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Global Industrial Lubricant Market 2022
A lubricant is a substance used to facilitate relative motion of solid bodies by minimising friction and wear between interacting surfaces. The main function of lubricant is to introduce a shearable or viscous layer between sliding surfaces. As the solid to solid contacts are replaced by the solid to lubricant contact, the shear strength between the interfaces is reduced. Industrial lubricants are designed to protect machinery and equipment against wear and tear, reduce downtime, prolong service intervals, lower maintenance costs, increase efficiency, and boost the productivity. The global industrial lubricant market is poised to grow by US$ 10.5 billion during 2022-2028, progressing at a CAGR of 3% during the forecast period, according to data and analytics company StrategyHelix.
The report provides up-to-date market size data for period 2018-2021 and forecast to 2028 covering key market aspects like sales value and volume for industrial lubricant. The global industrial lubricant market is segmented on the basis of product, base oil, end user, and region. By product, the global industrial lubricant market has been segmented into hydraulic fluid, metalworking fluid, gear oil, grease, compressor oil, turbine oil, others. According to the research, the hydraulic fluid segment had the largest share in the global industrial lubricant market. Based upon base oil, the global industrial lubricant market is categorized into mineral oil, synthetic oil, bio-based oil. In 2021, the mineral oil segment made up the largest share of revenue generated by the industrial lubricant market. On the basis of end user, the global industrial lubricant market has been segmented into automotive (vehicle manufacturing), cement production, chemical, construction, food processing, metal and mining, oil and gas, power generation, textile, others. Among these, the construction segment was accounted for the highest revenue generator in 2021. Geographically, the global industrial lubricant market is segmented into Asia Pacific, Europe, North America, MEA (Middle East and Africa), Latin America. Asia Pacific captured the largest share of the market in 2021.
The global industrial lubricant market is highly competitive. The industrial lubricant market is dominated by key players, which are BP plc, Chevron Corporation, China Petroleum & Chemical Corporation (Sinopec), ENEOS Holdings Inc., Exxon Mobil Corporation, Fuchs Petrolub SE, Gazprom Neft PJSC, Hindustan Petroleum Corporation Limited (HPCL), Idemitsu Kosan Company Ltd., Indian Oil Corporation Limited (IOCL), PetroChina Company Limited, Petroleo Brasileiro S.A., Petroliam Nasional Berhad (PETRONAS), PJSC Lukoil, PT Pertamina (Persero), Royal Dutch Shell plc, The Phillips 66 Company, Total SA, Valvoline Inc.
The report is an invaluable resource for companies and organizations active in this industry. It provides a cohesive picture of the industrial lubricant market to help drive informed decision making for industry executives, policy makers, academic, and analysts.
Product: hydraulic fluid, metalworking fluid, gear oil, grease, compressor oil, turbine oil, others
Base oil: mineral oil, synthetic oil, bio-based oil
End user: automotive (vehicle manufacturing), cement production, chemical, construction, food processing, metal and mining, oil and gas, power generation, textile, others
Region: Asia Pacific, Europe, North America, MEA (Middle East and Africa), Latin America
Years considered: this report covers the period 2018 to 2028
Key Benefits for Stakeholders
– Get a comprehensive picture of the global industrial lubricant market
– Pinpoint growth sectors and trends for investment
Table of Contents
Part 1. Introduction
– Scope of the study
– Study period
– Geographical scope
– Research methodology
Part 2. Industrial lubricant market overview
Part 3. Market breakdown by product
– Hydraulic fluid
– Metalworking fluid
– Gear oil
– Compressor oil
– Turbine oil
Part 4. Market breakdown by base oil
– Mineral oil
– Synthetic oil
– Bio-based oil
Part 5. Market breakdown by end user
– Automotive (vehicle manufacturing)
– Cement production
– Food processing
– Metal and mining
– Oil and gas
– Power generation
Part 6. Market breakdown by region
– Asia Pacific
– North America
– MEA (Middle East and Africa)
– Latin America
Part 7. Key companies
– BP plc
– Chevron Corporation
– China Petroleum & Chemical Corporation (Sinopec)
– ENEOS Holdings, Inc.
– Exxon Mobil Corporation
– Fuchs Petrolub SE
– Gazprom Neft PJSC
– Hindustan Petroleum Corporation Limited (HPCL)
– Idemitsu Kosan Company, Ltd.
– Indian Oil Corporation Limited (IOCL)
– PetroChina Company Limited
– Petroleo Brasileiro S.A.
– Petroliam Nasional Berhad (PETRONAS)
– PJSC Lukoil
– PT Pertamina (Persero)
– Royal Dutch Shell plc
– The Phillips 66 Company
– Total SA
– Valvoline Inc.