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Global Industrial Lubricants Market Size study, by Product (Process Oils, General Industrial Oils, Metalworking Fluids, Industrial Engine Oils, Greases, Others), by Application (Metalworking, Textiles, Energy, Chemical Manufacturing, Food Processing, Hydraulic, Others) and Regional Forecasts 2022-2032

August 2024 | 200 pages | ID: G5435E210A45EN
Bizwit Research & Consulting LLP

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Global Industrial Lubricants Market was valued at approximately USD 55.24 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2032, reaching a market size of USD 74.3 billion by 2032. Industrial lubricants are essential for reducing friction, wear, and heat between mechanical components in a wide range of industrial applications. They enhance machinery performance and lifespan by minimizing direct metal-to-metal contact, preventing rust and corrosion, and dissipating heat. Common types of industrial lubricants include oils, greases, and pastes, each suited for specific uses such as hydraulic systems, gearboxes, bearings, and chains.
The rapid industrialization in developing countries, coupled with a rise in trade activities, is fuelling the demand for industrial lubricants. Rising investments in R&D and proper expansion channels are aiding the growth of key market players. Industries such as unconventional energy, chemicals, and mining are expected to witness significant growth, further boosting the demand for industrial lubricants in applications like compressors, hydraulics, industrial engines, centrifuges, and bearings. Also, manufacturers are increasingly relying on machinery to automate their production processes and expand their production capabilities to meet the rising demand for finished goods. Initiatives like evolving emission standards, improving engine technology, and norms for reducing carbon footprints in emerging economies such as China and India are key driving factors for the market over the forecast period.
Changing consumer lifestyles and the adoption of Western living standards have increased the demand for processed and frozen foods. Packaging line automation and adaptation to high-pressure operations with robotics are expected to foster the growth of the processed foods market. The rising importance of agro-processing is also expected to drive further developments in the industry. However, increasing concerns and stringent regulations over contamination and environmental pollution caused by synthetic lubricants, along with issues related to the disposal of used lubricants, pose significant challenges to market growth. Most additives used in lubricants are petrochemical derivatives, which pose serious threats to water pollution. Rising environmental concerns regarding the use, disposal, and recycling of lubricants are likely to restrain market growth.
Key regions considered for the global industrial lubricants market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific held the largest revenue share of 44.1% in 2023 and is expected to witness the fastest CAGR of over 4.0% from 2024 to 2032, driven by well-established end-use industries in emerging economies such as India, Indonesia, Thailand, and Malaysia. Rising awareness about the greater operating efficiency of industrial equipment after lubricant application is anticipated to fuel demand in the region. Demand for industrial lubricants in North America and Europe is expected to remain at a higher level despite relative stagnancy in industrial growth. Rising demand for oilfield chemicals due to drilling and exploration activities is expected to propel market growth in North America. The resurgence in industrial activities, along with the modernization of industrial machinery, is a key driving factor for determining European industrial lubricant demand over the forecast period.
Major market players included in this report are:
ExxonMobil Corp
Fuchs Group
The Lubrizol Corporation
Royal Dutch Shell
Phillips 66
Lucas Oil Products, Inc.
Amsoil, Inc.
Bel-Ray Co., Inc.
Total S.A.
Kluber Lubrication
Valvoline International, Inc.
Chevron Corp.
Clariant
Quaker Chemical Corp.
Houghton International, Inc.

The detailed segments and sub-segment of the market are explained below:
By Product:
• Process Oils
• General Industrial Oils
• Metalworking Fluids
• Industrial Engine Oils
• Greases
• Others
By Application:
• Metalworking
• Textiles
• Energy
• Chemical Manufacturing
• Food Processing
• Hydraulic
• Others
By Region:
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
Latin America
• Brazil
• Mexico
Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA
Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.
CHAPTER 1. GLOBAL INDUSTRIAL LUBRICANTS MARKET EXECUTIVE SUMMARY

1.1. Global Industrial Lubricants Market Size & Forecast (2022- 2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Product
  1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL INDUSTRIAL LUBRICANTS MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL INDUSTRIAL LUBRICANTS MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Rapid Industrialization in Developing Countries
  3.1.2. Rising Demand for Efficient Machinery Operation
  3.1.3. Increasing Investments in R&D
3.2. Market Challenges
  3.2.1. Environmental Concerns and Regulations
  3.2.2. Disposal of Used Lubricants
3.3. Market Opportunities
  3.3.1. Growth in Emerging Markets
  3.3.2. Innovations in Lubricant Formulations

CHAPTER 4. GLOBAL INDUSTRIAL LUBRICANTS MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL INDUSTRIAL LUBRICANTS MARKET SIZE & FORECASTS BY PRODUCT 2022-2032

5.1. Segment Dashboard
5.2. Global Industrial Lubricants Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  5.2.1. Process Oils
  5.2.2. General Industrial Oils
  5.2.3. Metalworking Fluids
  5.2.4. Industrial Engine Oils
  5.2.5. Greases
  5.2.6. Others

CHAPTER 6. GLOBAL INDUSTRIAL LUBRICANTS MARKET SIZE & FORECASTS BY APPLICATION 2022-2032

6.1. Segment Dashboard
6.2. Global Industrial Lubricants Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
  6.2.1. Metalworking
  6.2.2. Textiles
  6.2.3. Energy
  6.2.4. Chemical Manufacturing
  6.2.5. Food Processing
  6.2.6. Hydraulic
  6.2.7. Others

CHAPTER 7. GLOBAL INDUSTRIAL LUBRICANTS MARKET SIZE & FORECASTS BY REGION 2022-2032

7.1. North America Industrial Lubricants Market
  7.1.1. U.S. Industrial Lubricants Market
    7.1.1.1. Product breakdown size & forecasts, 2022-2032
    7.1.1.2. Application breakdown size & forecasts, 2022-2032
  7.1.2. Canada Industrial Lubricants Market
7.2. Europe Industrial Lubricants Market
  7.2.1. U.K. Industrial Lubricants Market
  7.2.2. Germany Industrial Lubricants Market
  7.2.3. France Industrial Lubricants Market
  7.2.4. Spain Industrial Lubricants Market
  7.2.5. Italy Industrial Lubricants Market
  7.2.6. Rest of Europe Industrial Lubricants Market
7.3. Asia-Pacific Industrial Lubricants Market
  7.3.1. China Industrial Lubricants Market
  7.3.2. India Industrial Lubricants Market
  7.3.3. Japan Industrial Lubricants Market
  7.3.4. Australia Industrial Lubricants Market
  7.3.5. South Korea Industrial Lubricants Market
  7.3.6. Rest of Asia Pacific Industrial Lubricants Market
7.4. Latin America Industrial Lubricants Market
  7.4.1. Brazil Industrial Lubricants Market
  7.4.2. Mexico Industrial Lubricants Market
  7.4.3. Rest of Latin America Industrial Lubricants Market
7.5. Middle East & Africa Industrial Lubricants Market
  7.5.1. Saudi Arabia Industrial Lubricants Market
  7.5.2. South Africa Industrial Lubricants Market
  7.5.3. Rest of Middle East & Africa Industrial Lubricants Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. ExxonMobil Corp
  8.3.2. Fuchs Group
  8.3.3. The Lubrizol Corporation
  8.3.4. Royal Dutch Shell
  8.3.5. Phillips
  8.3.6. Lucas Oil Products, Inc.
  8.3.7. Amsoil, Inc.
  8.3.8. Bel-Ray Co., Inc.
  8.3.9. Total S.A.
  8.3.10. Kluber Lubrication
  8.3.11. Valvoline International, Inc.
  8.3.12. Chevron Corp.
  8.3.13. Clariant
  8.3.14. Quaker Chemical Corp.
  8.3.15. Houghton International, Inc.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Industrial Lubricants market, report scope
TABLE 2. Global Industrial Lubricants market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Industrial Lubricants market estimates & forecasts by Product 2022-2032 (USD Billion)
TABLE 4. Global Industrial Lubricants market estimates & forecasts by Application 2022-2032 (USD Billion)
TABLE 5. Global Industrial Lubricants market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. Global Industrial Lubricants market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. Global Industrial Lubricants market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Global Industrial Lubricants market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Industrial Lubricants market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Industrial Lubricants market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Industrial Lubricants market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Industrial Lubricants market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Industrial Lubricants market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global Industrial Lubricants market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Industrial Lubricants market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. Industrial Lubricants market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. Industrial Lubricants market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada Industrial Lubricants market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada Industrial Lubricants market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada Industrial Lubricants market estimates & forecasts by segment 2022-2032 (USD Billion)
This list is not complete; the final report contains more than 100 tables. The list may be updated in the final deliverable.

LIST OF FIGURES

FIG 1. Global Industrial Lubricants market, research methodology
FIG 2. Global Industrial Lubricants market, market estimation techniques
FIG 3. Global market size estimates & forecast methods
FIG 4. Global Industrial Lubricants market, key trends 2023
FIG 5. Global Industrial Lubricants market, growth prospects 2022-2032
FIG 6. Global Industrial Lubricants market, Porter's 5 force model
FIG 7. Global Industrial Lubricants market, PESTEL analysis
FIG 8. Global Industrial Lubricants market, value chain analysis
FIG 9. Global Industrial Lubricants market by product, 2022 & 2032 (USD Billion)
FIG 10. Global Industrial Lubricants market by application, 2022 & 2032 (USD Billion)
FIG 11. Global Industrial Lubricants market by product, 2022 & 2032 (USD Billion)
FIG 12. Global Industrial Lubricants market by application, 2022 & 2032 (USD Billion)
FIG 13. Global Industrial Lubricants market by region, 2022 & 2032 (USD Billion)
FIG 14. Global Industrial Lubricants market, regional snapshot 2022 & 2032
FIG 15. North America Industrial Lubricants market 2022 & 2032 (USD Billion)
FIG 16. Europe Industrial Lubricants market 2022 & 2032 (USD Billion)
FIG 17. Asia-Pacific Industrial Lubricants market 2022 & 2032 (USD Billion)
FIG 18. Latin America Industrial Lubricants market 2022 & 2032 (USD Billion)
FIG 19. Middle East & Africa Industrial Lubricants market 2022 & 2032 (USD Billion)
FIG 20. Global Industrial Lubricants market, company market share analysis (2023)
This list is not complete; the final report contains more than 50 figures. The list may be updated in the final deliverable.


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