Introduction
Cold rolling oils/lubricants are used to remove the friction coefficient between rolling strips. They are also used to reduce the heat that is generated by the friction between strips and roll surfaces as well as to remove contamination. The global cold rolling oils/lubricants market is expected to register a CAGR of 5.1% over the forecast period (2018-2028) in volume terms. The estimated value of the cold rolling oils/lubricants market in 2018 is US$ 3,186.1 Mn and is expected to grow at a CAGR of 5.3% to reach US$ 5,339.9 Mn by the end of 2028.
Factors influencing the growth of the global cold rolling oils/lubricants market
Manufacturing techniques have transformed significantly over the past century. As compared to the traditional or conventional system, electronic systems have emerged as a more efficient technology. Moreover, this scenario has changed completely after the inclusion of electronic technologies in the system.
Increase in the demand for aluminium and steel from the automotive industry across the globe is expected to drive the cold rolling oils/lubricants market over the forecast period.
Moreover, increase in local & foreign investments in the industrial sector is anticipated to boost the demand for cold rolling oils/lubricants in the coming decade. Also, increase in the production of aluminium and steel sheets is expected to drive the cold rolling oils/lubricants market over the forecast period.
The application of cold rolling oils/lubricants decreases the coefficient of friction between the oil film and the roll & strip surface. Cold rolling oils/lubricants remove the heat that occurs due to the friction between the strip and the roll surface, and this is anticipated to propel the market of cold rolling oils/lubricants in the near future.
Increase in steel production and metal processing activities across the globe is expected to create significant opportunities for manufacturers in the coming years.
Global Cold Rolling Oils/Lubricants Market Segmentation and Forecast
The global cold rolling oils/ lubricants market is segmented on the basis of product type, material type, and region. On the basis of product type, the global cold rolling oils/ lubricants market has been segmented intosynthetic, semi-synthetic and mineral based.
On the basis of material type, the cold rolling oils/lubricants market is segmented into steel, copper, aluminium and others (titanium, etc.). Key regions covered in the report include North America, Latin America, Western Europe, Eastern Europe, South East Asia & Pacific, China, India, Japan and Middle East & Africa (MEA).
Global Cold Rolling Oils/Lubricants Market Analysis, by Region
From a regional perspective, the cold rolling oils/ lubricants market in China is anticipated to dominate the market in terms of volume and value demand. The market in the region will be significantly driven by demand from the end use industry.
The growth of the region will be supplemented by increase in steel production across the region. North America is anticipated to be the next big market accounting for a value share of 12.5% by end of the forecast period. Western Europe and Eastern Europe collectively accounted for a share of 22.4% in 2017.
Key players Dominating the Global Cold Rolling Oils/Lubricants Market
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 p.l.c., Indian Oil Corporation Ltd, Eastern Petroleum Pvt. Ltd., Hindustan Petroleum Corporation Limited, Houghton International Inc., Jiangsu Gaoke Petrochemical Co., Ltd., ETNA Products, Inc., Petroyag, Buhmwoo and Ricci S.p.A. Recently, industry players have been focusing on strategic expansion to increase their presence across the globe. In addition, manufacturers have been focusing on research and development to develop new and innovative products to expand their market presence.
Market Taxonomy
Product Type
- Synthetic
- Semi-Synthetic
- Mineral Based
Material Type
- Steel
- Copper
- Aluminum
- Others (Titanium, etc.)
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia & Pacific
- China
- India
- Japan
- Middle East and Africa (MEA)
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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