Industrial Lubricants Market Segments, Product Type, Application and Forecast to 2022

Industrial Lubricants Market Research Report- Forecast to 2022

Industrial Lubricants Market Segments, Product Type,

Application and Forecast to 2022

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Copyright Š 2018 Market Research Future.

Industrial Lubricants Market Research Report- Forecast to 2022

1 Summary Industrial lubricants are used to reduce friction. Their primary function is to displace solid surfaces with a fluid film. They are used to modify surface properties, regulate temperature, or remove debris. High demand from the automotive sector is the key factor driving the growth of the industrial lubricants market.

To ensure smooth working of machines in industries, the demand for grease increasing in industries is also fuelling the growth of the global industrial lubricants market. On the other hand, increasing popularity of hybrid electric vehicles may hamper the growth of the global industrial lubricants market. Global industrial lubricants market was valued at USD 56.87 billion in 2016, and is expected to grow at CAGR of 2.4% by 2022.

Top Key Players: The key players of global Industrial Lubricants Market are ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (The Netherlands), Chevron Corporation (U.S.), BP p.l.c. (U.K.), Total S.A. (France), Petrochina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub AG (Germany), and Idemitsu Kosan Co. Ltd (Japan).

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Copyright Š 2018 Market Research Future.

Industrial Lubricants Market Research Report- Forecast to 2022

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Market Dynamics:

Drivers Growing industrialization, growing demand for goods, and rising economy are the major driving factors generating the growth of the market. The expanse of applications such as growing adoption of industrial lubricants owing to growing intensity of application such as extreme pressure gear lubricants.

The technical advancements such as differential additive structure, growing applications of additives such as anti-wear additives, corrosion protection additives and others help to function the lubricant under conditions of extreme stress, pressure and temperature which is the defining difference between industrial and other lubricants. The downfall of the oil prices has reduced the costs of stock material favoring the market. Specialized industrial lubricants such as high viscosity, high demulsibility, and others are the fastest growing group.

Market Segments:-

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Copyright Š 2018 Market Research Future.

Industrial Lubricants Market Research Report- Forecast to 2022

3 Market Research Analysis Asia-Pacific region dominates the global industrial lubricants market. Rapid growth in automotive and manufacturing sector in this region is a significant factor that spurs the demand of the market in APAC region. In Asia-Pacific region, global industrial lubricants market is expected to grow at the fastest pace during the forecast period. Saturated regions such as Europe is expected to grow at a moderate pace, owing to increasing output from end-use industries.

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Copyright Š 2018 Market Research Future.

Industrial Lubricants Market Research Report- Forecast to 2022

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Copyright Š 2018 Market Research Future.