Global Industrial Lubricant Market 2022-2028

Global Industrial Lubricant Market 2022-2028

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 size is projected to grow by USD 10 billion from 2022 to 2028, registering a CAGR of 3 percent, according to a new report by Gen Consulting Company.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global industrial lubricant market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the industrial lubricant industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, base oil, end user, and region. The global market for industrial lubricant can be segmented by product: hydraulic fluid, metalworking fluid, gear oil, grease, compressor oil, turbine oil, others. The hydraulic fluid segment held the largest share of the global industrial lubricant market in 2021 and is anticipated to hold its share during the forecast period. Industrial lubricant market is further segmented by base oil: mineral oil, synthetic oil, bio-based oil. Globally, the mineral oil segment made up the largest share of the industrial lubricant market. Based on end user, the industrial lubricant market is segmented into: automotive (vehicle manufacturing), cement production, chemical, construction, food processing, metal and mining, oil and gas, power generation, textile, others. The construction segment was the largest contributor to the global industrial lubricant market in 2021. On the basis of region, the industrial lubricant market also can be divided into: Asia Pacific, Europe, North America, MEA (Middle East and Africa), Latin America. Asia Pacific is estimated to account for the largest share of the global industrial lubricant market.

By product:

• hydraulic fluid
• metalworking fluid
• gear oil
• grease
• compressor oil
• turbine oil
• others

By base oil:

• mineral oil
• synthetic oil
• bio-based oil

By end user:

• automotive (vehicle manufacturing)
• cement production
• chemical
• construction
• food processing
• metal and mining
• oil and gas
• power generation
• textile
• others

By region:

• Asia Pacific
• Europe
• North America
• MEA (Middle East and Africa)
• Latin America

The global industrial lubricant market report offers detailed information on several market vendors, including 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., among others.

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Historical & Forecast Period

This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report

• To analyze and forecast the market size of the global industrial lubricant market.
• To classify and forecast the global industrial lubricant market based on product, base oil, end user, region.
• To identify drivers and challenges for the global industrial lubricant market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global industrial lubricant market.
• To identify and analyze the profile of leading players operating in the global industrial lubricant market.

Why Choose This Report

• Gain a reliable outlook of the global industrial lubricant market forecasts from 2022 to 2028 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.