The demand for cold rolling oils and lubricants is expected to increase at a standard compound annual growth rate (CAGR) of 5.6% from 2022 to 2028, with the market expected to reach a value of US$ 18.2 billion. The target market is anticipated to grow to a projected value of US$ 14.5 billion in 2022. The automotive and transportation industries have a significant demand for cold rolling oils and lubricants. Moreover, during the projection period, increased industrialization and urbanization would fuel demand for cold rolling oils and lubricants.
The growing automotive, transportation and construction sector across the globe amplify the demand for cold rolling oils/ lubricants. An upsurge in demand for steel and aluminum sheets, among others, from automotive and construction sectors will, in turn, aid the growth of the target market during 2022-028. The automotive industry, particularly, has contributed to this spike in demand for steel and aluminium, and has extensively shaped the demand for the target market over the upcoming years.
Moreover, the increasing investments in the industrial sector, rise in production of metals like steel and aluminium, advancing research and development of synthetic lubricants, shifting requirements for different cold rolling processes, rapid industrialization in emerging economies, and growing technological advancements are certain factors that will likely boost the global sales of the cold rolling oils/ lubricants market during the next few years.
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Again, rising FDI in the industrial and construction sector, a surge in disposable income, swift urbanization are driving the demand for cold rolled products, which ultimately bolsters the sales of cold rolling oil.
“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.
Competitive Landscape
Some of the major players in the cold rolling oils/ lubricants market
- 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 Segments of Cold Rolling Oils/Lubricants Industry Survey
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
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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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