Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 13.29 Billion | USD 17.98 Billion | 5.9% | 2020 |
FrequentlyAsked Questions
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.
According to the Zion Market Research report, the global cold rolling oils/lubricants market size was worth about 13.29 (USD billion) in 2021 and is predicted to grow to around 17.98 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.9 percent.
Among the regions, Asia Pacific is estimated to hold the maximum share in the global cold rolling oil market during the forecast period. Major factor such as increasing industrialization in economies like India and China and India is fostering the 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
Major players operating in the global 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.
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