市場調查報告書
商品編碼
1527030
全球工業潤滑油市場 2024-2031Global Industrial Lubricants Market 2024-2031 |
工業潤滑油市場規模、佔有率及趨勢分析報告,按基礎油類型(礦物油和生物基油)、產品類型(液壓油、壓縮機油、金屬加工液、齒輪油、透平油、船用油、潤滑脂等) ),以及最終用途行業(建築、金屬和採礦生產、水泥生產、發電、汽車(車輛製造)、化學、石油和天然氣、食品加工等),預測期(2024-2031)
預計在預測期內(2024-2031 年)工業潤滑油市場將以 14.3% 的複合年成長率顯著成長。市場成長歸因於汽車、工業機械和航空航太等各行業對潤滑油的需求不斷增加,以確保全球不同行業的機械設備順利運作和維護。根據《2024年世界指標報告》,預計2025年德國汽車潤滑油收入約18億美元。
Industrial Lubricants Market Size, Share & Trends Analysis Report by Base Oil Type (Mineral Oil and Bio-based Oil), by Product Type (Hydraulic Oil, Compressor Oil, Metalworking Fluid, Gear Oil, Turbine Oil, Marine Oil, Grease, and Others), and by End-Use Industry (Construction, Metal & Mining Production, Cement Production, Power Generation, Automotive (Vehicle Manufacturing), Chemical, Oil & Gas, Food Processing and Others), Forecast Period (2024-2031)
Industrial lubricants market is anticipated to grow at a significant CAGR of 14.3% during the forecast period (2024-2031). The market growth is attributed to the increasing demand for lubricants in various industries such as automotive, industrial machinery, and aerospace to ensure the smooth operation and maintenance of machinery and equipment across different sectors globally. According to the World Metrics Report 2024, the revenue of automotive lubricants in Germany is projected to be approximately $1.8 billion in 2025. It is expected that in 2022, the value of bio-lubricants in the US reach about $2.4 billion.
Market Dynamics
Increasing Adoption of Innovative Lubricating Technologies
Key drivers propelling the growth of the industrial lubricants market include the development of innovative lubricating technologies, stringent laws encouraging the use of environmentally friendly products, an increase in demand for energy-efficient lubricants, and the expansion of manufacturing activities. Many power plants have adopted condition-based maintenance strategies for lubricants, moving away from traditional schedule-based replacements. The simultaneous goals of reducing lubricant consumption and enhancing plant availability can be aligned.
Growing Demand for Biodegradable Lubricants and Sustainability
Globally, there is a tendency toward sustainability that involves several industries, including lubricants. The growing emphasis on developing and application of biodegradable lubricants. The goal of these eco-friendly substitutes is to lessen lubricant disposal's negative environmental effects. By implementing resource-efficient lubricating techniques, manufacturers and end users can also aim to reduce their carbon footprint. Reduce waste, this can entail implementing closed-loop lubricating systems or recycling spent lubricants. Businesses may investigate methods to increase the lifespan of lubricants by utilizing creative recycling and re-refining techniques. This move to a circular economy model is in line with larger international initiatives to cut waste and encourage resource efficiency.
Market Segmentation
Bio-based Oil is Projected to Hold the Largest Segment
The bio-based oil segment is expected to hold the largest share of the market. The primary factors supporting the growth include increasing demands of ecological sustainability, emerging patterns, and technological advancements all influence the modern industrial landscape. The industry that produces bio-based lubricants is one that greatly benefits from these features. Bio-lubricants has several advantages over conventional mineral oil-based lubricants. Their superior lubricity, higher flash points, and reduced volatility contribute to increased safety and efficiency across a range of applications. Furthermore, governments and businesses are becoming more aware of their ecologically friendly qualities, which encourages market choice and regulatory support. For instance, in February 2024, KRATON introduced the Innovative SYLVASOLV(TM) Biobased Oils product line to deliver superior performance and environmental advantages across many industries, including agrochemicals, adhesives, and lubricants.
Hydraulic Oil Segment to Hold a Considerable Market Share
The hydraulic oil segment is expected to hold a considerable share of the market. Hydraulic fluid is used in so many different industries, it is the most popular product category in the industrial lubricants industry. Hydraulic oil keeps moving components lubricated, promotes effective power transfer, and keeps hydraulic machinery running smoothly. The demand for hydraulic fluid is mostly driven by the growing use of hydraulic equipment in heavy machinery and automobiles. Furthermore, to preserve peak performance and prolong equipment longevity, high-performance hydraulic oils are growing essential as hydraulic technology develops. For instance, in May 2022, Volvo Construction Equipment introduced the latest addition to its hydraulic oil lineup. Volvo Hydraulic Oil 98611 HO103. The new oil is approved and compatible with all Volvo machines across all markets and in crawler excavators extending the drain interval from 2,000 hours to 3,000 hours.
The global industrial lubricants market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Growing Demand in End-Use Industry in Europe
Asia Pacific Holds Major Market Share
Asia-Pacific holds a significant share owing to numerous prominent Industrial Lubricants companies and providers such as China Petroleum & Chemical Corp. (SINOPEC), Indian Oil Corp. Ltd., and Valvoline Cummins Pvt. Ltd., in the region. The regional growth is mainly attributed to the increasing industrialization and urbanization, especially in China and India, which enhance end-use industries including construction, agriculture, and automobile production. Furthermore, the region's industrial lubricant consumption is predicted to rise significantly as further expenditures in infrastructure and automobile manufacturing. According to the Asian Lubricants Industry Association, Asia's share of the global lubricant market translates to an annual consumption of 19-23 billion liters, considering that this amount is worth an estimated $60.0-80.0 billion. The strategic move empowers to establish business coverage and footprint in the lubricants market, allowing partners and customers to provide the services and solutions. For instance, in November 2023, IMCD China entered the lubricants market with the acquisition of Guangzhou RBD Chemical Co., Ltd. RBD focuses mainly on lubricant additives and represents global suppliers. It is based in Guangzhou, China, and generated a revenue of approximately CNY 75.0 million ($11.1 million) in 2022. It has 12 employees.
The major companies serving the industrial lubricants market include BP p.l.c., Chevron Corp., Exxon Mobil Corp., Shell plc, and TotalEnergies SE, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive.
Recent Development