On the basis of product, industrial lubricants market has been segmented into process oils, general oils, metalworking fluids, engine oils and others. Process oils is estimated to hold more than 20% share in the industrial lubricants market in 2017. Processed industrial lubricant is a special category of oil which finds wide application scope in a range of chemical as well as technical industries. Process oils are used as raw material as well as a processing aid in different end-use industries such as chemicals, rubber, and plastic.
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Rising demand for a variety of manufactured finished goods as well as subsequent need for expanding production capabilities has influenced manufacturers to rely on different machinery to automate production process and processing functions.On the basis of application, global industrial lubricants market has been segmented into metalworking, textile, energy, chemical manufacturing, food processing, hydraulic and others. Chemical manufacturing will be the largest application area for industrial lubricants market, during the forecast period.
Growth of chemical manufacturing industry, particularly driven by top chemical manufacturing countries such as Germany, the UK, Russia and France are expected to drive the growth of industrial lubricants market. These lubricants are required for variety of applications such as fertilizer production, compressors, and rotatory machines.
Asia-Pacific is estimated to hold the largest share in the industrial lubricants market in 2017.
The Asia-Pacific region is expected to be the fastest growing industrial lubricants market during the forecast period owing to high growth in the oil market, burgeoning population, rapid industrialization, and urbanization, coupled with strong growth in major end-use industries such as food processing, textiles, chemicals, and metalworking.
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Some of the major players operating in the global industrial lubricants industry are ExxonMobil Corp., Fuchs Group, The Lubrizol Corporation, Royal Dutch Shell, Phillips 66, Lucas Oil Products, Inc., Amsoil, Inc., Bel-Ray Co., Inc., Total S.A., Kluber Lubrication, Valvoline International, Inc., Chevron Corp., Clariant, Quaker Chemical Corp., Zeller+Gmelin GmbH & Co. KG, Houghton International, Inc., Castrol, Blaser Swisslube, Inc., Calumet Specialty Products Partners, L.P., Petronas Lubricant International, Idemitsu Kosan Co., Ltd. and Yushiro Chemical Industry Co., Ltd.
GLOBAL INDUSTRIAL LUBRICANTS MARKET, BY GEOGRAPHY
North America Industrial Lubricants Market
- By Product
- By Application
- By Country – U.S., Canada and Mexico
Europe Industrial Lubricants Market
- By Product
- By Application
- By Country – Germany, U.K., and France
Asia-Pacific Industrial Lubricants Market
- By Product
- By Application
- By Country – China, India, Japan, South East Asia
MEA Industrial Lubricants Market
- By Product
- By Application
- By Country – United Arab Emirates (U.A.E.)
CSA Industrial Lubricants Market
- By Product
- By Application
- By Country – Brazil
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