Industrial Lubricants Market Share, Growth & Forecast [2031]
Industrial Lubricants Market Share, Growth & Forecast [2031]
Segments - Industrial Lubricants Market by Type (Conventional, Synthetic, Bio-based/re-refined), Products (Hydraulic Fluid and Metalworking Fluid), Applications (Construction, Metal & Mining, Power Generation, Food Processing) And Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-627
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| 156 Pages
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Report Description
Industrial Lubricants Market Outlook 2031
The global industrial lubricants market size was USD 68.82 Billion in 2022 and is anticipated to reach USD 90.58 Billion by 2031 expand at a CAGR of 3.1% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising demand for industrial lubricants in developed and developing economies.
Industrial lubricants are used to lessen the wear and tear of materials by reducing the friction between them. They are deployed to modify surface properties, regulate temperature, and remove debris. These lubricants avoid metal to metal contact amongst the tools or finished components. Industrial lubricants exhibit properties such as corrosion protection, demulsibility, and help to extend the equipment life.
It is used in variety of machineries to yield a high performance level, which in turn, aids to achieve high productivity and improve efficiency of machineries. There are two types of industrial lubricants, which are water-based and petroleum-based. Various applications of industrial lubricants include automotive, industrial machinery, mining, and hydraulic. The selection of lubricant depends on variety of factors such as its ability to expose itself to harsh chemicals and high temperature.
Industrial Lubricants Market Drivers, Restraints, Trends, and Opportunities
- Rapid growth in the food industry is expected to act as a major driving factor for the global industrial lubricants market.
- Growing automotive industry is expected to spur the market segment. .
- Rapid industrialization in the developing countries is anticipated to spur the market.
- Increasing drain intervals in industrial operations can hamper the market growth.
- Rising investments in research and development to improve the lubricants properties is speculated to create remunerative opportunities in the projected timeline.
Scope of The Industrial Lubricants Market Report
The report on the global Industrial Lubricants market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Industrial Lubricants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Types (Conventional, Synthetic, Bio-based/Re-refined), Products (Hydraulic Fluid and Metalworking Fluid), and Applications (Construction, Metal & Mining, Power Generation, and Food Processing) |
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Regional Scope |
North America, Latin America, Europe, Asia Pacific, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Shell International Petroleum Company Limited., Idemitsu Kosan Co. Ltd, Indian Oil Corporation Ltd, Petrochina Lubricant Company, and Exxonmobil Corporation |
Global Industrial Lubricants Market Segment Insights
Bio-based lubricants segment to account a large market share
Based on types, the market is segmented into conventional, synthetic, bio-based, and re-refined. The bio-based lubricants segment is anticipated to account for a large market share during the forecast period. This type of lubricant is used in engines, cables, suppressants, railroad flanges, and marine lubricants.
In the automotive industry, bio-based lubricants, also known as plant-based lubricants, are commonly used in two-stroke engine oils. Increasing demand for bio-based lubricants owing to the rising environmental concerns is expected to spur the market growth.
Hydraulic fluid segment to dominate the market
Based on the products, the market is segregated into hydraulic fluid and metalworking fluid. The hydraulic fluid is expected to lead the global industrial lubricants market during the forecast period. Increasing demand for hydraulic oil due to its low cost as compared to the other types and rising demand from the construction industry are expected to foster the segment growth.
Construction segment to account a considerable market share.
On the basis of applications, the market is segmented into construction, metal & mining, power generation, and food processing. Increasing demand for industrial lubricants in the construction industry owing to the rising construction activities, especially in the residential sector in India and China, is anticipated to proliferate the market segment.
The market in Asia Pacific to grow at a rapid pace
Based on regions, the market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. Rising demand for lubricants in heavy equipment for the construction activities, which include penetrating and coating wire rope lubricants, diesel fuel, engine oil, and bearing grease is expected to drive the regional market growth.
Segments
The global industrial lubricants market has been segmented on the basis of
Types
- Conventional
- Synthetic
- Bio-based/Re-refined
Products
- Hydraulic fluid
- Metalworking fluid
Applications
- Construction
- Metal & Mining
- Power generation
- Food processing
Regions
- North America
- Latin America
- Europe
- Asia pacific
- Middle East & Africa
Key Players
- Shell International Petroleum Company Limited
- Idemitsu Kosan Co. Ltd
- Indian Oil Corporation Ltd
- Petrochina Lubricant company
- Exxonmobil Corporation
Competitive Landscape
The key players in the Industrial lubricants market include Shell International Petroleum Company Limited., Idemitsu Kosan Co. Ltd, Indian Oil Corporation Ltd, Petrochina lubricant company, Exxonmobil Corporation.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Lubricants Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Industrial Lubricants Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Industrial Lubricants Market - Supply Chain
4.5. Global Industrial Lubricants Market Forecast
4.5.1. Industrial Lubricants Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Industrial Lubricants Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Industrial Lubricants Market Absolute $ Opportunity
5. Global Industrial Lubricants Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Industrial Lubricants Market Size and Volume Forecast by Types
5.3.1. Conventional
5.3.2. Synthetic
5.3.3. Bio-based/Re-refined
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Industrial Lubricants Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Industrial Lubricants Market Size and Volume Forecast by Applications
6.3.1. Construction
6.3.2. Metal & Mining
6.3.3. Power generation
6.3.4. Food processing
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Industrial Lubricants Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Industrial Lubricants Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Industrial Lubricants Demand Share Forecast, 2019-2026
8. North America Industrial Lubricants Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Industrial Lubricants Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Industrial Lubricants Market Size and Volume Forecast by Types
8.4.1. Conventional
8.4.2. Synthetic
8.4.3. Bio-based/Re-refined
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Industrial Lubricants Market Size and Volume Forecast by Applications
8.7.1. Construction
8.7.2. Metal & Mining
8.7.3. Power generation
8.7.4. Food processing
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Industrial Lubricants Demand Share Forecast, 2019-2026
9. Latin America Industrial Lubricants Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Industrial Lubricants Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Industrial Lubricants Market Size and Volume Forecast by Types
9.4.1. Conventional
9.4.2. Synthetic
9.4.3. Bio-based/Re-refined
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Industrial Lubricants Market Size and Volume Forecast by Applications
9.7.1. Construction
9.7.2. Metal & Mining
9.7.3. Power generation
9.7.4. Food processing
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Industrial Lubricants Demand Share Forecast, 2019-2026
10. Europe Industrial Lubricants Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Industrial Lubricants Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Industrial Lubricants Market Size and Volume Forecast by Types
10.4.1. Conventional
10.4.2. Synthetic
10.4.3. Bio-based/Re-refined
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Industrial Lubricants Market Size and Volume Forecast by Applications
10.7.1. Construction
10.7.2. Metal & Mining
10.7.3. Power generation
10.7.4. Food processing
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Industrial Lubricants Demand Share Forecast, 2019-2026
11. Asia Pacific Industrial Lubricants Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Industrial Lubricants Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Industrial Lubricants Market Size and Volume Forecast by Types
11.4.1. Conventional
11.4.2. Synthetic
11.4.3. Bio-based/Re-refined
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Industrial Lubricants Market Size and Volume Forecast by Applications
11.7.1. Construction
11.7.2. Metal & Mining
11.7.3. Power generation
11.7.4. Food processing
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Industrial Lubricants Demand Share Forecast, 2019-2026
12. Middle East & Africa Industrial Lubricants Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Industrial Lubricants Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Industrial Lubricants Market Size and Volume Forecast by Types
12.4.1. Conventional
12.4.2. Synthetic
12.4.3. Bio-based/Re-refined
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Industrial Lubricants Market Size and Volume Forecast by Applications
12.7.1. Construction
12.7.2. Metal & Mining
12.7.3. Power generation
12.7.4. Food processing
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Industrial Lubricants Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Industrial Lubricants Market: Market Share Analysis
13.2. Industrial Lubricants Distributors and Customers
13.3. Industrial Lubricants Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Shell International Petroleum Company Limited
13.4.2. Idemitsu Kosan Co. Ltd
13.4.3. Indian Oil Corporation Ltd
13.4.4. Petrochina Lubricant company
13.4.5. Exxonmobil Corporation
Methodology
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