Mining Lubricants Market Value to Reach US$ 3 Bn in 2029
The global mining lubricants market is set to follow a moderate growth trail amidst fluctuations in raw material pricing as well as resurgence of the mining sector. As the preference for high-performance lubricants including hydraulic fluids and process oil continues to gain ground across various end-use industries, the worldwide consumption of mining lubricants will near a value of US$ 3 Bn by 2029 end. This FMI study projects 1.4X growth in the revenues of global mining lubricants market during the opportune time 2019-2029.
Frequently asked questions about global mining lubricants market
What are the future projections for the mining lubricants market?
The global mining lubricants market is expected to gain traction over the forecast period on account of increasing mining activities in countries such as China, India, and Brazil. Substantial growth in the mining lubricants market is mainly backed by coal mining, which accounts for more than half of the total consumption of mining lubricants, closely followed by iron ore mining.
Will regulatory enforcements and product standardization affect the future growth of the mining lubricants market?
Yes, regulatory enforcements can affect future growth of the mining lubricants market. Product standardization acts as criteria for lubricant manufacturers to enter European and North American market which can restrict its growth. Product standardization also increases the research and development cost for lubricant manufacturers. Moreover, increasing regulations may hinder the demand for synthetic lubricants; however, these are expected to promote the use of bio-based lubricants.
Which application area holds potential growth opportunities for market players?
The coal mining segment holds a prominent share and is the major driving factor for the global mining lubricants market. Coal has high demand in countries such as China and India for energy production. In China, government is taking initiative to reduce the use of coal in energy production; however, coal is expected to hold significant share on account of lack of supply of substitute materials.
What is the degree of competition in the mining lubricants market?
The mining lubricants market shows a moderately consolidated structure, with a large number of regional and local market players. In the current scenario, industry leaders such as Royal Dutch Shell plc, ExxonMobil Corporation, Total S.A., BP plc, PetroChina Company Limited, PETRONAS, FUCHS, Chevron Corporation, Lukoil Company, and Kluber Lubrication account for 45-50% of the total revenue share.
Which region will lead the global sales of mining lubricants?
East Asia is expected to lead the global sales of mining lubricants, mainly backed by demand for coal and iron ore from industries in China. Further, increasing demand for industrial minerals is expected to fuel growth of mining lubricants in the region.
Adoption in Coal Mining to Remain Prominent
In view of rising coal production, especially in developing regions, mining lubricant manufacturers continue to reap significant profits from coal mining applications. Used in various components of coal crawler excavators, and other equipment, adoption of mining lubricants in this application area accounts for nearly 3/5th share of overall demand. Demand from iron ore mining activities is also increasing moderately, where consumption of mining lubricants depends on the type of iron ore to be extracted. Moreover, by 2024 end, sales of mining lubricants in the iron ore mining sector are poised to underpin revenues worth US$ 500 Mn.
East Asia - Epicenter of Growth Opportunities
East Asia will remain in the vanguard of the mining lubricants market through 2029, carving out a major slice of total revenues. Surging mining production as well as investment upheaval in mining exploration, particularly in China, would be the key factor driving the market growth in the region. Strong presence of local manufacturers and suppliers is again compelling stakeholders to maintain their focus on East Asia. Furthermore, adoption of mining lubricants in East Asia is anticipated to surpass the US$ 1 Bn mark during the latter half of the forecast period.
* This data is only a representation. Actual data may vary and will be available in report.
Bio-based Alternatives to Shape Future Outlook
Influenced by the sustainability trend, manufacturers are accelerating their shift towards bio-based mining lubricants, which ensure low toxic and cleaner work environment compared to conventional petroleum-based versions. Additionally, these eco-friendly mining lubricants are decomposable, thus, avoid soil contamination due to leakages in hydraulic systems, engines, and brake lines. Further, price volatilities in crude oil and petroleum liquid feedstock due to trade conflicts are compelling manufacturers to turn to alternative materials. This preferential shift is expected to play an instrumental role in the global growth of mining lubricants market.
Oils continue to see substantial adoption
Demand for grease on a steady rise
Synthetic mining lubricants account for a voluminous share
Bio-based mining lubricants to gain traction
Maximum adoption in coal mining
Increasing application in iron ore mining
How Growth will Unfold
Considered suitable for heavy-duty applications and extreme conditions, synthetic mining lubricants continue to push the global revenues over the next decade. As synthetic lubricants capture over 90% share, market players would reap lucrative returns from the product category. Bio-based mining lubricants, on the other hand, are likely to see notable rise in their production attributable to their ecofriendly quotient. As sustainable norms are becoming hard and fast, bio-based mining lubricants would see upheaval in their consumption in the near future.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Mining Lubricants Market Analysis 2019-2029
A recent market study published by Future Market Insights (FMI) on the mining lubricants market includes the global industry analysis for 2014-2018 & opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. Our analysts conduct thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.
Mining Lubricants Market Taxonomy
- Coal Mining
- Iron Ore Mining
- Bauxite Mining
- Precious Metal & Rare Earth Mineral Mining
- Industrial Minerals Mining
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
The report initiates with the executive summary of the mining lubricants market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the mining lubricants market.
In this chapter, readers can find the definition and a detailed taxonomy of the mining lubricants market, which will help them understand the basic information about the mining lubricants market. Along with this, comprehensive information about mining lubricants is provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the mining lubricants market report.
The mining lubricants market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are provided in this section.
This section includes key successful factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the mining lubricants market for the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical mining lubricants market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the mining lubricants market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the mining lubricants market during the forecast period of 2019-2029.
This chapter explains key macroeconomic factors that are expected to influence the growth of the mining lubricants market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis for the mining lubricants market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on product type, the mining lubricants market is segmented into oils and greases. In this chapter, readers can find information about the key trends and developments in the mining lubricants market and market attractiveness analysis based on product.
Based on source, the mining lubricants market is segmented into synthetic and bio-based lubricants. In this chapter, readers can find information about the key trends and developments in the mining lubricants market and market attractiveness analysis based on source.
This chapter provides details about the mining lubricants market based on application and has been classified into coal mining, iron ore mining, bauxite mining, precious metal & rare earth minerals mining, industrial minerals, and others.
This chapter explains how the mining lubricants market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
This chapter includes a detailed analysis of the growth of the North America mining lubricants market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on application and countries in North America.
This chapter provides the growth scenario of the mining lubricants market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
Important growth prospects of the mining lubricants market based on its end users in several countries such as the Germany, Italy, France, the U.K., Spain, BENELUX, Russia, and the Rest of Europe are included in this chapter.
This chapter highlights the growth of the mining lubricants market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand the key factors that are responsible for the growth of the mining lubricants market in East Asia.
This chapter highlights the growth of the mining lubricants market in South Asia by focusing on India, ASEAN, and Rest South Asia. This section also helps readers understand the key factors that are responsible for the growth of the mining lubricants market in South Asia.
This chapter highlights the growth of the mining lubricants market by focusing on Oceania. This section also helps readers understand the key factors that are responsible for the growth of the mining lubricants market in Australia and New Zealand.
This chapter highlights the growth of the mining lubricants market in Middle East & Africa by focusing on Turkey, GCC Countries, South Africa and Rest of Middle East & Africa. This section also helps readers understand the key factors that are responsible for the growth of the mining lubricants market in the Middle East & Africa.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the mining lubricants market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the mining lubricants market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Royal Dutch Shell plc, ExxonMobil Corporation, Total S.A., BP plc, PetroChina Company Limited, PETRONAS, FUCHS, Chevron Corporation, Lukoil Company, Kluber Lubrication and others
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the mining lubricants market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the mining lubricants market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Industry Associations
- International Trade Association
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits