As per the current market research conducted by the CMI Team, the global US Industrial Lubricants Market size is expected to record a CAGR of 3.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 8.05 Billion. By 2033, the valuation is anticipated to reach USD 10.81 Billion.
US Industrial Lubricants Market: Growth Factors and Dynamics
- Increased Focus on Industrial Automation: The emergence of large-scale preconditions in various fields lifting the usage level of automation offers new perspectives for creating individual lubricants for such systems. Lubricants such as these must be used where the equipment is exact and sensitive and where the maximum contact and rubbing are to be avoided; they are also used where there is as little manual handling as possible.
- Consumer Comfort with Technology: As such, there is interest in intelligent lubrication strategies that align with existing IT solutions for managing equipment and track assets, including sensors, monitors and software to track product, quality, performance of various machinery, and maintenance. This trend has facilitated operational excellence and reduced the application of manpower in lubrication systems.
- Increasing Industrial Demand for Efficiency and Performance: The Industrial Lubricants Market in the United States report constitutes intensive research and survey, according to which the manufacturers and industries are searching for higher efficiency, performance, and reliability. This demand fosters the creation of new splash lubricants that enhance equipment functioning and extend the time that a particular machine remains fully functional, which is crucial for industries with high dependability on equipment and machinery.
- Rising Awareness of Sustainability and Environmental Impact: The markets are looking for environmentally friendly lubricants due to awareness of environmental effects and legislation imposed on corporate organizations. Biodegradable and eco-friendly lubes are beginning to witness higher demand as the performance of these products is good and the impact on the environment is undesirable. This trend is positively putting pressure on companies to search for more effective product designs, which will assist them in achieving the set legal provisions and the expected customer demands.
- Technological Advancements in Lubrication Solutions: Formerly, the technological advancement of IoT monitoring and AI based maintenance analytics have become a part of machinery lubrication. Surprisingly, the advancement in technology also enables the industries to evaluate the performance of the lubricants with real-time maintenance and usage, indicating that it requires replacement and so on, which may help to reduce the operational cost of the industries and increase the usability of the machinery.
- Expansion of Manufacturing and Construction Sectors: The growth of industrialization, mainly within the manufacturing and construction sectors in the USA market, is a key factor in driving industrial lubricants. That is why, as these industries develop, there is an increased need to apply quality lubricant to ensure that the equipment lasts long, reduces or eliminates friction and enhances performance to avoid costly, time-consuming downtimes.
US Industrial Lubricants Market: New Product Launch
- In July 2024, Autoz365 Lubricants by Tesla Power India introduced new products in Ahmedabad that will improve engine performance. The introduction includes new advanced lubricants for engines meant to enhance the engine and overall longevity of the target market customers’ vehicles. Such a product expansion is intended to make Autoz365 viable in the fast-growing Indian automotive lubricants market and become one of the leaders in this segment.
- In October 2024, Chevron and HPCL launched their lubricant brand termed “Caltex” in India, intending to acquire a considerable part of the Indian automotive and industrial lubricant markets. The brand will also seek out and establish OEM relationships to broaden its reach and influence. The significance of this partnership is to enhance the presence of Caltex in India, enabling consumers and businesses in the country to access better lubricant products.
Report Scope
Feature of the Report | Details |
Market Size in 2024 | USD 8.05 Billion |
Projected Market Size in 2033 | USD 10.81 Billion |
Market Size in 2024 | USD 7.90 Billion |
CAGR Growth Rate | 3.5% CAGR |
Base Year | 2024 |
Forecast Period | 2025-2034 |
Key Segment | By Application, Product Type, End User and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Buying Options | Request tailored purchasing options to fulfil your research requirements. |
US Industrial Lubricants Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the US Industrial Lubricants Market, with the industry experiencing positive and negative effects. Here are some of the key impacts:
- Demand Fluctuations: The outbreak of COVID-19 caused the staking of industrial projects due to changes in the economic conditions, and with reduced operational activity, there was low demand for industrial lubricants. Several factors, including a halt in manufacturing and construction, affected lubricant consumption by suspending operations.
- Regulatory Framework and Market Restraints: New developments in regulatory changes due to the pandemic, for instance, brought about compliance costs and workforce provisions. These restraints inhibited the productivity of various products and the expansion in markets, mainly because there were hassles of implementing new safety measures and policies within the organizations.
- Operational Challenges: Measures taken during the pandemic to enhance the employees’ health and safety raised operating costs within recommendations to the lubricant manufacturing companies. Adapting rigorous rules in manufacturing facilities reduced productivity and thus supplied delays and higher prices in addressing quantities booed to meet demand.
- Adaptive Strategies and Focus on Innovation: Due to COVID-19, businesses in the industrial lubricants industry embraced the use of inclined digital technologies and flexibility of supply chain operations. These strategies enabled firms to sustain their operations while maintaining their innovation endeavours and enhancing product creations to reflect the needs of their customers.
- Technological Advancements: The proliferation of higher-performance synthetic lubricants and the availability of better monitoring systems have also increased the size of the potential market. They enable the smooth operation of industrial machines and minimization of spare parts requirements, resulting in increased use of high-performance lubricants.
- Automation Push: The pandemic made automation in industries very relevant so that the dependence on human power would be minimal. This advanced the need for lubricant used in machining that operates on special and unique indicators and boosted the need for the industrial lubricant market.
In conclusion, the COVID-19 pandemic has had a mixed impact on the US Industrial Lubricants Market, with some challenges and opportunities arising from the pandemic.
List of the prominent players in the US Industrial Lubricants Market:
- ExxonMobil Corporation
- Chevron Corporation
- Royal Dutch Shell
- BP Lubricants USA Inc.
- TotalEnergies SE
- Valvoline Inc.
- Fuchs Lubricants Co.
- Phillips 66 Lubricants
- CITGO Petroleum Corporation
- Castrol Limited
- Lukoil Lubricants Company
- Petro-Canada Lubricants Inc.
- Amsoil Inc.
- Idemitsu Lubricants America
- Calumet Specialty Products Partners
- Lubrizol Corporation
- Quaker Houghton
- Klüber Lubrication
- Bel-Ray Company LLC
- Schaeffer Manufacturing Co.
- Others
The US Industrial Lubricants Market is segmented as follows:
By Application
- Metalworking Fluids
- Hydraulic Fluids
- Gear Oils
- Compressor Oils
- Greases
- Engine Oils
By Product Type
- Synthetic Lubricants
- Mineral-Based Lubricants
- Bio-Based Lubricants
By End User
- Manufacturing
- Automotive
- Construction
- Mining
- Power Generation
- Marine