Indian Industrial Lubricant Industry Driven by Surge in Use of Bio Based Lubricants and Make in India Initiative: Ken Research

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“Rapid Industrialization and emergence of bio based lubricants has led to rising Domestic Consumption of Industrial Lubricants in India.”

Synthetic and Semi-synthetic Lubricants are majorly used in the industrial sector for the efficient functioning as well as smooth working of machines. Both the lube types are growing in popularity owing to their wide capability of improving industrial equipment’s productivity. These are widely available in liquid, semi-fluid and solid state and further possess various characteristics such as high Viscosity Index (VI), high level of thermal stability, low freezing point, high boiling point and others, thus collectively helping to reduce friction between surfaces of machinery parts and the rate of wear and tear. The base oil used to manufacture synthetic lubricants is highly refined and the additives added are of high quality thus, making synthetic lubricants the most preferred type of lubricant type.

Major end users such as construction, manufacturing and power generation utilize machineries that operate in extreme environments and have thermal and heat resistance properties. Synthetic lubricants are tailor made / customized lubricants which are designed as per specific customer requirements and hence conclude a more tractable option for industrial lubricant end users. Consumer awareness regarding usage of lubricants has improved which led to an increase in demand for HPPs (High Performance Products) i.e. synthetic and semi-synthetic lubricants which help the machine in performing under extreme stress conditions.

In terms of environmental impact, majority of lube manufacturers in India will shift their focus towards producing bio-based lubricants which are eco-friendly and made from natural alternatives. Emphasis on bio-based product development in India has changed the way in which companies are investing in lubricant R&D. Major oil companies such as Total, Shell, BP and others are actively investing in lube R&D activities.

Emergence of Bio Based Lubricants: Eco-friendly industrial lubricants in India can be used as an alternative to minimize the country’s environmental pollution for instance; bio-based lubes (organic lubricants) extracted from vegetable oils have shown superior quality lube properties (grade & viscosity) over the conventional mineral lubes with renewability and biodegradability as their differentiating factors. Several tons of lubricants are washed off into the water streams majorly due to leakages and inefficient disposal system, thereby leading to health related issues. Although bio-based lubricants in India comprise only of a small fraction of the total industrial lubricants volume, the growing awareness about environmental protection and awareness among formulators and end-users (large and MSMEs) are projected to increase demand for bio-based counterparts in the near future

Analysts at Ken Research in their latest publication “India Industrial Lubricants Market Outlook to 2023 – Expected Tailwinds from Construction, Automotive and Tire Manufacturing along with Surging Penetration from International Companies”  believe that developing industrial lubricants for construction and mining based applications, improving sales and promotion/advertising of lubricants, introducing facilities for refining of used oil, recycling and effective disposal of lubricants, focusing towards improving logistics infrastructure and by investing in R&D will aid the industrial lubricants market in India. The market is expected to register positive CAGR of 5.0% in terms of revenue and 4.6% in terms of sales volume during the forecasted period FY’2018-FY’2023E.

The report is useful for end users including plastic manufacturers, metal working companies, auto and auto component manufacturers, construction companies, textile, cement, mining, paper and pulp manufacturers, power generation companies, steel manufacturers and food & beverage companies.

Key Segments Covered:

By Origin

Mineral based Lubricants

Semi-Synthetic Lubricants

Synthetic Lubricants

By Type of Industrial Lubricants

Hydraulic Oil

Metal Working Fluids

Industrial Gear Oils

Turbine Oils

Compressor Oils

Industrial Greases

Others (Synthetic gear lubricants, synthetic EP gear lubricants, synthetic polyglycol gear lubricants, compound gear lubricants, and food grade gear lubricants)

By Industrial End Use

Construction, mining and off-highway equipment

Iron and non-iron production

General manufacturing, textile & chemicals

Engineering equipment

Automotive sector

Power generation

Cement

Others (plastic, paper and pulp and steel)

By Type of Distribution Channel

Direct Sales

Dealer Network

By Regional Sales

North

South

East

West

By Basis of Packaging

Barrels, Drums and Tanker load

Smaller Packs

Key Target Audience:

Plastic Manufacturers

Metal Working Companies

Auto and Auto Component Manufacturers

Construction Companies

Textile Companies

Cement Companies

Mining Companies

Paper and Pulp Manufacturers

Power Generation Companies

Steel Manufacturers

Food & Beverage Companies

Time Period Captured in the Report:

Historical Period – FY’2013-FY’2018

Forecast Period – FY’2018-FY2023E

(FY refers to fiscal year ending 31st March of every year; E refers to Estimated Numbers)

Companies Covered:

Indian Oil Corporation Limited

Hindustan Petroleum Corporation Limited

Bharat Petroleum Corporation Limited

Shell India

Gandhar Lubes

Exxon Mobil

Raj Lubricants

Gulf Petrochem (IPOL)

Apar Industries

Balmer and Lawrie

Castrol

Total (Company)

Savita Oil

Valvoline cumins

GS Caltex

Gulf Oil Lubricants

Veedol Lubricants (Tide Water Oil)

Others (Universal Halwasiya Group – UHG, Chemoleum, Fuch, Kluber, Starol and remaining local manufacturers)

Key Topics Covered in the Report

Volatility in Crude Oil Prices

Industrial Lubricants Market Segmentation

Semi Synthetic and Synthetic Lubricants

Type of Lubricants India

Hydraulic Oil in India

Industrial Greases in India

Industrial Gear Oil in India

Turbine Oil in India

Compressor Oil in India

Specialized Oils in India

Market Segmentation by Packaging

National Oil Companies in India

Market Share of Major Players

Synthetic Lubricants India

Plastic Injection-Molding Machine Lubricants

Metal Working Fluids India

Neat Cutting Oil India

Recycling of Lubricants in India

Industrial Lubricants Market Future

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-industrial-lubricants-market/177073-100.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91 9015378249

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