Industrial Lubricants Market

Industrial Lubricants Market worth 64.48 Billion USD by 2021

The report "Industrial Lubricants Market by Type (Metalworking Fluid, Grease Hydraulic, Gear, Compressor, Turbine Oil), End-Use Industry (Construction & Mining, Metal, Cement, Power Generation, Manufacturing, Food), Base Oil, and Region - Global Forecasts to 2021", The global industrial lubricants market was valued at USD 57.09 Billion in 2016, and is projected to grow at a CAGR of 2.5% to reach USD 64.48 Billion by 2021.

Browse 120 market data Tables and 68 Figures spread through 186 Pages and in-depth TOC on "Industrial Lubricants Market by Type (Metalworking Fluid, Grease Hydraulic, Gear, Compressor, Turbine Oil), End-Use Industry (Construction & Mining, Metal, Cement, Power Generation, Manufacturing, Food), Base Oil, and Region - Global Forecasts to 2021"
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The massive industrial growth in Asia-Pacific has been fueling the growth of the industrial lubricants market since the past few years, and this is expected to continue over the next five years. Domestic and foreign investments in key sectors such as energy, manufacturing, construction, and mining has been consistently growing over the past decade. Consequently, China, the home to almost 20% of the global population, has surpassed the U.S. in the consumption of industrial lubricants. Though the GDP growth of China for 2016 was 6.6%, the outlook for industrial growth in China is good, and the sales of lubricants in the country are growing significantly.

Hydraulic oil is the largest type of industrial lubricants.

Hydraulic oil is the largest type of industrial lubricants. It is mainly used to transmit power to hydraulic equipment. The primary functions of hydraulic oil are energy transmission, lubrication, and heat removal. Typically, hydraulic oil is used in the heavy machines that are mainly used in the construction, mining, automotive, and cement production industries. The increasing consumption of the hydraulic oil in various end-use industries is driving the hydraulic oil industrial lubricants market

The construction & mining segment is estimated to be the largest end-use industry of industrial lubricants during the forecast period.

A construction & mining sites are full of harsh conditions, where the majority of equipment are exposed to extreme cold, heat, moisture, and dust, which can affect the performance of equipment. The use of appropriate industrial lubricant helps to prevent equipment failure, eliminate downtime and reduces operating cost. Industrial lubricants are used in various equipment including bulldozers, dump trucks, draglines, scrapers & shovels, and other heavy equipment.

Construction & mining is the largest end-use industry of industrial lubricants. The increasing consumption of the hydraulic, compressor oil, grease, and other industrial lubricants is driving the market in the construction & mining industry.

APAC is estimated to be the largest market for industrial lubricants during the forecast period.

APAC is projected to be the largest industrial lubricants market during the forecast period due to the massive industrial growth in emerging countries such as China, India, and South Korea. The industrial lubricants market in APAC is projected to register the highest CAGR in terms of value, between 2016 and 2021 owing to the growing manufacturing activities and increased trade in the region.

The key market players profiled in the report include Royal Dutch Shell Plc. (The Netherlands), ExxonMobil Corporation (U.S.), BP p.l.c. (U.K.), Chevron Corporation (U.S.), Total S.A. (France), Sinopec Limited (China), Lukoil (Russia), Fuchs Petrolub AG (Germany), Petrochina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), among others.

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