The lubricants industry plays a crucial role in ensuring the smooth operation and longevity of machinery across various sectors, such as automotive, industrial, and marine applications. Lubricants, including engine oils, hydraulic fluids, and specialty greases, reduce friction, wear, and corrosion, improving equipment performance and reliability.
The USA, China, and India are the top three lubricant-consuming countries, with industrial and road transport sectors driving most of the demand. However, factors like battery technology, the green revolution, and industry consolidation are expected to challenge volume growth in the future.
The lubricants industry operates in a highly competitive environment, influenced by factors like industrial growth, transportation demand, environmental regulations, and technological advancements.