Product Code: A17402
The global industrial oils market size was valued at $62.4 billion in 2021, and projected to reach $85.9 billion by 2031, with a CAGR of 3.3% from 2022 to 2031.
Industrial oils are used in industries related to pharmaceuticals and food related products, tobacco, and cosmetics. Rapid surge in industrialization in the developing countries, boosts the growth of the industrial oils market. Industrial manufacturing has a great demand for automation in their processes which is also expected to drive the growth of the industrial oils market during the forecast period. In addition, industrial oils provide lubrication to the various parts of the equipment used in the production and process of food products or other products.
The food & beverage industries have seen a major growth and demand for industrial oils in countries like China and India. Countries like Germany and the U.S. utilize industrial oils to larger extent when it comes to food processing. Industrial oils are used as lubricants as they help in reducing the friction between two parts that are closely connected to one another.
Industrial oils have great importance in the manufacturing and automobile industries. It also provides thermal stability by reducing the temperature of the surface on which it is applied. It is also used in the production of shampoos, soaps, and other products. The use of vegetable oil in the production of various food products is projected to boost the growth of the market. The industrial oils market is expected to grow in the Asia-Pacific region due to the large patch of land available for agriculture which fosters the growth in the production of biodiesel. Increased use of industrial oils in food & beverages industry and the cosmetic industry is anticipated to drive the growth of the market. However, the surge in demand for electric vehicles across the globe is expected to hamper the growth of the industrial oils market as most of the industrial oils are used as raw materials for the production of bio fuels.
The industrial oils market is segmented on the basis of source, type, end use and region. On the basis of source, the market is classified into soybean, corn, sunflower, cottonseed, rapeseed, palm, and others. On the basis of type, the market is categorized into grade 1 (light), grade 2 (medium) and grade 3 (heavy). On the basis of end use, it is divided into biofuel, paints and coatings, cosmetics and personal care, pharmaceuticals and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.
The major companies profiled in this report include Cargill, Archer Daniels Midland, Kratan Corporation, Exxon Mobil Corporation, Chevron USA Inc., Royal Dutch Shell Plc, Castrol Limited, China Petroleum & Chemical Corporation (Sinopec), Wilmar International, Soya Mills SA, Gemtek Products, AAK Kamani, Buhler Group, Bunge Limited, Fujian Qian Trading Co. Ltd., Malplast Industries Limited, Matole Ltd, and LLC PK "XimProm". Increase in the investment of the top players in the construction of new manufacturing facilities drives the demand for industrial oils which are used as lubricants in these industries. Furthermore, the presence of junk food culture in the U.S. drives the demand for food & beverage industries which have positive impact on the development of the market.
Impact of COVID-19 on Industrial Oils Market
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The shutdown of industrial manufacturing has led to decline in the demand for industrial oils in most of the countries across the world. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market. However, surge in the demand for personal care and pharmaceutical products during the pandemic outbreak due to increased awareness among the people have shown positive trend in the market growth.
The gradual surge in the infrastructure activities after the pandemic is expected to have positive impact on the industrial oils market, as paints & coatings are used in the construction sector. Increase in the demand for biodiesel as an alternative fuel for diesel engines due to its various advantages such as renewability, purity, and low exhaust pollution have created positive impact on the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial oils market analysis from 2021 to 2031 to identify the prevailing industrial oils market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial oils market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial oils market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
- Soybean
- Corn
- Sunflower
- Cottonseed
- Rapeseed
- Palm
- Others
By Type
- Grade I (Light)
- Grade II (Medium)
- Grade III (Heavy)
By End Use
- Pharmaceuticals
- Others
- Biofuel
- Paints and Coatings
- Cosmetics and Personal Care
By Region
- North America
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Rest Of LAMEA
- Key Market Players
- Cargill Incorporated
- Archer Daniels Midland
- Kratan Corporation
- Exxon Mobil Corporation
- Chevron USA Inc.
- Royal Dutch Shell Plc
- Castrol Limited
- China Petroleum & Chemical Corporation (Sinopec)
- Wilmar International
- Soya Mills SA
- Gemtek Products
- AAK Kamani
- Buhler Group
- Bunge Limited
- Fujian Qian Trading Co. Ltd.
- Malplast Industries Limited
- Matole Ltd
- LLC PK "XimProm"
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
- 3.7.Pricing Analysis
- 3.8.Value Chain Analysis
- 3.9.Key Regulation Analysis
CHAPTER 4: INDUSTRIAL OILS MARKET, BY SOURCE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Soybean
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 Corn
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
- 4.4 Sunflower
- 4.4.1 Key market trends, growth factors and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market analysis by country
- 4.5 Cottonseed
- 4.5.1 Key market trends, growth factors and opportunities
- 4.5.2 Market size and forecast, by region
- 4.5.3 Market analysis by country
- 4.6 Rapeseed
- 4.6.1 Key market trends, growth factors and opportunities
- 4.6.2 Market size and forecast, by region
- 4.6.3 Market analysis by country
- 4.7 Palm
- 4.7.1 Key market trends, growth factors and opportunities
- 4.7.2 Market size and forecast, by region
- 4.7.3 Market analysis by country
- 4.8 Others
- 4.8.1 Key market trends, growth factors and opportunities
- 4.8.2 Market size and forecast, by region
- 4.8.3 Market analysis by country
CHAPTER 5: INDUSTRIAL OILS MARKET, BY TYPE
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Grade I (Light)
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Grade II (Medium)
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Grade III (Heavy)
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
CHAPTER 6: INDUSTRIAL OILS MARKET, BY END USE
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Biofuel
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 Paints and Coatings
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
- 6.4 Cosmetics and Personal Care
- 6.4.1 Key market trends, growth factors and opportunities
- 6.4.2 Market size and forecast, by region
- 6.4.3 Market analysis by country
- 6.5 Pharmaceuticals
- 6.5.1 Key market trends, growth factors and opportunities
- 6.5.2 Market size and forecast, by region
- 6.5.3 Market analysis by country
- 6.6 Others
- 6.6.1 Key market trends, growth factors and opportunities
- 6.6.2 Market size and forecast, by region
- 6.6.3 Market analysis by country
CHAPTER 7: INDUSTRIAL OILS MARKET, BY REGION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 North America
- 7.2.1 Key trends and opportunities
- 7.2.2 North America Market size and forecast, by Source
- 7.2.3 North America Market size and forecast, by Type
- 7.2.4 North America Market size and forecast, by End Use
- 7.2.5 North America Market size and forecast, by country
- 7.2.5.1 U.S.
- 7.2.5.1.1 Market size and forecast, by Source
- 7.2.5.1.2 Market size and forecast, by Type
- 7.2.5.1.3 Market size and forecast, by End Use
- 7.2.5.2 Canada
- 7.2.5.2.1 Market size and forecast, by Source
- 7.2.5.2.2 Market size and forecast, by Type
- 7.2.5.2.3 Market size and forecast, by End Use
- 7.2.5.3 Mexico
- 7.2.5.3.1 Market size and forecast, by Source
- 7.2.5.3.2 Market size and forecast, by Type
- 7.2.5.3.3 Market size and forecast, by End Use
- 7.3 Europe
- 7.3.1 Key trends and opportunities
- 7.3.2 Europe Market size and forecast, by Source
- 7.3.3 Europe Market size and forecast, by Type
- 7.3.4 Europe Market size and forecast, by End Use
- 7.3.5 Europe Market size and forecast, by country
- 7.3.5.1 Germany
- 7.3.5.1.1 Market size and forecast, by Source
- 7.3.5.1.2 Market size and forecast, by Type
- 7.3.5.1.3 Market size and forecast, by End Use
- 7.3.5.2 France
- 7.3.5.2.1 Market size and forecast, by Source
- 7.3.5.2.2 Market size and forecast, by Type
- 7.3.5.2.3 Market size and forecast, by End Use
- 7.3.5.3 UK
- 7.3.5.3.1 Market size and forecast, by Source
- 7.3.5.3.2 Market size and forecast, by Type
- 7.3.5.3.3 Market size and forecast, by End Use
- 7.3.5.4 Spain
- 7.3.5.4.1 Market size and forecast, by Source
- 7.3.5.4.2 Market size and forecast, by Type
- 7.3.5.4.3 Market size and forecast, by End Use
- 7.3.5.5 Italy
- 7.3.5.5.1 Market size and forecast, by Source
- 7.3.5.5.2 Market size and forecast, by Type
- 7.3.5.5.3 Market size and forecast, by End Use
- 7.3.5.6 Rest of Europe
- 7.3.5.6.1 Market size and forecast, by Source
- 7.3.5.6.2 Market size and forecast, by Type
- 7.3.5.6.3 Market size and forecast, by End Use
- 7.4 Asia-Pacific
- 7.4.1 Key trends and opportunities
- 7.4.2 Asia-Pacific Market size and forecast, by Source
- 7.4.3 Asia-Pacific Market size and forecast, by Type
- 7.4.4 Asia-Pacific Market size and forecast, by End Use
- 7.4.5 Asia-Pacific Market size and forecast, by country
- 7.4.5.1 China
- 7.4.5.1.1 Market size and forecast, by Source
- 7.4.5.1.2 Market size and forecast, by Type
- 7.4.5.1.3 Market size and forecast, by End Use
- 7.4.5.2 Japan
- 7.4.5.2.1 Market size and forecast, by Source
- 7.4.5.2.2 Market size and forecast, by Type
- 7.4.5.2.3 Market size and forecast, by End Use
- 7.4.5.3 India
- 7.4.5.3.1 Market size and forecast, by Source
- 7.4.5.3.2 Market size and forecast, by Type
- 7.4.5.3.3 Market size and forecast, by End Use
- 7.4.5.4 South Korea
- 7.4.5.4.1 Market size and forecast, by Source
- 7.4.5.4.2 Market size and forecast, by Type
- 7.4.5.4.3 Market size and forecast, by End Use
- 7.4.5.5 Australia
- 7.4.5.5.1 Market size and forecast, by Source
- 7.4.5.5.2 Market size and forecast, by Type
- 7.4.5.5.3 Market size and forecast, by End Use
- 7.4.5.6 Rest of Asia-Pacific
- 7.4.5.6.1 Market size and forecast, by Source
- 7.4.5.6.2 Market size and forecast, by Type
- 7.4.5.6.3 Market size and forecast, by End Use
- 7.5 LAMEA
- 7.5.1 Key trends and opportunities
- 7.5.2 LAMEA Market size and forecast, by Source
- 7.5.3 LAMEA Market size and forecast, by Type
- 7.5.4 LAMEA Market size and forecast, by End Use
- 7.5.5 LAMEA Market size and forecast, by country
- 7.5.5.1 Brazil
- 7.5.5.1.1 Market size and forecast, by Source
- 7.5.5.1.2 Market size and forecast, by Type
- 7.5.5.1.3 Market size and forecast, by End Use
- 7.5.5.2 Argentina
- 7.5.5.2.1 Market size and forecast, by Source
- 7.5.5.2.2 Market size and forecast, by Type
- 7.5.5.2.3 Market size and forecast, by End Use
- 7.5.5.3 UAE
- 7.5.5.3.1 Market size and forecast, by Source
- 7.5.5.3.2 Market size and forecast, by Type
- 7.5.5.3.3 Market size and forecast, by End Use
- 7.5.5.4 Rest of LAMEA
- 7.5.5.4.1 Market size and forecast, by Source
- 7.5.5.4.2 Market size and forecast, by Type
- 7.5.5.4.3 Market size and forecast, by End Use
CHAPTER 8: COMPANY LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Key developments
CHAPTER 9: COMPANY PROFILES
- 9.1 Cargill Incorporated
- 9.1.1 Company overview
- 9.1.2 Company snapshot
- 9.1.3 Operating business segments
- 9.1.4 Product portfolio
- 9.1.5 Business performance
- 9.1.6 Key strategic moves and developments
- 9.2 Archer Daniels Midland
- 9.2.1 Company overview
- 9.2.2 Company snapshot
- 9.2.3 Operating business segments
- 9.2.4 Product portfolio
- 9.2.5 Business performance
- 9.2.6 Key strategic moves and developments
- 9.3 Kratan Corporation
- 9.3.1 Company overview
- 9.3.2 Company snapshot
- 9.3.3 Operating business segments
- 9.3.4 Product portfolio
- 9.3.5 Business performance
- 9.3.6 Key strategic moves and developments
- 9.4 Exxon Mobil Corporation
- 9.4.1 Company overview
- 9.4.2 Company snapshot
- 9.4.3 Operating business segments
- 9.4.4 Product portfolio
- 9.4.5 Business performance
- 9.4.6 Key strategic moves and developments
- 9.5 Chevron USA Inc.
- 9.5.1 Company overview
- 9.5.2 Company snapshot
- 9.5.3 Operating business segments
- 9.5.4 Product portfolio
- 9.5.5 Business performance
- 9.5.6 Key strategic moves and developments
- 9.6 Royal Dutch Shell Plc
- 9.6.1 Company overview
- 9.6.2 Company snapshot
- 9.6.3 Operating business segments
- 9.6.4 Product portfolio
- 9.6.5 Business performance
- 9.6.6 Key strategic moves and developments
- 9.7 Castrol Limited
- 9.7.1 Company overview
- 9.7.2 Company snapshot
- 9.7.3 Operating business segments
- 9.7.4 Product portfolio
- 9.7.5 Business performance
- 9.7.6 Key strategic moves and developments
- 9.8 China Petroleum & Chemical Corporation (Sinopec)
- 9.8.1 Company overview
- 9.8.2 Company snapshot
- 9.8.3 Operating business segments
- 9.8.4 Product portfolio
- 9.8.5 Business performance
- 9.8.6 Key strategic moves and developments
- 9.9 Wilmar International
- 9.9.1 Company overview
- 9.9.2 Company snapshot
- 9.9.3 Operating business segments
- 9.9.4 Product portfolio
- 9.9.5 Business performance
- 9.9.6 Key strategic moves and developments
- 9.10 Soya Mills SA
- 9.10.1 Company overview
- 9.10.2 Company snapshot
- 9.10.3 Operating business segments
- 9.10.4 Product portfolio
- 9.10.5 Business performance
- 9.10.6 Key strategic moves and developments
- 9.11 Gemtek Products
- 9.11.1 Company overview
- 9.11.2 Company snapshot
- 9.11.3 Operating business segments
- 9.11.4 Product portfolio
- 9.11.5 Business performance
- 9.11.6 Key strategic moves and developments
- 9.12 AAK Kamani
- 9.12.1 Company overview
- 9.12.2 Company snapshot
- 9.12.3 Operating business segments
- 9.12.4 Product portfolio
- 9.12.5 Business performance
- 9.12.6 Key strategic moves and developments
- 9.13 Buhler Group
- 9.13.1 Company overview
- 9.13.2 Company snapshot
- 9.13.3 Operating business segments
- 9.13.4 Product portfolio
- 9.13.5 Business performance
- 9.13.6 Key strategic moves and developments
- 9.14 Bunge Limited
- 9.14.1 Company overview
- 9.14.2 Company snapshot
- 9.14.3 Operating business segments
- 9.14.4 Product portfolio
- 9.14.5 Business performance
- 9.14.6 Key strategic moves and developments
- 9.15 Fujian Qian Trading Co. Ltd.
- 9.15.1 Company overview
- 9.15.2 Company snapshot
- 9.15.3 Operating business segments
- 9.15.4 Product portfolio
- 9.15.5 Business performance
- 9.15.6 Key strategic moves and developments
- 9.16 Malplast Industries Limited
- 9.16.1 Company overview
- 9.16.2 Company snapshot
- 9.16.3 Operating business segments
- 9.16.4 Product portfolio
- 9.16.5 Business performance
- 9.16.6 Key strategic moves and developments
- 9.17 Matole Ltd
- 9.17.1 Company overview
- 9.17.2 Company snapshot
- 9.17.3 Operating business segments
- 9.17.4 Product portfolio
- 9.17.5 Business performance
- 9.17.6 Key strategic moves and developments
- 9.18 LLC PK "XimProm"
- 9.18.1 Company overview
- 9.18.2 Company snapshot
- 9.18.3 Operating business segments
- 9.18.4 Product portfolio
- 9.18.5 Business performance
- 9.18.6 Key strategic moves and developments