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.
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.
Industrial lubricants are used in several industries for carrying out the business effectively and smoothly. Manufacturing companies particularly use industrial lubricants to evade corrosion. Replacement of corroded parts can be expensive, particularly steel and iron parts. Industrial lubricants help in removing waste particles, transporting them to a filter. In order to help in reducing contaminants, lubricants are generally used with detergent additives.
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The Global Industrial Lubricants Market business vertical has been extensively categorized on the basis of product type, application gamut, end-user industries, and a competitive overview. The report inspects the current market scenario, its past performance, demand and supply ratios, production and consumption rates, sales, and numerous growth opportunities available in the market.
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)
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Based on the competitive landscape, the market report analyzes the key companies operating in the industry:
- Lubrizol Corporation
- ExxonMobil Corp
- Royal Dutch Shell
- Amsoil Inc.
- Valvoline International Inc.
- Kluber Lubrication
- Clariant
- Chevron Corp.
- Petronas Lubricant International
- Quaker Chemical Corp.
The report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
- 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)
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Key Benefits of Buying the Global Industrial Lubricants 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.
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