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Procurement

Industrial Lubricants: Global Markets

New York, Sept. 15, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Industrial Lubricants: Global Markets” – https://www.reportlinker.com/p05968459/?utm_source=GNW

Revenue forecasts for 2025 are given for each industrial lubricant type, form of material, application and region. Estimated values are derived from manufacturers’ total revenues.

The report also includes a discussion of the major players in the market.Further, it explains the major drivers and regional dynamics of the market for industrial lubricants and current trends within the industry.

The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global market for industrial lubricants.

This report covers the technological, economic and business considerations of the industrial lubricants industry with analyses and forecasts provided for global markets. Included in the report are descriptions of market forces relevant to the industrial lubricants industry and their areas of application.

Global markets are presented by base oil, product type and end-use industry of industrial lubricants, along with growth forecasts through 2025. Estimates on sales value are based on the price in the supply chain at which the industrial lubricants are procured by manufacturers.

Market-driving forces and industry structure are examined.International aspects are analyzed for all world regions and base oil of industrial lubricants.

Brief profiles of major global manufacturers are presented.

The presently developing COVID-19 pandemic has currently halted the progress of economies across the world. In addition to taking measures to lock down their respective countries to contain the spread of the coronavirus, especially in affected cities, various governments across the world are also taking the measures necessary to contain the economic slowdown.

The report considers the impact of COVID-19.In 2020, the growth rate of every industry across the world has been impacted by the pandemic, and thus the industrial lubricants market will also be indirectly affected.

The market is, however, expected to bounce back in 2021, due to the relief packages or disaster aid packages provided by various governments to boost their economies.

The report does not include separate market data for the very small end-use industries covered under the other categories, such as electronics, pulp and paper, and marine (deck manufacturing).

A negative economic outlook has been assumed in all the regions for 2020 due to COVID-19, but a later positive economic outlook has been assumed to continue in all the regions until 2025. The growing economies are assumed to attract key companies in the market and increase consumer spending.

Report Includes:
– 135 data tables and 58 additional tables
– An overview of the global market for industrial lubricants
– Estimation of the market size and analyses of global market trends, with data from 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
– Discussion of COVID-19 impact on industrial lubricant market
– Detailed analysis of the current market trends, market forecast, drivers, challenges, and opportunities affecting market growth and discussion of technological, regulatory, and competitive elements as well as economic trends that are affecting the future marketplace for industrial lubricants
– Market share analysis of the industrial lubricants based on type of base oil, product type, end-use industry, and region
– Company profiles of major players in the market, including Chevron Corp., Exxon Mobil Corp., Hindustan Petroleum Corp. Ltd., Phillips 66 and Valvoline Inc.

Summary:
An industrial lubricant is a product mainly derived from crude oil that reduces friction, heat and wear between mechanical components, thus prolonging the life of the components.The primary function of lubricants is to reduce contact among tools or finished components.

Industrial lubricants protect sludge and residual deposits from forming on mechanical parts. It is also used to transfer heat, transmit power, and prevent rust and corrosion.

Industrial lubricants are manufactured from base oils.The desired industrial lubricant properties are imparted by blending base oils with additives such as viscosity index improvers, dispersants and detergents.

Additives are petrochemicals refined and formulated to improve the functioning and lifespan of industrial lubricants. Industrial lubricants prevent corrosion, have excellent remissibility and extend the life of equipment.

Industrial lubricants are used in various applications in multiple industries, including construction, metal and mining, cement production, power generation, oil and gas, food processing, and textiles, among others.

The world has seen increased industrialization and globalization in recent years, resulting in a dramatic change in how operations work in sectors such as construction. With the development of newer and better equipment, there is an increasing need to enhance their quality and effectiveness.

The global demand for industrial lubricants has also grown.It is an emerging field of sophisticated technology that is steadily gaining ground in China and India, among other places.

Additionally, high demand from various sectors, such as construction, and metal and mining, has resulted in growth for the industrial lubricants sector.However, some trends continue to impact the growth of the industrial lubricants market, such as a mature market and stringent regulations in North America and Europe.

Another factor is the recent outbreak of the virus COVID-19.Considered to be a pandemic by the World Health Organization (WHO), COVID-19 has pushed the world’s countries to self-impose lockdowns in order to reduce its spread, and thus impacted various industries as well as the normal lives of people across the world.

It is predicted that the impact of the virus is going to be felt through the end of 2020, and so governments of various countries are finding alternative means to bring their operations back to normal by introducing rescue packages or disaster management bills to boost their economies.

According to the research, the market for industrial lubricants was valued at REDACTED in 2019.The market is likely to reach REDACTED by 2025, growing at a CAGR of REDACTED during the forecast period.

Growth in the market is primarily driven by massive industrialization, globalization and increased purchasing power. Nonetheless, factors such as high manufacturing costs of synthetic lubricants, end product prices and stringent regulations are restricting this industry.

The continued expansion of the biopharmaceutical sector, aligned with the escalating worldwide expansion of healthcare facilities to care for aging populations, will drive the use of industrial lubricants in the healthcare sector.
Read the full report: https://www.reportlinker.com/p05968459/?utm_source=GNW

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