A new report, Opportunities in Industrial Lubricants: North American Market Analysis (Industrial Oils and Fluids), by global market research and management consulting firm Kline, shows that overall U.S. consumption of industrial oils and fluids is an estimated 1,200 to 1,300 million gallon industry.
Process oil is the leading product category, accounting for slightly less than half of the market. General industrial oils, which include products such as hydraulic fluids, turbine, and circulating oils, as well as compressor and and gear oils, ranks second in consumption with almost one-fourth of the consumption.
Industrial engine oil, which is the third-leading category, is closely followed by metalworking fluid.
“It has been observed that major oil companies focus more on large-volume and high-margin products whereas specialty products manufacturers have created a niche for themselves,” says Sushmita Dutta, a Project Manager in Kline’s Energy Practice.
“ExxonMobil, Shell, Chevron, and Philips 66 are relatively strong in general industrial oils and industrial engine oils. Whereas metalworking fluids are the core business area for specialty suppliers, such as Houghton, Fuchs, and Henkel Technologies,” adds Dutta.
Read more: New report shows growth for industrial lubricants expected to remain stable
