Press release
Specialty Lubricants Market Anticipated for Progressive CAGR Growth During 2017-2025
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.
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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.
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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:
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Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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