Market Overview

Global Industrial Lubricants Market Growth, Trends and Forecasts to 2023 - Usage of Metalworking Fluids are Expected to Increase - ResearchAndMarkets.com

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The "Global
Industrial Lubricants Market - Segmented by Base Oil, Type, End-User
Industry, and Geography - Growth, Trends and Forecasts (2018 - 2023)"

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The global industrial lubricants market is expected to grow at a
moderate CAGR during the forecast period. Industrial lubricants are
basically greases and oils that are used in order to lessen wear and
tear of materials while reducing binding and friction. In some cases,
they also offer electrical resistivity while increasing the thermal
conduction.

Automotive Production Growth in Asia-Pacific (APAC) and Europe

Lubricants are primarily used by OEMs during the production of
automobiles. These are also used extensively in the automotive refinish
and aftermarket. With rising consumer spending and growing population in
Asia-Pacific, the global automotive production has been increasing
constantly. Asia-Pacific and Europe have been the prime regions
supporting the growth of automotive production, with year-on-year growth
rates of 7.6% and 2.5%, respectively, for 2016-17. China, India, the
Philippines, and Vietnam are turning out to be potential markets for
demand and supply of automobiles, owing to many automotive manufacturers
establishing their manufacturing and assembly plants in these countries.
This can be attributed to the availability of labor at low costs, raw
material prices, and growing urban population in the region.

Usage of Metalworking Fluids are Expected to Increase

Metalworking fluids are used to lubricate and reduce the heat of cutting
tools and the metal work piece. They increase the lifetime of the
cutting tool by increasing the efficiency through cleaning the surface,
removing chips, etc. Significant contractions in automotive and metal
production in 2015-2016 (as a result of the global economic crisis) led
to a depressed metalworking fluid demand. However, the recent rebound of
the automotive industry has brought a significant uptick in the demand
for metalworking fluid products. Demand for metalworking fluids in
applications, such as metal removal, metal protecting, metal forming,
and metal treating is estimated to rise rapidly (due to growth in the
end-user industries, such as automation, steel, and OEMs).

Germany to Dominate the European Market

Germany witnessed a 20% increase in the new residential building permits
in 2016, and in 2017, the construction sector registered a turnover of
Euro 112.2 billion. The construction & building industry in the country
is expected to experience the boom, owing to the growing demand for real
estate in the nation, due to increasing population growth and job
security, and low borrowing costs. According to the officers of Deutsche
Bauindustrie and Deutsche Baugewerbe, the residential construction was
the main driver of growth with a positive growth rate of 7% for 2017.
With such growth in the automotive and construction industries, the
demand for lubricants used in these industries is expected to witness a
moderate growth during the forecast period.

Major Players

  • BASF SE
  • ExxonMobil
  • Chevron Corporation
  • ConocoPhillips
  • Lukeoil
  • others

Other Prominent Players

  • Royal Dutch Shell Plc
  • Total S.A.
  • BP Plc
  • China Petrochemical Corporation (Sinopec Group)
  • Petronas Lubricants International
  • PT Pertamia
  • Gazpromneft - Lubricants
  • Indian Oil Corporation
  • ENI S.p.a
  • Petrobras

Key Topics Covered

1. Introduction

2. Executive Summary

3. Market Insights

4. Market Dynamics

5. Market Segmentation & Analysis (Market Size, Share and Forecast)

6. Regional Market Analysis (Market Size, Share and Forecast)

7. Competitive Landscape

8. Company Profiles (Overview, Financials, Products & Services, Recent
Developments, and Analyst View)

For more information about this report visit https://www.researchandmarkets.com/research/ktbcz6/global_industrial?w=4

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