Vancouver, BC -- (SBWIRE) -- 02/11/2021 -- Industrial lubricants are used in a variety of sectors to operate the industry safely and smoothly. In specific, manufacturing industries use chemical lubricants to prevent corrosion. The replacing of corroded sections can be costly, specifically steel and iron sections. Industrial lubricants help to remove waste particles and transfer them to a filter. In addition, lubricants are used with washing powder ingredients to further minimize pollutants. The demand is driven by the growing use of high-performance lubricants, especially in the wind energy sector and the growth of the cold chain industries.

Market Drivers
Growth in car production and a strong market for low viscosity fluids in the auto industry is expected to fuel the competition during the projected era. Industrial lubricants are being used to minimize friction and wear and to promote the safe and productive operation of the machinery. Technological advancements are projected to drive demand in developed countries. Environmental restrictions hinder the market. Increased policy on the handling of lubricants and water pollution is projected to impede the use of industrial lubricants in the foreseeable future. Manufacturing companies are seeking to create eco-friendly goods as an alternative to commercial lubricants.

Regional Landscape
The Asia Pacific region led the market demand for industrial lubricants due to the involvement of established vertical manufacturers and increased understanding of lubricants' benefits in the area. China has the biggest market for industrial lubricants. The nation is quickly evolving and is observing significant development in the manufacturing, electricity production, and petroleum industries.

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Key Highlights of Report
In December 2020, Nyara Energy, formerly known as Essar Oil, partnered with Shell, a major energy company, to sell the latter's industrial lubricants through its network of fuel stations in India. Nyara Energy has over 5,900 fuel stations in India and it plans to build new stations to reach 7,300 stations by 2022.

Hydraulic fluids offer a lubricating film, which reduces the wear and tear on moving parts of an equipment. Effectiveness of the film depends on the balance between viscosity of the lubricants, sliding speeds and loads, and fluid stability.

Synthetic oil has excellent low-temperature flow performance, it offers enhanced oxidation and thermal stability, and it has excellent wear protection. This type of oil is higher in quality and purity than mineral oils.

The construction segment held the largest share of the industrial lubricants market in 2019, due to high demand for construction activities in China and India. From dump trucks and draglines, bulldozers, to scrapers and shovels, all construction equipment are subjected to harsh conditions, which generates demand for lubricants.

The Asia Pacific region held the largest share of the global market, with high demand witnessed in China. The country is a rapidly developing nation and is witnessing strong growth of construction, power generation, and oil & gas sectors.

Key market participants include The Lubrizol Corporation, ExxonMobil Corp, Royal Dutch Shell, Amsoil, Inc., Valvoline International, Inc., Kluber Lubrication, Clariant, Chevron Corp., Petronas Lubricant International, and Quaker Chemical Corp.

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Product Type Outlook (Revenue, USD Billion; 2017–2027)
Hydraulic Fluid
Metalworking Fluid
Gear Oil
Compressor Oil
Grease
Turbine Oil
Others
Transformer Oil
Refrigeration Oil
Textile Machinery Lubricants

Base Oil Outlook (Revenue, USD Billion; 2017–2027)
Mineral Oil
Synthetic Oil
Polyalphaolefins (PAO)
Polyalkylene Glycol (PAG)
Esters
Group iii (Hydrocracking)
Bio-based Oil

End-use Industry Outlook (Revenue, USD Billion; 2017–2027)
Construction
Metal & Mining
Cement Production
Power Generation
Automotive (Vehicle Manufacturing)
Chemical
Oil & Gas
Textile
Food Processing
Others
Agriculture
Pulp & Paper
Marine (Deck Manufacturing)

Regional Outlook (Revenue, USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Here are the questions we answer...
At what rate will the Industrial Lubricants Market grow? What will be the value of the market in 2027?
What are the key technologies driving the Industrial Lubricants Market?
What would be the impact of Industrial Lubricants Market across different regions?
What are the strategies adopted by players to enter the APAC region?
What is the critical application of the Industrial Lubricants Market in the different sectors?
What are future growth strategies in the market?

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Table of Content
Chapter 1. Market Synopsis
1.1. Industrial Lubricants Market Definition
1.2. Industrial Lubricants Market Research Scope & Premise
1.3. Industrial Lubricants Market Methodology
1.4. Industrial Lubricants Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Industrial Lubricants Market Segmentation & Impact Analysis
4.1. Industrial Lubricants Market Product Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Chapter 5. Industrial Lubricants Market By Method Insights & Trends
Chapter 6. Industrial Lubricants Market By End-Use Insights & Trends
Chapter 7. Industrial Lubricants Market By Application Insights & Trends
Chapter 8. Industrial Lubricants Market Regional Outlook
Chapter 9. Industrial Lubricants Market Competitive Landscape
Chapter 10. Company Profiles
Continue…