The global cold rolling oils/ lubricants industry is projected to reach a value of USD 18.2 Billion in 2028, with demand growing at a standard CAGR of 5.6% from 2022 to 2028. In 2022, the target market is expected to reach an estimated USD 14.5 Billion. The global demand for cold rolling lubricants increased by a magnitude of 4.6% over the first half of 2021.
Cold rolling oils/ lubricants are in high demand from the automotive and transportation sectors. In addition, accelerated urbanization and industrialization boost the demand for the cold rolling oils/ lubricants market during the forecast period.
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 aluminum, 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.
Again, rising FDI in the industrial and construction sector, a surge in disposable income, and 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 prospect during 2022-2028.
Competitive Landscape
Key market players are focusing on investing in research and development activities to produce new products. These enterprises are adopting strategic mergers and acquisitions to strengthen their market position.
Key Companies Profiled
- 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.
More Insights into Cold Rolling Oils/ Lubricants Market Report
In its latest report, FMI offers an unbiased analysis of the global cold rolling oils/ lubricants market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2028. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (synthetic cold rolling oils/ lubricants, semi-synthetic cold rolling oils/ lubricants, mineral based cold rolling oils/ lubricants), material (steel, copper, aluminium, others (Titanium, etc.)), and region.
According to the latest FMI reports, based on segmentation, the synthetic cold rolling oils/ lubricants segment will dominate the international market space. This segment will continue to gain traction and demand during the projected period. This is so because of the rapid development of the manufacturing sector, especially in countries like Brazil, China, and India.
Based on region, the cold rolling oils/ lubricants market in China will display immense growth during 2022-2028. A major production and manufacturing center, China accounts for almost 44.7% of the global cold rolling oils/ lubricants market share. Swift evolution of the industrial sector coupled with heightened demand for steel and aluminum across different end-use industries including automotive and construction further aids the cold rolling oils/ lubricants market growth in this country. Apart from China, India, Brazil and the United States will also demonstrate considerable cold rolling oils/ lubricants market growth during the forecast period.
Key Segments of Cold Rolling Oils/Lubricants Industry Survey
By Product Type:
- Synthetic Cold Rolling Oils/Lubricants
- Semi-Synthetic Cold Rolling Oils/Lubricants
- Mineral Based Cold Rolling Oils/Lubricants
By Material:
- Steel
- Copper
- Aluminium
- Others (Titanium, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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