Pune, India -- (SBWIRE) -- 10/16/2018 -- Market Scenario:

Industrial lubricants are used to reduce friction. Their primary function is to displace solid surfaces with a fluid film. They are used to modify surface properties, regulate temperature, or remove debris. High demand from the automotive sector is the key factor driving the growth of the industrial lubricants market. To ensure smooth working of machines in industries, the demand for grease increasing in industries is also fuelling the growth of the global industrial lubricants market. On the other hand, increasing popularity of hybrid electric vehicles may hamper the growth of the global industrial lubricants market. Global industrial lubricants market was valued at USD 56.87 billion in 2016, and is expected to grow at CAGR of 2.4% by 2022.

Study Objectives of Global Industrial Lubricants Market

- To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global industrial lubricants market.

- To provide insights about factors affecting the market growth

- To analyze the global industrial lubricants market based on various Factors such as Supply Chain Analysis, and Porter's Five Force Analysis

- To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries

- To provide country level analysis of the market with respect to the current market size and future prospective

- To provide country level analysis of the market for segments by type, end users and region
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the industrial lubricants market

- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the industrial lubricants market

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Global Industrial Lubricants Market - Competitive Analysis

Global Industrial Lubricants Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Industrial Lubricants manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Industrial Lubricants for every application.

Industry News

In November 2017, Energy giant Royal Dutch Shell has opens massive new lubricant plant in Tuas. The plant will produce up to 430 million litres of industrial lubricants and greases a year.

In June 2017, ExxonMobil has announced the completion of the expansion of its lubricant facility in Jurong, Singapore to increase production of grease and synthetic lubricants, including Mobil 1TM, the company's flagship synthetic engine oil. The expansion of the Jurong lubricant plant further strengthens the company's manufacturing capabilities and its ability to meet the growing demand for grease and synthetic lubricants products in the Asia Pacific region.

In May, 2017, Petronas expand its lubricant-blending plant in Shandong, China to meet the market's growing demand for the product. The annual output of the plant within the Weifang Economic Development Zone was expected to increase from 45,000 to 150,000 tonnes, which included automotive and industrial lubricant.

Industrial Lubricants Market - Segmentation

Global Industrial Lubricants Market is segmented in to two key dynamics for an easy grasp and enhanced understanding

Key Players:

ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (The 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), and Idemitsu Kosan Co. Ltd (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Industrial Lubricants Market.

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