Industrial Oils Market 2021: Global Trends, Key Vendors Analysis, Industry Growth, Revenue by Forecast to 2028

Industrial oils are used to minimize friction, provide protection, and extend the life of machineries and equipment. They display superior anti-foam, thermal stability, high-load carrying ability, high viscosity, and anti-wear properties. Industrial oils are synthesized to prevent the formation of rust, combat acid hydrolysis, and work in high pressure and temperature working conditions. They are commercially available in a number of grades including compressor oils, cylinder oils, transmission fluids, automotive engine oils, refrigeration oils, etc.

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MARKET DYNAMICS

The rising manufacturing output and the growing demand for industrial oils from diverse end-use industries is anticipated to drive the demand for industrial oils. Oil replacement and maintenance of old equipment and industrial machineries are also anticipated to create significant demand for industrial oils in the forecast period. The rising power consumption per capita has led to establishment of significant number of power projects across the world. Industrial oils are significantly consumed by the power plants to keep steam turbines, boiler feed pumps, generators, etc. running. The burgeoning requirement for power across the globe is likely to drive the industrial oil demands in the forecast period. The proliferation of wind turbine farms and installation of steam and hydroelectric power turbines to meet the rising demands of electricity across the globe has also created substantial opportunities for the turbine oil industries. The growing demand for turbine oils is likely to give an impetus to the growth of the industrial oils industries. The rising investments made in the industrial sector and favorable government initiatives to promote industrialization is further anticipated to boost the growth of the industrial oils market in the forecast period. End-use industries such as construction, mining, automotive, aviation, general industries are also expected to be substantially large consumer of industrial oils in the forecast period.

MARKET SCOPE

The "Global Industrial Oils Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the industrial oils market with detailed market segmentation by source, type, end-use, and geography. The global industrial oils market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading industrial oils market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global industrial oils market is segmented on the basis of source, type, and end-use. On the basis of source, the industrial oils market is segmented into, natural and synthetic. On the basis of type, the market is bifurcated into light, medium, and heavy. Based on end-use, the global industrial oils market is segmented into, oil & gas, paints & coating, automotive, pharmaceuticals, medical, and others.

Impacts of Covid-19 on the Market

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘industrial oils market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of COVID -19 Situation.

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REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global industrial oils market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The industrial oils market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the industrial oils market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the industrial oils market in these regions.

MARKET PLAYERS

- Apar Industries Ltd.
- Chevron USA Inc.
- Exxon Mobil Corporation
- FUCHS Lubritech GmbH
- Hindustan Petroleum Corporation Limited.
- Klüber Lubrication NA LP
- Lubrication Engineers
- Panama Petrochem Ltd
- Royal Dutch Shell PLC
- Total S.A.

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This release was published on openPR.