Emergen Research

Industrial Lubricants Market Size – USD 58.22 Billion in 2019, Market Growth – at a CAGR of 3.2%, Market Trend – Rapid industrialization in Asia Pacific

VANCOUVER, BC, CANADA, December 21, 2021 /EINPresswire.com/ -- The study is a professional probe into the revenue generated and capacity estimates for the Industrial Lubricants Market for the forecast period 2020 - 2027 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.

The global industrial lubricants market is estimated to reach value of USD 75.23 Billion by 2027, according to a current analysis by Emergen Research. Increase in the number of trade activities and surge in industrialization in developing countries are estimated to propel the industrial lubricants market in the near future.Industrial lubricants are used to reduce friction between two surfaces. They help machines to work without any glitch and prolong the life of affected parts by lowering the wear and tear. Most of the industrial lubricants used have organic base, such as mineral oil or petroleum fraction. Moreover, increased investments in research and development are also likely to boost the industrial lubricants market during the forecast period.

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Key Highlights of Report
In December 2020, Nyara Energy, formerly known as Essar Oil, partnered with Shell, a major energy company, to sell the latter’s industrial lubricants through its network of fuel stations in India. Nyara Energy has over 5,900 fuel stations in India and it plans to build new stations to reach 7,300 stations by 2022.
Hydraulic fluids offer a lubricating film, which reduces the wear and tear on moving parts of an equipment. Effectiveness of the film depends on the balance between viscosity of the lubricants, sliding speeds and loads, and fluid stability.
Synthetic oil has excellent low-temperature flow performance, it offers enhanced oxidation and thermal stability, and it has excellent wear protection. This type of oil is higher in quality and purity than mineral oils.
The construction segment held the largest share of the industrial lubricants market in 2019, due to high demand for construction activities in China and India. From dump trucks and draglines, bulldozers, to scrapers and shovels, all construction equipment are subjected to harsh conditions, which generates demand for lubricants.
The Asia Pacific region held the largest share of the global market, with high demand witnessed in China. The country is a rapidly developing nation and is witnessing strong growth of construction, power generation, and oil & gas sectors.

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Competitive Landscape
The Lubrizol Corporation
ExxonMobil Corp
Royal Dutch Shell
Amsoil, Inc.
Valvoline International, Inc.
Kluber Lubrication
Clariant
Chevron Corp.
Petronas Lubricant International
Quaker Chemical Corp

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Market Taxonomy:
• Product Type Outlook (Revenue, USD Billion; 2017–2027)
o Hydraulic Fluid
o Metalworking Fluid
o Gear Oil
o Compressor Oil
o Grease
o Turbine Oil
o Others
1. Transformer Oil
2. Refrigeration Oil
3. Textile Machinery Lubricants
• Base Oil Outlook (Revenue, USD Billion; 2017–2027)
o Mineral Oil
o Synthetic Oil
1. Polyalphaolefins (PAO)
2. Polyalkylene Glycol (PAG)
3. Esters
4. Group iii (Hydrocracking)
o Bio-based Oil
• End-use Industry Outlook (Revenue, USD Billion; 2017–2027)
o Construction
o Metal & Mining
o Cement Production
o Power Generation
o Automotive (Vehicle Manufacturing)
o Chemical
o Oil & Gas
o Textile
o Food Processing
o Others
1. Agriculture
2. Pulp & Paper
3. Marine (Deck Manufacturing)
• Regional Outlook (Revenue, USD Billion; 2017–2027)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. U.K.
3. France
4. BENELUX
5. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. Rest of MEA

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