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2024 U.S. Industry Statistics & Market Forecast - Petroleum Lubricating Oil and Grease Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Petroleum Lubricating Oil and Grease Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Petroleum Lubricating Oil and Grease Manufacturing industry include:- Increasing regulatory pressures on emissions and environmental impact
- Shift towards synthetic lubricants for better performance and efficiency
- Advancements in additive technology to enhance oil properties
- Growth in automotive and industrial sectors driving demand
- Increased adoption of bio-based lubricants due to eco-friendly attributes
- Rise in electric vehicle (EV) penetration impacting traditional lubricant demand
- Globalization and expansion into emerging markets
- Fluctuating crude oil prices affecting raw material costs
- Integration of IoT and smart technologies for production optimization
- Strategic mergers and acquisitions to consolidate market presence
- Emphasis on sustainable packaging solutions
- Enhanced focus on research and development to meet evolving industry requirements
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Petroleum Lubricating Oil and Grease Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Petroleum Lubricating Oil and Grease Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Petroleum Lubricating Oil and Grease Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 8% | Order at top of page |
||
| Chief Executives | % | |||
| General and Operations Managers | % | |||
| Business and Financial Operations Occupations | 6% | |||
| Business Operations Specialists | 5% | |||
| Architecture and Engineering Occupations | 8% | |||
| Engineers | 7% | |||
| Office and Administrative Support Occupations | 6% | |||
| Construction and Extraction Occupations | 7% | |||
| Construction Trades Workers | 6% | |||
| Installation, Maintenance, and Repair Occupations | 8% | |||
| Other Installation, Maintenance, and Repair Occupations | 6% | |||
| Production Occupations | 39% | |||
| Supervisors of Production Workers | 5% | |||
| First-Line Supervisors of Production and Operating Workers | 5% | |||
| First-Line Supervisors of Production and Operating Workers | 5% | |||
| Plant and System Operators | 17% | |||
| Miscellaneous Plant and System Operators | 17% | |||
| Petroleum Pump System Operators, Refinery Operators, and Gaugers | 14% | |||
| Other Production Occupations | 13% | |||
| Crushing, Grinding, Polishing, Mixing, and Blending Workers | 6% | |||
| Mixing and Blending Machine Setters, Operators, and Tenders | 5% | |||
| Transportation and Material Moving Occupations | 9% | |||
| Material Moving Workers | 5% | |||
Petroleum Lubricating Oil and Grease Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Petroleum Lubricating Oil and Grease Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Petroleum Lubricating Oil and Grease Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Petroleum Lubricating Oil and Grease Manufacturing industry. |
Source:
Innovation News
- Dec 15, 2023: Monroe Fluid Technology trademarks "COOL TOOL GREEN" - Lubricating oil being cutting fluids and tapping fluids
- Aug 04, 2023: Scorpion Protective Coatings trademarks "CARBON PLUS" - Tinted plastic film for use on windows; Reflective plastic film for use on windows; Protective plastic film to be applied to automotive vehicle windows; Clear sheets of polymeric film to be applied to automotive vehicles to coat and protect the vehicle's windows
- Jul 28, 2023: Scorpion Protective Coatings trademarks "SCORPION CARBON PLUS" - Tinted plastic film for use on windows; Reflective plastic film for use on windows; Protective plastic film to be applied to automotive vehicle windows; Clear sheets of polymeric film to be applied to automotive vehicles to coat and protect the vehicle's windows
- Apr 06, 2023: Duke Technologies patents Method For Treating Renewable Feedstocks
- Dec 17, 2020: Duke Technologies patents Hydroprocessing Reactor To Lower Pressure Drop And Extend Catalyst Life
- Jul 16, 2020: Duke Technologies patents Pyrolysis Reactor System And Method
Recent Federal Contracts for Petroleum Lubricating Oil and Grease Manufacturing
- Apr 01, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $31,222
- Apr 01, 2024: B & P CONSORT, INC. (Seabeck, WA) awarded $43,155
- Apr 01, 2024: REBEL OIL COMPANY, INCORPORATED (Las Vegas, NV) awarded $65,547
- Mar 29, 2024: ACM ELITE, LLC (Stevensville, MT) awarded $27,200
- Mar 26, 2024: PETROCHOICE HOLDINGS, INC. (King Of Prussia, PA) awarded $20,900
- Mar 25, 2024: BROCO OIL INC (Haverhill, MA) awarded $237,997
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