The global cold rolling oils/ lubricants industry is projected to reach a value of US$ 18.2 Billion in 2028, Demand is expected to expand at a 5.6% CAGR from 2022 to 2028. The target market is predicted to be worth $14.5 billion in 2022. Cold rolling oils/lubricants are highly valued in the automotive and transportation industries. Furthermore, during the forecast period, rising urbanization and industrialization increase demand for cold rolling oils/lubricants.
Cold rolling oils/lubricants are in high demand due to the global expansion of the automotive, transportation, and construction industries. Demand for steel and aluminum sheets, among other things, from the automotive and construction sectors, will drive the target market’s growth during 2022-028. The automotive industry, in particular, has contributed to the increase in steel and aluminum consumption and has considerably influenced demand for the target market in the coming years.
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Furthermore, rising industrial investments, increased metal production such as steel and aluminum, progress in synthetic lubricant research and development, shifting requirements for different cold rolling processes, rapid industrialization in emerging economies, and growing technological advancements are all factors that will likely boost global sales of cold rolling oils/lubricants in the coming years.
Again, increased FDI in the industrial and construction sectors, rising disposable income, and rapid urbanization are driving demand for cold rolled items, which eventually boosts cold rolling oil sales.
“Surging demand for aluminum sheet, steel sheet, and others from automotive and construction sector will likely augment the global growth of the cold rolling oils/ lubricants market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Fluctuating raw material prices and decreasing supply of crude oil may stymie the market growth.
- In 2022, the cold rolling oils/ lubricants market in North America will account for 13.1% of the overall market share.
- High industrialization in India and China will propel the Asia Pacific cold rolling oils/ lubricants market growth.
- Presently, China holds about 44.7% of the global cold rolling oils/ lubricants market share.
- The synthetic rolling lubricants will have a lucrative prospects during 2022-2028.
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Competitive Landscape
Some of the Major Players in the Cold Rolling Oils/ Lubricants Industry
- Croda International PLC
- Exxon Mobil Corporation
- Total S.A.
- BP plc.
- Indian Oil Corporation Ltd.
- Eastern Petroleum Pvt. Ltd.
- Hindustan Petroleum Corporation Limited
- Houghton International Inc.
- Jiangsu Gaoke Petrochemical Co. Ltd.
- ETNA Products Inc.
- Petroyag Lubricants
- Buhmwoo Group
- Ricci S.p.A.
Key market players are focusing investing in research and development activities to produce new products. These enterprises are adopting strategic mergers and acquisitions to strengthen their market position.
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Key Segmentation
Cold Rolling Oils Market by Product Type:
- Synthetic Cold Rolling Oils/Lubricants
- Semi-Synthetic Cold Rolling Oils/Lubricants
- Mineral Based Cold Rolling Oils/Lubricants
Cold Rolling Oils Market by Material:
- Steel
- Copper
- Aluminium
- Others (Titanium, etc.)
Cold Rolling Oils Market by Region:
- North America Cold Rolling Oils/Lubricants Market
- Latin America Cold Rolling Oils/Lubricants Market
- Europe Cold Rolling Oils/Lubricants Market
- East Asia Cold Rolling Oils/Lubricants Market
- South Asia & Pacific Cold Rolling Oils/Lubricants Market
- Middle East & Africa (MEA) Cold Rolling Oils/Lubricants Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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