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Global Industrial Lubricants Market by Product, Application and Geography to 2024 - Emerging Countries to Offer Huge Growth Opportunities - ResearchAndMarkets.com

February 15, 2019

DUBLIN--(BUSINESS WIRE)--Feb 15, 2019--The “Industrial Lubricants Market by Product, by Application, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2016-2024” report has been added to ResearchAndMarkets.com’s offering.

Industrial lubricants market is projected to reach $68,412 million by 2024; the rising need for lubricants is attributed to the fact that these lubricants improve the various industrial processes without altering physical properties and quality of the final product.

Owing to rapid industrialization and growing need for effective and streamlined processes of industrial production, the market is expected to grow during the forecast period.

Based on product, the industrial lubricants industry is categorized into process oil, general oil, metalworking fluid, engine oil, and others. The others category includes demolding oils, lubricating greases, chainsaw oils, compressor oils, turbine oils, and industrial gear oils.

Globally, process oil accounted for the largest share in the industrial lubricants market with more than 30.0% contribution in terms of volume in 2016. Processing oil facilitates the smooth functioning of industrial machinery by maintaining temperature and reducing friction of the machinery parts and components. Growing industrialization in countries such as China and India is expected to boost the consumption of process oil used during various manufacturing processes.

Based on application, the industrial lubricants industry is categorized into metalworking, textile, energy, chemical manufacturing, food processing, hydraulic machinery, and others (mining and jewelry applications).

Among all the application areas, chemical manufacturing category held the largest share in the market, accounting for more than 20.0% share in terms of volume, in 2016. In chemical manufacturing application, lubricants are used to enhance the manufacturing process, control high temperature, and avoid contamination of chemicals. With the expansion of industrial base of chemical manufacturing, the industrial lubricants market is expected to grow at a significant pace in the forecast period.

APAC accounted for more than 40% share in terms of volume in the industrial lubricants market in 2016. Rapid industrialization in the major APAC nations including China, India, and Japan will continue to raise the demand for lubricants used in different industries.

Moreover, emerging countries in APAC are investing heavily on construction and infrastructure projects such as utilities, industrial hubs, and other civic infrastructure facilities. The development of these projects will continue to aid the growth in demand for industrial lubricants used in the machinery of the projects.

The major trend witnessed in the industrial lubricants market is the expansion in the industrial lubricants production base of APAC.

Over the years, a large number of companies engaged in the production of petrochemicals have established their production base near oil-producing regions in Middle East, and the Americas. However, over the recent years, significant expansion has been witnessed in the petrochemical sector of the APAC region.

The trend of shifting production base in the APAC region has strengthened the supply chain of various end-use industries. Moreover, industrial lubricants production capacity will continue to rise in the APAC region, owing to the large-scale investment plans by different players. Hence, with growing investments, a major trend is being witnessed in terms of capacity expansion in the industrial lubricants market of the APAC region.

Over the years, countries such as China, India, Brazil, and South Africa have witnessed rapid economic growth, characterized by large-scale expansion of industrial sector in the world. China, in particular, emerged as a global manufacturing hub and has a well-developed electronics and machinery manufacturing base.

Moreover, India has emerged as a major hotspot for construction and energy sectors as the country continue to invest heavily on infrastructure development projects. The rapid economic developments in these countries have offered fresh growth opportunities for the industrial lubricants market as these lubricants are needed to support the manufacturing process of different industries.

Topics Covered

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Trends

4.3.1.1 Expansion in the Industrial Lubricants Production Base of APAC

4.3.2 Drivers

4.3.2.1 Rising Demand for Processed Food

4.3.2.2 Expansion of Textile Industry

4.3.2.3 Growth in Energy Sector

4.3.3 Restraints

4.3.3.1 Environmental Concerns Associated with Usage and Disposal of Industrial Lubricants

4.3.4 Opportunities

4.3.4.1 Emerging Countries to Offer Huge Growth Opportunities

Chapter 5. Global Market Size and Forecast

5.1 By Product

5.2 By Application

5.3 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. CSA Market Size and Forecast

Chapter 10. MEA Market Size and Forecast

Chapter 11. Competitive Landscape

11.1 Competitive Benchmarking of Key Players

11.2 Global Strategic Developments of Key Players

Chapter 12. Company Profiles

12.1 Phillips 66

12.2 Amsoil Inc.

12.3 Calumet Specialty Products Partners L.P.

12.4 Klber Lubrication Mnchen SE & Co. KG

12.5 Quaker Chemical Corporation

12.6 Houghton International Inc.

12.7 Blaser Swisslube AG

12.8 PETRONAS Lubricants International

12.9 BP PLC

12.10 ExxonMobil Corporation

12.11 FUCHS PETROLUB SE

12.12 Chevron Corporation

12.13 TOTAL S.A.

12.14 The Lubrizol Corporation

12.15 Royal Dutch Shell PLC

12.16 Idemitsu Kosan Co. Ltd.

12.17 Clariant AG

For more information about this report visit https://www.researchandmarkets.com/research/rk2s7r/global_industrial?w=4

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Related Topics:Lubricants and Greases

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 02/15/2019 11:55 AM/DISC: 02/15/2019 11:55 AM

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