Industrial Lubricants help reduce friction between surfaces in mutual contact, reducing the heat generated when the surfaces move. According to BlueQuark Research & Consulting, the global Industrial Lubricants market is expected to witness significant growth during the forecast period. Factors such as the growing demand for low viscosity fluids in the automotive industry drive the Industrial Lubricants market. The increasing demand for industrial applications has led to the smooth working of machinery, thus increasing the need for grease in industrial applications. Furthermore, the growing urbanization has led to a surge in construction activities, which is further expected to increase the demand for industrial lubricants during the forecasted period. The increasing development of bio-lubricants is likely to act as an opportunity during the forecasted years. The surging market for Industrial Lubricants in various end-user industries like the Marine, Power generation, textiles, automotive, and petroleum industries is expected to increase demand. However, However, the decline in automotive sales and production halt in industries due to COVID-19 is expected to restrain the global industrial lubricants market.

Industrial Lubricants comprise various categories, ranging from air compressor oils, gear oils, hydraulic oils to turbine oils, rock drill oils, and low-toxicity oils. Such a large variety of industrial lubricants have various features and benefits. These include high viscosity, anti-foam, thermal stability, anti-wear, high load-carrying ability, and many others. Due to these features and benefits, industrial lubricants can prevent rust, combat acid hydrolysis, adhere to metal, corroded and frozen parts, and meet or exceed Original Equipment Manufacturer (OEM) requirements for different types of machinery.

The Construction Industry is the most dominant consumer of Industrial Lubricants globally and is expected to drive the future market. Due to a faster urbanization rate, construction activities have been surging ever since, raising the demand for industrial lubricants. Lubricants used in the construction industry reduce friction between moving surfaces or parts to improve the machines' efficiency in the construction industry. Industrial Lubricants are primarily used in various construction equipment such as dump trucks, draglines, bulldozers, scrapers & shovels, and other heavy equipment. Heavy equipment lubricants find their applications in several industries such as construction, mining, and agriculture. Due to the increasing popularity of hydraulic machines and equipment, the demand for hydraulic oil lubricants has surged. Hydraulic oil lubricates components, dissipates heat, delivers power, and carries the contaminates. To perform these functions, hydraulic oils contain particular additives to enhance durability to stand up to the pressure, extreme temperatures, and other conditions to which they are subjected. In the construction industry, lubricants prevent premature failure and decline in construction equipment performance, which is subjected to tremendously harsh operating conditions that include heat, dirt, and moisture. Lubricants perform several functions to safeguard construction equipment from bearing failures, lower resistance of diesel fuel to water, rusting of cables, the short lifespan of engine oil, ropes, and draglines. This increasing demand in the construction industry is expected to propel the demand for Industrial Lubricants during the forecasted years.

The Asia Pacific region is poised to be the largest consumer of Industrial Lubricants in the forecasted year. The booming growth is attributed to the development of the end-user industries, such as construction, mining, automotive, and others. Factors like the growing population and rapid urbanization in the region have made the demand for building and construction increase Industrial Lubricants. Thus, the construction of these manufacturing units also drives the Building & Construction market, consequently becoming a driving factor for the Industrial Lubricant market. The equipment used in mining activities is heavy-duty and operates under high pressure and temperature. So, components, such as bearings, bushes, pins, ropes, and gears, are likely to be subjected to friction, wear, and corrosion in mining equipment. Consistent lubrication of the equipment is required for constant and efficient mining activity. Some of the generally used lubricants in the mining industry include heavy-duty diesel engine oils, gear and transmission oils, and hydraulic fluids. Due to the easy availability of low-wage laborers in South Asian Countries, most manufacturers have their hubs set up in the region. Keeping its status as the world's workshop, China is the largest consumer of Industrial Lubricants, primarily attributed to China's growth rate, which has been impressive in the last decades, making China a leader in Industrial Lubricants production and demand. Lubricants are majorly used as gearbox & transmissions in passenger cars, diesel engine oils, commercial vehicles & motorcycle segments of the automotive sector. Increasing automobile sales are expected to augment the global industry growth over the forecast period. Marine lubricants are widely used in high- and medium-speed engine oils and slow-speed marine engines. The product helps improve the engine life and protects the components at high temperatures. Some of these products provides additive technology to provide protection against crankcases, camshaft areas, under-crowns, and ring belts. Furthermore, lubricants are worn in slow-speed cylinders as they offer high-performance lubrication, raised protection from mechanical wear, and help mitigate cold corrosion. Aerospace lubricants are used to provide reliable, long-lasting lubrication for critical components to operate efficiently in high vacuum and extreme temperatures. They undergo regular scrutiny with surging regulatory intervention and specific military standards. Increasing air passenger traffic coupled with an important rise in defense budgets across the globe are anticipated to remain the critical fueling factors for segment growth over the forecast period. Further, China has the most prominent automotive industry and is expected to consolidate its prime Industrial Lubricants market. With the rapid industrialization in the region, the demand for heavy-duty vehicles for commercial purposes is also increasing. Thus all the factors have strengthened the Asia Pacific region in market growth.

Some of the industry's major players are Royal Dutch Shell plc, Exxon Mobil Corporation, BP plc, Chevron Corporation, TotalEnergies SE, China Petroleum & Chemical Corporation, PetroChina Company Limited, among others.

On 22nd January 2021, Shell's United States business and Whitmore Manufacturing LLC announced a joint venture to provide industrial services and products to the North American rail and mining sectors. Shell said that the joint venture would assist in the business-to-business lubricants markets.

Global Industrial ma Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Industrial Lubricants market by segmenting based on Oil Type (Synthetic Oil, Mineral Oil, Bio-Based Oil), Product Type (Hydraulic Fluid, Gear Oil, Grease, Turbine oil, Others), End-User (Construction, Metal& Mining, Automotive, Oil and Gas, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers emerging market trends, developments, opportunities, and challenges in the industry. The report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.