Global Industrial Lubricants Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
MarketResearch.biz delivers in-depth insights on the global industrial lubricants market in its upcoming report titled, “Global Industrial Lubricants Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global industrial lubricants market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The industrial lubricants market report has been segmented on the basis of product, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Industrial lubricants are fluids used in machinery to lessen the wear and tear of materials and to reduce friction. Industrial lubricants can be either petroleum based or water based. The primary function of the industrial lubricant is to avoid metal to metal contact amongst the tools or finished components. Industrial lubricants exhibit good corrosion protection properties and help extend the equipment life.
On the basis of product, the industrial engine oils segment is expected to grow at a steady rate over the forecast period. Industrial engine oil is majorly used in generators, mining equipment, construction equipment, irrigation pumps, and industrial diesel engine. Increase in usage of machinery is expected to boost the segment growth over the forecast period. Moreover, companies are involved in the development of engine oils with lower frictional coefficients and improved lubricity at higher temperatures, which in turn is expected to fuel market growth over the forecast period.
On the basis of application, the chemical manufacturing segment is estimated to hold major revenue share in the global industrial lubricants market. Processing equipment used in chemical manufacturing often subject to continuous operations, extreme temperatures, and contamination threats from water and chemicals. Lubricants help in lowering of friction, wear and tear, corrosion from such elements, and reducing servicing downtime. Moreover, increasing production of chemicals owing to growing demand from various end-use industries is anticipated to drive market growth.
Asia Pacific market is estimated to hold major revenue share in the global industrial lubricants market, in 2017 and is expected to maintain its dominance over the forecast period. Rapid industrialization coupled with positive outlook on economic activities are expected to be major factors driving market growth in the region. The Asia Pacific accounts for largest revenue share contribution of the target market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively. Countries in the region such as China, India, and Vietnam are emerging as manufacturing hubs for electronics, automobiles, chemicals, textiles, and consumer goods, which in turn is expected to boost the target market over the forecast period.
Market segmentation and key players operating in the global industrial lubricants market:
- Process Oils
- General Industrial Oils
- Metalworking Fluids
- Industrial Engine Oils
- Turbine Lubricants
- Others (textile machinery oils, greases, and processing lubricants)
- Food Processing
- Chemicals Manufacturing
- Others (construction, mining, cement manufacturing, and pharmaceuticals)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Royal Dutch Shell PLC.
- The Lubrizol Corporation
- Exxon Mobil Corporation
- Fuchs Group
- Chevron Corporation
- PetroChina Company Limited
- Lucas Oil Products, Inc.
- Bel-Ray Co., Inc.
- Idemitsu Kosan Co. Ltd.
- BP P.L.C.
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