Cold Rolling Oils/Lubricants Market Size, Share, Growth Report 2032

Cold Rolling Oils/Lubricants Market Size:

The global cold rolling oils/lubricants market size was worth around USD 13.29 billion in 2021 and is estimated to grow to about USD 17.98 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the cold rolling oils/lubricants market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cold rolling oils/lubricants market.

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Cold Rolling Oils/Lubricants Market: Overview

Cold rolling oils work well in both high and low-speed cold rolling mills and are suitable for the production of non-ferrous as well as ferrous sheet metal, such as copper alloys, copper, and stainless steel. Cold rolling is a method of passing metal across rollers at temperatures less than those of recrystallization. The hardness and yielding strength of the metal are increased by compressing and squeezing it. The highest surface quality of the end product is accomplished by lubricating the roll bite and chilling the metal strip & work rolls utilizing highly efficient clean cold rolling oil.

COVID-19 Impact:

The COVID-19 outbreak had a devastating influence on production, rendering numerous sectors obsolete in a short amount of time. Manufacturing production throughout the world has been affected by disturbances in the supply chain and a lack of raw materials owing to global shutdown restrictions. With sales plummeting and markets collapsing, demand decreased, and many sectors were forced to close to make up for lost revenue. Metal demand fell, and revenues of cold rolling oils fell as well. As the economy recovers to normal and needs from end-use sectors such as automotive and construction rise, cold rolling oil shipments are likely to climb at a steady rate in the post-pandemic age.

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Cold Rolling Oils/Lubricants Market: Growth Drivers

Growing demand for synthetic rolling oils to fuel the market growth

Rapidly increasing urbanization and industrialization have boosted the manufacturing sector, resulting in increased demand for metals in a variety of end-use sectors. With nations like Brazil, India, and China seeing tremendous growth in the industrial sector, synthetic rolling oils are likely to be extremely profitable. Synthetic rolling oils have a low coefficient of friction and a strong load-bearing capacity, making them a popular option among major manufacturers all over the world and driving up demand. Further, Due to the widespread use of rolled steel and aluminum in the automobile industry, demand for rolling oil is increasing at a rapid rate. Growing demands for cold-rolled steel are leading to the growth of the global cold steel rolling oil market, which is positively affecting the need for cold steel rolling oils.

Cold Rolling Oils/Lubricants Market: Restraints

Volatile prices of cold rolling oil limit the market growth

Pricing for cold-rolled steel coils has fluctuated in various nations in an attempt to close the gap between local and import prices. There have been considerable price swings in rolled steel throughout the time period studied, which can be inconvenient for purchasers and end-users. Buyers have been turned off by price increases in rolled steel during pandemics. In the United States, rolled steel prices increased by more than 200 % in 2020. Such unpredictability and volatility operate as a limitation on the rolled steel, restraining the market for rolling oils as a result.

Cold Rolling Oils/Lubricants Market: Opportunities

Increase in R&D activities to foster the market during the forecast period

Cold rolling oil customers in developed economies want oils with good load-bearing capacity, appropriate viscosity, and a low coefficient of friction. Manufacturers have considerably enhanced their responsiveness to such bespoke needs from clients by focusing on R&D and product innovation in the sophisticated production and refining of oils. This trend is projected to acquire momentum throughout the world in the near future, creating enormous opportunities and, in turn, fueling market development. In addition to this, growing funds in the industrial sector, an increase in production of metals like steel & aluminum, growing R&D of synthetic lubricants, varying necessities from diverse cold rolling processes, and increasing technological advancements are some of the key aspects that are predicted to boost the global cold rolling oils/lubricants market during the forecast period.

Cold Rolling Oils/Lubricants Market: Challenges.

Limited crude oil sources pose a challenge for market growth

The majority of industrial oils are generated directly from crude oil or petroleum, therefore supply and pricing variations hurt the cold rolling oils industry. Semi-synthetic oil or pure crude oil refined mineral oil, which are mineral oil with additives, are two common forms of rolling oil. As a result, the rolling lubricants sector is heavily reliant on crude oil. Because crude oil or petroleum is a limited resource, the necessity to move to renewable energy is becoming increasingly apparent. Thus, the limited nature of crude oil is likely to act as a challenge to market growth.

Cold Rolling Oils/Lubricants Market: Segmentation

The global cold rolling oils/lubricants market is divided based on product type, material type, and region. Based on the product type, the global market is categorized into mineral-based, semi-synthetic, and synthetic. The material type segment comprises aluminum, copper, steel, and others.

Report Scope:

Recent Developments

In September 2020, Total Lubrifiants, the world's fourth-largest multinational lubricants corporation acquired Lubrilog SAS. Lubrilog SAS, situated in Romans Sur Isère, is a French firm that specializes in the formulation and manufacture of ultra-high-performance synthetic lubricants.

In July 202, Jintian Ningbo Copper established a third copper cold rolling mill supplied by SMS GROUP successfully.

Cold Rolling Oils/Lubricants Market: Regional Landscape

Asia Pacific to hold the largest market share during the forecast period.

Among the regions, Asia Pacific is estimated to hold the maximum share in the global cold rolling oils/lubricants market during the forecast period. Major factor such as increasing industrialization in economies like China and India is fostering market growth in this region. In addition to this, low manufacturing prices, government incentives, and low labor costs are all driving cold rolling oil shipments in these areas. North America is also estimated to grow at a steady rate. The use of cold rolling oils and lubricants is predicted to increase in this region due to rising industrialization and a fast-developing manufacturing sector. The demand for cold rolling oils in Europe is projected to be influenced significantly by increased industrial activity across the continent.

Cold Rolling Oils/Lubricants Market: Competitive Landscape

Major players operating in the global cold rolling oils/lubricants market include Indian Oil Corporation Ltd., BP plc., Total S.A., Exxon Mobil Corporation, Croda International PLC, ETNA Products Inc., Jiangsu Gaoke Petrochemical Co. Ltd., Houghton International Inc., Hindustan Petroleum Corporation Limited, and Eastern Petroleum Pvt. Ltd., among others.

Global Cold Rolling Oils/Lubricants Market is segmented as follows:

By Type

• Synthetic
• Semi-Synthetic
• Mineral Based

By Material

• Steel
• Copper
• Aluminum
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa