Global Industrial Lubricants Market

Global Industrial Lubricants Market By Base oil (Mineral Oil, Synthetic Oil, and Bio-based Oil), By Product Type (Hydraulic Fluid, Metalworking Fluid, Gear Oil, Compressor Oil, Grease, Turbine Oil, and Others), By End-User Industry (Construction, Metal & Mining, Power Generation, Automotive, Chemical, Oil & Gas, Food Processing, Textile and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Global Industrial Lubricants Market Overview:

Lubricating oil is generally composed of base oil and additives. The base oil is the primary component of lubricating oil, determining the basic properties of lubricating oil. The additives improve the deficiencies of base oil performance, giving specific new properties is an essential part of lubricants. Industrial lubricating oils have a wide range of applications. There are many base oils, such as pure mineral oil, PAO polyɑ dilute synthetic hydrocarbon oil, polyether synthetic oil, alkyl benzene oil, and biodegradable lipid oil. When they become a kind of industrial lubricating oil, they cannot be mixed.

Global Industrial Lubricants Market Insights

The global industrial lubricants market size was valued at 64.7 billion in 2019 and projected to reach USD 81.98 billion by 2027, registering a CAGR of 2.96%, during the forecast period, 2020-2027. The vital factors are massive industrial growth in developing countries and the upsurge in process automation in most industries. Further, the growing usage of high-performance lubricants and expansion of the global cold chain market is estimated to fuel the industrial lubricants market in future periods. Additionally, the rapid industrialization in developing countries, along with the increase in the number of trade activities fuels, will accelerate the growth of the industrial lubricants market in the forecast periods. The growing automotive industry and the rising demand for low viscosity fluids in the automotive sector are estimated to bolster the robust growth of the industrial lubricants industry in the upcoming periods.

Moreover, the rising demand for industrial lubricants from the textile, chemical manufacturing, and metalworking industries will augment the global industrial lubricants market share in future periods. The rapid industrialization, growing need for infrastructural development & automation, and the plummeting oil prices will impact the growth of the industrial lubricants market in the upcoming periods. Furthermore, the changing consumer lifestyles and adoption of western living standards lead to the demand for processed and frozen foods. These factors anticipated propelling the expansion of the market. The surge in demand for grease in industries to continue the smooth working of machinery is projected to promulgate the market’s growth. The increased focus on renewable energy and the growth in the wind turbine industry will foster the growth of the industrial lubricants market.

Growth Driver

Growing demand for automotive lubricant

With the global automotive industry’s continuous development, the number of automobiles is rising, and lubricants’ demand continues to increase. From the perspective of the development history of automotive lubricants globally, the quality of automotive lubricants has developed from low-level to high-level. Its development is mainly to adapt to the social requirements of automobile design improvement, road conditions improvement, energy conservation, and environmental protection. Advances in engine technology, extending the engine oil change period, reducing the impact on exhaust gas treatment devices and emissions, improving fuel economy, and further strict environmental regulations will continue to promote the development of automotive lubricant quality.

Impact of Covid-19 Insights

Recently, the outbreak, the COVID-19 pandemic, has adversely impacted the price and trade of crude oil. The retail market and institutional sales of lubricants are down by over 75%, which may affect most companies. A significant slowdown in transportation and the movement of people has seen due to the lockdown. Transportation of goods has been severely curtailed as distribution chains have almost come to a halt. Also, industrial activity in the lockdown period has shrunk. It has the potential to impact sales of various types of industrial lubricants, including transmission and hydraulic oils, metalworking fluid, industrial gear oils, turbine oils, compressor oils, greases, agri-spray oils, other industrial lubes, etc.

Base Oil Segmental Analysis

Based on base oil, the global industrial lubricants market classified into mineral oil, synthetic oil, and bio-based oil. The mineral oil will witness significant growth in the forecast period. This segment’s growth can be attributed to the high usage of mineral oil in construction, metal & mining, cement production, and other applications.

The bio-based oil is projected to grow with a significant CAGR for industrial lubricants in the estimated period due to the growing adoption of bio-based oil in engines, cables, suppressants, railroad flanges, and marine lubricants.

Product Type Segmental Analysis

Based on product type, the global industrial lubricants market segregated into hydraulic fluid, metalworking fluid, gear oil, compressor oil, grease, turbine oil, and others. The hydraulic fluid segment held a lucrative share in 2019 and projected to dominate the global industrial lubricants market by 2027. It is due to the low cost of hydraulic fluid compared to the other types and its demand from the construction industry.

The metalworking fluid segment is likely to witness rapid growth during the forecast period. The growing application of metalworking fluid in the technical and chemical industry to improve the manufacturing process will drive the industrial lubricants market.

End-User Industry Segmental Analysis

Based on the end-user industry, the global industrial lubricants market segregated into construction, metal & mining, power generation, automotive, chemical, oil & gas, food processing, textile, and others. The construction emerged as a dominant segment in 2019. It is attributable to the growing demand for industrial lubricant oil in construction activities, especially in the residential sector and the rising infrastructural development in developing nations.

The chemical segment exhibits a lucrative market share in 2019 and expected to generate significant revenue during 2020-2027 due to industrial lubricants maximize the life and performance of machines, which withstand severe stress.

Region Segmental Analysis

Based on geography, the global industrial lubricants market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific estimated to occupy the lion’s share in the global industrial lubricants market by 2027. Due to the swelling population in the region, increased expenditure in the construction sector in the developing countries, improved lifestyle, increase in employment rate, and the upsurge in disposable income of the people.

North America will capture a prominent share of the industrial lubricants market and projected to remain dominant by 2027. Due to the surge in demand for oilfield chemicals due to drilling and exploration activities and resurgence in industrial activities and the modernization of industrial machinery.

Competitor Analysis

Companies such as ExxonMobil, Royal Dutch Shell, BP p.l.c., Chevron Corporation, Total S.A., PetroChina Company Limited, Idemitsu Kosan Co. Ltd., Sinopec Limited, Fuchs Petrolub AG, Valvoline, Lukoil, Petronas, Gazprom Neft, and Pertamina are the key players in the global industrial lubricants market.

Key Stakeholders

  • Market research and consulting firms
  • Industry associations
  • Global Industrial Lubricants manufacturing firm
  • Research organizations and consulting companies
  • Organizations, associations, and alliances related to industrial lubricants
  • Regulatory bodies
  • Suppliers
  • Retailers

The objective of the Research

  • Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
  • Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
  • Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
  • Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
  • The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

 

Market Modelling

By Base Oil

  • Mineral Oil
  • Synthetic Oil
  • Bio-based Oil

By Product Type

  • Hydraulic Fluid
  • Metalworking Fluid
  • Gear Oil
  • Compressor Oil
  • Grease
  • Turbine Oil
  • Others

By End-User Industry

  • Construction
  • Metal & Mining
  • Power Generation
  • Automotive
  • Chemical
  • Oil & Gas
  • Food Processing
  • Textile
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Global Industrial Lubricants Market

Report Content

  1. Research Strategic Development
    • Market Modelling
    • Product Analysis
    • Market Trend and Economic Factors Analysis
    • Market Segmental Analysis
    • Geographical Mapping
    • Country Wise Segregation
  2. Research Methodology
    • Identification of Target Market
    • Data Acquisition
    • Refining of Data/ Data Transformations
    • Data Validation through Primary Techniques
    • Exploratory Data Analysis
    • Graphical Techniques/Analysis
    • Quantitative Techniques/Analysis
    • Visual Result/Presentation
  3. Executive Summary
  4. Market Insights
    • Supply Chain Analysis
    • Economic Factor Analysis
      • Drivers
      • Trends
      • Opportunities
      • Challenges
    • Technological Landscape
    • Competitors & Product Analysis
    • Regulatory Framework
    • Company market share analysis, 2019
    • Porter’s Five forces analysis
    • New Investment Analysis
    • PESTEL Analysis
  5. Global Industrial Lubricants Market Overview
    • Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By Volume (Kilo Tons)
      • Market Share & Forecast, 2016-2027
        • By Base Oil
          • Mineral Oil
          • Synthetic Oil
          • Bio-based Oil
        • By Product Type
          • Hydraulic Fluid
          • Metalworking Fluid
          • Gear Oil
          • Compressor Oil
          • Grease
          • Turbine Oil
          • Others (Transformer Oil, Refrigeration Oil, Textile Machinery Lubricants etc.)
        • By End-User Industry
          • Construction
          • Metal & Mining
          • Power Generation
          • Automotive
          • Chemical
          • Oil & Gas
          • Food Processing
          • Textile
          • Others
        • By Region
          • North America
          • Europe
          • Asia Pacific
          • South America
          • Middle East & Africa
  1. North America Industrial Lubricants Market Overview
    • North America Industrial Lubricants Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By Volume (Kilo Tons)
      • North America Industrial Lubricants Market Share & Forecast, 2016-2027
        • By Base Oil
          • Mineral Oil
          • Synthetic Oil
          • Bio-based Oil
        • By Product Type
          • Hydraulic Fluid
          • Metalworking Fluid
          • Gear Oil
          • Compressor Oil
          • Grease
          • Turbine Oil
          • Others (Transformer Oil, Refrigeration Oil, Textile Machinery Lubricants etc.)
        • By End-User Industry
          • Construction
          • Metal & Mining
          • Power Generation
          • Automotive
          • Chemical
          • Oil & Gas
          • Food Processing
          • Textile
          • Others
        • By Country
          • US
          • Canada
          • Mexico
        • Price-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on North America Industrial Lubricants Market
  1. Europe Industrial Lubricants Market Overview
    • Europe Industrial Lubricants Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By Volume (Kilo Tons)
      • Europe Industrial Lubricants Market Share & Forecast, 2016-2027
        • By Base Oil
          • Mineral Oil
          • Synthetic Oil
          • Bio-based Oil
        • By Product Type
          • Hydraulic Fluid
          • Metalworking Fluid
          • Gear Oil
          • Compressor Oil
          • Grease
          • Turbine Oil
          • Others (Transformer Oil, Refrigeration Oil, Textile Machinery Lubricants etc.)
        • By End-User Industry
          • Construction
          • Metal & Mining
          • Power Generation
          • Automotive
          • Chemical
          • Oil & Gas
          • Food Processing
          • Textile
          • Others
        • By Country
          • Germany
          • UK
          • France
          • Italy
          • Rest of Europe
        • Price-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Europe Industrial Lubricants Market
  1. Asia Pacific Industrial Lubricants Market Overview
    • Asia Pacific Industrial Lubricants Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By Volume (Kilo Tons)
      • Asia Pacific Industrial Lubricants Market Share & Forecast, 2016-2027
        • By Base Oil
          • Mineral Oil
          • Synthetic Oil
          • Bio-based Oil
        • By Product Type
          • Hydraulic Fluid
          • Metalworking Fluid
          • Gear Oil
          • Compressor Oil
          • Grease
          • Turbine Oil
          • Others (Transformer Oil, Refrigeration Oil, Textile Machinery Lubricants etc.)
        • By End-User Industry
          • Construction
          • Metal & Mining
          • Power Generation
          • Automotive
          • Chemical
          • Oil & Gas
          • Food Processing
          • Textile
          • Others
        • By Country
          • China
          • India
          • Japan
          • Australia
          • Rest of Asia Pacific
        • Price-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Asia Pacific Industrial Lubricants Market
  1. South America Industrial Lubricants Market Overview
    • South America Industrial Lubricants Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By Volume (Kilo Tons)
      • South America Industrial Lubricants Market Share & Forecast, 2016-2027
        • By Base Oil
          • Mineral Oil
          • Synthetic Oil
          • Bio-based Oil
        • By Product Type
          • Hydraulic Fluid
          • Metalworking Fluid
          • Gear Oil
          • Compressor Oil
          • Grease
          • Turbine Oil
          • Others (Transformer Oil, Refrigeration Oil, Textile Machinery Lubricants etc.)
        • By End-User Industry
          • Construction
          • Metal & Mining
          • Power Generation
          • Automotive
          • Chemical
          • Oil & Gas
          • Food Processing
          • Textile
          • Others
        • By Country
          • Brazil
          • Argentina
          • Rest of South America
        • Price-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on South America Industrial Lubricants Market
  1. Middle East & Africa Industrial Lubricants Market Overview
    • Middle East & Africa Industrial Lubricants Market Size & Forecast, 2016-2027
      • Demand
        • By Value (USD Million)
      • Consumption
        • By Volume (Kilo Tons)
      • Middle East & Africa Industrial Lubricants Market Share & Forecast, 2016-2027
        • By Base Oil
          • Mineral Oil
          • Synthetic Oil
          • Bio-based Oil
        • By Product Type
          • Hydraulic Fluid
          • Metalworking Fluid
          • Gear Oil
          • Compressor Oil
          • Grease
          • Turbine Oil
          • Others (Transformer Oil, Refrigeration Oil, Textile Machinery Lubricants etc.)
        • By End-User Industry
          • Construction
          • Metal & Mining
          • Power Generation
          • Automotive
          • Chemical
          • Oil & Gas
          • Food Processing
          • Textile
          • Others
        • By Country
          • Saudi Arabia
          • UAE
          • South Africa
          • Rest of Middle East & Africa
        • Price-Point Analysis
        • Manufacturer & Distributor List (Top 5)
        • Company Market Share (Top 3-5)
        • Economic Impact Study on Middle East & Africa Industrial Lubricants Market
  1. Competitor Analysis
    • Company Description
    • Financial Analysis
    • Key Products
    • Key Management Personnel
    • Contact Address
    • SWOT Analysis
    • Company Profile
      • Royal Dutch Shell
      • ExxonMobil
      • BP p.l.c.
      • Chevron Corporation
      • Total S.A.
      • PetroChina Company Limited
      • Idemitsu Kosan Co. Ltd.
      • Sinopec Limited
      • Fuchs Petrolub AG
      • Valvoline
      • Lukoil
      • Petronas
      • Gazprom Neft
      • Pertamina
      • Other Prominent Players