Slideway Oil Market Overview
The Slideway Oil market size is
estimated to reach US$98.5 billion by 2027, after growing at a CAGR of 4.6%
during the forecast period 2022-2027. Slideway Oils are high-performance lubricants
made from premium ingredients that are designed to provide exceptional
protection, efficient lubrication, reusing coolants and high stability. Slideway
oils such as processing, industrial, metalworking and hydraulic fluids are
expected to grow significantly over the forecast period due to rising machinery
demand from various downstream industries such as automotive and food &
beverages. This would drive the market growth of the slideway oils market in the automotive
and food & beverages industries. Growing investment interest in machining
technology, as well as strong demand for automated manufacturing across the
industrial sector, are driving the slideway oil market. The COVID-19 pandemic majorly
impacted the slideway oil market due to restricted production, supply
chain disruption, logistics restrictions and a fall in demand. However, with
robust growth and flourishing applications across major industries such as
automotive, industrial and others, the Slideway Oil market
size is anticipated to grow rapidly during the forecast period.
Slideway Oil Report Coverage
The “Slideway Oil Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis
of the following segments in the Slideway Oil industry.
Key Takeaways
- Asia-Pacific dominates the Slideway Oil market size. The increase in demand from end-user sectors, such as automotive, aerospace and building & construction, is the main factor driving the region's growth.
- A significant increase in automobile retail sales would also have a positive impact on Slideway Oil’s market outlook, as this oil can be used to lubricate automotive conveyor belts, among other things.
- The increasing number of technological advancements, combined with the availability of regulation-compliant products, would further create numerous opportunities, leading to the growth of the Slideway Oil market during the forecast period.
- However, fluctuation in raw material prices is anticipated to hamper the Slideway Oil market size growth during the forecast period.
Figure: Slideway Oil Market Revenue Share, by Geography, 2021 (%)
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Slideway Oil Market Segment Analysis – by Type
The ISO VG 68 segment held a
significant share in the Slideway Oil market share in 2021 and is forecasted to
grow at a CAGR of 4.5% during the forecast period 2022-2027. This is due to extensive
characteristics provided by ISO VG 220 over other material types such as ISO VG
32, ISO VG 100 and others. These product grades have varying viscosities,
making them useful in a variety of industries. ISO VG 68 is widely utilized due to
the increasing use of horizontal slideways. Large machines make extensive use
of the product for circulating applications. Due to its high lubrication
properties, this technology is widely used as a moderate-duty hydraulic fluid
and in the production of gear oil. Thus, owing to tremendous advantages and availability
over material types, the demand for ISO VG 68 is growing for application in major
industries, thereby boosting the growth opportunities for the Slideway Oil
industry in the projected years.
Slideway Oil Market Segment Analysis – by End-use Industry
The Automotive segment held a
significant share in the Slideway Oil market in 2021 and is expected to
grow at a CAGR of 4.9% during the forecast period 2022-2027, owing to the
increasing usage of metal bonding adhesive in the automotive industry. Increasing
use of slideway oil in the automotive industry due to properties such as
corrosion, lubrication and anti-wear, expanding applications from the machine and hydraulic system, and increasing machinery shelf life and efficiency drive
the slideway oil market growth in the automotive industry. According to the
Energy Information Administration (EIA), by 2035, there would be 1.7 million
automobiles worldwide. According to the International Organization of Motor Vehicle
Manufacturers (OICA), automobile output increased by 10% in the first nine
months of 2021, to 57.26 million vehicles, up from 52.15 million units in the
same period last year. With the increasing automotive production, the demand
for slideway oil would also likely increase, as a result of which the slideway
Oil industry would be flourished over the forecast period.
Slideway Oil Market Segment Analysis – by Geography
The Asia-pacific segment held a significant share of up to 52% in the Slideway Oil market share in 2021. The flourishing growth of metal bonding adhesives is influenced by its major applications across various industries, along with growing development in automotive production and the development of the base for slideway oil in APAC. The automotive sector in Asia-pacific is rapidly growing due to a flourishing base for automotive manufacturers, demand for automotive compounds and a rise in production. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production in Malaysia and Vietnam grew by 1.2 percent and 5.5 percent from the previous year to 5,71,632 and 2,50,000 units, respectively, in 2019. In November 2020, Boeing forecasted that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years. Thus, the growth of Slideway Oil in the region is being aided by the increasing automotive sector in APAC.
Slideway Oil Market Drivers
Bolstering Growth of the Building & Construction Industry:
Slideway Oil is widely used in building and construction for
industrial metalworking machinery and tools such as lathes, cutting machines,
grinding machines and milling machines. According to the International Trade
Administration, the construction sector in China is projected to grow at an
average of 8.6% from the year 2022 to 2030. According to Oxford Economics, the
global construction output in 2020 was US$10.7 trillion and is expected to
grow by 42% or US$4.5 trillion during 2020-2030 to reach US$15.2 trillion. With the rise in building and construction projects
across the globe, the demand for slideway oil is anticipated to rise for
various applications such as machinery and equipment, bearing, steel ball
and others. This is projected to boost the market growth in the building and construction
industry during the forecast period.
Bolstering Growth of the Food & Beverages:
Emerging machinery demand by the food & beverages industry is driving the market growth of the Slideway Oil market. This is due to the oil's excellent suitability for lubricating drive chains, gearboxes, conveyor chains, slideways and redactor chains in the food and beverage processing sector. Moreover, increasing demand from the food and beverage sectors due to the lubrication, corrosion and anti-wear properties is expected to drive the global slideway oil market growth. According to the China Chain Store & Franchise Association, the food and beverage (F&B) sector in China reached $595 billion in 2019, up by 7.8% from 2018. According to Department for Environment Food and Rural Affairs, the food industry in the UK grew by 49.4% between 2009 and 2019. Since the food & beverage sector industries are booming, the demand for slideway oil is also significantly increasing. Thus, the increasing food & beverage sector acts as a driver for the Slideway Oil industry during the forecast period.
Slideway Oil Market Challenge
Stringent Government Regulations:
The major
challenges for the industry are compliance with stringent government
regulations such as EPA, EU and REACH, as well as dealing with high raw
material prices. Dealing with contamination from water-based coolants and hydraulic
fluids is an additional challenge that is primarily related to product usage. Moreover,
the easy availability of bio-based substitutes, as well as dealing with
pollution from metalworking fluids and water-based coolants, would be the
biggest and most pressing challenges in the market's growth. Companies are
focusing on overcoming frictional challenges such as shuddering and resistance,
which would result in significant growth opportunities for the industry over the
next seven years.
Slideway Oil Industry Outlook
Technology launches, acquisitions and R&D activities are
key strategies adopted by players in the Slideway Oil market. The top 10
companies in the Slideway Oil market are:
- Royal Dutch Shell plc
- Lubrita Europe B.V.
- Morris Lubricants
- Rustx Hi-Tech International
- Chevron Corporation
- Exxon Mobil Corporation
- Smith and Allan
- Petro-Canada Lubricants Inc.
- Valvoline Inc.
- Lubricants NZ LTD
Relevant Reports
Report Code: CMR 0736
Report Code: FBR 0275
Report Code: CMR 78727
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Slideway Oil Product Outlook Market 2019-2024 ($M)1.1 Iso Vg 68 Market 2019-2024 ($M) - Global Industry Research
1.2 Iso Vg 220 Market 2019-2024 ($M) - Global Industry Research
2.Global Competitive Landscape Market 2019-2024 ($M)
2.1 Exxon Mobil Market 2019-2024 ($M) - Global Industry Research
2.2 Shell Market 2019-2024 ($M) - Global Industry Research
2.3 Total Market 2019-2024 ($M) - Global Industry Research
2.4 Chevron Market 2019-2024 ($M) - Global Industry Research
2.5 Fuchs Group Market 2019-2024 ($M) - Global Industry Research
2.6 Oil Corporation Market 2019-2024 ($M) - Global Industry Research
2.7 Apar Market 2019-2024 ($M) - Global Industry Research
2.8 Bp Plc Market 2019-2024 ($M) - Global Industry Research
2.9 Valvoline International Inc Market 2019-2024 ($M) - Global Industry Research
2.10 Idemitsu Kosan Co., Ltd Market 2019-2024 ($M) - Global Industry Research
2.11 Sinopec Market 2019-2024 ($M) - Global Industry Research
2.12 Veedol International Limited Market 2019-2024 ($M) - Global Industry Research
2.13 Castrol Market 2019-2024 ($M) - Global Industry Research
2.14 Sasol Market 2019-2024 ($M) - Global Industry Research
2.15 Lukoil Lubricant Company Market 2019-2024 ($M) - Global Industry Research
3.Global Slideway Oil Product Outlook Market 2019-2024 (Volume/Units)
3.1 Iso Vg 68 Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Iso Vg 220 Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Competitive Landscape Market 2019-2024 (Volume/Units)
4.1 Exxon Mobil Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Shell Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Total Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Chevron Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Fuchs Group Market 2019-2024 (Volume/Units) - Global Industry Research
4.6 Oil Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
4.7 Apar Market 2019-2024 (Volume/Units) - Global Industry Research
4.8 Bp Plc Market 2019-2024 (Volume/Units) - Global Industry Research
4.9 Valvoline International Inc Market 2019-2024 (Volume/Units) - Global Industry Research
4.10 Idemitsu Kosan Co., Ltd Market 2019-2024 (Volume/Units) - Global Industry Research
4.11 Sinopec Market 2019-2024 (Volume/Units) - Global Industry Research
4.12 Veedol International Limited Market 2019-2024 (Volume/Units) - Global Industry Research
4.13 Castrol Market 2019-2024 (Volume/Units) - Global Industry Research
4.14 Sasol Market 2019-2024 (Volume/Units) - Global Industry Research
4.15 Lukoil Lubricant Company Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Slideway Oil Product Outlook Market 2019-2024 ($M)
5.1 Iso Vg 68 Market 2019-2024 ($M) - Regional Industry Research
5.2 Iso Vg 220 Market 2019-2024 ($M) - Regional Industry Research
6.North America Competitive Landscape Market 2019-2024 ($M)
6.1 Exxon Mobil Market 2019-2024 ($M) - Regional Industry Research
6.2 Shell Market 2019-2024 ($M) - Regional Industry Research
6.3 Total Market 2019-2024 ($M) - Regional Industry Research
6.4 Chevron Market 2019-2024 ($M) - Regional Industry Research
6.5 Fuchs Group Market 2019-2024 ($M) - Regional Industry Research
6.6 Oil Corporation Market 2019-2024 ($M) - Regional Industry Research
6.7 Apar Market 2019-2024 ($M) - Regional Industry Research
6.8 Bp Plc Market 2019-2024 ($M) - Regional Industry Research
6.9 Valvoline International Inc Market 2019-2024 ($M) - Regional Industry Research
6.10 Idemitsu Kosan Co., Ltd Market 2019-2024 ($M) - Regional Industry Research
6.11 Sinopec Market 2019-2024 ($M) - Regional Industry Research
6.12 Veedol International Limited Market 2019-2024 ($M) - Regional Industry Research
6.13 Castrol Market 2019-2024 ($M) - Regional Industry Research
6.14 Sasol Market 2019-2024 ($M) - Regional Industry Research
6.15 Lukoil Lubricant Company Market 2019-2024 ($M) - Regional Industry Research
7.South America Slideway Oil Product Outlook Market 2019-2024 ($M)
7.1 Iso Vg 68 Market 2019-2024 ($M) - Regional Industry Research
7.2 Iso Vg 220 Market 2019-2024 ($M) - Regional Industry Research
8.South America Competitive Landscape Market 2019-2024 ($M)
8.1 Exxon Mobil Market 2019-2024 ($M) - Regional Industry Research
8.2 Shell Market 2019-2024 ($M) - Regional Industry Research
8.3 Total Market 2019-2024 ($M) - Regional Industry Research
8.4 Chevron Market 2019-2024 ($M) - Regional Industry Research
8.5 Fuchs Group Market 2019-2024 ($M) - Regional Industry Research
8.6 Oil Corporation Market 2019-2024 ($M) - Regional Industry Research
8.7 Apar Market 2019-2024 ($M) - Regional Industry Research
8.8 Bp Plc Market 2019-2024 ($M) - Regional Industry Research
8.9 Valvoline International Inc Market 2019-2024 ($M) - Regional Industry Research
8.10 Idemitsu Kosan Co., Ltd Market 2019-2024 ($M) - Regional Industry Research
8.11 Sinopec Market 2019-2024 ($M) - Regional Industry Research
8.12 Veedol International Limited Market 2019-2024 ($M) - Regional Industry Research
8.13 Castrol Market 2019-2024 ($M) - Regional Industry Research
8.14 Sasol Market 2019-2024 ($M) - Regional Industry Research
8.15 Lukoil Lubricant Company Market 2019-2024 ($M) - Regional Industry Research
9.Europe Slideway Oil Product Outlook Market 2019-2024 ($M)
9.1 Iso Vg 68 Market 2019-2024 ($M) - Regional Industry Research
9.2 Iso Vg 220 Market 2019-2024 ($M) - Regional Industry Research
10.Europe Competitive Landscape Market 2019-2024 ($M)
10.1 Exxon Mobil Market 2019-2024 ($M) - Regional Industry Research
10.2 Shell Market 2019-2024 ($M) - Regional Industry Research
10.3 Total Market 2019-2024 ($M) - Regional Industry Research
10.4 Chevron Market 2019-2024 ($M) - Regional Industry Research
10.5 Fuchs Group Market 2019-2024 ($M) - Regional Industry Research
10.6 Oil Corporation Market 2019-2024 ($M) - Regional Industry Research
10.7 Apar Market 2019-2024 ($M) - Regional Industry Research
10.8 Bp Plc Market 2019-2024 ($M) - Regional Industry Research
10.9 Valvoline International Inc Market 2019-2024 ($M) - Regional Industry Research
10.10 Idemitsu Kosan Co., Ltd Market 2019-2024 ($M) - Regional Industry Research
10.11 Sinopec Market 2019-2024 ($M) - Regional Industry Research
10.12 Veedol International Limited Market 2019-2024 ($M) - Regional Industry Research
10.13 Castrol Market 2019-2024 ($M) - Regional Industry Research
10.14 Sasol Market 2019-2024 ($M) - Regional Industry Research
10.15 Lukoil Lubricant Company Market 2019-2024 ($M) - Regional Industry Research
11.APAC Slideway Oil Product Outlook Market 2019-2024 ($M)
11.1 Iso Vg 68 Market 2019-2024 ($M) - Regional Industry Research
11.2 Iso Vg 220 Market 2019-2024 ($M) - Regional Industry Research
12.APAC Competitive Landscape Market 2019-2024 ($M)
12.1 Exxon Mobil Market 2019-2024 ($M) - Regional Industry Research
12.2 Shell Market 2019-2024 ($M) - Regional Industry Research
12.3 Total Market 2019-2024 ($M) - Regional Industry Research
12.4 Chevron Market 2019-2024 ($M) - Regional Industry Research
12.5 Fuchs Group Market 2019-2024 ($M) - Regional Industry Research
12.6 Oil Corporation Market 2019-2024 ($M) - Regional Industry Research
12.7 Apar Market 2019-2024 ($M) - Regional Industry Research
12.8 Bp Plc Market 2019-2024 ($M) - Regional Industry Research
12.9 Valvoline International Inc Market 2019-2024 ($M) - Regional Industry Research
12.10 Idemitsu Kosan Co., Ltd Market 2019-2024 ($M) - Regional Industry Research
12.11 Sinopec Market 2019-2024 ($M) - Regional Industry Research
12.12 Veedol International Limited Market 2019-2024 ($M) - Regional Industry Research
12.13 Castrol Market 2019-2024 ($M) - Regional Industry Research
12.14 Sasol Market 2019-2024 ($M) - Regional Industry Research
12.15 Lukoil Lubricant Company Market 2019-2024 ($M) - Regional Industry Research
13.MENA Slideway Oil Product Outlook Market 2019-2024 ($M)
13.1 Iso Vg 68 Market 2019-2024 ($M) - Regional Industry Research
13.2 Iso Vg 220 Market 2019-2024 ($M) - Regional Industry Research
14.MENA Competitive Landscape Market 2019-2024 ($M)
14.1 Exxon Mobil Market 2019-2024 ($M) - Regional Industry Research
14.2 Shell Market 2019-2024 ($M) - Regional Industry Research
14.3 Total Market 2019-2024 ($M) - Regional Industry Research
14.4 Chevron Market 2019-2024 ($M) - Regional Industry Research
14.5 Fuchs Group Market 2019-2024 ($M) - Regional Industry Research
14.6 Oil Corporation Market 2019-2024 ($M) - Regional Industry Research
14.7 Apar Market 2019-2024 ($M) - Regional Industry Research
14.8 Bp Plc Market 2019-2024 ($M) - Regional Industry Research
14.9 Valvoline International Inc Market 2019-2024 ($M) - Regional Industry Research
14.10 Idemitsu Kosan Co., Ltd Market 2019-2024 ($M) - Regional Industry Research
14.11 Sinopec Market 2019-2024 ($M) - Regional Industry Research
14.12 Veedol International Limited Market 2019-2024 ($M) - Regional Industry Research
14.13 Castrol Market 2019-2024 ($M) - Regional Industry Research
14.14 Sasol Market 2019-2024 ($M) - Regional Industry Research
14.15 Lukoil Lubricant Company Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Slideway Oil Market Revenue, 2019-2024 ($M)2.Canada Slideway Oil Market Revenue, 2019-2024 ($M)
3.Mexico Slideway Oil Market Revenue, 2019-2024 ($M)
4.Brazil Slideway Oil Market Revenue, 2019-2024 ($M)
5.Argentina Slideway Oil Market Revenue, 2019-2024 ($M)
6.Peru Slideway Oil Market Revenue, 2019-2024 ($M)
7.Colombia Slideway Oil Market Revenue, 2019-2024 ($M)
8.Chile Slideway Oil Market Revenue, 2019-2024 ($M)
9.Rest of South America Slideway Oil Market Revenue, 2019-2024 ($M)
10.UK Slideway Oil Market Revenue, 2019-2024 ($M)
11.Germany Slideway Oil Market Revenue, 2019-2024 ($M)
12.France Slideway Oil Market Revenue, 2019-2024 ($M)
13.Italy Slideway Oil Market Revenue, 2019-2024 ($M)
14.Spain Slideway Oil Market Revenue, 2019-2024 ($M)
15.Rest of Europe Slideway Oil Market Revenue, 2019-2024 ($M)
16.China Slideway Oil Market Revenue, 2019-2024 ($M)
17.India Slideway Oil Market Revenue, 2019-2024 ($M)
18.Japan Slideway Oil Market Revenue, 2019-2024 ($M)
19.South Korea Slideway Oil Market Revenue, 2019-2024 ($M)
20.South Africa Slideway Oil Market Revenue, 2019-2024 ($M)
21.North America Slideway Oil By Application
22.South America Slideway Oil By Application
23.Europe Slideway Oil By Application
24.APAC Slideway Oil By Application
25.MENA Slideway Oil By Application