산업용 오일 시장, 기회, 성장 촉진요인, 산업 동향 분석과 예측(2024-2032년)

The Global Industrial Oils Market was valued at approximately USD 64.3 billion in 2023 and is projected to grow at over 3.4% CAGR from 2024 to 2032.

A notable trend is the rising adoption of sustainable and bio-based lubricants. This shift is largely influenced by regulatory mandates, environmental concerns, and market dynamics. Stricter environmental regulations are pushing industries to move away from traditional petroleum-based lubricants, known for their higher carbon footprints and associated environmental risks. Governments globally are tightening environmental standards, urging companies to adopt greener solutions not just for compliance, but to sidestep potential penalties. This regulatory push aligns with a broader corporate focus on sustainability.

The industrial oils market is segmented into oil type, source, application, and region.

Based on source, the mineral and synthetic oils segment commanded a dominant market share of USD 46.5 billion, with projections to exceed USD 63.3 billion by 2032. This rapid growth is attributed to a wide application range and superior performance. Derived from crude oil, mineral oils, along with synthetic counterparts like polyalphaolefins (PAO), polyalkylene glycols (PAG), and esters, provide outstanding lubrication, thermal stability, and oxidation resistance. These qualities render them essential in industries with high demands.

In terms of oil type, the market encompasses process oil, hydraulic oils, engine oils, gear oils, metalworking fluids, turbine oils, refrigerating oils, compressor oils, heat transfer fluids, electrical insulating oils, specialized synthetic lubricants, biodegradable lubricants, and biofuel. The process oil segment, holding 15% of the market share in 2023, is set for continued growth through 2032, underscoring its pivotal role in boosting manufacturing efficiency and product quality across sectors. High-performance and versatile process oils are increasingly sought after, particularly in the rubber, plastics, and chemical sectors, due to their process-optimizing capabilities. Furthermore, the swift expansion of this market is bolstered by innovations in formulation, notably the emergence of refined and eco-friendly process oils.

Asia Pacific led the industrial oils market in 2023, generating a revenue of USD 24 billion, with projections reaching USD 32.9 billion by 2032. The region's dominance is attributed to swift industrialization, urbanization, and a burgeoning automotive and manufacturing sector. Economic growth, bolstered by infrastructure investments and tech advancements, has fueled this market surge. The demand for machinery maintenance, coupled with growth in construction and mining, further amplifies the market's expansion.

Table of Contents

Chapter 1 Methodology and Scope

• 1.1 Market scope and definition
• 1.2 Base estimates and calculations
• 1.3 Forecast calculation
• 1.4 Data sources
  • 1.4.1 Primary
  • 1.4.2 Data Mining Sources
    • 1.4.2.1 Paid sources
    • 1.4.2.2 Public sources

Chapter 2 Executive Summary

• 2.1 Industry 360° synopsis

Chapter 3 Industry Insights

• 3.1 Industry ecosystem analysis
  • 3.1.1 Key manufacturers
  • 3.1.2 Distributors
  • 3.1.3 Profit margins across the industry
• 3.2 Industry impact forces
  • 3.2.1 Growth drivers
  • 3.2.2 Market challenges
  • 3.2.3 Market opportunity
    • 3.2.3.1 New opportunities
    • 3.2.3.2 Growth potential analysis
• 3.3 Raw material landscape
  • 3.3.1 Manufacturing trends
  • 3.3.2 Technology evolution
    • 3.3.2.1 Sustainable manufacturing
      • 3.3.2.1.1 Green practices
      • 3.3.2.1.2 Decarbonization
  • 3.3.3 Sustainability in raw materials
  • 3.3.4 Pricing trends (USD/Ton)
    • 3.3.4.1 North America
    • 3.3.4.2 Europe
    • 3.3.4.3 Asia Pacific
    • 3.3.4.4 Latin America
    • 3.3.4.5 Middle East and Africa
• 3.4 Regulations and market impact
• 3.5 Porter's analysis
• 3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

• 4.1 Company market share analysis
• 4.2 Competitive positioning matrix
• 4.3 Strategic outlook matrix

Chapter 5 Market Size and Forecast, By Oil Type, 2021-2032 (USD Billion, Kilo Tons)

• 5.1 Key trends
• 5.2 Process oil
• 5.3 Hydraulic oils
• 5.4 Industry engine oils
• 5.5 Gear oils
• 5.6 Metal working fluids
• 5.7 Turbine and circulating oils
• 5.8 Refrigerating oils
• 5.9 Compressor oils
• 5.10 Heat transfer fluids
• 5.11 Electrical insulating oils
• 5.12 Synthetic lubricants for specialized applications
• 5.13 Biodegradable lubricants
• 5.14 Biofuel

Chapter 6 Market Size and Forecast, By Source, 2021-2032 (USD Billion, Kilo Tons)

• 6.1 Key trends
• 6.2 Mineral and synthetic oils
  • 6.2.1 Crude oil
  • 6.2.2 Polyalphaolefins (PAO)
  • 6.2.3 Polyalkylene glycols (PAG)
  • 6.2.4 Diesters
  • 6.2.5 Phosphate esters
  • 6.2.6 Polyol esters
  • 6.2.7 Silicones
  • 6.2.8 Fluorinated fluids
• 6.3 Bio-based oils
  • 6.3.1 Soybean
  • 6.3.2 Rapeseed
  • 6.3.3 Sunflower
  • 6.3.4 Palm
  • 6.3.5 Sunflower
  • 6.3.6 Corn
  • 6.3.7 Others (olive, safflower, copra, groundnut, linseed/flaxseed, and grape seed)

Chapter 7 Market Size and Forecast, Application, 2021-2032 (USD Billion, Kilo Tons)

• 7.1 Key trends
• 7.2 Automotive industry
• 7.3 Oil and gas industry
• 7.4 Heavy machinery and equipment
• 7.5 Manufacturing and industrial machinery
• 7.6 Aerospace and aviation
• 7.7 Mining and mineral processing
• 7.8 Construction and infrastructure
• 7.9 Power Generation and utilities
• 7.10 Chemical processing
• 7.11 Paints and coating
• 7.12 Cosmetics and personal care
• 7.13 Pharmaceuticals
• 7.14 Others

Chapter 8 Market Size and Forecast, By Region, 2021-2032 (USD Billion, Kilo Tons)

• 8.1 Key trends
• 8.2 North America
  • 8.2.1 U.S.
  • 8.2.2 Canada
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 France
  • 8.3.4 Italy
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 China
  • 8.4.2 India
  • 8.4.3 Japan
  • 8.4.4 South Korea
  • 8.4.5 Australia
  • 8.4.6 Rest of Asia Pacific
• 8.5 Latin America
  • 8.5.1 Brazil
  • 8.5.2 Mexico
  • 8.5.3 Argentina
  • 8.5.4 Rest of Latin America
• 8.6 MEA
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 South Africa
  • 8.6.4 Rest of MEA

Chapter 9 Company Profiles

• 9.1 ExxonMobil
• 9.2 Shell
• 9.3 PHILLIPS 66
• 9.4 Total Energies
• 9.5 Chevron
• 9.6 bp
• 9.7 Gazprom
• 9.8 Rosneft
• 9.9 Quacker Houghton Chemical Corp.
• 9.10 Lukoil
• 9.11 Petronas
• 9.12 Bharat Petroleum
• 9.13 FUCHS PETROLUB SE
• 9.14 Sinopec