The global Industrial Lubricants Market size is expected to reach USD 72.08 billion by 2030, registering a CAGR of 3.9% according to a new report by Grand View Research, Inc. Improving PMI indices across the globe and resultant rise in production capacities are anticipated to boost the demand for industrial lubricants. Moreover, rising manufacturing activities are touted to spur investments in production machinery, thereby creating a strong growth potential for industrial lubricants.
High
consumption of general industrial oils generate significant revenue attributing
to the growth of industrial lubricants market. Related industries, such as
chemicals, unconventional energy and mining, are slated to witness considerable
growth. This trend is anticipated to further boost the product demand in
compressors, industrial engines, hydraulics, centrifuges, and bearings.
Companies are investing heavily in R&D for the development of innovative
products to gain competitive edge in the industry. There has been a shift in
trend towards use of bio-based raw materials due to rising awareness regarding
the need for emission reduction and energy conservation.
Related Press
Release@ Industrial Lubricants Market Report
List of Key Players of Industrial Lubricants Market
- 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.
- Castrol
- Blaser
Swisslube, Inc.
- Calumet
Specialty Products Partners, L.P.
- Petronas
Lubricant International
- Idemitsu
Kosan Co., Ltd.
- Yushiro
Chemical Industry Co., Ltd.
Industrial Lubricants Market Report Highlights
- Product
demand in Europe is expected to grow at a CAGR of 2.8% over the forecast
period owing to increasing industrial activities along with modernization
of industrial machinery
- Saudi Arabia
accounts for a major share of the global oil reserves. Heavy investments
in education & infrastructure development by the government to reduce
unemployment will have a positive impact on the regional market
- Companies
have undertaken strategies, such as mergers and acquisition, to enhance
their product offerings and strengthen regional presence
- Manufacturers
of industrial lubricants market are aiming to achieve optimum business
growth by implementing other strategies including joint venture, capacity
expansion, product development, and R&D investments
Industrial Lubricants Market Segmentation
Grand
View Research has segmented the industrial lubricants market based on product,
application, and region:
Industrial Lubricants Product Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- Process Oils
- General
Industrial Oils
- Metalworking
Fluids
- Industrial
Engine Oils
- Greases
- Others
Industrial Lubricants Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- Metalworking
- Textiles
- Energy
- Chemical
Manufacturing
- Food
Processing
- Hydraulic
- Others
Industrial Lubricants Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Switzerland
- France
- Italy
- Spain
- Netherlands
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast
Asia
- Oceania
- Kyrgyzstan
- Central
& South America
- Brazil
- Argentina
- Chile
- Colombia
- Middle East
& Africa
- Iran
- Oman
- UAE
- Qatar
- Kuwait
- Saudi
Arabia
- South
Africa
- Angola
- Nigeria
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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