Poland Industrial Lubricants Market Size, Share and Price Trends 2023 - Orlen Oil Sp.z o.o, LOTOS Oil Sp. Z o.o, Lubricant Consult GmbH, Klüber Lubrication Polska Sp. z o.o., Total S.A, Nynas AB, BP Europa SE, FUCHS, ExxonMobil Corporation, and Oemeta Po
Increasing Demand from Mining Industry set to propel Poland Industrial Lubricants Market growth at CAGR of 3.29%
Poland Industrial Lubricants Market is segmented on the basis of type and application. On the basis of Type the market is divided into process oils, hydraulic fluids, gear lubricants, compressor lubricants, turbine lubricants, metalworking fluids, industrial engine oils, and others. Process oils emerged as the leading segment with demand driven by factors such as increasing usage in manufacturing of tires and rubbers. They are helpful in enhancing abrasion & rolling resistance of tires. Widening application scope in end-use industries such as polymer, personal care, and textile is further anticipated to positively influence market growth. The segment is projected to grow at a CAGR of 3.52% to reach USD 53.7 million by the end of 2023. Process oils were followed by hydraulic fluids and metalworking fluids in terms of overall market share in 2016. Increasing demand for metalworking processes such as cutting, welding, and forming across various applications, such as automotive, foundry, ships, aircraft, milling, and industrial machinery, is expected to drive the demand for metalworking fluids over the forecast period. General industrial oils such as gear lubricants, turbine lubricants, and compressor lubricants are set to witness moderate growth over the forecast period.
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Based on Application, the Poland Industrial Lubricants Market is segmented as automotive manufacturing, power generation, process industry, food & beverages, mining, rail, construction, and others. Construction sector accounted for the largest market share of over 20% in 2016 and is set to grow at an estimated CAGR of 3.45% from 2017 to 2023. The country is set to be the largest recipient of EU-funding and financial assistance of over EUR 80 billion from 2014 to 2020. This factor has resulted in significant development of construction and infrastructure projects across the country. Power generation is expected to witness the highest revenue CAGR of 3.55% from 2017 to 2023. Numerous energy facilities rely heavily on the performance of their equipment to remain competitive, including gas and steam turbine power plants, wind turbines, natural gas compression plants.
The Poland Industrial Lubricants Market is projected to reach USD 195.3 million by 2023 with 3.29% CAGR growth rate during the review period of 2017-2023. In terms of types of Industrial Lubricants, process oil emerged as the leading segment in 2016 and is expected to continue its dominance over the forecast period. Construction was the largest application owing to the high demand for non-reactive, sustainable and compatible fluids to handle complicated characteristics of varied applications in a safe & efficient manner.
The key players operating in the market include Orlen Oil Sp.z o.o, LOTOS Oil Sp. Z o.o, Lubricant Consult GmbH, Klüber Lubrication Polska Sp. z o.o., Total S.A, Nynas AB, BP Europa SE, FUCHS, ExxonMobil Corporation, and Oemeta Polska Sp. Z o.o.
The industrial sector in Poland has performed exceedingly well over the last five years and is expected to witness a growth of 5.3% in industrial output in 2017. The consumption of Industrial Lubricants is directly related to industrial lubricants market dynamics. The increasing manufacturing activities are poised to surge investments in production machinery, thereby paving growth routes for Industrial Lubricants. The growing presence of buyers along with easy availability of Industrial Lubricants due to strong supplier and distributor network is expected to maintain competitiveness and serve the easing demand from end-use industries. Companies such as Klüber Lubrication and Nynas AB are actively focusing on product development and new product launches in order to capture regional market and deliver high-value products.
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