Industrial Oils Market Report and Forecast 2025-2034

Published Aug 12, 2025

Length 163 Pages

SKU # EMAR20435813

Description

The global industrial oils market size reached around USD 69.37 Billion in 2024. The market is projected to grow at a CAGR of 5.50% between 2025 and 2034 to reach nearly USD 118.49 Billion by 2034.

The industrial oils market is expected to be driven by the rising industrial sector in the Asia Pacific region. The market in the Asia Pacific is being driven by the thriving biodiesel, chemical, and cosmetics industries in the emerging economies in the regions like India and China. In the forecast period, countries like the United States, India, and China are expected to grow at the highest CAGR.

Properties and Applications

Industrial oils are utilised in homes and industries for the lubrication of machines and instruments.

Based on product type, the market for industrial oils can be divided into:

Turbine Oil
Refrigeration Oil
Compressor Oil
Electrical Oil
Heat Transfer Oil

The industrial oils market can be broadly categorised based on its end-use segments into:

Power Generation
Automotive and Other Transportation
Heavy Equipment
Food and Beverage
Metallurgy and Metal Working
Chemical Manufacturing
Other

The EMR report looks into the regional industrial oils markets like

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market Analysis

The industrial oils market is being driven by the growing biodiesel industry, especially in Indonesia and Malaysia. The rapid industrialisation taking place in the emerging economies of Latin America and the Asia Pacific is expected to propel the industry further. The growing pharmaceutical and cosmetics and personal care industries are projected to support the market growth in the coming years. The industrial oils market is also expected to be catalysed by the technological advancements taking place in the industry.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global industrial oils market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

LUBRITA Europe B.V.
Paras Lubricants Ltd.
Apar Industries Ltd.
Eastern Petroleum
Repsol
Castrol Limited
Exxon Mobil Corporation
Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

1 Executive Summary: 1.1 Market Size 2024-2025; 1.2 Market Growth 2025(F)-2034(F); 1.3 Key Demand Drivers; 1.4 Key Players and Competitive Structure; 1.5 Industry Best Practices; 1.6 Recent Trends and Developments; 1.7 Industry Outlook
2 Market Overview and Stakeholder Insights: 2.1 Market Trends; 2.2 Key Verticals; 2.3 Key Regions; 2.4 Supplier Power; 2.5 Buyer Power; 2.6 Key Market Opportunities and Risks; 2.7 Key Initiatives by Stakeholders
3 Economic Summary: 3.1 GDP Outlook; 3.2 GDP Per Capita Growth; 3.3 Inflation Trends; 3.4 Democracy Index; 3.5 Gross Public Debt Ratios; 3.6 Balance of Payment (BoP) Position; 3.7 Population Outlook; 3.8 Urbanisation Trends
4 Country Risk Profiles: 4.1 Country Risk; 4.2 Business Climate
5 Global Industrial Oils Market Analysis: 5.1 Key Industry Highlights; 5.2 Global Industrial Oils Historical Market (2018-2024); 5.3 Global Industrial Oils Market Forecast (2025-20347); 5.4 Global Industrial Oils Market by Product Type; 5.4.1 Turbine Oil; 5.4.1.1 Historical Trend (2018-2024); 5.4.1.2 Forecast Trend (2025-20347); 5.4.2 Refrigeration Oil; 5.4.2.1 Historical Trend (2018-2024); 5.4.2.2 Forecast Trend (2025-20347); 5.4.3 Compressor Oil; 5.4.3.1 Historical Trend (2018-2024); 5.4.3.2 Forecast Trend (2025-20347); 5.4.4 Electrical Oil; 5.4.4.1 Historical Trend (2018-2024); 5.4.4.2 Forecast Trend (2025-20347); 5.4.5 Heat Transfer Oil; 5.4.5.1 Historical Trend (2018-2024); 5.4.5.2 Forecast Trend (2025-20347); 5.5 Global Industrial Oils Market by End Use; 5.5.1 Power Generation; 5.5.1.1 Historical Trend (2018-2024); 5.5.1.2 Forecast Trend (2025-20347); 5.5.2 Automotive and Other Transportation; 5.5.2.1 Historical Trend (2018-2024); 5.5.2.2 Forecast Trend (2025-20347); 5.5.3 Heavy Equipment; 5.5.3.1 Historical Trend (2018-2024); 5.5.3.2 Forecast Trend (2025-20347); 5.5.4 Food and Beverage; 5.5.4.1 Historical Trend (2018-2024); 5.5.4.2 Forecast Trend (2025-20347); 5.5.5 Metallurgy and Metal Working; 5.5.5.1 Historical Trend (2018-2024); 5.5.5.2 Forecast Trend (2025-20347); 5.5.6 Chemical Manufacturing; 5.5.6.1 Historical Trend (2018-2024); 5.5.6.2 Forecast Trend (2025-20347); 5.5.7 Other; 5.6 Global Industrial Oils Market by Region; 5.6.1 North America; 5.6.1.1 Historical Trend (2018-2024); 5.6.1.2 Forecast Trend (2025-2034); 5.6.2 Europe; 5.6.2.1 Historical Trend (2018-2024); 5.6.2.2 Forecast Trend (2025-2034); 5.6.3 Asia Pacific; 5.6.3.1 Historical Trend (2018-2024); 5.6.3.2 Forecast Trend (2025-2034); 5.6.4 Latin America; 5.6.4.1 Historical Trend (2018-2024); 5.6.4.2 Forecast Trend (2025-2034); 5.6.5 Middle East and Africa; 5.6.5.1 Historical Trend (2018-2024); 5.6.5.2 Forecast Trend (2025-2034)
6 North America Industrial Oils Market Analysis: 6.1 United States of America; 6.1.1 Historical Trend (2018-2024); 6.1.2 Forecast Trend (2025-2034); 6.2 Canada; 6.2.1 Historical Trend (2018-2024); 6.2.2 Forecast Trend (2025-2034)
7 Europe Industrial Oils Market Analysis: 7.1 United Kingdom; 7.1.1 Historical Trend (2018-2024); 7.1.2 Forecast Trend (2025-2034); 7.2 Germany; 7.2.1 Historical Trend (2018-2024); 7.2.2 Forecast Trend (2025-2034); 7.3 France; 7.3.1 Historical Trend (2018-2024); 7.3.2 Forecast Trend (2025-2034); 7.4 Italy; 7.4.1 Historical Trend (2018-2024); 7.4.2 Forecast Trend (2025-2034); 7.5 Others
8 Asia Pacific Industrial Oils Market Analysis: 8.1 China; 8.1.1 Historical Trend (2018-2024); 8.1.2 Forecast Trend (2025-2034); 8.2 Japan; 8.2.1 Historical Trend (2018-2024); 8.2.2 Forecast Trend (2025-2034); 8.3 India; 8.3.1 Historical Trend (2018-2024); 8.3.2 Forecast Trend (2025-2034); 8.4 ASEAN; 8.4.1 Historical Trend (2018-2024); 8.4.2 Forecast Trend (2025-2034); 8.5 Australia; 8.5.1 Historical Trend (2018-2024); 8.5.2 Forecast Trend (2025-2034); 8.6 Others
9 Latin America Industrial Oils Market Analysis: 9.1 Brazil; 9.1.1 Historical Trend (2018-2024); 9.1.2 Forecast Trend (2025-2034); 9.2 Argentina; 9.2.1 Historical Trend (2018-2024); 9.2.2 Forecast Trend (2025-2034); 9.3 Mexico; 9.3.1 Historical Trend (2018-2024); 9.3.2 Forecast Trend (2025-2034); 9.4 Others
10 Middle East and Africa Industrial Oils Market Analysis: 10.1 Saudi Arabia; 10.1.1 Historical Trend (2018-2024); 10.1.2 Forecast Trend (2025-2034); 10.2 United Arab Emirates; 10.2.1 Historical Trend (2018-2024); 10.2.2 Forecast Trend (2025-2034); 10.3 Nigeria; 10.3.1 Historical Trend (2018-2024); 10.3.2 Forecast Trend (2025-2034); 10.4 South Africa; 10.4.1 Historical Trend (2018-2024); 10.4.2 Forecast Trend (2025-2034); 10.5 Others
11 Market Dynamics: 11.1 SWOT Analysis; 11.1.1 Strengths; 11.1.2 Weaknesses; 11.1.3 Opportunities; 11.1.4 Threats; 11.2 Porter’s Five Forces Analysis; 11.2.1 Supplier’s Power; 11.2.2 Buyer’s Power; 11.2.3 Threat of New Entrants; 11.2.4 Degree of Rivalry; 11.2.5 Threat of Substitutes; 11.3 Key Indicators for Demand; 11.4 Key Indicators for Price
12 Value Chain Analysis
13 Price Analysis
14 Competitive Landscape: 14.1 Supplier Selection; 14.2 Key Global Players; 14.3 Key Regional Players; 14.4 Key Player Strategies; 14.5 Company Profiles; 14.5.1 LUBRITA Europe B.V.; 14.5.1.1 Company Overview; 14.5.1.2 Product Portfolio; 14.5.1.3 Demographic Reach and Achievements; 14.5.1.4 Certifications; 14.5.2 Paras Lubricants Ltd.; 14.5.2.1 Company Overview; 14.5.2.2 Product Portfolio; 14.5.2.3 Demographic Reach and Achievements; 14.5.2.4 Certifications; 14.5.3 Apar Lubricants Ltd.; 14.5.3.1 Company Overview; 14.5.3.2 Product Portfolio; 14.5.3.3 Demographic Reach and Achievements; 14.5.3.4 Certifications; 14.5.4 Eastern Petroleum; 14.5.4.1 Company Overview; 14.5.4.2 Product Portfolio; 14.5.4.3 Demographic Reach and Achievements; 14.5.4.4 Certifications; 14.5.5 Repsol; 14.5.5.1 Company Overview; 14.5.5.2 Product Portfolio; 14.5.5.3 Demographic Reach and Achievements; 14.5.5.4 Certifications; 14.5.6 Castrol Limited; 14.5.6.1 Company Overview; 14.5.6.2 Product Portfolio; 14.5.6.3 Demographic Reach and Achievements; 14.5.6.4 Certifications; 14.5.7 Exxon Mobil Corporation; 14.5.7.1 Company Overview; 14.5.7.2 Product Portfolio; 14.5.7.3 Demographic Reach and Achievements; 14.5.7.4 Certifications; 14.5.8 Others

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