At 7.8% CAGR, the South & Central America Robotics Lubricants Market is projected to be worth US$ 160.72 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America robotics lubricants market was valued at US$ 102.62 million in 2022 and is expected to reach US$ 160.72 million by 2028, registering a CAGR of 7.8% from 2022 to 2028. Penetration of robotics in manufacturing sector and adoption of synthetic oil-based robotics lubricants are the critical factors attributed to the South & Central America robotics lubricants market expansion.               

Robots are capable of performing repetitive and difficult tasks, ensuring high speed and operational efficiency. They are extensively used in the manufacturing sector to boost productivity and economic growth, increase precision levels, lower the risk of contamination, and improve safety. In industrial applications, robotics helps decrease labor costs and ensure increased operational efficiency. Industrial robots are gaining the highest demand from end-use industries such as automotive and electronics original equipment manufacturers. The increase in the use of robots in end-use industries is attributed to the reduction in the average selling price of robots. The growth in the robot market is boosting the demand for high-quality aftercare products. Some automotive companies invest more than 60% of the lubricant budget on robots. Thus, penetration of robots in end-use industries can potentially create lucrative opportunities for the South & Central America robotics lubricants market during the forecast period.  

On the contrary, volatility in prices of raw materials hurdles the growth of South & Central America robotics lubricants market.

Based on base oil, the South & Central America robotics lubricants market is segmented into mineral oil, synthetic oil, and others. The mineral oil segment held 93.9% share of South & Central America Robotics lubricants market in 2022, amassing US$ 96.36 million. It is projected to garner US$ 151.45 million by 2028 to expand at 7.8% CAGR during 2022–2028.

Based on product type, the South & Central America robotics lubricants market is segmented into hydraulic oil, gear oil, and grease. The grease segment held 62.1% share of South & Central America Robotics lubricants market in 2022, amassing US$ 63.68 million. It is projected to garner US$ 99.20 million by 2028 to expand at 7.7% CAGR during 2022–2028.

Based on end use industry, the South & Central America robotics lubricants market is segmented into automotive, food and beverage, medical and healthcare, electrical and electronics, metals, and other manufacturing industries. The automotive segment held 35.4% share of South & Central America Robotics lubricants market in 2022, amassing US$ 36.28 million. It is projected to garner US$ 57.47 million by 2028 to expand at 8.0% CAGR during 2022–2028.  

Based on country, the South & Central America robotics lubricants market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 53.4% share of South & Central America Robotics lubricants market in 2022. It was assessed at US$ 54.81 million in 2022 and is likely to hit US$ 87.12 million by 2028, exhibiting a CAGR of 8.0% during the forecast period.  

Key players profiles in the South & Central America robotics lubricants market report BP Plc, Fuchs Petrolub SE. Idemitsu Kosan Co Ltd, Kluber Lubrication GmbH & Co KG, Miller-Stephenson Inc, Schaeffler Austria GmbH, and Shell Plc, among others.

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