. Most of the industrial lubricants used have organic base, such as mineral oil or petroleum fraction. Moreover, increased investments in research and development are also likely to boost the industrial lubricants market during the forecast period.
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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.
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- 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.
Furthermore, the report provides a comprehensive overview of the industrial lubricants Market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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For the purpose of this report, Emergen Research has segmented the global industrial lubricants market based on product type, base oil, end-use industry, and region:
Product Type Outlook (Revenue, USD Billion; 2017–2027)
- Hydraulic Fluid
- Metalworking Fluid
- Gear Oil
- Compressor Oil
- Grease
- Turbine Oil
- Others
- Transformer Oil
- Refrigeration Oil
- Textile Machinery Lubricants
Base Oil Outlook (Revenue, USD Billion; 2017–2027)
- Mineral Oil
- Synthetic Oil
- Polyalphaolefins (PAO)
- Polyalkylene Glycol (PAG)
- Esters
- Group iii (Hydrocracking)
- Bio-based Oil
End-use Industry Outlook (Revenue, USD Billion; 2017–2027)
- Construction
- Metal Mining
- Cement Production
- Power Generation
- Automotive (Vehicle Manufacturing)
- Chemical
- Oil Gas
- Textile
- Food Processing
- Others
- Agriculture
- Pulp Paper
- Marine (Deck Manufacturing)
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Rest of MEA
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Key Questions Answered in the Report:
What is the growth rate of the industrial lubricants Market?
What is the anticipated market valuation of industrial lubricants Market industry by 2027?
What are the key growth driving and restraining factors of the industrial lubricants Market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the industrial lubricants Market industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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