Nigeria Industrial Lubricants Market Size & Outlook

The industrial lubricants market in Nigeria is expected to reach a projected revenue of US$ 403.7 million by 2030. A compound annual growth rate of 2.4% is expected of Nigeria industrial lubricants market from 2023 to 2030.

Revenue, 2022 (US$M)
$333.6
Forecast, 2030 (US$M)
$403.7
CAGR, 2023 - 2030
2.4%
Report Coverage
Nigeria

Nigeria industrial lubricants market, 2018-2030 (US$M)

Nigeria

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Nigeria industrial lubricants market highlights

  • The Nigeria industrial lubricants market generated a revenue of USD 333.6 million in 2022 and is expected to reach USD 403.7 million by 2030.
  • The Nigeria market is expected to grow at a CAGR of 2.4% from 2023 to 2030.
  • In terms of segment, process oils was the largest revenue generating product in 2022.
  • Industrial Engine Oils is the most lucrative product segment registering the fastest growth during the forecast period.

Industrial lubricants market data book summary

Market revenue in 2022USD 333.6 million
Market revenue in 2030USD 403.7 million
Growth rate2.4% (CAGR from 2022 to 2030)
Largest segmentProcess oils
Fastest growing segmentIndustrial Engine Oils
Historical data2018 - 2021
Base year2022
Forecast period2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationProcess Oils, General Industrial Oils, Metalworking Fluids, Industrial Engine Oils, Greases
Key market players worldwideExxon Mobil Corp, The Lubrizol Corp, Shell PLC, Chevron Corp, Clariant AG, Quaker Houghton, Valvoline Inc, BP Castrol KK, Petronas Chemicals Group Bhd, Calumet Specialty Products Partners LP, Idemitsu Kosan Co Ltd, Yushiro Chemical Industry, Fuchs SE ADR (Representing Pref. Shares), Phillips 66, Lucas Oil, AMSOIL, Bel-Ray Company, Kluber Lubrication Munchen SE & Co. KG, Blaser Swisslube

Other key industry trends

  • In terms of revenue, Nigeria accounted for 0.6% of the global industrial lubricants market in 2022.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In Middle East & Africa, Saudi Arabia industrial lubricants market is projected to lead the regional market in terms of revenue in 2030.
  • Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,130.3 million by 2030.

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Industrial Lubricants Market Scope

Industrial lubricants market segmentation & scope
Gas turbine oils
Piston engine oils
Hydraulic fluids
Others
Process Oils
General Industrial Oils
Metalworking Fluids
Industrial Engine Oils
Greases
Engine oil
Hydraulic oil
Gear oil
Turbine oil
Transmission Fluids
Brake Fluids
Coolants

Industrial Lubricants Market Companies

Name Profile # Employees HQ Website

Nigeria industrial lubricants market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial lubricants market will help companies and investors design strategic landscapes.


Process oils was the largest segment with a revenue share of 30.79% in 2022. Horizon Databook has segmented the Nigeria industrial lubricants market based on process oils, general industrial oils, metalworking fluids, industrial engine oils, greases covering the revenue growth of each sub-segment from 2018 to 2030.


  • Nigeria Industrial Lubricants Product Outlook (Revenue, USD Million, 2018-2030)
    • Gas turbine oils
    • Piston engine oils
    • Hydraulic fluids
    • Others
    • Process Oils
    • General Industrial Oils
    • Metalworking Fluids
    • Industrial Engine Oils
    • Greases
    • Engine oil
    • Hydraulic oil
    • Gear oil
    • Turbine oil
    • Transmission Fluids
    • Brake Fluids
    • Coolants

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Target buyers of Nigeria industrial lubricants market databook

  • Our clientele includes a mix of industrial lubricants market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.

Horizon Databook provides a detailed overview of country-level data and insights on the Nigeria industrial lubricants market , including forecasts for subscribers. This country databook contains high-level insights into Nigeria industrial lubricants market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Nigeria industrial lubricants market size, by product, 2018-2030 (US$M)

Nigeria Industrial Lubricants Market Outlook Share, 2022 & 2030 (US$M)

Nigeria industrial lubricants market size, by product, 2018-2030 (US$M)

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