Dry Lubricants Market size is poised to reach USD 4 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of dry lubricants was USD 2 Billion. The reason behind the growth is impelled by the growing spending in the construction industry across the globe. Growth in the overall output of construction is mostly driven by investment in the energy and utility sectors as well as in infrastructure, and the rise in demand for infrastructure, commercial buildings, and housing.
For instance, construction spending is predicted to reach over USD 17 trillion globally by 2030, with the US, China, and India leading the way and contributing around 55% of the growth in this sector.
The growing focus on sustainability is believed to fuel the dry lubricants market growth. There's an added benefit of reduced friction when using a dry lubricants since it translates into fewer products that collapse which aids in conserving energy, which is a primary objective of sustainability.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~5% |
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Base Year Market Size (2023) |
~ USD 2 Billion |
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Forecast Year Market Size (2036) |
~ USD 4 Billion |
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Regional Scope |
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Application (Oil & Gas, Steel, Mining& Mineral Processing, Automobile, Petrochemical, Food Processing Transcription, Waste Water, Aerospace & Defense)
The automobile segment in the dry lubricants market is estimated to gain a robust revenue share of 45% in the coming years owing to the growing production of vehicles driven by economic, technological, social, and environmental factors. Vehicles provide mobility, especially in urban areas, and an increase in dual-income households, and a desire for convenience. For instance, more than 85 million motor vehicles were produced globally in 2022, a 5% increase from 2021.
Dry lubricants, which are essentially solid in their solid state, shield car engine gaskets from fretting and corrosion and are employed in transmissions, brake systems, and even as coatings to lessen wear on specific engine parts. Recent research has demonstrated that dry-film lubricants provide superior lubrication conditions than liquid lubricants based on oil which makes it essential in the automotive sector to achieve a high-quality forming behavior. Moreover, dry lubricants are ideal for automotive applications where conditions might be tough as they can withstand extreme temperature variations as well and are employed in tie rod ends, brake calipers, fluid delivery tubes, and fasteners.
Type (Graphite, Molybdenum Disulfide, Boron Nitride, PTFE, Soft-metal Solid Lubricants)
The graphite segment in the dry lubricants market is set to garner a notable share shortly owing to the growing production of graphite. Amorphous carbon compounds are processed at high temperatures to create the synthetic material known as graphite, which is a commonly used industrial material used as a recarburizer to increase the carbon content while steel is being produced. Graphite finds application in pencils, lubricants, crucibles, polishes, arc lights, batteries, and electric motor brushes, and is often employed in batteries to increase electrical conductivity while maintaining stability and chemical inertness against corrosion. Graphene, the component of graphite, has excellent lubricating qualities and is hydrophobic owing to the weak van der Waals forces between the layers.
Graphite lubricants are "dry" lubricants that function in oxidizing conditions and high temperatures, whereas liquid lubricants often break down quickly, They are perfect for routine maintenance since they adhere quickly to most substrates, including metal, rubber, and plastic, to create a barrier that repels debris and lubricates the surface while shielding it from pressure and friction.
For instance, China accounted for more than 60% of global graphite production in 2022, making it the top producer in the world. Particularly, the last five years saw around a 50% increase in the global demand for graphite, and the following five years are predicted to see over 65% increase.
Our in-depth analysis of the global dry lubricants market includes the following segments:
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Application |
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Type |
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APAC Market Forecast
The dry lubricants market in the Asia Pacific is predicted to largest share of 40% by 2036 impelled by the growing industrial activities. The concentration of economic activity in urban areas owing to rapid urbanization is a major contributing factor to the rise of the industrial products sector in the Indian economy. According to estimates, India's industrial production increased from around 2% in November 2023 to over 3% in December 2023.
In addition, India's manufacturing sector is expanding quickly, and the country has a huge chance to grow its export portion of manufactured goods worldwide. For instance, in 2023, the manufacturing industry experienced an annual production growth rate of more than 4%.
North American Market Statistics
The North America dry lubricants market is estimated to be the second largest, during the forecast period led by the growing automotive industry. There is no denying the auto industry's significance to the US economy, which is now the importer of automobile-related goods to more nations. For instance, the US automotive industry was projected to be valued at around USD 1514 billion in 2022.
Author Credits: Smruti Ranjan, Rajrani Baghel
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