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Rolling Lubricants Market

Market Study on Rolling Lubricants: Steel Sector to Remain Key End User Over Coming Years

Rolling Lubricants Market Analysis and Review by Product Type (Synthetic, Semi-Synthetic & Mineral based)

Market Snapshot

According to newly released data by PMR, it is expected that by the end of 2023, global sales of rolling lubricants will surpass US$ 10,098.1 Mn. Rolling lubricants are expected to be more in demand between 2023 and 2033, with a 5.2% annual growth rate.

Attributes Key Insights

Rolling Lubricants Market Value (2022A)

US$ 9,640.9 Mn

Rolling Lubricants Market Estimation (2023E)

US$ 10,098.1 Mn

Rolling Lubricants Market Forecast (2033F)

US$ 16,764.7 Mn

Value CAGR (2023-2033)

5.2%

Collective Value Share: Top 3 Countries (2022A)

17.7%

The Rolling Lubricants market is projected to grow at a significant rate, driven by rising consumption in end use industries owing to substantial growth of end use industries. North America & Europe are expected to hold around 30% share collectively in the year 2022.

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Consumption Analysis of Rolling Lubricants from 2017 to 2022 Vs Market Outlook for 2023 to 2033

The majority of rolling lubricants used in the rolling of metals are neat oils or emulsions. These are employed to make it easier to thin out various ferrous or non-ferrous metals. These lubricants are beneficial in many ways, including lowering friction between the rollers, removing heat generated during rolling and cooling the rollers, enhancing surface quality, and moving metal fines and other material from the roll bite zone to the filter.

Over the past few years, the market for rolling lubricants has experienced significant expansion. However, the crisis brought on by the COVID-19 epidemic has significantly affected the market. Due to a large decline in YoY growth in 2020, the total growth between 2017 and 2022 was about 0.5%.

Market growth is anticipated to be stronger during the forecast period and to accelerate at a CAGR of 5.2%. A significant market participant for rolling lubricants is the end-use automobile sector. Due to the extensive use of rolled steel and aluminum in the automotive sector, which is expanding quickly, the need for rolling lubricants is also expected to increase.

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What are the Key Opportunities in the global market for Rolling Lubricants Manufacturers?

Manufacturers continuously monitor consumer needs in terms of product performance, quality, safety, and environmental protection in order to timely meet demand. For both hot rolling and cold rolling of metals, major market players have created cutting-edge synthetic and semi-synthetic rolling lubricants. Additionally, they offer comprehensive client care through committed pre-sales product selection guidance and after-sales support.

Companies are expanding their investments in the field of research and development. This is being done to investigate potential new business ventures. For instance, one of the main areas of interest has been determining if water-based nano-rolling lubricants can replace lubricants that are based on minerals.

Rolling lubricants, particularly steel and aluminum rolling, are successful enterprises with consistent demand from the metals sector. Due to the significant profitable revenue created by this market and the bright prospects due to the increasing automobile and construction sectors, many key companies are investing in acquisitions of competing companies' rolling lubricants operations.

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What are the key restraints that are expected to impact the market during the projected period?

In many countries, hot-rolled and cold-rolled steel coil prices have fluctuated in an effort to close the price gap between domestically produced goods and imports. There have been numerous price changes for rolled steel over the studied time, which frequently causes buyers and end users inconvenience. Price hikes for rolled steel during the pandemic have also caused buyers to hesitate. In the United States, the cost of rolled steel has risen by more than 200% by the year 2020. Such ambiguities and changes limit the market for rolled steel, which subsequently has an effect on the market for rolling lubricants.

Since crude oil and petroleum are limited resources, there is a growing awareness of the need to move to renewable sources of energy. Numerous varieties of rolling lubricants are either direct crude oil refined mineral lubricants or mineral lubricants with additives known as semi-synthetic lubricants. Thus, crude oil is a significant source of dependence for the rolling lubricants sector.

Due to their reliance on mineral-based and semi-synthetic rolling lubricants, they are more susceptible to problems with the supply of petroleum or crude oil. Companies that make lubricants will need to primarily transition to synthetic rolling lubricants in order to decrease this dependence due to limited reserves of the same.

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Country-wise Analysis

What is the Consumption Outlook of Rolling Lubricants in the U.S.?

In terms of value, the U.S. market is projected to account for 10% of the global market in 2022. Due to the presence of several important rolling lubricant manufacturers, the country is also predicted to be a significant market in the rolling lubricant industry. The market expansion in the region is being facilitated by the rising usage of cutting-edge technologies in North America.

Due to the expansion of the metal processing sector, cold rolling oil sales in the United States are anticipated to rise in the upcoming years. It is anticipated that the US will consume much more aluminum as a result of robust vehicle demand and steady growth in the real estate market. The need for rolling metals is anticipated to increase due to the presence of significant automotive, aerospace, and construction industries. All of these elements are anticipated to have a substantial impact on the market growth for rolling lubricants.

Why Does China Account for a significant share of the Rolling Lubricants market?

The rising need for steel and aluminum from sectors like automotive and transportation, as well as China's rapidly expanding industrial economy, have made the country a lucrative market for rolling lubricants. A rise in orders for flat steel and aluminum used in appliances and vehicles in China is a result of the country's growing purchasing power.

The market has benefited from the presence of big-scale Rolling Lubricants producers due to the availability of inexpensive raw materials and fewer operational obstacles. China is anticipated to expand at a CAGR of 5.6% during the projected period.

Category-wise Insights

What Is The Growth Outlook Of Cold Rolling Lubricants during The Projected Period?

Cold rolling oils and lubricants buyers in developed economies seek out oils with a high load-bearing capacity, suitable viscosity, and a low coefficient of friction. Manufacturers have greatly increased their ability to respond quickly to such specialized client requests through targeted R&D and product innovation in advanced lubricant manufacturing and refining. Shortly, this trend is anticipated to spread across the global market, open up enormous opportunities, and ultimately fuel market expansion.

With the development of new technologies, the porosity in sheets of steel and aluminum will be reduced. For instance, spray can now be minimized with the aid of lasers and other technology. New spraying techniques utilize less water or even don't need any. On the global market, research and development are also being done to significantly extend the life of sheet metal. These elements are anticipated to have a significant positive impact on the cold rolling lubricants market.

Why is Demand for Rolling Lubricants surging in Aluminium Segment?

The automotive industry is a significant contributor to the greenhouse effect due to rising vehicle production and sales, which have increased carbon emissions. As a result, several authorities have established rules for the development of green technology and vehicles that are significantly more fuel efficient than prior models. These elements have increased the demand for lightweight vehicles. Vehicle weight has been lowered by 30%–40% and fuel efficiency have increased by 10%–20% due to the use of lightweight materials like aluminum and magnesium.

In the automotive industry, aluminum is frequently utilized for the body, powertrain, and other structural components. Aluminum is utilized in mass-produced vehicles as well as high-end ones, thus its use is not limited to the latter. Due to its expanding use in steering knuckles, suspension arms, and cross-member applications, aluminum's use in light vehicles is expected to increase by 70% by the end of 2030. This is expected to drive up demand for rolling lubricant for aluminum throughout the forecast period.

Competitive Landscape

To meet the shifting demands of the market, producers continuously endeavor to innovate and develop new products. For both hot and cold rolling of metals, companies have developed cutting-edge synthetic and semi-synthetic rolling lubricants. They also offer comprehensive customer support.

A few major players in the rolling lubricants industry are concentrating on mergers and acquisitions with regional competitors in developing areas to expand their worldwide reach.

For Instance:

  • In August 2020, Idemitsu Kosan Co., Ltd. Initiated operation and production at the Huizhou Plant of Huizhou Idemitsu Lube Co., Ltd., with a capacity of 120,000 KL, to increase its supply capacity to accommodate the growing demand for high-performance lubricants in China.
  • In September 2020, Total SE announced the acquisition of Lubrilog SAS, a company that specialized in the formulation and production of high-performance synthetic lubricants.

Rolling Lubricants Industry Report Scope

Attribute Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • US$ Mn for Value
  • KT for volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Austria
  • Switzerland
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • By Product Type
  • By Rolling Process
  • By Application
  • By Region

Key Companies Profiled

  • Exxon Mobil Corporation
  • Croda International PLC
  • Total S.A.
  • BP plc. (Castrol)
  • Indian Oil Corporation Ltd
  • Hindustan Petroleum Corporation Limited
  • Quaker Houghton
  • Jiangsu Gaoke Petrochemical Co., Ltd.
  • ETNA Products, Inc.
  • Petroyag Lubricants
  • Buhmwoo Group
  • Ricci S.p.A.
  • T&L Chemical
  • Idemitsu Kosan Co., Ltd.
  • Eastern Petroleum Pvt. Ltd.

Pricing

Available upon Request

Key Segments Covered in Rolling Lubricants Market Research

By Product Type

  • Synthetic
  • Semi-Synthetic
  • Mineral Based

By Rolling Process

  • Cold Rolling
  • Hot Rolling

By Application

  • Steel
  • Copper
  • Aluminum
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • Exxon Mobil Corporation
  • Croda International PLC
  • Total S.A.
  • BP plc.
  • Indian Oil Corporation Ltd
  • Hindustan Petroleum Corporation Limited
  • Quaker Houghton
  • Jiangsu Gaoke Petrochemical Co., Ltd.
  • ETNA Products, Inc.
  • Petroyag Lubricants
  • Buhmwoo Group
  • Ricci S.p.A.
  • T&L Chemical
  • Idemitsu Kosan Co., Ltd.
  • Eastern Petroleum Pvt. Ltd.

- Frequently Asked Questions -

The global Rolling Lubricants market is estimated to be valued at over US$ 9,640.9 Mn as of 2022.

Increasing Utilization of Steel in Building & Construction and rising aluminum consumption in the automotive industry are expected to drive the market.

Consumption of Rolling Lubricants is projected to increase at a 5.2% CAGR between 2023 and 2033.

The market in India is set to expand at a 6.5% CAGR during the coming forecasted period.

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