Demand for cold rolling oils and lubricants is predicted to rise at a CAGR of 5.6% and end up with an estimated market valuation of USD 18.2 Billion by 2028. Cold rolling lubricant sales in 2022 are set to rake in revenue worth USD 14.5 Billion.
| Attribute | Details |
|---|---|
| Cold Rolling Oils/Lubricants Market Size (2022) | USD 14.5 billion |
| Estimated Market Value (2028) | USD 18.2 billion |
| Forecasted Growth Rate (2022 to 2028) | 5.6% CAGR |
| Country with Highest Market Share | China 44.7% |
Lubrication plays a crucial role in the cold rolling process and other industrial processes as well. Cold-rolled steel and aluminium have seen exponential increase in demand, especially from the automotive and transportation sectors.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.6% |
| H1,2022 Projected (P) | 5.0% |
| H1,2022 Outlook (O) | 5.2% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 60 ↑ |
FMI presents a half-yearly comparison and insightful analysis of cold rolling lubricants market growth rate. The market has been primarily influenced by the manufacturing sector growth outlook, product and technological development and innovations, crude oil demand and supply and other factors. Key players are investing in acquisitions, capacity expansions, strengthening of the distribution network to enhance their global presence.
The global demand for cold rolling lubricants increased by a magnitude of 4.6% over the first half of 2021. The market is further estimated to witness a growth rate of about 5.2% during the first half of 2022 increase in the growth by 60 bps points. Growing demand for aluminium sheet, steel sheet, and others from automotive and construction sector are expected to remain key growth drivers for the market.
Current estimation of market growth in H1 2022 as compare to projected H1 2022 reflects a gain in 20 bps owing to substantial demand outlook for the lubricants in the processing of metals and steel.
Moreover, increasing FDI in the industrial and construction sector, increasing individual’s disposable income, urbanization are propelling the demand for cold rolled products, which is indirectly enhancing the sales of cold rolling oil.
However, the market is been attributed by certain challenges including fluctuating raw materials prices, decrease in the supply of crude oil, stringent government regulations, increasing geopolitical tensions, and others are impacting the growth of the market to a certain extent.
Urbanization and industrialization have penetrated countries across the globe and this has fostered high demand for industrial lubrication. Demand for cold rolling lubricants saw evolution at a CAGR of 4.8% from 2012 to 2021 with the market seeing a drop in sales in 2020 in the wake of the COVID-19 pandemic.
The automotive industry has contributed to increase in demand for steel and aluminium, and this has largely shaped the demand for cold rolling oils and lubricants, this trend is expected to be prominent over the forecast period as well.
Rising investments in the industrial sector, increase in production of metals like steel and aluminium, increasing research and development of synthetic lubricants, changing requirements from different cold rolling processes, increasing industrialization in emerging economies, and rising technological advancements are some of the major factors that are anticipated to influence cold rolling oil and lubricant sales through 2028.
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Focus on Aftersales Support to Be Major Market Trend
With increasing competition across the world, cold rolling lubricant vendors are investing in providing excellent customer support and aftersales services to retain their customers and keep them satisfied.
For instance, Chevron in January 2022, launched a Keep Clean Preferred Vendor Program that is aimed at providing Chevron’s customers with aid to make most of their lubrication programs. This will help them to optimize performance and minimize maintenance downtime that costs companies fortunes at times.
Depleting Crude Oil Resources to Restrain Market Growth
Most industrial lubricants and oils are directly derived from crude oil or petroleum and fluctuations in supply and pricing of the same harm the cold rolling oils/lubricants market. Moreover, the finite nature of crude oil is also a constraining factor for the industry. Cold rolling oil suppliers are investing in the research and development of synthetic cold rolling oils and lubricants to reduce their dependence on crude oil.
Fluctuating prices of steel and aluminum in international and local markets also act as a restraining factor for cold rolling oil and lubricant shipments.
Shipments of cold rolling oils and lubricants are projected to progress at a CAGR of 5.6% over the forecast period.
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This research details the global cold rolling oils/lubricants industry landscape in regions like North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
The North American cold rolling oils/lubricants market holds a market share of 13.1% in 2022. Increasing industrialization and rapidly progressing manufacturing sector are expected to favour the consumption of cold rolling oils and lubricants in this region.
Increasing industrial activity across Europe is expected to majorly influence the demand for cold rolling oils in this region. However, fluctuations in the pricing of metals due to changing economic climate of the world is expected to negatively impact cold rolling lubricant sales in this region. The demand however is expected to see an upward trend despite this restraining factor.
The market for cold rolling oils/lubricants in South Asia and East Asia is expected to have a bright outlook. This can be attributed to high industrialization in economies like China and India. Low labour costs, government subsidies, and low production costs are majorly responsible for propelling cold rolling oil and lubricant shipments in these regions.
Demand for cold rolling oils in Latin America currently accounts for 4.2% of the global landscape. Increasing industrialization in countries like Brazil is expected to spearhead the growth in this region.
The cold rolling oils/lubricants market in the MEA region holds the lowest market share of 2.7% at present, and is anticipated to rise at a slow pace through 2028. Slow industrialization and underdeveloped economic infrastructure hamper the market potential in this region.
Presence of Major Cold Rolling Oil Suppliers to Drive Market Potential in the USA
The USA has proved to be a lucrative market for consumers and companies alike. High spending potential of the USA population makes it an attractive industrial market. Presence of major cold rolling oil manufacturers and rapidly evolving metal processing industry are expected to drive sales of cold rolling oils and lubricants in the USA
Aluminium and steel consumption is expected to see a major upward trend in the coming years. Majority of this demand is expected to be from automotive and transportation companies.
“Established Industrial Infrastructure Propelling Cold Rolling Lubricant Sales”
China is a major manufacturing and production hub with an established industrial infrastructure. Rapid development of the industrial sector in China is majorly expected to favor cold rolling oil and lubricant consumption over the coming years.
High demand for steel and aluminum in end-use industries like automotive and construction is expected to further establish demand for cold rolling oils and lubricants in China. The cold rolling oils/lubricants market in China accounts for 44.7% of the global market share and is expected to maintain its dominant stance throughout the forecast period through 2028.
Synthetic Rolling Lubricants to Have Bright Outlook
Rapid industrialization and urbanization across the world have given impetus to the manufacturing sector which has subsequently increased the demand for metals in multiple end-use industries. With economies like China, India, and Brazil seeing rapid developments in the manufacturing sector, these are expected to be very lucrative for synthetic rolling lubricants and oils.
Synthetic rolling oils have a high load-bearing capacity and low coefficient of friction which is making them a popular choice among the key manufacturers across the world and hence propelling their demand.
Cold rolling oil/lubricant manufacturers are investing in the research & development of new products to meet the changing demand of the industry. Cold rolling oil suppliers are focusing on enlarging their footprint across the globe through various acquisitions and mergers.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2012 to 2021 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA) |
| Key Counties Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, India, Indonesia, Malaysia, Singapore, Australia, New Zealand, Turkey, South Africa, and GCC Countries |
| Key Market Segments Covered | Product Type, Material Type, Region |
| 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. |
| Pricing | Available upon Request |
The China cold rolling oils market holds a dominant market share of 44.7% in 2022.
In this cold rolling oils market survey, key players such as Croda International PLC, Exxon Mobil Corporation, Total S.A., BP plc., Indian Oil Corporation Ltd., Eastern Petroleum Pvt. Ltd., and Hindustan Petroleum Corporation Limited are profiled in detail.
In 2022, the global cold rolling lubricants market will stand at a net worth of USD 14.5 Billion.
Cold rolling oils predicted to rake in sales revenue worth USD 18.2 Billion by 2028.
As per detailed industry analysis, the global market is estimated to expand at a CAGR of 5.6% from 2022 to 2028.
1. Executive Summary 2. Market Introduction 3. Market Background 4. Global Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 5. Global Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Product Type 5.1. Synthetic 5.2. Semi to Synthetic 5.3. Mineral Based 5.4. Market Attractiveness Analysis By Product Type 6. Global Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Material Type 6.1. Steel 6.2. Copper 6.3. Aluminum 6.4. Others (Titanium, etc.) 6.5. Market Attractiveness Analysis by Material Type 7. Global Cold Rolling Oils/Lubricants Market Analysis and Forecast, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South East Asia and Pacific 7.6. China 7.7. India 7.8. Japan 7.9. Middle East & Africa 8. North America Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 9. Latin America Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 10. Western Europe Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 11. Eastern Europe Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 12. South East Asia and Pacific Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 13. China Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 14. India Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 15. Japan Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 16. Middle East & Africa Cold Rolling Oils/Lubricants Market Analysis 2013 to 2021 and Forecast 2022 to 2028 17. Competition Landscape 17.1. Croda International PLC 17.2. Exxon Mobil Corporation 17.3. Total S.A. 17.4. BP plc. 17.5. Indian Oil Corporation Ltd 17.6. Eastern Petroleum Pvt. Ltd. 17.7. Hindustan Petroleum Corporation Limited 17.8. Houghton International Inc. 17.9. Jiangsu Gaoke Petrochemical Co., Ltd. 17.10. ETNA Products, Inc. 17.11. Petroyag Lubricants 17.12. Buhmwoo Group 17.13. Ricci S.p.A. 18. Assumptions & Acronyms Used 19. Research Methodology
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Cold Rolling Oils/Lubricants Market
