Industrial Lubricants Latest Innovations, Drivers, Dynamics, Strategic Analysis and Challenges

As per the market study by the Department of Fashion and Apparel Studies, University of Delaware, the global market for textile mills attained a value of more than $700.0 billion in 2017. This rapid expansion of the textile industry is because of the quickly changing fashion trends and growing income levels. Due to these factors, the requirement for apparel is increasing at a fast pace, which is further resulting in the setting up of new textile mills across the world. The machines used at these mills for weaving need to be free of friction, static electricity, and corrosion. Various machine components, such as roller bearings, chains, gears, and adjusting spindles, need to function properly for the smooth running of the mill. To ensure that this happens, the textile industries uses industrial lubricants to protect the machines and their components from detrimental effects.

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On the most basic level, industrial lubricants can be defined as substances, generally oils, fluids, and greases, which are used to protect materials from wearing and tearing by reducing friction and the binding of materials. Apart from this, they are also used to lessen the electrical resistivity while simultaneously increasing thermal conductivity. The worldwide industrial lubricants market valued $48,860.7 million in 2016 and is predicted to grow at a CAGR of 4.3% in the coming years. General oil, engine oil, metalworking fluid, process oil, and several other types of industrial lubricants are used, among which process oil was used the most in 2016. These oils are used as raw materials in the manufacturing of several elastomers, chemicals, and other specialty products. In the manufacturing of textiles, plastics, printing inks, and rubbers, process oils are used as pure mineral oil.

Expansion in the industrial lubricants production base of APAC as a major market trend

In the past few years, several organizations engaged in petrochemical production have established their production bases in or near the major oil-rich regions in the Americas, the Middle East, and APAC. The shifting of production bases to the APAC region has strengthened the supply chain of various end-use industries. Further, the production capacity of industrial lubricants in the APAC region is expected to continue rising due to the large investments by different players. Thus, with growing investments in the APAC region, a key trend in terms of capacity expansion is being witnessed in the industrial lubricants market.

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Industrial lubricants market's competitive landscape

Among the major players operating in the global industrial lubricants market are Amsoil Inc., Calumet Specialty Products Partners L.P., Phillips 66, Quaker Chemical Corporation, Houghton International Inc., Klüber Lubrication München SE & Co. KG, PETRONAS Lubricants International, BP PLC, Blaser Swisslube AG, FUCHS PETROLUB SE, Chevron Corporation, Exxon Mobil Corporation, The Lubrizol Corporation, Total S.A., Idemitsu Kosan Co. Ltd., Clariant AG, and Royal Dutch Shell PLC.

GLOBAL INDUSTRIAL LUBRICANTS MARKET SEGMENTATION
By Product
Process Oil
General Oil
Metalworking Fluid
Engine Oil
Others

By Application
Metalworking
Metal Forming
Aluminum
Copper
Others - Manganese, Silicon, Zinc, Manganese-Silicon Alloys, and Nickel
Metal Cutting
Aluminum
Copper
Others - Bronze, Steel, Tin, Nickel, and Titanium
Metal Joining
Fastening
Others - Brazing, Soldering, Adhesive Joining, and Riveting
Metalworking Electronics
Industrial Heat Exchangers
Others - Polishing, Lapping, and Grinding
Textiles
Textile Weaving
Non-Woven Textiles
Textile Finishing
Dyeing
Stentering
Drying
Printing
Others - Singeing, Desizing, Scouring, and Bleaching
Composites
Others - Quilting, Sewing, Ginning, Blending, Carding, and Combing
Energy
Transformers
Pipelines
Liquefied Natural Gas
Ocean Energy
Others - Oil and Gas Exploration and Production, Refining, Transmission, and Well Services
Chemical Manufacturing
Industrial Gases
Fertilizers
Polymers
Others- Pharmaceutical Ingredients, Surfactants and Cleaning Materials, Adhesives, Oilfield Chemicals, Catalysts, Agricultural Chemicals, and Advanced Materials Industries
Food Processing
Beverages
Frozen Food
Canned Food
Fruits & Vegetables
Others - Canned Fish, Meat, Baked Food, Noodles, Pickles, and Spices Products
Processed Potatoes
Bakery
Cocoa & Chocolate
Others - Fishes, Meat, and Sea Food Products
Hydraulic Machinery
Compressors
Bearings
Others - Valves, Actuators, Accumulators, and Filters
Others - Mining and Jewelery
By Region
North America
Europe
Asia-Pacific (APAC)
Central and South America (CSA)
Middle East and Africa (MEA)

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