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Food Grade Lubricants Market Share

Report ID: GMI7234
Published Date: Oct 2023
Report Format: PDF

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Food Grade Lubricants Market Share

Some of the major companies operating in the food grade lubricants industry are:

Exxon Mobil Corporation
Fuchs Petrolub SE
Klüber Lubrication
TotalEnergies
BP PLC
Chevron
Petro-Canada Lubricants Inc.
Ashland Global Holdings
Dow Chemical Company
JAX Inc.
SKF
Illinois Tool Works Inc
Elba Lubrication Inc
CRC Industries
Nye Lubricants

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Exxon Mobil Corporation is the leading player in the food grade lubricants market, accounting for almost 20% of the global revenue share. The company offers a wide range of food grade lubricants for a variety of applications, including food processing, beverage production, and pharmaceutical manufacturing.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of food grade lubricants reached USD 355 million in 2022 and is poised to cross USD 715.9 million by 2032, led by the expansion of the food processing industry, the emphasis on food safety, and the increasing adoption of automation in food manufacturing processes.

The mineral oil segment generated USD 210.9 million in revenue in 2022, due to their cost-effectiveness, wide availability, and well-established performance characteristics.

North American market size was valued at USD 111.9 million in revenue in 2022, driven by the stringent regulatory framework imposed by organizations such as the U.S. FDA and the Canadian Food Inspection Agency (CFIA) in Canada.

The industry includes Exxon Mobil Corporation, Fuchs Petrolub SE, Klüber Lubrication, TotalEnergies, BP PLC, Chevron, Petro-Canada Lubricants Inc., Ashland Global Holdings, Dow Chemical Company, JAX Inc., SKF, Illinois Tool Works Inc, Elba Lubrication Inc, CRC Industries, and Nye Lubricants.