Cold Rolling Oils/Lubricants Market in Preventing Surface Defects in Steel Production to Reach a Value of US$ 18.2 Billion in 2028

Apr 28, 2023

The global cold rolling oils/ lubricants market is projected to reach a value of US$ 18.2 Billion in 2028, with demand growing at a standard CAGR of 5.6% from 2022 to 2028. In 2022, the target market is expected to reach an estimated US$ 14.5 Billion. Cold rolling oils/ lubricants are in high demand from the automotive and transportation sectors.

In addition, accelerated urbanization and industrialization boost the demand for the cold rolling oils/ lubricants market during the forecast period. The growing automotive, transportation, and construction sectors across the globe amplify the demand for cold rolling oils/ lubricants.

An upsurge in demand for steel and aluminum sheets, among others, from the automotive and construction sectors, will, in turn, aid the growth of the target market during 2022-2028. The automotive industry, particularly, has contributed to this spike in demand for steel and aluminum and has extensively shaped the demand for the target market over the upcoming years.

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Moreover, the increasing investments in the industrial sector, rise in production of metals like steel and aluminum, advancing research and development of synthetic lubricants, shifting requirements for different cold rolling processes, rapid industrialization in emerging economies, and growing technological advancements are certain factors that will likely boost the global sales of the cold rolling oils/ lubricants market during the next few years.

Again, rising FDI in the industrial and construction sector, a surge in disposable income, and swift urbanization are driving the demand for cold-rolled products, which ultimately bolsters the sales of cold-rolling oil.

"Surging demand for aluminum sheet, steel sheet, and others from automotive and construction sector will likely augment the global growth of the cold rolling oils/ lubricants market over the forecast period," says an FMI analyst.

Key Takeaways:

Competitive Landscape

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. Among others are some of the major players in the cold rolling oils/ lubricants market profiled in the full version of the report.

Key market players are focusing on investing in research and development activities to produce new products. These enterprises are adopting strategic mergers and acquisitions to strengthen their market position.

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Key Segments of Cold Rolling Oils/Lubricants Industry Survey

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More Insights into Cold Rolling Oils/ Lubricants Market Report

In its latest report, FMI offers an unbiased analysis of the global cold rolling oils/ lubricants market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2028.

According to the latest FMI reports, based on segmentation, the synthetic cold rolling oils/ lubricants segment will dominate the international market space. This segment will continue to gain traction and demand during the projected period. This is so because of the rapid development of the manufacturing sector, especially in countries like Brazil, China, and India.

Based on region, the cold rolling oils/ lubricants market in China will display immense growth during 2022-2028. A major production and manufacturing center, China accounts for almost 44.7% of the global cold rolling oils/ lubricants market share.

The swift evolution of the industrial sector coupled with heightened demand for steel and aluminum across different end-use industries including automotive and construction further aids the cold rolling oils/ lubricants market growth in this country. Apart from China, India, Brazil, and the United States will also demonstrate considerable cold rolling oils/ lubricants market growth during the forecast period.

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Lubricants Market: The global lubricants market is expected to reach a market valuation of US$ 160.2 Billion by the year 2022, accelerating with a CAGR of 4.5% by 2022-2032.

Industrial Lubricants Market: The global industrial lubricants market is anticipated to be valued at US$ 21,832 Million in 2022, forecast a CAGR of 4.4% to be valued at US$ 33,582 Million from 2022 to 2032.

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