“Rapid Industrialization and emergence of bio based lubricants has led to rising Domestic Consumption of Industrial Lubricants in India.”
Synthetic and Semi-synthetic Lubricants are majorly used in the industrial sector for the efficient functioning as well as smooth working of machines. Both the lube types are growing in popularity owing to their wide capability of improving industrial equipment’s productivity. These are widely available in liquid, semi-fluid and solid state and further possess various characteristics such as high Viscosity Index (VI), high level of thermal stability, low freezing point, high boiling point and others, thus collectively helping to reduce friction between surfaces of machinery parts and the rate of wear and tear. The base oil used to manufacture synthetic lubricants is highly refined and the additives added are of high quality thus, making synthetic lubricants the most preferred type of lubricant type.
Major end users such as construction, manufacturing and power generation utilize machineries that operate in extreme environments and have thermal and heat resistance properties. Synthetic lubricants are tailor made / customized lubricants which are designed as per specific customer requirements and hence conclude a more tractable option for industrial lubricant end users. Consumer awareness regarding usage of lubricants has improved which led to an increase in demand for HPPs (High Performance Products) i.e. synthetic and semi-synthetic lubricants which help the machine in performing under extreme stress conditions.
In terms of environmental impact, majority of lube manufacturers in India will shift their focus towards producing bio-based lubricants which are eco-friendly and made from natural alternatives. Emphasis on bio-based product development in India has changed the way in which companies are investing in lubricant R&D. Major oil companies such as Total, Shell, BP and others are actively investing in lube R&D activities.
Emergence of Bio Based Lubricants: Eco-friendly industrial lubricants in India can be used as an alternative to minimize the country’s environmental pollution for instance; bio-based lubes (organic lubricants) extracted from vegetable oils have shown superior quality lube properties (grade & viscosity) over the conventional mineral lubes with renewability and biodegradability as their differentiating factors. Several tons of lubricants are washed off into the water streams majorly due to leakages and inefficient disposal system, thereby leading to health related issues. Although bio-based lubricants in India comprise only of a small fraction of the total industrial lubricants volume, the growing awareness about environmental protection and awareness among formulators and end-users (large and MSMEs) are projected to increase demand for bio-based counterparts in the near future
Analysts at Ken Research in their latest publication “India Industrial Lubricants Market Outlook to 2023 – Expected Tailwinds from Construction, Automotive and Tire Manufacturing along with Surging Penetration from International Companies” believe that developing industrial lubricants for construction and mining based applications, improving sales and promotion/advertising of lubricants, introducing facilities for refining of used oil, recycling and effective disposal of lubricants, focusing towards improving logistics infrastructure and by investing in R&D will aid the industrial lubricants market in India. The market is expected to register positive CAGR of 5.0% in terms of revenue and 4.6% in terms of sales volume during the forecasted period FY’2018-FY’2023E.
The report is useful for end users including plastic manufacturers, metal working companies, auto and auto component manufacturers, construction companies, textile, cement, mining, paper and pulp manufacturers, power generation companies, steel manufacturers and food & beverage companies.
Key Segments Covered:
By Origin
Mineral based Lubricants
Semi-Synthetic Lubricants
Synthetic Lubricants
By Type of Industrial Lubricants
Hydraulic Oil
Metal Working Fluids
Industrial Gear Oils
Turbine Oils
Compressor Oils
Industrial Greases
Others (Synthetic gear lubricants, synthetic EP gear lubricants, synthetic polyglycol gear lubricants, compound gear lubricants, and food grade gear lubricants)
By Industrial End Use
Construction, mining and off-highway equipment
Iron and non-iron production
General manufacturing, textile & chemicals
Engineering equipment
Automotive sector
Power generation
Cement
Others (plastic, paper and pulp and steel)
By Type of Distribution Channel
Direct Sales
Dealer Network
By Regional Sales
North
South
East
West
By Basis of Packaging
Barrels, Drums and Tanker load
Smaller Packs
Key Target Audience:
Plastic Manufacturers
Metal Working Companies
Auto and Auto Component Manufacturers
Construction Companies
Textile Companies
Cement Companies
Mining Companies
Paper and Pulp Manufacturers
Power Generation Companies
Steel Manufacturers
Food & Beverage Companies
Time Period Captured in the Report:
Historical Period – FY’2013-FY’2018
Forecast Period – FY’2018-FY2023E
(FY refers to fiscal year ending 31st March of every year; E refers to Estimated Numbers)
Companies Covered:
Indian Oil Corporation Limited
Hindustan Petroleum Corporation Limited
Bharat Petroleum Corporation Limited
Shell India
Gandhar Lubes
Exxon Mobil
Raj Lubricants
Gulf Petrochem (IPOL)
Apar Industries
Balmer and Lawrie
Castrol
Total (Company)
Savita Oil
Valvoline cumins
GS Caltex
Gulf Oil Lubricants
Veedol Lubricants (Tide Water Oil)
Others (Universal Halwasiya Group – UHG, Chemoleum, Fuch, Kluber, Starol and remaining local manufacturers)
Key Topics Covered in the Report
Volatility in Crude Oil Prices
Industrial Lubricants Market Segmentation
Semi Synthetic and Synthetic Lubricants
Type of Lubricants India
Hydraulic Oil in India
Industrial Greases in India
Industrial Gear Oil in India
Turbine Oil in India
Compressor Oil in India
Specialized Oils in India
Market Segmentation by Packaging
National Oil Companies in India
Market Share of Major Players
Synthetic Lubricants India
Plastic Injection-Molding Machine Lubricants
Metal Working Fluids India
Neat Cutting Oil India
Recycling of Lubricants in India
Industrial Lubricants Market Future
For more information on the research report, refer to below link:
Related Reports
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91 9015378249
