The Industrial Lubricants Market is Expected to Exhibit Growth at a Substantial Rate

Industrial Lubricant Market
Market Trends
Industrial lubricant market is experiencing an increase in the demand of dry and bio-based lubricants. Due to EU regulations bio-lubricants have been used in Europe for the past 20 years.  Various regulations and schemes such as the EU Ecolabe in EU countries and growing environmental concerns has resulted in the growing adoption of industrial bio-lubricants
Dry industrial lubricants comprise of graphite and molybdenum, amongst others that offers excellent lubrication properties at temperatures of around 350 °C, which is greater than their liquid and oil-based counterparts. This has resulted in increased R&D activities in the field of dry industrial lubricants. For instance, the Technical Standards Development and Application Demonstration Base of Graphene-Modified Lubricant was launched at LiuGong’s global R&D Centre in Liuzhou, in July 2018. It was built by the China Innovation Alliance of the Graphene Industry in association with Guangxi Liugong Machinery.
Several additives are added to industrial lubricants in order to impart the required performance characteristics to the lubricants. Currently, automotive lubricants contain around 10 additives, which accounts to around 20% of the lubricant. Some of the additives used in lubricants include pour-point depressants, corrosion inhibitors, and friction modifiers, amongst others.
Market Outlook
The industrial lubricants market is expected to exhibit growth at a substantial rate. in Asia Pacific region. The Asia Pacific is expected to be the fastest growing region in the global industrial lubricants market during the forecast period. This is due to growth of the automotive sector in the region. According to the Alliance of Automobile Manufactures, since 2006, Asia Pacific has witnessed significant increase in number of passenger cars, which accounted for around 50% of the world’s passenger cars in 2016.  The Alliance of Automobile Manufactures also states that the Asia Pacific region was also dominant the market for motorcycles, which accounted  for around 80-90% of the total motorcycle production and consumption, globally in 2015. These factors are expected to increase demand for industrial lubricants in the region.
Key Players
Some of the major players operating in the industrial lubricants market include British Petroleum Plc, Cargill Incorporated, Chevron, Total S.A., Binol Biolubricants, Conocophilips Company, Exxon Mobil Corporation, Fuchs Lubricants, Sinopec Corporation, Indian Oil Corporation, Miller Oils, Panolin International, Petrobras, Petrochina Company, Renewable Lubricants Inc., Royal Dutch Shell, and Statoil Lubricants, among others.
 Market Taxonomy
Global industrial lubricants market is segmented into:
Base Oil
  • Mineral
  • Synthetic
  • Bio-based
Lubricant Type
  • Hydraulic Lubricants
  • Metal Cleaners
  • Gear Lubricants
  • Compressor Lubricants
  • Turbine Lubricants
  • Grease
    • Soap Thickener
    • Non-soap Thickener
    • Inorganic Thickeners


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