HOME Research Insight Expansions & Agreements are the key Strategies Adopted by the leading players in the Global Industrial Lubricants Market

Expansions & Agreements are the key Strategies Adopted by the leading players in the Global Industrial Lubricants Market

The global industrial lubricants market was valued at USD 55.73 Billion in 2015, and is projected to reach USD 64.48 Billion by 2021, at a CAGR of 2.5% from 2016 to 2021. Agreements, expansions, acquisitions, and joint ventures are the strategies adopted by the key players to strengthen their positions in the global industrial lubricants market. The maximum number of strategic developments undertaken between 2012 and 2016, took place in Asia-Pacific, followed by Europe, and Middle East & Africa.

The key players operating in the global industrial lubricants market are ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Chevron Corporation (U.S.), BP p.l.c. (U.K.), Total S.A. (France), Petrochina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub AG (Germany), Idemitsu Kosan Co. Ltd (Japan), and others. 

Royal Dutch Shell Plc. (Netherlands) is the major industrial lubricants manufacturer, globally. The company has been focusing on expansions to strengthen its market presence. For instance, in January 2016, the company announced its plans to expand the lubricants business in next five years. The company planned to open a new lubricant blending plant in Singapore in 2016. Additionally, Shell plans to expand the lubricants business in member countries of Association of Southeast Asian Nations (ASEAN). This expansion would help the company strengthen its foothold in the Asia-Pacific industrial lubricants market. Also, Royal Dutch Shell Plc. opened a new lubricant blending plant at the Marunda Center, North of Jakarta, Indonesia. The facility is expected to produce 120,000 tons (136 million liters) of finished lubricants per annum.

ExxonMobil Corporation (U.S.) is another key player in the global industrial lubricants market. The company, in November 2016, signed an agreement with Chilean industrial conglomerate, Empresas Copec for the production and distribution of lubricants and fuels in Colombia, Ecuador, and Peru. This helped the company strengthen its distribution network in South America. Additionally, in February 2015, the company announced its plans to upgrade the Rotterdam refinery (Netherlands). The up gradation includes expansion of the production capacity of high-quality lubricants and diesel. This up gradation helped the company enhance its production capacity and capture an additional market share.

This report provides a detailed analysis of the global industrial lubricants market and segments the same based on type, base oil, end-use industry, and region. The major types covered in this report are hydraulic oil (HL hydraulic oil, HLP hydraulic oil, HLP-D hydraulic oil, and fire-resistant hydraulic oil), metalworking fluid (removal, forming, treating and protecting), gear oil (rust & corrosion inhibited gear oil, compounded gear oil, and extreme pressure gear oil), compressor oil, grease (metallic soap thickener, non-soap thickener, and inorganic thickener), turbine oil, and others (transformer oil, refrigeration oil, and textile machinery lubricants). The base oil includes mineral oil, synthetic oil (PAO, PAG, esters, and group III) and bio-based oil. Based on the end-use industry, the market has been segmented into construction & mining, metal production (transport equipment, primary ferrous products, and primary non-ferrous products), cement production, power generation, general manufacturing (automotive, chemical, marine, oil & gas, textile, others), and food processing (food, beverage, pharmaceuticals & cosmetics, and others). The market is also segmented on the basis of regions, such as, the Asia-Pacific, Europe, North America, Middle East & Africa, and South America.

Related Reports:

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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