Global industrial lubricants market is anticipated to grow at a significant CAGR of 14.3% during the forecast period (2024-2031). The market growth is attributed to the growing expansion of manufacturing operations globally and the rising demand for machinery and equipment across industries, which is linked to the growing need for efficient lubrication solutions. Industrial lubricants have wide-ranging applications in the machinery, automotive, manufacturing, power generating, construction, and marine industries, among other sectors. They are used to lessen friction, stop wear, release heat, and shield moving parts from corrosion. For instance, in March 2023, ExxonMobil announced an investment of nearly INR 900.0 crore ($110.0 million) to build a lubricant manufacturing plant at the Maharashtra Industrial Development Corporation’s Isambe Industrial Area in Raigad. The plant can potentially manufacture 159,000 kiloliters of finished lubricants annually to meet growing domestic demand from industrial sectors such as manufacturing, steel, power, mining, and construction, as well as from passenger and commercial vehicle segments.

The branded product combines the expertise of industry participants in premium lubricants that support mobility initiatives. For internal combustion engines, battery electric vehicles, and related items to be offered in the market, automotive companies require lubrication. For instance, in April 2024, SAIC Motor and Castrol announced a strategic agreement introducing a new co-branded lubricant for Central and Eastern Europe (CEE) Mg Customers. The agreement brings together two heritage brands to provide solutions tailored to enhance performance and efficiency across MG's diverse range of vehicles.

Market players expanded the brand to include lubricants, which is a high-performance line for the industrial sector. The extensive capabilities in research and development, make them a quality line of lubricants that boost the local market offering and enhance consumer choice. For instance, in December 2021, Aramco announced its entry into Saudi Arabia’s domestic lubricant market, offering consumers a new line of lubricant products under the ORIZON® brand. Aramco has introduced the ORIZON® product line in more than 20 cities including Riyadh, Jeddah, and Dammam with more locations planne

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Market Coverage

The market number available for – 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By Base Oil Type
By Product Type
By End-Use Industry

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- BP p.l.c., Chevron Corp., Exxon Mobil Corp., Shell plc, and TotalEnergies SE among others.

Industrial Lubricants Market Report Segment

By Base Oil Type

Mineral Oil
Bio-based Oil

By Product Type

Hydraulic Oil
Compressor Oil
Metalworking Fluid
Gear Oil
Turbine Oil
Marine Oil
Grease
Others (Gun Oil)

By End-Use Industry

Construction
Metal & Mining Production
Cement Production
Power Generation
Automotive (Vehicle Manufacturing)
Chemical
Oil & Gas
Food Processing
Others (Textile)

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Industrial Lubricants Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa

Company Profiles

ADDINOL Lube Oil GmbH
AMSOIL INC.
Calumet Branded Products, LLC
China Petroleum & Chemical Corp. (SINOPEC)
ENEOS Group
Enilive S.p.A.
FUCHS SE
Idemitsu Kosan Co., Ltd.
Indian Oil Corporation Ltd.
KLÜBER LUBRICATION INDIA Pvt. Ltd.
The Lubrizol Corporation
Morris Lubricants Online
MOTUL S.A.
Petróleo Brasileiro S.A.
PETRONAS Lubricants International
Phillips 66 Company
PJSC LUKOIL
Quaker Chemical Corp.
The Dow Chemical Company
Valvoline Cummins Pvt. Ltd.

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