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Global Industrial Lubricants Market - Forecasts from 2018 to 2023

  • ID: 4463663
  • Report
  • Region: Global
  • 118 pages
  • Knowledge Sourcing Intelligence LLP
until Dec 31st 2019
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  • Aramco
  • BP plc
  • Chevron Corporation
  • ConocoPhillips
  • Eni S.p.a
  • ExxonMobil Corporation
  • MORE
The global industrial lubricants market is projected to witness a CAGR of 2.67% during the forecast period to reach the total market size of US$71.413 billion by 2023, increasing from US$60.964 billion in 2017. Rapid industrialization in emerging economies, increase in process-automation in manufacturing units, rising demand for automobiles and increased trade are some of the major factors driving the global industrial lubricants market. The automation of manufacturing units leads to an increase in efficiency and productivity of machines which further increases the machinery run time resulting in a higher demand for industrial lubricants to prevent equipment failure. However, strict environmental regulation acts as a major restraint in the industrial lubricants market.

By Base oil

On the basis of base oil, the industrial lubricants market can be segmented into mineral oil lubricants, bio-based oil lubricants, and synthetic oil lubricants. Synthetic oil lubricants contribute to a significant share in the market owing to its high performance in extreme conditions and better viscosity index. However, the major demerit of the synthetic oil lubricants is its high costs and their environmental implications. Mineral oil lubricants are least expensive and are derived from crude oil. The growing environmental concerns and increasing depletion of crude oil resources have led to an increased demand for bio-based oil lubricants which are expected to have a lighter environmental footprint.

By Type

By type, the global industrial lubricants market can be segmented as grease, gear lubricants, hydraulic lubricants, compressor lubricants, turbine lubricants, metalworking fluids, and others. Increased consumption of metal in the automotive industry has resulted in a growth of metalworking fluids. Compressor lubricants are widely used in manufacturing facilities to cool, seal and lubricate internal components of machinery. There has also been an increase in the use of grease in the mining industry. The rising industrial base will fuel the demand for industrial lubricants.

By Industry

On the basis of industry, the industrial lubricants market can be segmented into Marine, Automotive, Industrial, Transportation, Textiles, Chemicals, Power Generation, Mining, Food processing and others. Rising demand for low viscosity fluid in the automotive sector has resulted in an increased demand for grease in industries to maintain smooth functioning of machinery. Power generation industry is also expected to witness a boost in growth due to rise in demand for energy globally. Chemical manufacturing sector involves a significant application of industrial lubricants due to the demand for nonreactive and sustainable processing fluids. To replace conventional lubricants the transportation industry is increasingly adopting bio-based lubricants. The shift can be primarily attributed to stringent vehicle emission regulations.

By Geography

Asia Pacific region along with middle east and Africa are the fastest growing economies in the industrial lubrication market. Rising population, increasing disposable income, rising awareness and demand for superior quality products will increase the demand for industrial lubricants in these regions. Various initiatives are being adopted in emerging economies like India and China to improve engine quality, to regulate vehicle emission standards and thus to move towards more environmentally friendly products. North America and Europe serve as mature markets and thereby present various opportunities in research and development.

Competitive Landscape

The global industrial lubricants market is competitive owing to the presence of well diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.

Some of the major players discussed in the report are ExxonMobil Corporation, Royal Dutch Shell Plc, Total, and BP Plc among others.


The global industrial lubricants market has been segmented by base oil, by type, by end users, and by geography.

By Base oil
Bio based oil lubricants
Synthetic oil lubricants
Mineral oil lubricants

By Type
Gear Lubricants
Hydraulic lubricants
Compressor lubricants
Turbine lubricants
Metal working fluids
Others (Processing oils, Textile machinery oils)

By End User
Power generation
Food processing

By Geography
North America
United States
Asia Pacific
Middle East and Africa
Saudi Arabia
South America
Note: Product cover images may vary from those shown
2 of 4


  • Aramco
  • BP plc
  • Chevron Corporation
  • ConocoPhillips
  • Eni S.p.a
  • ExxonMobil Corporation
  • MORE
1. Introduction
1.1. Market Definition
1.2. Scope of the Study
1.3. Currency
1.4. Assumptions
1.5. Base, and Forecast Years Timeline

2. Research Methodology
2.1. Research Design
2.2. Secondary Sources
2.3. Validation

3. Key Findings Of The Study

4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunities and Market Trends
4.4. Market Segmentation
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Industry Value Chain Analysis
4.7. Industry Regulations

5. Global Industrial Lubricants Market Forecast By Base oil (US$ billion)
5.1. Introduction
5.2. Bio based oil
5.3. Mineral Oil Lubricants
5.4. Synthetic Oil Lubricants

6. Global Industrial Lubricants Market Forecast By Type (US$ billion)
6.1. Introduction
6.2. Grease
6.3. Gear Lubricants
6.4. Hydraulic lubricants
6.5. Compressor Lubricants
6.6. Turbine Lubricants
6.7. Metal Working Fluids
6.8. Others

7. Global Industrial Lubricants Market Forecast By Industry (US$ billion)
7.1. Introduction
7.2. Marine
7.3. Automotive
7.4. Industrial
7.5. Transportation
7.6. Textiles
7.7. Chemicals
7.8. Power Generation
7.9. Mining
7.10. Food Processing
7.11. Others

8. Global Industrial Lubricants Market Forecast By Geography (US$ billion)
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.2.4. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. Italy
8.3.4. Spain
8.3.5. UK
8.3.6. Others
8.4. Asia Pacific
8.4.1. India
8.4.2. China
8.4.3. Japan
8.4.4. Australia
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Israel
8.5.4. Others
8.6. South America
8.6.1. Brazil
8.6.2. Argentina
8.6.3. Others

9. Competitive intelligence
9.1. Market Share Analysis
9.2. Strategies of Key Players
9.3. Recent Investments And Deals

10. Company profiles
10.1. ExxonMobil Corporation
10.1.1. Overview
10.1.2. Financials
10.1.3. Product and Services
10.1.4. Key Developments
10.2. Royal Dutch Shell Plc.
10.2.1. Overview
10.2.2. Financials
10.2.3. Products and Services
10.2.4. Key Developments
10.3. Chevron Corporation
10.3.1. Overview
10.3.2. Financials
10.3.3. Products and Services
10.3.4. Key Developments
10.4. Total S.A.
10.4.1. Overview
10.4.2. Financials
10.4.3. Products and Services
10.4.4. Key Developments
10.5. BP plc
10.5.1. Overview
10.5.2. Financials
10.5.3. Products and Services
10.5.4. Key Developments
10.6. PetroChina Company Limited
10.6.1. Overview
10.6.2. Financials
10.6.3. Products and Services
10.6.4. Key Developments
10.7. Eni S.p.a
10.7.1. Overview
10.7.2. Financials
10.7.3. Products and Services
10.7.4. Key Developments
10.8. ConocoPhillips
10.8.1. Overview
10.8.2. Financials
10.8.3. Products and Services
10.8.4. Key Developments
10.9. Lukoil
10.9.1. Overview
10.9.2. Financials
10.9.3. Products and Services
10.9.4. Key Developments
10.10. Aramco
10.10.1. Overview
10.10.2. Financials
10.10.3. Product and Services
10.10.4. Key Developments
Note: Product cover images may vary from those shown
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4 of 4
  • ExxonMobil Corporation
  • Royal Dutch Shell Plc.
  • Chevron Corporation
  • Total S.A.
  • BP plc
  • PetroChina Company Limited
  • Eni S.p.a
  • ConocoPhillips
  • Lukoil
  • Aramco
Note: Product cover images may vary from those shown
5 of 4

The research study is based on the publisher's proprietary research model. The process involves sourcing of information from various industry experts, key professionals, decision-makers and various other stakeholders along with the validation of the responses received from the vast in-house database and premium paid databases. Publicly available sources were also taken into consideration for the final market estimates and forecast for the segments and sub-segments.

The first phase of the research process is the identification of key industry leaders, experts, decision-makers and C-level executives and then conducting interviews and surveys to gain vital insights about the market. Simultaneously, extensive secondary research is done, and key secondary data is collected as part of this process. This secondary data is collected from various databases, industry journals, whitepapers, company annual reports, research publications, and other paid data sources and relevant literature. Company profiles which include strategies, new product developments, recent investments, major products and services, financials and business plans are sourced from the annual reports, SEC filings, industry associations to preserve the quality of the information being displayed. The findings from both the primary and the secondary research process combined go under further processing for market breakdown and forecasting.

The last phase is providing intelligence in the form of presentation, charts, graphics and other different formats helping the clients in a faster and efficient understanding of the market. Under this phase complete market engineering is involved which includes analyzing the collected data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. The publisher has developed their market forecasting methodology that, in addition to the main market values, also takes into account other macroeconomic factors (global or local) that might have some bearing on the market under study. Taking all the necessary data, a robust forecast is developed using an algorithm that involves both static (multivariate) as well as dynamic (time-series) regression analysis. Special care is taken to make sure their algorithm passes the necessary statistical tests, and the mean prediction for future years obtained is reliable with a very high confidence level. Following data validation, the analysts begin to write the report presenting insights with the help of charts, graphs, and tables.