Specialty Lubricants Market - Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 - 2025


#12091

Persistence Market Research

$ 4900

The expanding number of vehicles on street is profoundly affecting the interest for specialty lubricants and especially the automotive lubricants. This is because the utilization of automotive lubricants improves vehicular activity and expands motor life span by diminishing grinding; hence, the interest for automotive lubricants is straightforwardly relative to the utilization of autos. With the rising worldwide populace, the flooding interest for expanded number of vehicles for transportation needs is decidedly affecting the automotive lubricants. This is fuelling demand for the specialty lubricants market.

Other than this, the expanding extra cash worldwide is thought about the rising offers of engine vehicles, which thusly, is prompting a significant increment in the interest for automotive lubricants. Here are some additional pointers stating about the specialty lubricants and its impact on the overall market:

  • The expanding exhaustion of raw petroleum assets and the expanding mindfulness about their natural ramifications have prompted the improvement of condition inviting lubricants.
  • This is on the grounds that raw petroleum based lubricants have wellbeing suggestions and are a reason for contamination that condition amicable items are free of.
  • Lubricants typically sway the earth at all phases from generation to use to transfer and along these lines should be non-dangerous to people either through inward breath or contact during creation and use.  This is fuelling demand for the specialty lubricants and in turn driving growth of the market.
  • Bio based lubricants are predominantly blended from vegetable oil and oilseeds. Bio based lubricants are for the most part made of esters, which are either regular, oleo substance, or complex.

Specialty Lubricants Market: Introduction

Specialty Lubricants are multi- functional and superior quality lubricants, majorly produced using advanced technologies and high class raw materials. When a machine and equipment encounters so much stress that conventional lubricants cannot be used to reduce it, friction specialty lubricant are applied. Growth in  industrialization in emerging economies, increasing demand for highly advanced equipment and machines, rising construction activities across the globe, especially in GCC Countries, China and India, etc. and growing base of mid- and small-cap industries is expected to propel the consumption of Specialty Lubricants during the forecast period.

Most of the specialty lubricants are hydrogen free, saturated, have low molecular weight, are chemically inert, non-toxic, have high thermal stability, high dielectric strength, lubricity, long life and high density, etc. These properties make specialty lubricants to be the majorly preferred type of lubricants by end users.

Consumption of synthetic oil-based specialty lubricants is expected to grow during the forecast period owing to various properties, such as durability and oxidation stability, enhanced performance at high temperatures, etc. in comparison to conventional lubricants present in the market.

Specialty Lubricants Market: Market Dynamics

Growing demand from end-use sectors, such as automotive, aerospace and cement, etc. and increasing sales network of distributors, suppliers and manufacturers to cater to the growing demand of specialty lubricants are the two factors expected to fuel the demand for specialty lubricants. Growing construction sector, which involves the application of various types of machines and equipment, such as grinding and mixing machines, stone crushing machine, etc., which use specialty lubricants to reduce friction and allow easy passage for the flow of materials, will also lead to the growth of the specialty lubricants market during the forecast period.

Manufacturers, distributors and suppliers are expanding their network in emerging economies through manufacturing facilities, partnerships, sales reach, etc. which is leading to the growth of Specialty Lubricants Market. For instance, ChemPoint and DowCoring have formed a strategic partnership for specialty lubricant applications. 

Low product awareness, high prices of products and preferences for conventional methods of lubrication are expected to act as hurdles in the growth of Specialty Lubricants Market during the forecast period.

Specialty Lubricants Market: Market Segmentation

On the basis of type, the Specialty Lubricants market can be segmented into:

  • Bio-Based
  • Mineral Oil Based
  • Synthetic Oil Based

 On the basis of application, the Specialty Lubricants market can be segmented into:

  • Automotive
  • Cement
  • Chemical
  • Laboratory Apparatus
  • Metalworking
  • Medical Applications 
  • Water and Wastewater Treatment
  • Others

 Specialty Lubricants Market: Regional Outlook

Asia Pacific is expected to witness robust growth in the demand for Specialty Lubricants during the forecast period owing to the increasing demand for automobiles in emerging economies, such as China, India, etc. This, coupled with increasing construction activities in the region, are leading to an increase in the consumption of cement, thereby fueling the demand for Specialty Lubricants.

North America and Europe are expected to witness significant growth in the consumption of specialty lubricants during the forecast period, which can be attributed to the shifting trend of using specialty lubricants in place of conventional lubricants for the maintenance of machineries and equipment coupled with growing automotive industry in the European region.

Middle East & Africa (MEA) and Latin America are expected to witness growth in the sales of Specialty Lubricants during the forecast period. This can be attributied to the growing adoption of automated and advanced systems which require functioning of multiple parts together. These systems mandatorily require specialty lubricants, thereby contributing to the growth of Specialty lubricants market.

Specialty Lubricants Market: Key Participants

Examples of some of the key participants identified across the value chain of the Specialty Lubricants Market are:

  • Anderol Specialty Lubricants
  • Dow Corning Corporation
  • Klüber Lubrication München SE & Co. KG
  • Matrix Specialty Lubricants BV
  • Royal Dutch Shell PLC
  • BASF SE
  • FUCHS LUBRITECH GmbH
  • ExxonMobil Corporation
  • HUSK-ITT Corporation
  • Sinopec Corporation
  • Tribology Tech-Lube Inc.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.