A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Industrial
Lubricants Market.
The study, titled “Industrial
Lubricants Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2017 - 2025”,
is available for sale on the firm’s website.
A
lubricant is an organic material used to reduce friction between two
parts mutually connected to each other. In industrial applications
which use huge machines, lubricants play a vital role in reducing
friction between components moving at high speeds, thereby minimizing
the heat generated, avoiding losses, and reducing wear & tear.
They aid maintenance, ensure safety at the workplace by preventing
accidents caused by possible leaks & spills, help avoid energy
losses, and increase productivity & efficiency. Gear oil, motor
oil, hydraulic oil, synthetic lubricants, and grease are commonly
used industrial lubricants and find application at almost every site
which uses machinery. Typical examples include air compressors, gas
engines, gears, bearings, hydraulics, and turbines. Industrial
segments which utilize these lubricants include power generation,
food & beverages, oil & gas, and manufacturing.
Browse
Market Research Report @
Industrial
lubricants help maintain the efficiency of a machine and ensures
reliability. Rapid industrialization, need for infrastructural
development & automation, and the plummeting oil prices are key
drivers of the expanding industrial lubricants market. Most of these
lubricants are products composed of mineral oil which is
non-biodegradable, highly eco-toxic, and poses a threat to the
environment as well as human life. Thus, use of lubricants leads to
pollution and greenhouse gas emissions through spills, leakages, or
accidents. Stringent environmental considerations, laws, and norms
therefore pose a threat to their usage. This, along with the need for
efficiency-enhancing lubricants, gives rise to demand for substitutes
providing higher efficiency as well as eco-friendly properties.
Bio-degradable lubricants sourced out of eco-friendly fuels and food
grade lubricants are recent developments in the industry. Given the
stringent environmental policies, bio-degradable lubricants are
expected to substitute existing lubricants on a large scale in the
near future.
Based
on end-use industry, the market for industrial lubricants can be
segmented into the following categories: power generation, food,
manufacturing, automobiles, and oil & gas. Rising demand for
automobiles is anticipated to drive the lubricants market during the
forecast period. On the basis of application, the market for
industrial lubricants can be divided into the following segments:
gear lubricants, hydraulic lubricants, compressor lubricants, and
others.
In
terms of the type of source, the market can be split into the
following groups: mineral oil, bio-based oil, and synthetic oil. At
present, the market is dominated by the use of lubricants
manufactured from mineral oil which are likely to dominate the market
during the forecast period. However, bio-based and eco-friendly
lubricants are anticipated to exhibit a significant CAGR due to the
rising health hazards caused by environmental pollution, awareness
about environmental factors, and stringent government norms.
Geographically,
the market can be distributed over Asia Pacific, Europe, Latin
America, North America, and Middle East & Africa. Asia Pacific is
projected to be a highly attractive market as compared to other
regions, owing to its industrial growth, massive automotive sector,
rapid development, and the need for infrastructure in the region’s
developing nations.
Key
players in the market include Shell, ExxonMobil, Chevron Corporation,
Total, and BP.
The
industrial lubricants market is predicted to be attractive with
chances of significant growth during the forecast period, especially
in the bio-based & eco-friendly lubricants segment and Asia
Pacific, with the automotive industry acting as a major contributor.
Industrial growth, infrastructural development, need for automation,
and stringent pollution control norms & regulations are estimated
to be key propellants of this market.
Get
accurate market forecast and analysis on the Industrial Lubricants
market. Request a sample to stay abreast on the key trends impacting
this market@
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
The
study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The
regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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Us
Transparency
Market Research (TMR) is a market intelligence company, providing
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of quantitative forecasting and trends analysis provides
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and analyze information.
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data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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