The agricultural lubricant market is projected to grow from USD 6.3 billion in 2023 to USD 7.7 billion by 2028, at a CAGR of 3.9% during the forecast period. The primary function of agricultural lubricant is to reduce mechanical wear, prevent corrosion, and enhance the longevity of machinery. Agricultural lubricants are used in the agriculture industry to maintain and protect various types of machinery and equipment.
Agricultural Lubricant Companies
Companies such as Shell PLC (UK), Exxon Mobil Corporation (US),TotalEnergies (France),BP p.l.c (UK) ,Chevron Corporation (US) ,Phillips 66 (US) , FUCHS (Germany), Sinopec Lubricant Company (Singapore) fall under the winners’ category. These are leading players in the Agricultural lubricant market globally. These players have adopted the strategies of acquisitions, expansions, partnerships, and investments to increase their market shares.
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Shell PLC.
Shell PLC, a prominent global energy and petrochemical company, has five major segments: integrated gas, renewable energy solutions, marketing & refining products, chemicals, and corporate. Notably, Shell’s marketing & refining branch offers agricultural lubricants designed specifically for tractors, harvesters, and other farm equipment. These lubricants, including heavy-duty engine oils, hydraulic fluids, and gearbox oils, extend machinery life while reducing maintenance costs and emissions.
Shell’s impressive infrastructure comprises 4 base oil production facilities, 33 lubricant blending plants, 8 grease plants, and 6 GTL base oil storage hubs. This network allows them to deliver over 90 barrels of lubricants daily across 100 countries worldwide, spanning Europe, the Americas, the Middle East & Africa, and Asia Pacific.
Exxon Mobil Corporation
Exxon Mobil Corporation, a major player in the global oil and gas industry, is actively involved in the exploration and production of crude oil and natural gas, as well as the manufacturing of petroleum products, petrochemicals, and various specialty items. With a commitment to lower emissions, Exxon Mobil focuses on business opportunities in carbon capture and storage, hydrogen, and biofuels. Its product portfolio, marketed under brands like Exxsol, Exxon, Mobil, and Esso, is organized into four segments: upstream, energy products, chemical products, and specialty products.
In the downstream segment, which encompasses petroleum products, Exxon Mobil operates an extensive network of manufacturing plants, transportation systems, and distribution centers globally. This segment includes the management of agricultural lubricants. The company’s lubricant blending plants, spanning 25 countries across all regions, consist of six base stock refineries and 21 blending plants. Exxon Mobil provides high-quality Mobil Delvac lubricants, meeting the standards set by the German Agricultural Society (DLG). The company has a strong global presence, serving markets in Europe, North America, the Middle East & Africa, and the Asia Pacific region.
TotalEnergies
Total Energies, a multinational integrated oil and gas company and one of the world’s six supermajor oil companies, operates across the entire oil and gas supply chain. The company engages in petroleum refining, marketing of petroleum products, and has four key business segments: refining & chemicals, marketing & services, exploration & production, and integrated gas, renewables & power. Under the marketing & services segment, Total Energies handles the global supply and marketing of oil products, low-carbon fuels, and new energies for mobility.
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Total Energies manufactures and markets agricultural lubricants through its dedicated TotalEnergies Lubricants division. Their Agri-range portfolio includes lubricants for various agricultural applications such as engines, transmissions (UTTO and axles), home farming/gardening, chainsaws, milking machines, coolants, hydraulic fluids, and greases. The company maintains a global presence with production and manufacturing plants situated in over 100 countries across North America, South America, the Middle East & Africa, Europe, and Asia Pacific.
BP p.l.c
BP p.l.c., a prominent global player in the energy sector, conducts its business through four main operating segments: gas & low carbon energy, oil production & operations, customers & products, and other businesses & corporate. Within the customers & products segment, the company manages various aspects, including fuels retail, aviation, electrification, midstream operations, and the distribution of Castrol lubricants. This segment also encompasses oil products businesses, refining & trading, as well as other corporate functions such as shipping and treasury.
BP oversees its agricultural lubricants business through the customers & products segment and delivers these products through its subsidiary, Castrol Limited, acquired in 2002. Castrol Limited boasts a range of brands, including Castrol ON, Castrol EDGE, Castrol GTX, Castrol MAGNATEC, Castrol POWER1, Castrol Activ, Castrol CRB, and Castrol VECTON. The company strategically focuses on three key areas: resilient hydrocarbons, convenience and mobility, and low carbon energy. BP operates globally, with a presence in Europe, the Middle East, Asia Pacific, the Americas, and Africa.
Chevron Corporation.
Chevron Corporation stands as a prominent integrated energy company engaged in the production of crude oil and natural gas, along with the manufacturing of transportation fuels, lubricants, petrochemicals, and additives. The company operates through three main business segments: downstream, upstream, and others. In the downstream segment, Chevron provides lubricants under the Ursa, Delo, and Starplex brands. This segment also includes a range of products derived from crude oil, such as gasoline, diesel, jet fuel, fuel oil, fuel and lubricant additives, renewable fuels, and petrochemicals.
Chevron Corporation has a global presence, actively operating in the Americas, Africa, Asia, Australia/Oceania, and Europe. The company’s refineries are strategically located in the Asia Pacific and North America regions. Additionally, Chevron collaborates in the joint venture GS Caltex Corporation with GS Energy of South Korea, engaging in the import, refining, and sale of petroleum products, petrochemicals, and lubricants.
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Phillips 66
Phillips 66 is an energy manufacturing and logistics company. The company operates through midstream, chemicals, refining, marketing, and specialties businesses. It offers lubricants in the marketing and specialties segments. Phillip 66 owns 27 refining and lubricant production facilities. Lubricants are marketed under Phillips 66, Kendall, Red Line, and other private label brands. It is the third-largest lubricant manufacturer in the US. The company also markets Group III Ultra-S base oils through an agreement with South Korea’s S-Oil Corporation. With ownership of 27 refining and lubricant production facilities, Phillips 66 is a major player in the lubricant industry. Furthermore, the company holds a joint venture, Excel Para lubes LLC, which operates a hydrocracked lubricant base oil manufacturing plant with a substantial capacity of 2627.21 kt, specializing in high-quality Group II clear hydrocracked base oils.
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