The global Industrial Lubricants Marketis expected to grow at the highest CAGR of 4.8% from 2020 – 2027 and the market is projected to generate $ 80.20 billion by 2027.
Precedence Research, Recently Published Report on “Industrial Lubricants Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
Precedence Research, Recently Published Report on “Industrial Lubricants Market (By Product: General Industrial Oils, Process Oils, Industrial Engine Oils, Metalworking Fluids, and Other Industrial Lubricants; By Application: Textiles, Metalworking, Energy, Industrial Gases, Chemical Manufacturing, Hydraulic, and Food Processing) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”.
Lubricants are the important part of a machine that ensures smooth functioning of different parts of a machine. Lubricants are generally explained as compounds such as greases, oils, and fluids that provide friction between machine parts. Their main function is to avoid metal-to-metal contact in dyes as well as finished component tooling. Further, the lubricants used in the industries expected to reduce friction, cool parts, minimize wear, disperse contaminants, transmit power, prevent corrosion, and act as a sealant.
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Growth Factors
Major factors that are accounted to drive the industrial lubricants include shifting consumer preference for processed and frozen foods along with increasing demand for green energy generation methods. Hectic lifestyle as well as significant impact of western culture on eating habits has fostered the demand for frozen foods. In addition, an alarming rise in the pollution across the globe coupled with fast depletion of natural resources such as coal and petroleum expected to thrive the demand for green energy, thereby propel the growth of industrial lubricants over the upcoming years.
Additionally, significant growth in the industry automation across various part of the world that has notably fostered the replacement and upgradation of machine parts expected to drive the market for industrial lubricants over the coming years. This trend is likely to expand the production capabilities of the manufacturers along with the production time.
However, rising rate of contamination & environmental pollution because of the use of synthetic lubricants along with stringent regulations for the same expected to hamper the market growth. In addition, disposal of these lubricants is another major factor for concern. Most of the additives used during the manufacturing of industrial lubricants are petrochemical derivatives that pose serious threat to the water bodies when disposed in them. Hence, increasing concern for environmental protection pertaining to the disposal, use, and recycling of lubricants restrict the market growth.
Report Highlights
- North America and Europe predicted to maintain their dominance in terms of demand volume for the industrial lubricants despite of the stagnancy in the industrial growth
- The Asia Pacific projected to be the fastest growing market during the analysis period due to well-established application industries across developing countries
- In 2019, process oil holds the highest market share in the global industrial lubricants market in terms of both value and volume among other product types due to its large applications in various industries
- Chemical manufacturing emerged as the largest application segment in 2019 due to increased demand for chemical oils in production of fertilizer, pharmaceutical & cosmetics products, and industrial gas
- The metalworking application segment is likely to register rapid growth over the upcoming years on account of rising demand for metal products in applications such as building and machinery
Regional Snapshots
The Asia Pacific emerged as the most opportunistic market for industrial lubricant during the analysis period. Prime factors supporting the escalating growth of the region are shifting of manufacturing bases towards Asian countries, changing consumer preference towards processed & packaged foods, largest chemical market, and prominent demand for fertilizers and pesticides from agriculture sector. Apart from these factors, the region has well-established industries that include textile, agriculture, food processing, chemical, energy and many more that triggers the demand for the industrial lubricants over the upcoming years.
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North America and Europe are the prominent revenue contributors in the global industrial lubricants market and anticipated to continue their dominance over the forthcoming years. The growth of the regions is mainly attributable to the renaissance in industrial activities coupled with increasing adoption of modern industrial machineries. Furthermore, increasing drilling and exploration activities across the regions that significantly triggers the demand for oilfield chemicals projected to drive the market for industrial lubricants in the regions.
Key Players & Strategies
The key market players in the global industrial lubricants market witness intense competition owing to large number of payers present on both regional as well as global level. Because of the same, the global market for industrial lubricants is highly fragmented in nature. To sustain in the highly competitive market these industry participants are significantly investing in the Research & Development (R&D) activity. Shifting trend towards bio-based lubricants along with the increasing need for emission reduction expected to open new horizon for these market players for investment and growth. Apart from the investment, merger & acquisition, partnership, and collaboration are the other main strategies adopted by the industry players to retain their position in the global market.
Some of the key players operating in the market are Fuchs Group, Exxonmobil Corp, The Lubrizol Corporation, Phillips 66, Royal Dutch Shell, Lucas Oil Products, Inc., Bel-Ray Co., Inc., Amsoil, Inc., Kluber Lubrication, and Chevron Corp. among others.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Industrial Lubricants Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Industrial Lubricants Market
5.1. Covid-19: Industrial Lubricants Industry Impact
5.2. Industrial Lubricants Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and Industrial Lubricants Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Industrial Lubricants Manufacturers to deal with Covid-19 Pandemic Scenario
Chapter 6. Industrial Lubricants Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Increase in Automation across Various Industries
6.1.1.2. Increasing Demand for Processed Food
6.1.2. Market Restraints
6.1.2.1. Reduced Application of Metal Parts by Auto Makers
6.1.2.2. High Cost of Bio-based Lubricants
6.1.3. Market Opportunities
6.1.3.1. Increasing Preference for Bio-based Lubricants
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Global Industrial Lubricants Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Industrial Lubricants Market Revenue by Manufacturer (2015-2020)
7.1.1.2. Industrial Lubricants Market Revenue Market Share by Manufacturer (2015-2020)
7.1.1.3. Industrial Lubricants Market Production by Manufacturer (2015-2020)
7.1.1.4. Industrial Lubricants Market Production Market Share by Manufacturer (2015-2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Capacity Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Manufacturers Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Industrial Lubricants Market, By Product
8.1. Industrial Lubricants Market, by Product, 2016-2027
8.1.1. General Industrial Oils
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.1.2. Market Production and Forecast (2016-2027)
8.1.2. Process Oils
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.2.2. Market Production and Forecast (2016-2027)
8.1.3. Industrial Engine Oils
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.3.2. Market Production and Forecast (2016-2027)
8.1.4. Metalworking Fluids
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.4.2. Market Production and Forecast (2016-2027)
8.1.5. Other Industrial Lubricants
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.5.2. Market Production and Forecast (2016-2027)
Chapter 9. Global Industrial Lubricants Market, By Application
9.1. Industrial Lubricants Market, by Application, 2016-2027
9.1.1. Textiles
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.1.2. Market Consumption and Forecast (2016-2027)
9.1.1.3. Non-woven Textiles
9.1.1.4. Textile Weaving
9.1.1.5. Textile Composites
9.1.1.6. Textile Finishing
9.1.1.7. Other Textile Applications
9.1.2. Metalworking
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.2.2. Market Consumption and Forecast (2016-2027)
9.1.2.3. Metal Cutting
9.1.2.4. Metal Forming
9.1.2.5. Metal Joining
9.1.2.6. Industrial Heat Exchangers
9.1.2.7. Metalworking Electronics
9.1.2.8. Other Metalworking Applications
9.1.3. Energy
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.3.2. Market Consumption and Forecast (2016-2027)
9.1.3.3. Pipelines
9.1.3.4. Transformers
9.1.3.5. Ocean Energy
9.1.3.6. Liquefied Natural Gas (LNG)
9.1.3.7. Other Energy Applications
9.1.4. Industrial Gases
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.4.2. Market Consumption and Forecast (2016-2027)
9.1.4.3. Polymers
9.1.4.4. Fertilizers
9.1.4.5. Other Chemicals Manufacturing
9.1.5. Chemical Manufacturing
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.5.2. Market Consumption and Forecast (2016-2027)
9.1.6. Hydraulic
9.1.6.1. Market Revenue and Forecast (2016-2027)
9.1.6.2. Market Consumption and Forecast (2016-2027)
9.1.6.3. Bearings
9.1.6.4. Compressors
9.1.6.5. Other Hydraulic Applications
9.1.7. Food Processing
9.1.7.1. Market Revenue and Forecast (2016-2027)
9.1.7.2. Market Consumption and Forecast (2016-2027)
9.1.7.3. Frozen Food
9.1.7.4. Beverages
9.1.7.5. Canned Food
9.1.7.6. Bakery
9.1.7.7. Processed Potatoes
9.1.7.8. Cocoa & Chocolate
9.1.7.9. Other Food Applications
Chapter 10. Global Industrial Lubricants Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Production Forecast by Product (2016-2027)
10.1.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.1.3. U.S
10.1.3.1. Market Revenue and Production Forecast (2016-2027)
10.1.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.1.4. Canada
10.1.4.1. Market Revenue and Production Forecast (2016-2027)
10.1.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Production Forecast by Product (2016-2027)
10.2.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.2.3. UK
10.2.3.1. Market Revenue and Production Forecast (2016-2027)
10.2.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.4. Germany
10.2.4.1. Market Revenue and Production Forecast (2016-2027)
10.2.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.5. France
10.2.5.1. Market Revenue and Production Forecast (2016-2027)
10.2.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.6. Rest of EU
10.2.6.1. Market Revenue and Production Forecast (2016-2027)
10.2.6.2. Market Revenue and Consumption Forecast (2016-2027)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue and Production Forecast by Product (2016-2027)
10.3.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.3.3. China
10.3.3.1. Market Revenue and Production Forecast (2016-2027)
10.3.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Production Forecast (2016-2027)
10.3.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.5. Japan
10.3.5.1. Market Revenue and Production Forecast (2016-2027)
10.3.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Production Forecast (2016-2027)
10.3.6.2. Market Revenue and Consumption Forecast (2016-2027)
10.4. LATAM
10.4.1. Market Revenue and Production Forecast by Product (2016-2027)
10.4.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.4.3. Brazil
10.4.3.1. Market Revenue and Production Forecast (2016-2027)
10.4.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue and Production Forecast (2016-2027)
10.4.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue and Production Forecast by Product (2016-2027)
10.5.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.5.3. GCC
10.5.3.1. Market Revenue and Production Forecast (2016-2027)
10.5.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.4. North Africa
10.5.4.1. Market Revenue and Production Forecast (2016-2027)
10.5.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.5. South Africa
10.5.5.1. Market Revenue and Production Forecast (2016-2027)
10.5.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue and Production Forecast (2016-2027)
10.5.6.2. Market Revenue and Consumption Forecast (2016-2027)
Chapter 11. Company Profiles
11.1. Fuchs Group
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Application
11.1.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.1.4. Recent Developments and Strategies
11.2. Exxonmobil Corp
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Application
11.2.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.2.4. Recent Developments and Strategies
11.3. The Lubrizol Corporation
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Application
11.3.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.3.4. Recent Developments and Strategies
11.4. Phillips 66
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Application
11.4.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.4.4. Recent Developments and Strategies
11.5. Royal Dutch Shell
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Application
11.5.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.5.4. Recent Developments and Strategies
11.6. Lucas Oil Products, Inc.
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Application
11.6.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.6.4. Recent Developments and Strategies
11.7. Bel-Ray Co., Inc.
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Application
11.7.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.7.4. Recent Developments and Strategies
11.8. Amsoil, Inc.
11.8.1. Company Overview, Business Information, Regional Presence
11.8.2. Product Portfolio Analysis
11.8.2.1. Product Details, Specification, Application
11.8.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.8.4. Recent Developments and Strategies
11.9. Kluber Lubrication
11.9.1. Company Overview, Business Information, Regional Presence
11.9.2. Product Portfolio Analysis
11.9.2.1. Product Details, Specification, Application
11.9.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.9.4. Recent Developments and Strategies
11.10. Chevron Corp.
11.10.1. Company Overview, Business Information, Regional Presence
11.10.2. Product Portfolio Analysis
11.10.2.1. Product Details, Specification, Application
11.10.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.10.4. Recent Developments and Strategies
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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