Reducing the wear caused by friction of bodies in relative motion, lubricants have become one of the essential materials used in industry. Some of the other applications of lubricants making them indispensable are eliminating heat and wear debris, rendering additives into the contact, and transmitting power. Such multifarious usages have created a rapidly thriving market for industrial lubricants. The global lubricants market size was valued at USD 125.81 billion in 2020 and is expected to grow at a compound annual growth rate of close to 4 percent from 2021 to 2028.Lubricants are being majorly used as diesel engine oils, gearbox & transmissions in passenger cars, commercial vehicles & motorcycle segments of the automotive sector. Growing automobile sales are expected to augment the global industry growth in the near future.
The automotive segment is the largest end-user market for lubricants in India. Light-duty vehicles which include two-wheelers and passenger cars are primary adopters. Engine oils, gear oils, transmission oils, greases, and compressor oils are the most widely used lubricants in these automobiles. Lubricants have a good share in both the OEM and the aftermarket. In terms of raw material, the industry dynamics are changing, owing to the rising demand for bio-based lubricants. The growing trade of vehicles and their spare parts is anticipated to fuel the demand for automotive oils and greases. Several players are venturing into this market to meet the increasing demand for industrial lubricants.
After studying the industry landscape in-depth, we have come up with the list of Top 10 Lubricant Manufacturers who have excelled in this domain with their innovative approach. Having proven their dedication to quality and delivery in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd.
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