The global oil and gas lubricant industry is estimated to is expected to reach USD 166.25 billion by 2025 at a CAGR of 3.9% during the forecast period. Lubricants refer to those substances which are used to reduce friction between two surfaces in mutual contact. Its primary use is to reduce the heat generated. It prevents loss of energy (into unwanted heat energy) and enhances the longevity of the material. Another group of lubricants namely coolants are used to prevent overheating in the machines. Anti-freezers are yet another type which brings down the melting point of the material thus preventing blockade in the machines (due to solidification) while being used in extremely cold conditions.
The end users industries are construction, machinery, automotive, marine, textiles, food processing etc.
Based on the current global scenario the following factors are prominent in deciding the fate of the industry.
The demand for oil and gas are increasing every passing day. It has lead to several offshore extraction processes from the oilfields beneath the oceans. This involves heavy machinery working under harsh conditions (high saline content, high pressure and subzero-temperature). Anti-freezers are used to prevent solidification and greases to prevent corrosion. Rise in these activities directly leads to the positive growth in the market.
A boom in the shale business in North-America has also played a major role in supporting the market.
Lubricants comprise the primary working fluid in the hydrostatic power transmission.
Greases are widely used in heavy machinery and automobiles to reduce friction and the corrosive effects.
This has given a major boost to the industry.
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The growth of the industry is directly tied up with the oil and gas industry. Consequently sharp fall in the crude oil prices has proved to be the major hindrance in the growth of the industry.
Advancement in technologies and material science could increase the efficiency of the lubricating fluids which would indirectly enhance the durability and performance of machines worldwide, and prevent unnecessary power loss. This would boost several other industries.
The market can be segmented into the following parts:
The Middle East and Africa
By product types:
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The Asia-Pacific region is the forerunner in the present global arena. It is home to some of the major emerging nations like India, China, Japan, South Korea etc. North America and the north-sea regions happen to have lucrative market opportunities owing to increased offshore activities and increased shale production. Latin America and the Middle East are still developing and are expected to register an impressive CAGR in the coming years.
Some of the major companies in the market are:
Groeneveld Group BV
Solan Lubrication Systems
Indian Oil Coorporation Ltd.
The report contains comprehensive analysis on:
Oil and Gas Lubricant Market Segments
Oil and Gas Lubricant Market Drivers, Restraints and Opportunities
Oil and Gas Lubricant Market Size & Forecast 2017 to 2023
Supply & Demand Value Chain
Oil and Gas Lubricant Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Oil and Gas Lubricant Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
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