Industrial Lubricant Market is projected to display a growth represented by a CAGR of 3.03% during 2017 – 2022, chiefly driven by the rapid growth in industries and automotive sector. The new emerging industries like Mining, Marine, etc. along with the increase in manufacturing companies, both in developed and developing countries are driving the demand of high quality lubricants due to the growing presence of synthetic and bio lubricants in the market.
Rapid industrialization and increasing demand has raised the production rate in almost every manufacturing company, globally. Industries are now therefore more concerned with the maintenance of machinery to provide better quality product. This has escalated the demand of lubricants. Moreover with the need of enhanced lubricants to work under extreme conditions, its new technology will drive the market in coming future. Global Industrial Lubricant Market: Analysis By Product Base Oil (Mineral, Synthetic, Bio-based), By Type (Process Oil, General Industrial Lubricants, Metal Working Fluid, Industrial Engine Oil, Others), By Industry Application (Automotive, Power, Marine, Manufacturing, Mining, Others) , By Region (North America, South America, Europe, Asia Pacific, Middle East & Africa), By Country (U.S., Canada, Brazil, Germany, France, U.K., China, India, Japan, Egypt, Saudi Arabia): (2012-2022).
Company Analysis under Industrial Lubricant Market is Exxon Mobil, FUCHS Group, Royal Dutch Shell, BP Global, Total Lubricants, Sinopec Limited, PetroChina Company Limited and Indian Oil Corporation Limited (IOCL).
The report has covered and analysed the potential of Global Industrial Lubricant Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global industrial lubricant market. Additionally, the report also highlights market entry strategies for various companies across the globe.