Robotics Lubricants Market Size Report and Global Industry Analysis by 2028

[Research Report] The robotics lubricants market size is expected to grow from US$ 3,413.72 million in 2022 to US$ 6,095.41 million by 2028; it is estimated to register a CAGR of 10.1% from 2022 to 2028.

MARKET ANALYSIS

Lubricants are used to reduce friction between surfaces and the heat generated, increasing the life of the surfaces involved. Industrial robots are involved in material handling, assembly, and dispensing, due to which they become exposed to the effects of wear and corrosion. Lubricants for robotics are developed to help decrease the downtime of industrial robots and positively impact quality, costs, and efficiency of the manufacturing process. Lubricants consist of a variety of fluids to withstand extreme conditions. Grease is a widely used lubricant for robotics operations.

GROWTH DRIVERS AND CHALLENGES

The growing demand for robotics lubricants in the end use industries has aided the robotics lubricants market growth. In the manufacturing sector, a robotics lubricant is one of the key components that help an equipment operate with maximum reliability and at peak efficiency. Greases, hydraulic oils, and gear oils are used across several end-use industries, including automotive, electrical & electronics, food & beverages, logistics, and metal & machinery fabrication. Robotic grease contains base oil such as mineral oil or synthetic oil, thickener, and additives, which impart distinct product qualities. Greases possess several properties such as sealing ability, low leakage tendency, protection against corrosion, and heavy load handling. Several commercially available robot greases are food grade and comply with certain international standards for specific industries such as food & beverages and medical & healthcare. Grease degrades due to friction and exposure to extreme temperatures till its viscosity levels are insufficient to effectively lubricate the internal mechanical components. Robot greasing is an integral part of maintaining the overall efficiency of robots and robotic components. The recommended frequency for robot greasing varies by brand and model. Thus, the advantages of greases over other lubricants and the preference for robot greases from end-use industries are driving the robotics lubricants market. However, fluctuations in global economic conditions led to an increase in the costs of additives, base stocks, transportation, and manufacturing. Several manufacturers witnessed inflationary pressure as well as lubricant additives supply across the lubricant supply chain. In 2022, base oil prices in the US increased from US$ 2 per gallon to US$ 5 per gallon. Moreover, in 2022, FUCHS Lubricants Co announced a price hike of 8–12% for its lubricant additive portfolio, which was implemented from October 2022. Further, in 2022, Ergon Inc increased the prices of naphthenic base oil. However, in 2023, Chevron Corporation announced a US$ 0.20 to US$ 0.50 decrease in base oil price. Thus, fluctuation in prices of raw materials is restraining the robotics lubricants market growth.

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Robotics Lubricants Market: Strategic Insights

Robotics Lubricants Market

• 
  CAGR (2022 - 2028)

  10.1%
• Market Size 2022
  US$ 3.41 Billion
• Market Size 2028
  US$ 6.1 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing demand for robotics lubricants from automotive industry
• Rising preference for robot greases in end use industries

FUTURE TRENDS

• Adoption of synthetic oil-based robotics lubricants

OPPORTUNITIES

• Penetration of robotics in end- use industries

Key Players

• Miller-Stephenson Inc
• Shell International BV
• Fuchs Petrolub SE
• BP Plc
• Idemitsu Kosan Co Ltd
• Chemie-Technik GmbH
• Anand Engineer Pvt Ltd
• Kluber Lubrication GmbH & Co KG
• Schaeffler Austria GmbH

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Base Oil

• Mineral Oil
• Synthetic Oil
• Others

Product Type

• Hydraulic Oil
• Gear Oil
• Grease

End Use Industry

• Automotive
• Food and Beverage
• Medical and Healthcare
• Electrical and Electronics
• Metals
• Other Manufacturing Industries

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REPORT SEGMENTATION AND SCOPE

The "Global Robotics Lubricants Market Analysis to 2028" is a specialized and in-depth study with a major focus on the global robotics lubricants market trends and growth opportunities. The report aims to provide an overview of the global robotics lubricants market with detailed market segmentation by base oil, product type, end use industry, and geography. The global robotics lubricants market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of robotics lubricants worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the robotics lubricants market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the robotics lubricants market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative robotics lubricants market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global robotics lubricants market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global robotics lubricants market is segmented on the basis of base oil, product type, and end use industry. Based on base oil, the robotics lubricants market is segmented as mineral oil, synthetic, and others. Based on product type, the market is classified as hydraulic oil, gear oil, and grease. Based on end use industry, the market is classified as automotive, food and beverage, medical and healthcare, electrical and electronics, metals, and other manufacturing industries.

Based on mineral oil, the mineral oil accounted for a significant robotics lubricants market share. Many lubricant manufacturers provide multi-purpose lubricants for applications in robotic gear components, chains, bearings, and threaded connections. Castrol Ltd offers mineral-based gear oils, including Optigear ALR 320, Optigear BM 100, and Alpha SP 320, for all or selective robotic axial applications. On the basis of product type grease segment led the robotics lubricants market with a largest market share. Based on end use industry automotive accounted for a major robotics lubricants market share.  The electrical and electronics segment is expected to register the fastest CAGR during the forecast period.

REGIONAL ANALYSIS

The report provides a detailed overview of the global robotics lubricants market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific accounted for a significant share of the market and valued at more than US$ 1.9 billion in 2022. Asia Pacific region is a prominent market for robotics lubricants owing to growth in the automotive and electronics sectors and a rise in industrialization, leading to increased demand from manufacturing sector. Europe is also expected to witness considerable growth reaching over US$ 1.2 billion in 2028, attributed to the increasing utilization of robotics lubricants in electrical and electronics industry. The North America is expected to grow at CAGR of around 9% from 2022 to 2028.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global robotics lubricants market.

In April 2023, FUCHS company launched ‘RENOLIT ROBO-G 0’ – a grease for robot lubrication. It is a semi-liquid extreme pressure (EP) grease based on lithium complex soap and mineral oil. The product is intended for application in precision gears such as industrial robots, machine tools and round tables.

Robotics Lubricants Market Report Scope

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IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the robotics lubricants market.

Before the COVID-19 outbreak, the robotics lubricants market was mainly driven by the rising demand from automotive and electronics industries. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. Such factors reduced the production of robotics lubricants.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the robotics lubricants market include, Miller-Stephenson Inc, Shell International BV, Fuchs, Petrolub SE, BP Plc, Idemitsu Kosan Co Ltd, Chemie-Technik GmbH, Anand Engineer Pvt Ltd, Kluber Lubrication GmbH & Co KG, and Schaeffler Austria GmbHamong others.