General Industrial Oils and Grease

General Industrial Oils: Mineral Products to Continue Dominance; Synthetics to Lead Growth

The current global demand for general industrial oils (GIO) stands at approximately 6,500 kilotonnes and is projected to exhibit moderate growth over the course of the next five years. With over 50% share in the global consumption, hydraulic fluids are the most consumed GIOs by a wide margin. The share of different GIOs and grease are almost similar across all regions, with some variation in share of individual products. Hydraulic fluids are the most commonly consumed GIO in all regions, followed by gear oils and turbine and circulating oils.Continue reading