The global industrial lubricants market size is expected to reach USD 71.73
billion by 2025 registering a CAGR of 4.5%, according to a new report by Grand
View Research, Inc. Improving PMI indices across the globe and resultant rise
in production capacities are anticipated to boost the demand for industrial
lubricants. Moreover, rising manufacturing activities are touted to spur
investments in production machinery, thereby creating a strong growth potential
for industrial lubricants.
High consumption of general industrial oils
generate significant revenue attributing to the growth of industrial lubricants
market. Related industries, such as chemicals, unconventional energy and
mining, are slated to witness considerable growth. This trend is anticipated to
further boost the product demand in compressors, industrial engines,
hydraulics, centrifuges, and bearings. Companies are investing heavily in
R&D for the development of innovative products to gain competitive edge in
the industry. There has been a shift in trend towards use of bio-based raw
materials due to rising awareness regarding the need for emission reduction and
energy conservation.
Access Report Of Industrial
Lubricants Market @
https://www.grandviewresearch.com/industry-analysis/industrial-lubricants-market
https://www.grandviewresearch.com/industry-analysis/industrial-lubricants-market
Further key findings from the study suggest:
· 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
Grand View Research has segmented the
global industrial lubricants market on the basis of product, application, and
region:
Industrial Lubricants Product Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Process Oils
·
General Industrial Oils
·
Metalworking Fluids
·
Industrial Engine Oils
·
Other Industrial Lubricants
Industrial LubricantsApplication Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Metalworking
o
Metal Forming
o
Metal Cutting
o
Metal Joining
o
Metalworking Electronics
o
Industrial Heat Exchangers
o
Other Metalworking Applications
·
Textiles
o
Textile Weaving
o
Non-woven Textiles
o
Textile Finishing
o
Textile Composites
o
Other Textile Applications
·
Energy
o
Transformers
o
Pipelines
o
Liquefied Natural Gas (lNG)
o
Ocean Energy
o
Other Energy Applications
·
Chemical Manufacturing
·
Industrial gases
o
Fertilizers
o
Polymers
o
Other Chemicals Manufacturing
o
Beverages
·
Food Processing
o
Frozen Food
o
Canned Food
o
Processed Potatoes
o
Bakery
o
Cocoa & Chocolate
o
Other Food Applications
·
Hydraulic
o
Compressors
o
Bearings
o
Other Hydraulic Applications
Industrial Lubricants Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
·
Asia Pacific
o
China
o
India
o
Japan
o
Southeast Asia
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
o
UAE
About
Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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