Industrial Lubricants Market is estimated to be US$ 81.78 billion by 2030 with a CAGR of 2.50% during the forecast period

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Published Date: May 2024

Lubricants used in heavy machineries that reduce friction and minimize wear and tear are known as industrial lubricants. Industrial lubricants are used to avoid direct metal to metal contact in machineries. Apart from this, industrial lubricants exhibit properties such as corrosion resistance and are also instrumental in increasing overall life of the machinery. Industrial lubricants are primarily defined as compounds such as greases, oils, as well as fluids used in the heavy machinery in order to reduce friction and reduce their wear and tear. Industrial lubricants are used to avoid metal to metal contact in the machines owing to its excellent properties such as corrosion resistance and ability to increase overall life of the machinery.Industrial Lubricants Market accounted for US$ 64.20 billion in 2020 and is estimated to be US$ 81.78 billion by 2030 and is anticipated to register a CAGR of 2.50%.

The report “Industrial Lubricants Market, By Product Type (Process Oils, General Industrial Oils, Metalworking Fluids, Industrial Engine Oils, and Others), By Application (Metal Working, Textiles, Energy, Chemical Manufacturing, Food Processing, and Others) and Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030”

Key Highlights:

In 2020, Bharat Petroleum Corporation Ltd (BPCL), which controls around 12 per cent of the lubes market with its Mak-branded lubricants, launched two high-grade synthetic lubes for premium cars and bikes.

Analyst View:

High demand for advanced industrial lubricants from various end-use industries coupled with increasing investments into R&D of advanced lubricants are major factors driving growth of the global market currently. Moreover, rapid industrialization in many emerging economies is also expected to boost demand for industrial lubricants which in-turn is expected to support market growth over the forecast period. However, stringent government and environmental regulations for use of specific lubricants is a major factor hampering growth of the global maker currently.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Industrial Lubricants Market, By Product Type (Process Oils, General Industrial Oils, Metalworking Fluids, Industrial Engine Oils, and Others), By Application (Metal Working, Textiles, Energy, Chemical Manufacturing, Food Processing, and Others) and Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030”

Key Market Insights from the report:

Industrial Lubricants Market accounted for US$ 64.20 billion in 2020 and is estimated to be US$ 81.78 billion by 2030 and is anticipated to register a CAGR of 2.50%. The Industrial Lubricants Market report segments the market on the basis of product type, application, and region.

By Product Type, the Industrial Lubricants Market is segmented into Process Oils, General Industrial Oils, Metalworking Fluids, Industrial Engine Oils, and Others.
By Application, the Industrial Lubricants Market is segmented into Metal Working, Textiles, Energy, Chemical Manufacturing, Food Processing, and Others.
By region, the Industrial Lubricants Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape:

Some of the prominent players operating in the industrial lubricants market include Royal Dutch Shell Plc., Exxonmobil Corporation, BP Plc., Chevron Corporation, Total S.A., Petrochina Company Limited, Sinopec Limited, Lukoil, and Fuchs Petrolub AG.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered