Cold Rolling Oils/Lubricants Industry Size, Share, Demand & Growth by 2028
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 global 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. The global demand for cold rolling lubricants increased by a magnitude of 4.6% over the first half of 2021.
The growing automotive, transportation and construction sector across the globe amplify the demand for cold rolling oils/ lubricants. An upsurge in demand for steel and aluminum sheets, among others, from automotive and construction sectors will, in turn, aid the growth of the target market during 2022-028. The automotive industry, particularly, has contributed to this spike in demand for steel and aluminium, and has extensively shaped the demand for the target market over the upcoming years.
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.
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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:
- Fluctuating raw material prices and decreasing supply of crude oil may stymie the market growth.
- In 2022, the cold rolling oils/ lubricants market in North America will account for 13.1% of the overall market share.
- High industrialization in India and China will propel the Asia Pacific cold rolling oils/ lubricants market growth.
- Presently, China holds about 44.7% of the global cold rolling oils/ lubricants market share.
- The synthetic rolling lubricants will have a lucrative prospect during 2022-2028.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing — ‘The Way Forward’.
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