Industrial Lubricants Market

Industrial Lubricants Market

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Riddhesh

Author:

Riddhesh Dani

Harneet

Fact-checked by:

Harneet Meher

Shruti

Editor:

Shruti Bhat

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.

Industrial Lubricants Market Outlook

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.

Attributes

Details

Report Title

Industrial Lubricants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Conventional, Synthetic, Bio-based/Re-refined), Products (Hydraulic Fluid and Metalworking Fluid), and Applications (Construction, Metal & Mining, Power Generation, and Food Processing)

Regional Scope

North America, Latin America, Europe, Asia Pacific, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

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.

Industrial Lubricants Market Types

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.

Industrial Lubricants Market Applications

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.

Industrial Lubricants Market Regions

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

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.

 Industrial Lubricants Market Key Players

1. Executive Summary
2. 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

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