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.
Industrial Lubricants Market Report Highlights
The global industrial lubricants market size was valued at USD 16.24 million tons in 2022, and it is expected to reach USD 71.73 billion by 2025 registering a CAGR of 3.1% CAGR (2023-2030).
- Product demand in Europe is expected to grow at a CAGR of 2.8% over the forecast period owing to increasing industrial activities along with modernization of industrial machinery
- Saudi Arabia accounts for a major share of the global oil reserves. Heavy investments in education & infrastructure development by the government to reduce unemployment will have a positive impact on the regional market
- Companies have undertaken strategies, such as mergers and acquisition, to enhance their product offerings and strengthen regional presence
- Manufacturers of industrial lubricants market are aiming to achieve optimum business growth by implementing other strategies including joint venture, capacity expansion, product development, and R&D investments
Automotive Lubricants Market Report Highlights
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).
- The global automotive lubricants market size was worth USD 57.2 billion in 2014 and is expected to grow at a CAGR of 3.7% from 2017 to 2025
- Brake fluids accounted for over 12% of the overall volume in 2016, with the segment expected to be the fastest-growing from 2017 to 2025
- Bio-based lubricants are gaining acceptance due to their bio-based origin coupled with stable raw material prices and availability. Favorable government regulations for the usage of bio-based materials are further expected to influence the global industry growth positively
- The Asia Pacific is the largest consumer with the region characterized by high passenger car sales and a rapidly developing aftermarket. The region is expected to grow at a CAGR of 3.5% from 2017 to 2025
- The U.S. is a highly matured region for the industry with its dynamics influenced by the high level of product innovation, the concentration of global majors, and a well-established regulatory framework
- Grease is projected to register the highest price growth whereas coolants will witness slowest price growth during the forecast period. Availability of advanced coolants and standard production process is helping the prices to be maintained through the forecast period
- Major industry participants include ExxonMobil, Royal Dutch Shell, Total SA, and British Petroleum among others
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 Report Highlights
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).
- Hydraulic oils are anticipated to emerge as the fastest-growing segment with a CAGR of 2.6 % over the forecast period. These are used for extending pump life under severe conditions, maintain cleanliness, and reliable air release filterability
- Lubricants are also utilized in gear oil for the protection of high horsepower marine engines. The product is fortified with anti-foaming agents, which prevents cavitation at high RPM’s
- North America is projected to remain a prominent regional market, registering a CAGR of 2.4% during the forecast period. The growth of the region can be attributed to rally of the marine sector
- Asia Pacific is likely to remain the fastest-growing region with a 4.3% CAGR from 2017 to 2025. Some of the factors contributing to the growth of APAC are increasing number of ports, surging trade activities with the U.S. and other developed economies, and rapidly expanding shipbuilding sector
- Major industry participants are increasingly engaging in R&D, strategic collaborations, new product launches, and other strategies in order to consolidate their positions in the market.
Aerospace Lubricant Market Report Highlights
The global aerospace lubricant market was valued at USD 760.4 million in 2014, and it is expected to reach USD 998.1 million by 2022, registering a CAGR of 4.2% CAGR (2023-2030).
- The global aerospace lubricant market demand exceeded 90 kilo tons in 2014 and is expected to reach 133.8 kilo tons by 2022, growing at a CAGR of 4.8%from 2015 to 2022
- Civil aviation emerged as the largest end-use segment with demand share exceeding 65% in 2014. The sector is expected to generate high demand for lubricating oil particularly engine oil as a result of increased trans-continental travel, domestic air passenger traffic rise in Asian markets and strong preference towards aviation from locomotives in developing markets.
- Asia Pacific was the leading consumer and accounted for 39.0% of global volume in 2014. Growing civil aviation sector as a result of reduced airfares, increased presence of aircraft operators and rising consumer income particularly in China, India, Thailand, and Indonesia is expected to drive the regional market over the forecast period.
- Aerospace lubricant market is characterized by the presence of integrated companies who are involved in additive and base oil production as well. In regions such as China, there is a huge presence of independent blenders which leads to fragmentation.
- Key companies in the industry include Exxon Mobil, Shell, British Petroleum, Total Lubricant, Chevron Corporation, Fuchs Group, Phillips 66, Castrol, Sinopec, Petrobras, Quaker Chemical Corporation and Aerospace Lubricant, Inc.
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
Key players operating in the lubricants industry are –
- BP P.L.C
- Chevron Corporation.
- Total Energies
- Royal Dutch Shell PLC
- Petronas Lubricant International
- Philips 66 Company
- ExxonMobil Corporation
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.
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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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