Cold Rolling Oils/Lubricants Market

Cold Rolling Oils/Lubricants Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Cold Rolling Oils/Lubricants Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 12,341.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.1% and is expected to reach a valuation of US$ 20,294.8Mn by 2032 end.

The global need for cold rolling oils and lubricants is being boosted by the expansion of the automotive, transportation, and construction industries. The automotive and construction sectors will experience a rise in demand for steel and aluminum sheets, which will help the target market expand between 2023 and 2032.

The need for steel and aluminum has increased significantly recently, partly due to the automobile industry, which has also influenced the demand for the target market in the coming years.

Market Dynamic

INCREASED PRODUCTION FOR ALUMINUM AND STEEL TO SHOOT UP DEMAND IN THE MARKET

Over the past century, manufacturing methods have evolved, changing the landscape. Electronic systems have emerged as a more effective technology than conventional systems. To be precise, a new era for the manufacturing sector has begun with the addition of electronic technologies. Over the forecast period, 2023 to 2032, an increase in demand for steel and aluminum from the global automotive industry is anticipated to spur the growth of the cold rolling oils/lubricants market.

DEPLETING CRUDE OIL RESOURCES TO RESTRAIN MARKET GROWTH

Since most industrial lubricants and oils are made directly from crude oil or petroleum, changes in their supply and price hurt the cold rolling oil and lubricants market. Furthermore, the sector is constrained by the fact that crude oil has a finite supply. Suppliers are investing in the research and development of synthetic cold-rolling oils and lubricants to lessen their reliance on crude oil. Shipments of cold rolling oil and lubricants are further hampered by fluctuating steel and aluminum costs on both national and international markets.

FOCUS ON AFTERSALES SUPPORT TO BE A MAJOR MARKET TREND

Cold rolling lubricant suppliers are spending money on great customer service and after-sales care to retain their clients and keep them happy in the face of growing global competition.

For instance, Chevron introduced its Keep Clean Preferred Vendor Program in January 2022 to help its customers get the most out of their lubrication programs. They can maximize performance and reduce maintenance downtime, sometimes costing businesses millions.

Market Segments Covered in Report

By Product Type:

• Synthetic Cold Rolling Oils/Lubricants
• Semi-Synthetic Cold Rolling Oils/Lubricants
• Mineral Based Cold Rolling Oils/Lubricants

By Material:

• Steel
• Copper
• Aluminum
• Others (Titanium, etc.)

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

What type of cold rolling oils are expected to see higher demand?

Global urbanization and rapid industrialization have boosted the manufacturing sector, increasing demand for metals across various end-use industries. Mineral-based cold rolling oils and lubricants can benefit greatly from the industrial sector’s rapid development in countries like China, India, and Brazil.

Due to their high load-bearing capacity and low coefficient of friction, mineral-based cold rolling oils and lubricants are a preferred choice among major manufacturers worldwide, which is driving up demand for them.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 48.7%, it is predicted that Asia Pacific will become one of the quickly expanding regions and will continue to be one of the most profitable throughout the evaluation. According to estimates, China will dominate the regional market due to strong demand from numerous end-use industries.
• The United States has shown to be a successful market for both consumers and businesses. The U.S. population’s high spending potential makes it a desirable industrial market. Sales of cold rolling oils and lubricants are anticipated to increase in the United States due to the presence of major hard rolling oil producers and a rapidly developing metal processing sector.

Competition Analysis

To keep up with the changing demands of the market, cold rolling oil and lubricant manufacturers are investing in research and development of new products. Cold rolling oil suppliers are concentrating on growing their global footprint through several mergers and acquisitions.

The key developments in the Global Cold Rolling Oils/Lubricants Market:

• In January 2022, Hopkins Manufacturing Corporation announced the acquisition of Lumax LLC to expand its range of fluid management products. The North Carolina-based business Lumax provides a variety of lubrication equipment, including pumps, oil measurers, funnels, and more. Through this acquisition, Hopkins has increased the range of products it offers to both current and potential clients.

A list of some of the key suppliers present in the market are:

• 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.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.