Industrial Lubricants Market Size

Industrial Lubricants Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Industrial lubricants are a rapidly growing market, with a current value of $60.72 billion in 2024, expected to reach $85.0 billion by 2035. This growth is due to a CAGR of 3.1% from 2025 to 2035, which reflects the high demand for industrial lubricants in various industrial applications. The need to increase efficiency and the life of equipment drives manufacturers to invest in high-quality lubricants, which are essential for reducing friction and wear in machinery. This upward trend is due to the development of new lubricant formulations, the increase in automation in industrial processes, and the need to reduce the negative impact on the environment. Biodegradable and synthetic lubricants have become more popular, as they offer superior performance and are more sustainable. ExxonMobil, Shell, and Chevron are collaborating with each other and investing in research and development to produce next-generation lubricants that meet the changing needs of the industry and the needs of their customers. These efforts not only strengthen their position in the market, but also contribute to the growth of the industrial lubricants market.

Regional Market Size

Regional Deep Dive

The industrial lubricants market is characterized by diverse market dynamics in different regions, which are mainly driven by industrial growth, technological development and government regulations. In North America, the market is mainly driven by the development of the manufacturing industry and the focus on sustainable development. In Europe, the market is mainly driven by strict regulations and the development of bio-lubricants. The Asia-Pacific region is characterized by rapid urbanization and industrialization, which will increase the demand for lubricants in various industries. Middle East and Africa (MEA) is mainly driven by the oil and gas industry. Latin America is experiencing economic fluctuations and has gradually adopted advanced lubrication technology.

North America

• The electric car is a growing trend in the market, and ExxonMobil and Chevron are preparing to meet the unique requirements of EVs by developing new formulations with lower viscosity and higher thermal stability.
• The introduction of the Safer Choice program of the US Environmental Protection Agency (EPA) is pushing companies to develop eco-friendly lubricants. This is leading to an increase in the use of bio-based lubricants.
• In this way, the trend towards automation and Industry 4.0 is driving the demand for high-performance lubricants that are able to withstand extreme conditions.

Europe

• The Green Deal is a major influence on the industrial lubricant market and is encouraging manufacturers to invest in sustainable, biodegradable lubricants. Fuchs Petrolub AG is a pioneer in this transition.
• Nano-technological lubricants are being developed, which are proving to be both effective and efficient. They are being developed by research institutes and the industry in collaboration.
• The emergence of hybrid and electric vehicles in the automobile industry is changing the requirements for lubricants, and Total Energies has had to adapt its range of products to meet these new requirements.

Asia-Pacific

• Industrial lubricants are in high demand in countries such as China and India, where rapid industrialization has driven the demand for industrial lubricants, and local companies such as Sinopec and Bharat Petroleum have been able to diversify their product offerings to meet the needs of various industries.
• ‘Make in India’ and similar government initiatives are encouraging the introduction of advanced lubricant technology, which in turn will lead to a greater level of competition and innovation.
• Energy efficiency and the need to reduce energy consumption are making manufacturers develop high-performance lubricants which reduce energy consumption. Lubricant manufacturers like Castrol are investing in research and development.

MEA

• The oil and gas industry continues to be the main driver for the industrial lubricants market in the Middle East and Africa. With companies such as Saudi Aramco investing in advanced lubrication technology to increase their operational efficiency, the demand for industrial lubricants will also grow.
• The laws regulating the environment are pushing manufacturers to develop eco-friendly lubricants, while the Gulf Cooperation Council is promoting sustainable industrial practices.
• In this era of increased concern for renewable energy, the demand for lubricants is changing, and there is a trend towards a greater use of bio-lubricants and synthetic oils, to meet the new standards.

Latin America

• Latin America’s financial turmoil is making companies look for cost-effective lubricants, and domestic lubricant manufacturers such as Petrobras are responding by modifying their products to suit budgetary requirements.
• The growing automobile industry of the Middle East is putting increasing pressure on the market for high-performance lubricants. Companies are investing in research and development to meet the specific requirements of local markets.
• In the same way, government initiatives in the industrial growth area are promoting the use of advanced lubrication techniques, while public-private partnerships are encouraging innovation.

Did You Know?

“The lubricant market is expected to be influenced by a significant growth in the demand for bio-lubricants. By 2025, bio-lubricants are expected to account for more than 20 percent of the market.” — Market Research Future

Segmental Market Size

Industrial lubricants have the important function of increasing the efficiency and life of machinery. The industrial lubricants market is characterized by the fact that synthetic lubricants are growing. The main demand drivers are the increasing need for high-performance lubricants in the manufacturing process and the increasingly stringent regulatory requirements aimed at reducing the environmental impact. Further, technological developments in the field of formulation are leading to the development of more efficient and sustainable products, which in turn will increase the demand.

The synthetic lubricant is now a mature product, and the market penetration of ExxonMobil and Shell is very good. Their main application is in the automobile, manufacturing and energy industries, where the lubricant is used to reduce the friction and wear of the machine. In the long run, the market is expected to grow steadily, and the trend of sustainable development and the policy of government procurement of green products will become more and more obvious. Nano and bio-based lubricants will continue to be developed to meet the requirements of industrial production.

Future Outlook

From 2024 to 2035, the industrial lubricants market is expected to grow at a CAGR of 3.1%. This is due to the rising demand for efficient and sustainable lubrication solutions in various industries such as manufacturing, automobiles and energy. Industry efficiency and the life of machinery are two of the most important factors driving the lubricant market. As a result, advanced lubricants with a high performance and low wear index are expected to be widely used. Synthetic and bio-based lubricants are expected to account for about 30 percent of the market by 2035, driven by their superior performance and the benefits they bring to the environment.

The development of nano-lubricants and the integration of IoT into lubrication management systems are expected to propel market growth. These innovations will not only improve lubrication efficiency but also enable predictive maintenance to reduce unplanned downtime and operating costs. Also, stringent regulations and increasing emphasis on sustainability will accelerate the shift toward green lubricants. These trends, coupled with the increasing use of lubricants in electric vehicles and the growing share of renewable energy, will further shape the market landscape and create new opportunities for lubricant manufacturers. In short, the industrial lubricants market will be transformed by technological innovation and the drive for sustainable development.