With the intention of improving process efficiency and product quality, Design of Experiments (DoE) is often applied in industry as a tool for engineers in planning experiments and product design. One of the methods in DoE is the Taguchi method that provides a practical procedure to design experiments with an appropriate number of tests for identifying optimal parametric settings of products. The purpose of this study is to investigate how Design of Experiments, specifically the Taguchi method, can be applied to analyze the performance of the lubricants used to stainless fasteners which are common products in various industries. The study has been implemented at the case company which manufactures stainless fasteners. Combining with qualitative and quantitative methods, this thesis work started from reviewing the previous research on DoE, the Taguchi method and various analysis tools as well as information on lubricants. Experiments were designed based on observations, interview, and literature collection. The actual tests were carried out on the case company's wax process where lubricants with different levels for the respective parameters were applied to screws and nuts. The fasteners were tested in a friction machine and UV lamp at the case company. The implemented experiments and data analysis have demonstrated which levels for each parameter of the lubricant resulted in the least friction. The parameters considered in the experiments are mixing ratio, number of dips and time in dips, which have varying degrees of influence on friction. The outcomes contribute to improved process efficiency and product quality within the steel industry and similar sectors. The visualization of the lubricant by UV lamp confirmed that the coating varied according to the levels of the parameters. The theoretical contribution can facilitate further research while the practical contribution provides an approach for experiments in quality improvement on lubricants. The thesis work has also identified the need for further research into the drying process after lubricant application and the use of UV lamp to improve control of lubricant smoothness.