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CHEMICALS AND ADVANCED MATERIALS

Mining Lubricants Market Segmentation By Product Type (Bio-based mining lubricant, Synthetic Lubricant, Mineral Oil); By Equipment ( Engine, Hydraulic, Transmission, Gear); By Mining Techniques ( Surface Mining, Underground Mining); By End-Use Industry (Iron ore mining, Coal mining, Bauxite Mining, Rare-earth Mineral Mining and Precious Metal Mining) - Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Mining Lubricants Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Product Overview

The lubricant is an organic substance used to decrease friction and heat generated between the two distinct surfaces in mutual contact during their motion. On industrial scale lubricants are used for numerous other purposes for several applications in end-use industries. Manufacturers have developed advanced groups of lubricants for several end-use industries that are produced using petrochemicals and mineral oils, these kinds of lubricants impact the environment in terms of biodegradability, recyclability and toxicity. Lubricant can lower temperature by reducing heat generated between two contacting or interlocking surfaces. The lubricants have the capability of transmitting particles in a system. Mining lubricants provide substantial viscosity to the machines. There are numerous other properties which can augment the application of mining lubricants such as thermal stability, corrosion prevention, high resistance against oxidation such factors makes the mining lubricants more popular for the mining end users.

Market Size and Forecast

The global mining lubricants market was valued USD 2.1 Bn in 2017, and is anticipated to reach USD 3.16 Bn by 2027. It is expected to expand at a CAGR of 4.8% during 2017-2027. It can be accredited to the fact that lubricants are used in many mining industries as they provide viscosity and also reduce heat between two adjacent surfaces.

The global mining lubricants market can be segmented on the basis of product type, equipment, mining technique and end-use industry. Moreover, based on end-use industry, the mining lubricants market can be divided into iron ore mining, coal mining, bauxite mining, rare-earth mineral mining and precious metal mining. Production of coal ore is more than that of iron ore and other rare earth metals. Hence, the coal mining segment leads the mining lubricants market. High energy consumption and industrial development are expected to foster the global mining lubricants market.

By region, global mining lubricants market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. The Asia Pacific is anticipated to observe for profitable gain in market size owing to rapid industrialization and changing consumer preferences towards lifestyle. Moreover, surging demand for steel for the purpose of urbanization and industrialization in developing economies such as India and China as well as is anticipated to increase the demand for iron ore mining, which will in turn augment the demand for the product in the iron ore extraction areas.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the global mining lubricants market in the following segments:

By Product Type

  • Bio-based mining lubricant
  • Synthetic Lubricant
  • Mineral Oil

By Equipment

  • Engine
  • Hydraulic
  • Transmission
  • Gear

By Mining Techniques

  • Surface Mining
  • Underground Mining

By End-Use Industry

  • Iron ore mining
  • Coal mining
  • Bauxite mining
  • Rare-earth mineral mining
  • Precious metal mining

By Region

Global mining lubricants market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

The global mining lubricants market is expected grow on account of constant rising demand from the mining industries. The mining lubricants market anticipated to gain traction on the basis of increasing mining activities, production and industrialization in developed and developing economies. Consistent maintenance of the mining equipment such as scalar, continuous miner, hydraulic shovel, haul truck, motor grader, etc. is also accountable for providing growth to the market in during the forecast period. Mining lubricants manufacturers are intentionally concentrating to expand their manufacturing volumes to a large extent.

Though there are also some restraining factors such as increasing price and relatively complex manufacturing process are the only factors which can hamper the market growth of mining lubricants during the forecasted period.

Key Players

  • Royal Dutch Shell Plc
  • ExxonMobil Corporation
  • BP Plc.
  • Chevron Corporation
  • Total S.A.
  • LUKOIL
  • Idemitsu Kosan Co., Ltd.
  • Fuchs Petrolub SE
  • PetroChina Company Limited
  • Quaker Chemical Corporation
  • Sinopec Limited
  • Bel-Ray Company, LLC,
  • Whitmore Manufacturing
  • Schaeffer Manufacturing Co Ltd.,
  • Kluber Lubrication

 


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