Industrial Lubricants Market Size to Grow by 0.89 million metric tons | Increasing Demand from End-user Industries to Boost Market Growth | Technavio

Key Market Dynamics:

• Market Driver
• Market Challenges

The increasing demand from end-user industries is driving the growth of the market. The market is driven by the construction, steel and cement, wind energy, agriculture, mining and oil drilling, and marine and aerospace industries. In the construction industry, industrial lubricants are used in different types of construction equipment. In the steel and cement industry, industrial lubricants are used to increase the intervals for the draining or re-greasing of the equipment. In the marine industry, lubricants are used to prevent overheating, rust, and friction. In the aerospace sector, lubricants are used because of their excellent lubricity, anti-wear properties, resistance to fuel and oxidizers, and anti-corrosion properties.

The weak global economic outlook will challenge the industrial lubricants market during the forecast period. The global industrial lubricants market is dependent on the manufacturing and industrial sectors. However, growth in these industries depends on the global economy. Another factor that is likely to challenge the growth of the global economy is the sustained deflation levels seen in developed countries. The major economies that are witnessing longer durations of negative inflation include the US, Japan, and those in the Eurozone.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our Sample Report right now!

Market Segmentation

The industrial lubricants market report is segmented by volume (mineral oil lubricants, synthetic lubricants, and bio-based lubricants) and geography (APAC, Europe, North America, MEA, and South America). APAC will be the leading region with 58% of the market's growth during the forecast period. China, India, and Japan are the key markets for industrial lubricants in APAC.

By volume, the market share growth by the mineral oil lubricants segment will be significant during the forecast period. Mineral oil lubricants are classified further into paraffinic mineral oil lubricants, naphthenic mineral oil-based lubricants, and aromatic mineral oil-based lubricants. These lubricants are derived from crude oil through the distillation, solvent extraction, and cracking processes. They are used as engine oils in manufacturing industries and as processing oils in the rubber, textile, and paper industries.

View our sample report for additional insights into the contribution of all the segments and regional opportunities in the report.

Some Companies Mentioned

• BP Plc
• China National Petroleum Corp.
• Exxon Mobil Corp.
• FUCHS PETROLUB SE
• Idemitsu Kosan Co. Ltd.
• Indian Oil Corp. Ltd.
• Oil and Natural Gas Corp. Ltd.
• PJSC LUKOIL
• Royal Dutch Shell Plc
• Total SA
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

Related Reports:

Biorefinery Market by Technology and Geography - Forecast and Analysis 2022-2026

LNG-as-a-fuel Market by End-user and Geography - Forecast and Analysis 2022-2026

Key Topics Covered:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product by Volume

• Market segments
• Comparison by Product by volume
• Mineral oil lubricants - Market size and forecast 2019-2024
• Synthetic lubricants - Market size and forecast 2019-2024
• Bio-based lubricants - Market size and forecast 2019-2024
• Market opportunity by Product by volume

Customer landscape

Geographic Landscape by Volume

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Competitive scenario
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• BP Plc
• China National Petroleum Corp.
• Exxon Mobil Corp.
• FUCHS PETROLUB SE
• Idemitsu Kosan Co. Ltd.
• Indian Oil Corp. Ltd.
• Oil and Natural Gas Corp. Ltd.
• PJSC LUKOIL
• Royal Dutch Shell Plc
• Total SA

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/

SOURCE Technavio