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Energy Industry News Releases

Industrial Lubricants Market Worth 64.48 Billion USD by 2021

 



(EnergyIndustry.Net, May 29, 2019 ) The report "Industrial Lubricants Market by Type (Metalworking Fluid, Grease Hydraulic, Gear, Compressor, Turbine Oil), End-Use Industry (Construction & Mining, Metal, Cement, Power Generation, Manufacturing, Food), Base Oil, and Region - Global Forecasts to 2021", Published by MarketsandMarkets, The global market was valued at USD 57.09 Billion in 2016, and is projected to grow at a CAGR of 2.5% to reach USD 64.48 Billion by 2021.

Request for PDF brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=84594070

Massive industrial growth in Asia-Pacific & Middle East & Africa and rise in process automation is expected to drive the global industrial lubricants market

Metalworking fluid is anticipated to grow at the highest CAGR in the global industrial lubricants market from 2016 to 2021

The global Industrial Lubricants Market is segmented by type, namely, hydraulic oil, metalworking fluid, gear oil, compressor oil, grease, turbine oil, and others. The metalworking fluid segment is expected to grow at the highest CAGR in the global industrial lubricants market from 2016 to 2021. The growth of this segment is attributed to the rising metal consumption in the automotive industry.

Synthetic oil to be the fastest-growing segment of the global industrial lubricants market during the forecast period

Synthetic oil is projected to be the fastest-growing segment in the global industrial lubricants market during the forecast period. This high growth is mainly due to its high performance in extreme conditions, better viscosity index, higher shear stability, and chemical resistance. Synthetic oil based industrial lubricants can be customized according to the requirements, so that it can have a controlled molecular structure with predictable properties. The main drawback of synthetic oil based industrial lubricants is the high cost. However, the synthetic oil segment is projected to grow at the highest CAGR in the Asia-Pacific region during the forecast period, due to the high industrial growth and rising awareness in the region.

Don't miss out on business opportunities in Industrial Lubricants Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=84594070

Browse in-depth TOC on "Industrial Lubricants Market "
120 - Market Data Tables
68 - Figures
186 - Pages

Power generation is anticipated to be the fastest-growing end-use industry of the global industrial lubricants market during the forecast period

The demand for industrial lubricants is the highest in the power generation industry, due to the rising demand for energy across the globe. Power plants need particular grades of industrial lubricants that can provide superior performance, water resistance, with high corrosion inhibition. The use of industrial lubricants such as compressor oil, turbine oil, hydraulic oil grease and others in power generation industry ensure the highest efficiency and operating reliability.

Asia-Pacific to be the fastest-growing market for industrial lubricants during the forecast period

The Asia-Pacific industrial lubricants market is expected to grow at the highest CAGR during the forecast period. The high growth of the emerging economies and the increasing disposable income in the region make Asia-Pacific an attractive market for industrial lubricant manufacturers. The tremendous growth of industrial production and increased trade are primarily responsible for the high consumption of industrial lubricants.

Currently, the global industrial lubricants market is led by various market players such as ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (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), Idemitsu Kosan Co. Ltd (Japan), and others.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

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