Press release
Industrial Lubricants Market Worldwide Industry Analysis, Future Demand and Forecast till 2031
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
To Request a Sample of our Report on Industrial Lubricants Market: https://www.omrglobal.com/request-sample/industrial-lubricants-market
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)
A full Report of Industrial Lubricants Market is Available @ https://www.omrglobal.com/industry-reports/industrial-lubricants-market
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.
Reasons to buy from us -
We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/industrial-lubricants-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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