Global industrial lubricants market is anticipated to grow at a significant CAGR of 14.3% during the forecast period (2024-2031). The market growth is attributed to the growing expansion of manufacturing operations globally and the rising demand for machinery and equipment across industries, which is linked to the growing need for efficient lubrication solutions. Industrial lubricants have wide-ranging applications in the machinery, automotive, manufacturing, power generating, construction, and marine industries, among other sectors. They are used to lessen friction, stop wear, release heat, and shield moving parts from corrosion. For instance, in March 2023, ExxonMobil announced an investment of nearly INR 900.0 crore ($110.0 million) to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation’s Isambe Industrial Area in Raigad. The plant can potentially manufacture 159,000 kiloliters of finished lubricants annually to meet growing domestic demand from industrial sectors such as manufacturing, steel, power, mining, and construction, as well as from passenger and commercial vehicle segments.
The branded product combines the expertise of industry participants in premium lubricants that support mobility initiatives. For internal combustion engines, battery electric vehicles, and related items to be offered in the market, automotive companies require lubrication. For instance, in April 2024, SAIC Motor and Castrol announced a strategic agreement introducing a new co-branded lubricant for Central and Eastern Europe (CEE) Mg Customers. The agreement brings together two heritage brands to provide solutions tailored to enhance performance and efficiency across MG’s diverse range of vehicles.
Market players expanded the brand to include lubricants, which is a high-performance line for the industrial sector. The extensive capabilities in research and development, make them a quality line of lubricants that boost the local market offering and enhance consumer choice. For instance, in December 2021, Aramco announced its entry into Saudi Arabia’s domestic lubricant market, offering consumers a new line of lubricant products under the ORIZON® brand. Aramco has introduced the ORIZON® product line in more than 20 cities including Riyadh, Jeddah, and Dammam with more locations planne
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Base Oil Type
- By Product Type
- By End-Use Industry
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- BP p.l.c., Chevron Corp., Exxon Mobil Corp., Shell plc, and TotalEnergies SE among others.
Industrial Lubricants Market Report Segment
By Base Oil Type
- Mineral Oil
- Bio-based Oil
By Product Type
- Hydraulic Oil
- Compressor Oil
- Metalworking Fluid
- Gear Oil
- Turbine Oil
- Marine Oil
- Grease
- Others (Gun Oil)
By End-Use Industry
- Construction
- Metal & Mining Production
- Cement Production
- Power Generation
- Automotive (Vehicle Manufacturing)
- Chemical
- Oil & Gas
- Food Processing
- Others (Textile)
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Industrial Lubricants Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- ADDINOL Lube Oil GmbH
- AMSOIL INC.
- Calumet Branded Products, LLC
- China Petroleum & Chemical Corp. (SINOPEC)
- ENEOS Group
- Enilive S.p.A.
- FUCHS SE
- Idemitsu Kosan Co., Ltd.
- Indian Oil Corporation Ltd.
- KLÜBER LUBRICATION INDIA Pvt. Ltd.
- The Lubrizol Corporation
- Morris Lubricants Online
- MOTUL S.A.
- Petróleo Brasileiro S.A.
- PETRONAS Lubricants International
- Phillips 66 Company
- PJSC LUKOIL
- Quaker Chemical Corp.
- The Dow Chemical Company
- Valvoline Cummins Pvt. Ltd.
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