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The lubricants market share in India is expected to increase by 809.93 thousand tons from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.58%.
This lubricants market in India research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the lubricants market in India segmentation by product (mineral oil-based lubricants, synthetic lubricants, and bio-based lubricants) and application (automotive oils, industrial oils, process oils, metalworking fluids, and greases). The India lubricants market report also offers information on several market vendors, including Bharat Petroleum Corp. Ltd., BP Plc, Exxon Mobil Corp., Gulf Oil Lubricants India Ltd., Indian Oil Corp. Ltd., Oil, and Natural Gas Corp. Ltd., Royal Dutch Shell Plc, Tide Water Oil Co. Ltd., TOTAL SE, and Valvoline Inc. among others.
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The increasing demand from end-user industries is notably driving the lubricants market growth in India, although factors such as fluctuations in crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lubricants industry in India. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Lubricants Market Driver in India
The increasing demand from end-user industries is one of the key drivers supporting the lubricants market growth in India. In the construction industry, lubricants are used in construction equipment owing to their anti-wear characteristics, resistance to corrosion, and others. Hydraulic fluids made from lubricants are used in earthmoving equipment such as crawler excavators, mini excavators, and others because of their excellent energy transmission capacity. Additionally, they are also used to increase the drain/re-greasing intervals of the equipment, lubrication efficiency, and the wear resistance of friction pairs, as well as to enhance the lifespan of the equipment. They are used as hydraulic fluids, compressor oils, and others in the steel industry for various applications. Equipment such as blast furnaces, continuous castings, and others require lubricants to reduce downtime and increase operational efficiency. Such factors will drive market growth during the forecast period.
Key Lubricants Market Trend in India
The rising adoption of synthetic lubricants is another factor supporting the lubricants market growth in India. Synthetic lubricants that offer better performance can be against corrosion & oxidation. They have resistive to a wide range of temperature from -60°C to a high temperature like 450 °C and more. It also increases the service life of lubricants by 4-8 times longer than petroleum lubricants. Significantly, they have better performance when compared to mineral lubricants. Using synthetic lubricants result in longer machinery life because less wear results in more production during the life of machine and tools. Thus, the adoption of synthetic lubricants will significantly increase lubricants' market share growth during the forecast period.
Key Lubricants Market Challenge in India
The fluctuations in crude oil prices is hindering the lubricants market growth in India. The increasing prices of crude oil in India have adversely affected the manufacturers and end-users. Fluctuations in crude oil prices are a major factor that causes volatility in raw material prices. Synthetic lubricants are primarily derived from hydrocarbons which is derived from petroleum. Synthetic esters, PAOs, phosphate esters, glycols, and other silicate esters obtained from petroleum are a few other major sources of construction lubricants. Volatility in raw material prices can hinder the growth of the lubricants market in India as it adversely affects the supply and profit margins of manufacturers.
This lubricants market in India analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the lubricants market in India as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lubricants market in India during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the India lubricants market encompasses successful business strategies deployed by the key vendors. The lubricants market in India is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The lubricants market in India forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the lubricants market in India, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the specialty chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The lubricants market share growth in India by the mineral oil-based lubricants segment will be significant during the forecast period. The high demand for mineral oil-based lubricants can be attributed to their low cost and easy accessibility. Mineral oil-based lubricants are derived from naturally occurring petroleum or crude oil by distillation, solvent extraction, and cracking. One of the main advantages of using mineral oil-based lubricants is that they are manufactured on a large scale during petroleum refining and, therefore, are cost much less than synthetic and bio-based lubricants. such factors are expected to drive the segment's growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the lubricants market size in India and actionable market insights on post COVID-19 impact on each segment.
Lubricants market for Mining and Quarry Applications - The market share is expected to increase by 261.92 thousand tons from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.69%.
Marine Lubricants market - The market share is expected to increase to USD 819.71 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.55%.
Lubricants market - The market share is expected to increase by USD 6.22 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.33%.
Lubricants Market Scope in India
Growth momentum & CAGR
Accelerate at a CAGR of 5.58%
Market growth 2022-2026
809.93 th tons
YoY growth (%)
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Bharat Petroleum Corp. Ltd., BP Plc, Exxon Mobil Corp., Gulf Oil Lubricants India Ltd., Indian Oil Corp. Ltd., Oil and Natural Gas Corp. Ltd., Royal Dutch Shell Plc, Tide Water Oil Co. Ltd., TOTAL SE, and Valvoline Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 5
Exhibit 04: Key Finding 6
Exhibit 05: Key Finding 7
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 06: Parent market
Exhibit 07: Market characteristics
2.2 Value chain analysis
Exhibit 08: Value chain analysis: Specialty chemicals
2.2.2 Inbound logistics
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Support activities
2.2.7 Industry innovations
3. Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 11: India - Market size and forecast 2021 - 2026 (thousand tons)
Exhibit 12: India market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 13: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 14: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 15: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 16: Threat of new entrants
4.5 Threat of substitutes
Exhibit 17: Threat of substitutes
4.6 Threat of rivalry
Exhibit 18: Threat of rivalry
4.7 Market condition
Exhibit 19: Market condition - Five forces 2021
5.Market Segmentation by Product
5.1 Market segments
Exhibit 20: Product - Market share 2021-2026 (%)
5.2 Comparison by Product
Exhibit 21: Comparison by Product
5.3 Mineral oil-based lubricants - Market size and forecast 2021-2026
Exhibit 22: Mineral oil-based lubricants - Market size and forecast 2021-2026 (thousand tons)
Exhibit 23: Mineral oil-based lubricants - Year-over-year growth 2021-2026 (%)
5.4 Synthetic lubricants - Market size and forecast 2021-2026
Exhibit 24: Synthetic lubricants - Market size and forecast 2021-2026 (thousand tons)
Exhibit 25: Synthetic lubricants - Year-over-year growth 2021-2026 (%)
5.5 Bio-based lubricants - Market size and forecast 2021-2026
Exhibit 26: Bio-based lubricants - Market size and forecast 2021-2026 (thousand tons)
Exhibit 27: Bio-based lubricants - Year-over-year growth 2021-2026 (%)
5.6 Market opportunity by Product
Exhibit 28: Market opportunity by Product
6 Market Segmentation by Application
6.1 Market segments
Exhibit 29: Application - Market share 2021-2026 (%)
6.2 Comparison by Application
Exhibit 30: Comparison by Application
6.3 Automotive oils - Market size and forecast 2021-2026
Exhibit 31: Automotive oils - Market size and forecast 2021-2026 (thousand tons)
Exhibit 32: Automotive oils - Year-over-year growth 2021-2026 (%)
6.4 Industrial oils - Market size and forecast 2021-2026
Exhibit 33: Industrial oils - Market size and forecast 2021-2026 (thousand tons)
Exhibit 34: Industrial oils - Year-over-year growth 2021-2026 (%)
6.5 Process oils - Market size and forecast 2021-2026
Exhibit 35: Process oils - Market size and forecast 2021-2026 (thousand tons)
Exhibit 36: Process oils - Year-over-year growth 2021-2026 (%)
6.6 Metalworking fluids - Market size and forecast 2021-2026
Exhibit 37: Metalworking fluids - Market size and forecast 2021-2026 (thousand tons)
Exhibit 38: Metalworking fluids - Year-over-year growth 2021-2026 (%)
6.7 Greases - Market size and forecast 2021-2026
Exhibit 39: Greases - Market size and forecast 2021-2026 (thousand tons)
Exhibit 40: Greases - Year-over-year growth 2021-2026 (%)
6.8 Market opportunity by Application
Exhibit 41: Market opportunity by Application
7. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 42: ?Customer landscape?
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing demand from end-user industries
8.1.2 Increasing need for reliable machinery and effective maintenance
8.1.3 Increased implementation of automatic lubrication systems
8.2 Market challenges
8.2.1 Fluctuations in crude oil prices
8.2.2 Environmental impact of lubricants
8.2.3 Increasing adoption of electric vehicles
Exhibit 43: Impact of drivers and challenges
8.3 Market trends
8.3.1 Rising adoption of synthetic lubricants
8.3.2 Rising need for technological upgrades
8.3.3 Growing number of industry-specific products
9. Vendor Landscape
Exhibit 44: Vendor landscape
9.2 Vendor Disruption
Exhibit 45: ?Landscape disruption?
Exhibit 46: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 47: Vendors covered
10.2 Market positioning of vendors
Exhibit 48: ?Market positioning of vendors?
10.3 Bharat Petroleum Corp. Ltd.
Exhibit 49: Bharat Petroleum Corp. Ltd. - Overview
Exhibit 50: Bharat Petroleum Corp. Ltd. - Business segments
Exhibit 51: Bharat Petroleum Corp. Ltd. - Key offerings
Exhibit 52: Bharat Petroleum Corp. Ltd. - Segment focus
10.4 BP Plc
Exhibit 53: BP Plc - Overview
Exhibit 54: BP Plc - Business segments
Exhibit 55: BP Plc - Key news
Exhibit 56: BP Plc - Key offerings
Exhibit 57: BP Plc - Segment focus
10.5 Exxon Mobil Corp.
Exhibit 58: Exxon Mobil Corp. - Overview
Exhibit 59: Exxon Mobil Corp. - Business segments
Exhibit 60: Exxon Mobil Corp. - Key news
Exhibit 61: Exxon Mobil Corp. - Key offerings
Exhibit 62: Exxon Mobil Corp. - Segment focus
10.6 Gulf Oil Lubricants India Ltd.
Exhibit 63: Gulf Oil Lubricants India Ltd. - Overview
Exhibit 64: Gulf Oil Lubricants India Ltd. - Business segments
Exhibit 65: Gulf Oil Lubricants India Ltd. - Key offerings
Exhibit 66: Gulf Oil Lubricants India Ltd. - Segment focus
10.7 Indian Oil Corp. Ltd.
Exhibit 67: Indian Oil Corp. Ltd. - Overview
Exhibit 68: Indian Oil Corp. Ltd. - Business segments
Exhibit 69: Indian Oil Corp. Ltd. - Key offerings
Exhibit 70: Indian Oil Corp. Ltd. - Segment focus
10.8 Oil and Natural Gas Corp. Ltd.
Exhibit 71: Oil and Natural Gas Corp. Ltd. - Overview
Exhibit 72: Oil and Natural Gas Corp. Ltd. - Business segments
Exhibit 73: Oil and Natural Gas Corp. Ltd. - Key offerings
Exhibit 74: Oil and Natural Gas Corp. Ltd. - Segment focus
10.9 Royal Dutch Shell Plc
Exhibit 75: Royal Dutch Shell Plc - Overview
Exhibit 76: Royal Dutch Shell Plc - Business segments
Exhibit 77: Royal Dutch Shell Plc - Key offerings
Exhibit 78: Royal Dutch Shell Plc - Segment focus
10.10 Tide Water Oil Co. Ltd.
Exhibit 79: Tide Water Oil Co. Ltd. - Overview
Exhibit 80: Tide Water Oil Co. Ltd. - Business segments
Exhibit 81: Tide Water Oil Co. Ltd. - Key offerings
Exhibit 82: Tide Water Oil Co. Ltd. - Segment focus
10.11 TOTAL SE
Exhibit 83: TOTAL SE - Overview
Exhibit 84: TOTAL SE - Business segments
Exhibit 85: TOTAL SE - Key news
Exhibit 86: TOTAL SE - Key offerings
Exhibit 87: TOTAL SE - Segment focus
10.12 Valvoline Inc.
Exhibit 88: Valvoline Inc. - Overview
Exhibit 89: Valvoline Inc. - Business segments
Exhibit 90: Valvoline Inc. - Key offerings
Exhibit 91: Valvoline Inc. - Segment focus
11.1 Scope of the report
11.1.1 ????Market definition
11.1.3 ????Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 92: ?Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 93: ?Research Methodology
Exhibit 94: ??Validation techniques employed for market sizing?
Exhibit 95: ??Information sources
11.4 List of abbreviations
Exhibit 96: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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