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According to a report ,“Mining Lubricants Market Analysis By Type (Mineral Oil, Synthetic & Bio-Based Lubricants), By Application (Coal Mining, Iron Ore Mining, Bauxite Mining, Precious Metal Mining), By Region & Segment Forecasts, 2018 – 2025″ published by Grand View Research, Inc., The global mining lubricants market is expected to attain USD 3.09 billion by 2025. The market is expected to witness a CAGR of 4.6% over the forecast period, owing to rising demand for mining lubricants as it helps in reducing the downtime due to frequent oil changes, maintenance and components failures as well as economizing high cost of equipmentwill propel industry expansion over the forecast period.

Key Takeaways from the report:

• Mineral oil lubricant is likely to witness significant rise at a CAGR of 3.8% from 2017 to 2025 as a result of their hydrophilic properties and solvency. Moreover, these lubricants are obtained from the distillation of crude, which are quick to dispose and reuse on account of an existing infrastructure in place.

• Asia Pacific was the dominant market and accounted for 43.54% of the overall share in 2016. Iron is the most widely used refractory metals, its demand in developing nations like India and China is fueling the demand for iron ore mining, which in turn is anticipated to augment the demand for the product in Asia Pacific.

• Countries including Germany and japan are switching to coal consumption on account of phasing out of nuclear power in Germany while the occurrence of Fukushima accident in Japan, thus driving the demand for product over the forecast period.

• Key participants dominating the industry includes Shell PLC., British Petroleum., ExxonMobil Corp., Sinopec, Lukoil, Chevron Corp., Schaeffer Manufacturing Company, Fuchs Petrolub SE, Kluber Lubrication, and Quaker Chemical Corporation.

• Product differentiation along with threat of forward integration by manufacturers to distribute mining lubricants and to capture market share is anticipated to result in high industry rivalry in the product’s market over the forecast period. In addition, possible entry of new players is further expected to intensify rivalry in the industry.

• In January 2014, Idemitsu began sale of lubricant products in Vietnam, following completion of its lubricant blending plant in December 2013.

• In January 2015, Whitmore Manufacturing Company partnered with Gulf Oil Lubricants India Limited, which will exclusively launch Whitmore Lubricants in Indian Market. This move will widen the product offering to the sectors including mining, minerals and metals, construction, power and cement for both the companies.

U.S. mining lubricants market volume by product, 2014 – 2025 (Kilo tons)

Browse More Reports in Bulk Chemicals Industry:

• Compressor Oil Market :  Growing industrial sector in the Middle East and Asia Pacific is anticipated to drive the demand for compressor oils over the forecast period.

• Polyols Market  :  Polyols are witnessing an increase in demand owing to their growing application scope in important end-use industries such as automotive, furniture and bedding, building and construction, pharmaceutical, and packaging.

Global mining lubricants revenue share by application, 2016 (%)

Growth of drilling and exploration activities on a global level, as well as increased demand for mining equipment has a direct and positive impact on mining lubricants demand. In addition, Stringent regulations imposed by government bodies towards environment protection are anticipated to augment the demand for bio-based lubricants.

Automatic lubrication systems provide an exact amount of lubricants including oil or grease to moving parts such as bearings to reduce friction and wear. The market for automatic lubrication systems is anticipated to fuel the demand for mining lubricants as the companies are taking various initiatives to increase their presence in the market owning to better labelling and appropriate specifications of their synthetic lubricants.

Iron ore mining accounted for 23.5% of the overall share in 2016 and is likely to witness substantial growth as a result of increased demand for steel in developing nations mainly China and India as well as dependence on steel for construction and transportation purposes.

Grand View Research has segmented the global polyols market on the basis of product, application, and region:

Polyol Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

• Polyether

• Polyester

Polyol Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

• Rigid Foam

• Flexible Foam

• Coatings

• Adhesives & Sealants

• Elastomers

• Others

Polyol Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

• Saudi Arabia

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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/

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