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Lubricants Industry Data Book Covers Automotive Lubricants, Industrial Lubricants, Marine Lubricants and Aerospace Lubricants Markets.
The economic value generated by the lubricants industry was estimated at approximately USD 134.65 billion in 2022.
Grand View Research’s Lubricants Industry database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed Industrial outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Industrial Lubricants Market Insights
The global industrial lubricant market size was valued at USD 52.57 billion in 2018 and projected to expand at a CAGR of 4.5% during the forecast period.
Based on the product, the industrial lubricants market can be segmented into process oils, general industrial oils, metalworking fluids, and industrial engine oils. Process oils emerged as a dominant product segment accounting for more than 32% of the overall volume in 2018. The segment is expected to maintain its dominance expanding at a CAGR of 3.4% during the forecast period.
Based on the application, the market can be segmented into metalworking, textiles, energy, chemical manufacturing, food processing, hydraulic, and others. Chemical manufacturing led the application segment accounting in 2018. Energy facilities rely heavily on the performance of their equipment to remain competitive, including gas and steam turbine power plants, wind turbines, natural gas compression plants, and coal-fired power plants.
The demand for food processing was valued at 1,847.54 kilotons in 2018 and is estimated to grow at a CAGR of 2.9% over the forecast period.
Automotive Lubricants Market Insights
The global automotive lubricants market size was estimated at USD 24.18 million tons in 2022, and it is expected to reach USD 87.1 billion by 2025, expanding at a CAGR of 2.8% CAGR (2023-2030).
On the basis of product, the industry has been segmented into the engine oil, gear oil, transmission fluids, brake fluids, coolants, and greases. Engine oil was the leading segment and accounted for over 54.5% of the overall revenue in 2016.
China’s automotive industry has witnessed a high growth rate in 2016, with total vehicle sales booming over 13% in comparison to 2015. Tax incentives on small-engine cars, which reduced to 10% to 5% played a crucial role in industry growth.
Gear oil, on the other hand, is a high viscosity lubricant widely used to protect gear and ensure a smooth transfer of lubrication through the gear train. Major players such as ABRO Industries, Inc. have developed gear oils with high-quality base stocks to provide improved oxidation stability and longer service life.
Brake fluids are the fastest-growing product during the forecast period. It is a hydraulic fluid, widely utilized in hydraulic brake and clutch applications in automobiles. The primary function of a brake fluid helps in transmitting the driver’s foot pressure on the brake pedal to lock friction material against the discs by providing an incompressible medium.
Access the Global Lubricants Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Marine Lubricants Market Insights
The global marine lubricants market size was estimated at USD 1.93 million tons in 2022, and it is expected to reach USD 9.32 billion by 2025, expanding at a CAGR of 3.4% CAGR (2023-2030).
The market has been segmented into engine oil, hydraulic oil, gear oil, turbine oil, greases, and others on the basis of product. Engine oil emerged as the leading segment in 2016 and accounted for over 45.0% of the overall revenue. This segment is likely to witness significant growth over the forecast period.
Hydraulic oils are expected to be the fastest-growing segment in the marine lubricants market, with a CAGR of 3.8% in terms of volume over the forecast period. It is used for extending pump’s life under severe conditions, cleanliness, and reliable air release filterability.
Lubricants provide robust protection to hydraulic pumps, which also contain antiwear additives, corrosion and oxidation inhibitors, foam and aeration suppressants, and a shear stable viscosity index improver.
Aerospace Lubricant Market Insights
The global aerospace lubricant market was valued at USD 760.4 million in 2014. Increasing air traffic in both developed as well as developing economies such as U.S., UK, India, and China is expected to drive the aerospace lubricant market over the forecast period.
Gas turbine oil was the leading product segment valued at over USD 300 million in 2014. They are selected depending on the requirements of the engine. Gas turbine oil provides thrust and helps inefficient cooling. It also helps in preventing the formation of sludge, rust, and corrosion while the engine is operated. All such factors result in the operational efficiency of the fuel.
Gas turbine engines in aircraft have been in typical demand for the past 40 years. The lubricants required by this type of aircraft engine are responsible for maintaining smooth operations of potential high-tear vulnerable engine components.
Civil was the leading end-use and accounted for 60% of the overall volume in 2014. Increasing air traffic in countries such as China, India, Germany, and Hungary is anticipated to drive growth over the next seven years. Cheaper airfares along with rising living standards in developing regions are expected to further boost end-user segment growth.
Defense is anticipated to emerge as the fastest-growing end-use segment at a CAGR of 5.0% over the next seven years. Increasing expenditure on defense and defense in countries such as the U.S., China, India, France, and Russia is expected to be the dominant driving force.
Lubricants Market – Global Industry Segmentation
Industrial Lubricant Market - Segment Analysis, By Product, 2017 - 2030
- Process Oils
- General Industrial Oils
- Metalworking Fluids
- Industrial Engine Oils
- Greases
- Others
Automotive Lubricant Market - Segment Analysis, By Product, 2017 - 2030
- Engine Oil
- Gear Oil
- Transmission Fluids
- Brake Fluids
- Coolants
- Greases
Marine Lubricants Market - Segment Analysis, By Product, 2017 - 2030
- Engine oil
- Hydraulic oil
- Gear oil
- Turbine oil
- Greases
- Others (compressor oil, refrigeration oil, heat transfer oil)
Aerospace Lubricants Market - Segment Analysis, By Product, 2017 – 2030
- Gas turbine oils
- Piston engine oils
- Hydraulic fluids
- Others
Order your copy of the Free Sample of “Lubricants Industry Data Book - Automotive Lubricants, Industrial Lubricants, Marine Lubricants and Aerospace Lubricants Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Lubricants Industry Data Book Regional Outlook
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Switzerland
- France
- Italy
- Spain
- Netherlands
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Oceania
- Central & South America
- Brazil
- Argentina
- Chile
- Colombia
- Middle East & Africa (MEA)
- Middle East
- Iran
- Oman
- UAE
- Qatar
- Kuwait
- Saudi Arabia
- Africa
- South Africa
- Angola
- Nigeria
Lubricants Industry Data Book Competitive Landscape
The global lubricants market is competitive markets with a large number of well diversified regional, and independent small scale and large scale manufacturers and suppliers.
Key players operating in the lubricants industry are –
- BP P.L.C
- Chevron Corporation.
- Total Energies
- Petrobras
- Royal Dutch Shell PLC
- Petronas Lubricant International
- Philips 66 Company
- ExxonMobil Corporation
- Lukoil
Go through the table of content of Lubricants Industry Data Book to get a better understanding of the Coverage & Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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