Industrial Lubricants Market Size, Share | Global Industry Report 2022 by ExxonMobil Corporation, Royal Dutch Shell Plc., Chevron Corporation, BP p.l.c., Total S.A., Petrochina Company, Sinopec Limited, LUKOIL, Fuchs Petrolub AG and Idemitsu Kosan

Industry Trend:

Shell’s Pure Plus technology is revolutionizing the industry as it offers a 99.9% pure end product which increases its usability in required sectors such as lubricants. Companies such as Viva Energy Australia is benefitting much from such technological advancement.

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Market Competition:

The market is gaining favors from mergers and acquisitions which results in rising competition. For instance, Maximus International has recently bought Pacific Lubricants. Fuchs Petrolub SE, with an eye on synthetic lubricants, has acquired Ultrachem, Inc.

The major players of Global Industrial Lubricants Market are Total S.A. (France), Royal Dutch Shell Plc. (The Netherlands), ExxonMobil Corporation (U.S.), LUKOIL (Russia), PetroChina Company Limited (China), Valvoline International, Chevron Corporation (U.S.), BP p.l.c. (U.K.), Fuchs Petrolub AG (Germany), Lucas Oil, Sinopec Limited (China), Idemitsu Kosan Co. Ltd (Japan) and others.

Segmentation:

The Global Industrial Lubricants Market can be segmented by Type, State, Source and End-Users.

Based on Type, the market can be segmented into hydraulic lubricants, compressor lubricants, gear lubricants, metalworking fluids, and others. Metalworking fluids accounted for over 30.0% of the global market in 2016.
State-wise segmentation of the market includes solid, liquid and others.

Source-based segmentation consists natural, synthetic and compound. Synthetic segment is expected to grow with fastest CAGR during the forecast period.

Based on End-Users, the market comprises automotive, manufacturing, heavy industries, power generation and others. Driven by a huge surge in power demand, power generation is expecting the fastest growth rate during the forecast period.

Regional Analysis:

Region-specific segmentation of the market covers North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

The APAC region is currently in charge of the global market. By getting ample tailwind from burgeoning sectors such as automotive and industry in the region, the market is expecting to propel up further during the foreseeable future. Also, the presence of countries such as India and China can play a key factor in the growth of the market so much so that it can achieve the fastest growth rate during the same period.

North America has the second largest market and is mainly administered by the U.S. which has a well-developed industrial record to support the growth substantially. Europe’s industrial growth got saturated to some extent, and the market is getting mainly driven by Germany, France, and the U.K. Other developing countries of South America, Africa, and the Middle East can expect higher returns.

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