글로벌 윤활유 시장 규모, 점유율 및 추세 분석 보고서 – 산업 개요 및 2031년까지의 예측

윤활유 시장 분석

윤활제 시장은 기술과 방법의 발전으로 인해 상당한 성장을 목격하고 있습니다. 최근 혁신에는 우수한 성능과 감소된 환경 영향을 제공하는 합성 및 생물 기반 윤활제 의 개발이 포함됩니다 . 특정 응용 분야에 맞게 설계된 합성 윤활제는 효율성을 높이고 장비 수명을 연장하여 자동차 및 산업 기계와 같은 분야에서 점점 더 인기를 얻고 있습니다.

또한, 첨가제 기술의 발전으로 인해 고성능 응용 분야에 필수적인 열 안정성, 산화 저항성 및 마모 보호 기능이 향상된 윤활제가 탄생했습니다. 예를 들어, 나노 첨가제를 통합하면 윤활제 특성이 향상되어 더 낮은 용량에서도 더 나은 윤활이 가능해졌습니다.

전기 자동차 (EV) 의 증가는 제조업체가 열 관리 및 마찰 감소와 같은 전기 구동계의 고유한 요구 사항을 충족하기 위해 제형을 조정함에 따라 윤활제 시장도 견인하고 있습니다.

또한 산업 자동화의 성장은 기계 성능을 최적화하고 가동 중단 시간을 줄이는 데 효율적인 윤활이 필수적이기 때문에 고급 윤활제에 대한 수요를 증가시키고 있습니다. 전반적으로 윤활제 시장은 기술 혁신과 보다 지속 가능한 제품으로의 전환에 의해 크게 성장할 것으로 예상됩니다.

윤활제 시장 규모

글로벌 윤활제 시장 규모는 2023년에 1,411억 8,000만 달러로 평가되었으며, 2031년까지 1,962억 1,000만 달러에 도달할 것으로 예상되며, 2024년에서 2031년까지의 예측 기간 동안 CAGR은 4.20%입니다. Data Bridge Market Research에서 큐레이팅한 시장 보고서에는 시장 가치, 성장률, 세분화, 지리적 범위, 주요 업체와 같은 시장 시나리오에 대한 통찰력 외에도 수입 수출 분석, 생산 능력 개요, 생산 소비 분석, 가격 추세 분석, 기후 변화 시나리오, 공급망 분석, 가치 사슬 분석, 원자재/소모품 개요, 공급업체 선택 기준, PESTLE 분석, Porter 분석 및 규제 프레임워크가 포함됩니다.

윤활제 시장 동향

“생물 기반 윤활제의 성장”

윤활유 시장 성장을 견인하는 중요한 추세는 지속 가능성과 친환경 제품에 대한 수요 증가입니다. 소비자와 산업은 환경을 더욱 의식하게 되면서 윤활유 제조업체는 생물 기반 및 생분해성 윤활유를 개발하게 되었습니다. 예를 들어, 2024년 1월 Shell UK Limited는 M&I Materials Ltd.로부터 MIDEL과 MIVOLT를 인수하여 해당 제품을 Shell의 윤활유 포트폴리오에 통합했습니다. 이 전략적 움직임은 해상 풍력 발전소, 유틸리티 회사 및 전력 분배에 필수적인 변압기 오일을 생산하는 Shell의 역량을 강화하는 것을 목표로 합니다. 이 인수는 윤활 솔루션 분야에서 Shell의 시장 입지와 기술적 우위를 강화할 것으로 예상됩니다.

보고서 범위 및 윤활유 시장 세분화  

Lubricants Market Definition

Lubricants are substances, often liquids or semi-solids that reduce friction between surfaces in mutual contact, thereby minimizing wear and tear. They play a crucial role in various industries, including automotive, manufacturing, and aerospace, by enhancing the efficiency and lifespan of machinery and components. Common types of lubricants include oils, greases, and pastes, which can be derived from petroleum or synthesized from chemical compounds. Beyond mechanical applications, lubricants are essential in food processing, pharmaceuticals, and personal care products. The market for lubricants is driven by advancements in technology and the growing demand for environmentally friendly options, such as bio-based lubricants.

Lubricants Market Dynamics

Drivers

• Rising Demand for High-Performance Products

The lubricants market is significantly driven by the increasing demand for high-performance products across various industries. Companies are focusing on lubricants that enhance protection against wear, reduce friction, and improve overall operational efficiency. For instance, In June 2023, FUCHS Lubricants Co. unveiled the RENOLIT CSX AWE 0, a specialized grease designed for truck trailer axle hubs. This innovative product leverages lithium-free grease technology, which effectively reduces friction and temperature in heavy-duty trucks. The launch complements FUCHS's existing lubricant product line, showcasing the company's commitment to developing advanced solutions that enhance operational efficiency and reliability in the transportation sector.

• Automotive Sector Expansion

The automotive sector's expansion significantly drives the lubricants market, particularly in the Asia-Pacific region. Countries such as China and India are witnessing a surge in vehicle production and sales due to rising disposable incomes and urbanization. For instance, in 2023, China's vehicle production reached approximately 27 million units, fueling the demand for high-quality automotive lubricants such as engine oils and transmission fluids. This growth encourages manufacturers to develop advanced lubricant formulations that enhance fuel efficiency and engine performance. In addition, the shift towards electric vehicles (EVs) also creates new opportunities for specialized lubricants, further expanding the market landscape.

Opportunities

• Growth in Renewable Energy

The expansion of renewable energy sectors, particularly wind and solar, creates significant opportunities in the lubricants market. Specialized lubricants are essential for the unique operational environments of wind turbines and solar panels. For instance, lubricants used in wind turbines must withstand extreme temperatures and resist corrosion from moisture and salt. As global investments in renewable energy projects rise, companies are increasingly seeking high-performance lubricants that enhance equipment efficiency and longevity. A report from Fortune Business Insights indicates that the global wind energy market alone is projected to grow from USD 109.79 billion in 2021 to USD 211.61 billion by 2028, driving demand for tailored lubricant solutions.

• Increased Machinery Usage

The growing reliance on machinery across sectors such as agriculture, mining, and manufacturing creates significant opportunities in the lubricants market. As these industries expand, the demand for high-quality lubricants to maintain equipment efficiency and longevity intensifies. For instance, in August 2023, Valvoline launched a new range of Valvoline 4-stroke Full Synthetic Premium Motor Oil tailored for marine and powersports applications. Designed to withstand the high torque and elevated temperatures characteristic of four-stroke ATV/UTV and marine engines, this innovative oil formulation promises improved engine performance and protection. The new product line emphasizes Valvoline's commitment to meeting the demanding requirements of modern recreational vehicles.

 Restraints/Challenges

• Volatility in Raw Material Prices

Volatility in raw material prices significantly hinders the lubricants market. Fluctuations in crude oil prices, a primary component in lubricant production, can lead to unexpected cost increases. When crude oil prices surge, manufacturers face higher production costs, which often translate to elevated retail prices. These sudden price hikes can adversely affect consumer demand, as businesses and individuals may seek cheaper alternatives or reduce lubricant usage. Moreover, the uncertainty associated with raw material pricing complicates financial forecasting for lubricant manufacturers, making it challenging to maintain profit margins and plan for future investments. Consequently, this volatility creates a precarious environment for the lubricants market.

• Shift Toward Synthetic Alternatives

The shift toward synthetic alternatives in the lubricants market poses significant challenges for traditional manufacturers. Synthetic lubricants generally provide superior performance, including better thermal stability and longer service life. However, their higher costs can deter consumers, particularly in price-sensitive markets. This price differential can lead to decreased demand for conventional lubricants, forcing manufacturers to re-evaluate their pricing strategies. As more consumers opt for synthetic options, traditional lubricant manufacturers risk losing market share. The competitive landscape shifts as companies adapt to consumer preferences, creating pressure on profitability and potentially leading to a decline in sales for those unable to transition effectively.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Lubricants Market Scope

The market is segmented on the basis of base oil, product and end-user industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Base Oil

• Mineral Oil
• Synthetic Oil
• Bio-Based Oil

Product

• Engine Oil
• Hydraulic Fluid
• Metalworking Fluid
• Gear Oil
• Compressor Oil
• Grease
• Turbine Oil
• Others

 End-Use Industry

• Transportation
• Industrial
  • Process Oils
  • General Industrial Oils
  • Metalworking Oils
  • Industrial Engine Oils
  • Greases
  • Others

Lubricants Market Regional Analysis

The market is analysed and market size insights and trends are provided by base oil, product and end-user industry as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific is expected to dominate the lubricants market, driven by rapid urbanization and industrialization in countries such as China and India. The increasing population and rising demand for automotive and industrial lubricants further contribute to revenue growth. Key factors include a growing manufacturing sector, heightened automotive production, and significant infrastructure development projects, all of which are propelling the lubricants market forward in this region.

Europe is anticipated to be the fastest-growing region in the lubricants market during the forecast period, driven by a significant increase in chemical manufacturing facilities. This growth is fueled by rising industrial activities, investments in sustainable technologies, and stringent environmental regulations encouraging the use of advanced lubricants. As a result, the demand for high-performance lubricants is expected to surge, enhancing market growth in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Lubricants Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Lubricants Market Leaders Operating in the Market Are:

• Shell PLC. (U.K.)
• BP p.l.c. (U.K.)
• FUCHS (Germany)
• Petroliam Nasional Berhad (Patrons) (Malaysia)
• Lubrita Europe B.V (Europe)
• Liberty Lubricants (U.S.)
• China Petrochemical Corporation (China)
• TotalEnergies (France)
• ExxonMobil Corporation (U.S.)
• Phillips 66 Company (U.S.)
• Indian Oil Corporation Ltd. (India)
• Idemitsu Kosan Co.,Ltd. (Japan)
• Chevron Corporation (U.S.)
• JX Nippon Oil & Gas Exploration Corporation (Japan)
• KLÜBER LUBRICATION INDIA Pvt. Ltd. (India)
• Mineral Oil Corporation (India)
• Valvoline (U.S.)
• ENEOS Holdings, Inc, (Japan)

Latest Developments in Lubricants Market

• In January 2024, Shell U.K. Limited completed the acquisition of MIDEL and MIVOLT from M&I Materials Ltd., integrating their products into Shell’s Lubricants portfolio. This strategic move is aimed at enhancing Shell’s capabilities in producing Transformer Oils, which are essential for offshore wind parks, utility companies, and power distribution. The acquisition is anticipated to strengthen Shell’s market presence and technological edge in lubrication solutions
• In June 2023, In June, Shell and Ducati announced a collaboration focused on developing a high-performance oil specifically for the Ducati Panigale equipped with a dry clutch. Utilizing Shell's proprietary PurePlus technology, the new oil formulation aims to enhance engine protection by minimizing friction and wear. This partnership reflects Shell’s dedication to engineering advanced lubricants tailored to the unique needs of high-performance motorcycle engines
• In March 2023, Aramco finalized the acquisition of Valvoline Inc.'s global products business, Valvoline Global Operations, in a deal valued at USD 2.65 billion. This acquisition marks a significant step for Aramco, enabling it to broaden its product offerings and market reach. Both companies aim to leverage their combined strengths to expand Valvoline’s brand presence and distribution capabilities across international markets, enhancing customer access to quality lubricants
• In March 2023, ExxonMobil announced plans to invest approximately INR 900 crore (around USD 110 million) in constructing a lubricants production facility in Raigad, Maharashtra, India. This new plant, expected to have an annual production capacity of 159,000 kiloliters of finished lubricants, aims to meet the rising demand from diverse sectors such as mining, construction, power, steel, and manufacturing, strengthening ExxonMobil’s footprint in the Indian market
• 2022년 Shell Plc는 PJSC LUKOLI와 중요한 계약을 맺었고, Shell은 러시아의 윤활유 사업인 Shell Neft LLC를 도매했습니다. 이 계약은 러시아 북서부 지역에 위치한 약 411개의 소매점을 포함합니다. 이 거래는 어려운 시장에서 운영을 간소화하고 해당 지역의 고객에게 지속적인 서비스를 보장하기 위한 Shell의 전략적 노력을 강조합니다.
• 2022년 Chevron Corporation은 인도네시아에서 저탄소 솔루션에 초점을 맞춘 잠재적 사업 기회를 모색하기 위해 PT Pertamina와 2022년 파트너십을 발표했습니다. 이 협업은 자연 기반 솔루션을 활용하여 지열 에너지 프로젝트와 탄소 상쇄 기술을 조사하는 것을 목표로 합니다. 이 파트너십은 지속 가능한 에너지 이니셔티브에 대한 Chevron의 헌신과 인도네시아의 더 깨끗한 에너지원으로의 전환을 지원하려는 노력을 반영합니다.

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