How Industrial Lubricants Market Is
Positioned in India?
The
Industrial
Lubricants Market in India has reached its maturity stage, therefore
meeting demand expectations of every end user industry (construction and
mining, metal production, power generation, general manufacturing, food
processing, pharmaceuticals and cosmetics) majorly by importing base oil from
foreign countries and domestically producing lubricants within India. The
market has been growing majorly due to rising usage of hydraulic oil,
industrial gear oil and industrial greases in major end-user applications. Over
the review period, India industrial lubricants market observed a healthy growth
both in terms of revenues as well as consumption volume. In the FY’2013, the
market generated revenues worth USD ~ million alongside a sales volume of ~ million
litres.
Significance
of smooth working of machineries coupled with the prevention of equipment
failure owing to lack of lubricity and excess friction are some of the driving
forces for industrial lubricants growth. Rising concerns from major industries
regarding the maintenance of machineries in order to provide a better quality
output has escalated the demand for synthetic and semi-synthetic lubricants in
the country. After facing an economic slowdown during the period FY’2016-2017
owing to temporary disruptions caused by demonetization and GST implementation;
the market recovered in FY’2018 with uniform cash flows, easy taxation as well
as further growth in India’s manufacturing industry. India industrial market
revenues were evaluated at USD ~ million whereas, the sales volume rose to ~
million litres in the FY’2018.
India Industrial Lubricants Market
Segmentation
By Origin (Mineral, Semi-Synthetic and
Synthetic Lubricants)
Mineral
oil based lubricants were witnessed to dominate India industrial lubes market
during FY’2018 with a revenue share of ~%, thus evaluated at USD ~ million and
a volume share of ~%, contributing ~ million litres. These types of lubricants
have been gaining traction in India majorly due to its economical price over
semi-synthetic and synthetic types which are costlier as they require highly
refined base oil and high quality additives that add to cost of production of
these lubricants. The remaining revenue share ~% and volume share of ~% was
collectively captured by synthetic and semi-synthetic lubricants in India
industrial lubricant market during FY’2018 which is slowly gaining traction in
the country.
By Type of Industrial Lubricants
(Hydraulic Oil, Metal Working Fluids, Industrial Gear Oils, Turbine Oils,
Compressor Oils, Industrial Greases and Others)
Hydraulic
oils established itself as market leader in the India industrial lubricants
market along with volume share of ~% in the FY’2018. Greater index of
viscosity, higher bulk modulus bulk modulus, hydrolytic stability, resistance
to wear and demulsification are some of the characteristics which are evaluated
while choosing suitable hydraulic oil lubes. The remaining volume shares of ~%,
~%, ~%, ~%, ~% and ~% were captured by other lubricant types including metal
working fluids, industrial gear oils, turbine oils, compressor oils, industrial
greases and others respectively in FY’2018.
By Industrial End Use (Construction,
mining and off-highway equipment; iron and non-iron production; general
manufacturing, textile and chemicals; engineering equipment, automotive sector,
power generation, cement and others)
The
usage of industrial lubricants in India was observed to be high in
construction, mining and off-highway equipment sector with a volume share of ~%
of total sales volume of industrial lubricants in India during FY’2018. As
India’s construction and mining sector are catching up fast with its global
counter-parts in terms of technological advancements, the demand for hydraulic
oil has shifted from not just being volume driven but more of value based. The
remaining volume share of ~% were collectively captured by industrial end users
such as iron and non-iron production, general manufacturing, textile and
chemicals; engineering equipment, automotive sector, power generation, cement
and others respectively during FY’2018.
By Type of Distribution Channel
(Direct Sales and Dealer Network)
Direct
sales were majorly used by PSU OMCs and international private players in India.
The segment dominated with a massive volume share of ~% of the total sales
volume of industrial lubes in India in the FY’2018. Companies prefer selling
lubricants directly to customers than via dealers as payments are highly
irregular from dealer network. The remaining ~% volume share in India was
grabbed by the dealer network in FY’2018.
By Regional Sales (North, South, East
and West)
The
northern and southern regions in India were witnessed to dominate the country’s
industrial lubes market with a collective volume share of ~% in FY’2018. The
remaining ~% volume share in India industrial lubricants market was captured by
western and eastern states during FY’2018.
By Basis of Packaging (Barrels, Drums
and Tanker load; and Smaller Packs)
Barrels,
drums and tanker load were witnessed to dominate the lube packaging in India
industrial lubricants market with a massive volume share of ~% in the FY’2018.
They have a holding capacity of ~ or ~ litres. Smaller packs with a holding
capacity of ~ or ~ litres captured the remaining ~% volume share in India
industrial lubricants market in the FY’2018.
Key Segments Covered:
By Origin
Mineral
based Lubricants
Semi-Synthetic
Lubricants
Synthetic
Lubricants
By Type of Industrial Lubricants
Hydraulic
Oil
Metal
Working Fluids
Industrial
Gear Oils
Turbine
Oils
Compressor
Oils
Industrial
Greases
Others
(Synthetic gear lubricants, synthetic EP gear lubricants, synthetic polyglycol
gear lubricants, compound gear lubricants, and food grade gear lubricants)
By Industrial End Use
Construction,
mining and off-highway equipment
Iron
and non-iron production
General
manufacturing, textile & chemicals
Engineering
equipment
Automotive
sector
Power
generation
Cement
Others
(plastic, paper and pulp and steel)
By Type of Distribution Channel
Direct
Sales
Dealer
Network
By Regional Sales
North
South
East
West
By Basis of Packaging
Barrels,
Drums and Tanker load
Smaller
Packs
Key Target Audience:
Plastic
Manufacturers
Metal
Working Companies
Auto
and Auto Component Manufacturers
Construction
Companies
Textile
Companies
Cement
Companies
Mining
Companies
Paper
and Pulp Manufacturers
Power
Generation Companies
Steel
Manufacturers
Food
& Beverage Companies
Time Period Captured in the Report:
Historical Period – FY’2013-FY’2018
Forecast Period – FY’2018-FY2023E
(FY
refers to fiscal year ending 31st March of every year; E refers to Estimated
Numbers)
Companies Covered:
Indian
Oil Corporation Limited
Hindustan
Petroleum Corporation Limited
Bharat
Petroleum Corporation Limited
Shell
India
Gandhar
Lubes
Exxon
Mobil
Raj
Lubricants
Gulf
Petrochem (IPOL)
Apar
Industries
Balmer
and Lawrie
Castrol
Total
(Company)
Savita
Oil
Valvoline
cumins
GS
Caltex
Gulf
Oil Lubricants
Veedol
Lubricants (Tide Water Oil)
Others
(Universal Halwasiya Group – UHG, Chemoleum, Fuch, Kluber, Starol and remaining
local manufacturers)
For more information on the research
report, refer to below link:
Related Reports
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91
9015378249
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