Agricultural Lubricant Market Size Analysis and Top Companies
The global agricultural lubricant market size is estimated to hit around USD 9.35 billion by 2033, increasing from USD 6.35 billion in 2023 with a CAGR of 3.94% from 2024 to 2033. The top companies in agricultural lubricant market are ExxonMobil Corporation, Quaker Chemical Corporation, Fuchs Petrolub SE, BP plc, TotalEnergies SE, Apar Industries Ltd., Calumet Specialty Products Partners, L.P., Chevron Corporation, China Petroleum and Chemical Corp (Sinopec Corporation), Repsol SA, Philips 66, Raj Petro Specialities Pvt. Ltd, Nynas AB, Valvoline, Inc, Shell plc., Savita Oil Technologies Ltd., and Others.
Market Report Coverage
| Report Attributes |
Details |
| Market Size by 2033 |
USD 9.35 Billion |
| Market Size in 2023 |
USD 6.35 Billion |
| Market Growth Rate from 2023 to 2033 |
CAGR of 3.94% |
| Largest Market |
Asia Pacific |
| Base Year |
2023 |
| Forecast Period |
2023 to 2033 |
| Segments Covered |
Product Type, Category Type, Sales Channel, Farm Equipment, and Regions |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East, and Africa |
Agricultural Lubricant Key Players
- ExxonMobil Corporation
- Quaker Chemical Corporation
- Fuchs Petrolub SE
- BP plc
- TotalEnergies SE
- Apar Industries Ltd.
- Calumet Specialty Products Partners, L.P.
- Chevron Corporation
- China Petroleum and Chemical Corp (Sinopec Corporation)
- Repsol SA
- Philips 66
- Raj Petro Specialities Pvt. Ltd
- Nynas AB
- Valvoline, Inc
- Shell plc.
- Savita Oil Technologies Ltd.
Latest Key Player Announcement
- In September 2024, Jeff Rowe, the CEO of Syngenta Group, called on the Indian government to accelerate regulatory approvals for new agricultural products to assist farmers. Rowe underscored the effects of climate change on farming, stressing the necessity for quicker access to innovative solutions. Syngenta is making significant investments in digital technology and crop modeling to assist farmers in adapting, intending to introduce 40 new crop protection products in the upcoming years.
Recent Developments
- In September 2024, Maxol Lubricants, a division of the Maxol Group, unveiled the new Agri-Max Plus Grease range of greases to address the growing complexity of the farmer’s world.
- In March 2023, Exxon Mobil Corporation revealed that it had spent about USD 110 million to establish a Lubricant manufacturing plant at the Maharashtra Industrial Development Corporation in the Isambe industrial area in Raigad, India.
- In March 2022, Morris Lubricants unveiled a new generation product range of multifunctional hi-performance lubricants that are capable to cater almost all agricultural needs. These lubricants were used for engines, gearboxes, and hydraulic and oil-immersed brake systems in a variety of agricultural machinery.
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