Grand View Research’s Lubricants Industry database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed Industrial outlook report) and summary presentations on individual areas of research along with a statistics e-book. 

Access the Global Lubricants Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Industrial Lubricants Market Report Highlights

The global Industrial Lubricants Market size was estimated at 16.24 million tons in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030.

• 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

Automotive Lubricants Market Report Highlights

The global Automotive Lubricants Market size was estimated at 24.18 million tons in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.8% from 2023 to 2030.

• The global market is estimated to advance with a compounded annual growth rate (CAGR) of 3.5% from 2023 to 2030. This is attributed to the advancing use of automobiles worldwide
• Engine oil in the product segment dominated the market with a revenue share of 54.8% in 2022. This growth is attributed to the fact that it contributes to keeping the engine corrosion-free, cool, and clean
• Gear oil is another segment witnessing growth over the forecast period. This is due to the fact that gear oil is one of the significant products in the market on account of its high viscosity, which eventually helps protect gear components and ensure smooth gear operations
• Asia Pacific region dominated the global market with a revenue share of 57.2% in 2022. This growth is due to the increasing production of automobiles in China and India. According to OICA, China produced 3.18 million commercial vehicles and 23.84 million cars in 2022, a growth of 3% as compared to 2020
• North America is another region witnessing growth in 2022. According to the International Organization of Motor Vehicle Manufacturers (OICA), the U.S. produced 10.06 million vehicles in 2022, a growth of 10% as compared to 2021
• Additionally, according to Statics Canada, approximately 1.6 million new vehicles were registered in Canada in 2021 which was 6.5% higher as compared to vehicles registered in 2020. Thus, the advancing automotive industry is further anticipated to drive the demand for products over the period

Order your copy of Free Sample of “Lubricants Industry Data Book - Automotive Lubricants, Industrial Lubricants, Marine Lubricants and Aerospace Lubricants Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Marine Lubricants Market Report Highlights

The global Marine Lubricants Market size was estimated at 1.93 million tons in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2030.

• Hydraulic oils are anticipated to emerge as the fastest-growing segment over the forecast period. These are used for extending pump life under severe conditions, maintain cleanliness, and reliable air release filterability. Lubricants are also utilized in gear oil for the protection of high horsepower marine engines. The product is fortified with anti-foaming agents, which prevents cavitation at high RPM’s.
• North America is projected to remain a prominent regional market, registering a CAGR of 3.7% during the forecast period. The growth of the region can be attributed to rally of the marine sector.
• Asia Pacific is likely to remain the fastest-growing region with a 4.6% CAGR from 2023 to 2030. Some of the factors contributing to the growth of APAC are increasing number of ports, surging trade activities with the U.S. and other developed economies, and rapidly expanding shipbuilding sector.
• Major industry participants are increasingly engaging in R&D, strategic collaborations, new product launches, and other strategies in order to consolidate their positions in the market.

Go through the table of content of Lubricants Industry Data Book to get a better understanding of the Coverage and Scope of the study

Competitive Landscape

Prominent players as well as new entrants are focusing on the development of bio-based lubricants, owing to the future concerns of energy security for petroleum products. Bio-lubricants being in the immature phase have certain restrictions such as temperature resistance and oxidative stability. Companies are hence investing in the R&D activities for these products.

Key players operating in the Lubricants industry are:

• Amsoil Inc
• CASTROL LIMITED
• Philips 66 Company
• Valvoline LLC
• Idemitsu Kosan Co. Ltd
• Lukoil

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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