A new report by Future Market Insights examines the cold rolling oils/lubricants market and offers crucial market insights for the next 10 years. According to the report, the market is anticipated to witness increasing demand for cold rolling oils/lubricants owing to upsurge in demand for rolled products. In terms of value, the steel material type segment is anticipated to dominate the global market throughout the forecast period and is expected to register a CAGR of 5.5% during the forecast period (2018 – 2028). The estimated value of the global cold rolling oils/lubricants market in 2018 is US$ 3,186.1 Mn and is expected to expand at a CAGR of 5.3% in order to reach US$ 5,339.9 Mn by the end of 2028.
Global Cold Rolling Oils/Lubricants Market: Dynamics Impacting Growth
The global cold rolling oils/lubricants market is estimated to be driven by increasing production of steel and aluminum across the globe. Healthy growth in the global automotive industry will also be a prime factor supplementing market revenue growth. Growing local and foreign direct investments in the industrial sector, especially in developed countries in North America, Europe and Asia will also upsurge the demand for cold rolling oils/lubricants over the forecast period. Moreover, increasing demand for aluminum and steel sheets in the automotive industry is anticipated to be a prominent factor pushing revenue growth of the global cold rolling oils/lubricants market in the near future. Strategic expansion in key markets is expected to remain a major focus area for leading players in the global cold rolling oils/lubricants market.
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On the other hand, one of the major challenges faced by cold rolling oils/lubricants manufacturers is the fluctuating price of raw materials, which is anticipated to restrain revenue growth of the cold rolling oils/lubricants market over the forecast period. Moreover, stringent environment regulations associated with the use of cold rolling oils/lubricants is also expected to hinder the growth of the market during the forecast period. Leading players in the market are investing heavily in research and development as a major part of their growth strategy to launch new and innovative products in the global market.
Global Cold Rolling Oils/Lubricants Market Forecast
On the basis of product type, the synthetic segment is estimated to account for about 38.0% market value share by 2018 end. This segment is expected to register a CAGR of 5.0% over the forecast period. In terms of value, the synthetic segment is anticipated to hold major share owing to high demand from steel and iron manufacturers.
On the basis of material type, the steel segment is expected to dominate the overall revenue generated in 2018 followed by aluminum. This segment is expected to expand at a CAGR of 5.5% over the forecast period.
On the basis of region, China is anticipated to dominate the cold rolling oils/lubricants market both in terms and value and volume. Increasing steel production and metal processing activities in China are expected to support the growth of the cold rolling oils/lubricants market over the forecast period.
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Global Cold Rolling Oils/Lubricants Market: Competitive Landscape
Some of the players reported in this study on the global cold rolling oils/lubricants 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, and Ricci S.p.A.