Other End Use Industries

By Region:

 North America

 Latin America

 Europe

 Asia Pacific

 Middle East and Africa

More Insights into the Industrial Lubricants Market

According to FMI, demand for industrial lubricants in North America possesses a 19.2% share in the global market during the forecast period, due to a surge in the expansion of end-use industries such as construction, metal, mining, and the subsequent use of lubricants in these sectors.

North America is also anticipating value creation opportunities for industrial lubricant manufacturers, owing to expanding oil & gas industry in the region. The U.S. alone accounts for about 9,000 independent oil and gas power plants. Demand for industrial lubricants is increasing in drilling and exploration activities in the regional oil & gas industry.

Europe is predicted to dominate the By possessing around 23.1% of the total market share owing to the increase in industrialization in the region. In addition to that, various opportunities across several industries such as chemicals, food and beverages, mining and metals, automotive and transportation, power generation, oil and gas, and others will give tailwinds to growth in Europe.

The industrial lubricants market in the Asia Pacific is anticipated to expand at a surging rate throughout the forecast period. Growth in the market is attributed to the increasing demand in the base oil movement, rapid industrialization & urbanization, rising population, and high growth in major industries, such as textiles, chemicals, food processing, and metalworking in the Asia Pacific.

The Asia Pacific is estimated to grow in demand for industrial lubricants in several end-use industries, especially automotive and transportation. India, China, and Japan are the prominent countries in terms of the consumption and production of industrial lubricants in the Asia Pacific.

Owing to the rising population in the region, accompanied by a surge in spending on construction in emerging economies such as China, India,