Mining Lubricants Market
Growth Factors of Mining Lubricants Market
The mining lubricants market size was valued at USD 2.77 billion in 2022, and the market is now projected to grow from USD 2.88 billion in 2023 to USD 3.94 billion by 2030, exhibiting a CAGR of 4.6% during the forecast period of 2023-2030.
The COVID-19 pandemic caused supply chain disruptions for mining lubricant manufacturers due to lockdowns and travel restrictions. Raw material shortages and distribution challenges led to delays in supply. Additionally, reduced mining operations and decreased demand for minerals lowered the need for mining lubricants, impacting market growth during the pandemic.
High-quality lubricants are crucial for the mining industry as they ensure smooth operation of heavy machinery by reducing friction and wear. This leads to improved equipment performance and less maintenance, allowing machinery to remain operational for longer periods. As mining companies aim to optimize their operations, the demand for high-quality lubricants continues to rise, enhancing productivity in the sector.
The adoption of automated lubrication systems in the mining industry is propelled by their capacity to enhance equipment efficiency and improve safety. These systems reduce environmental impact and optimize lubricant usage while providing real-time monitoring and remote control. Additionally, they save operational time, making them an essential investment for modern mining operations.
Comprehensive Analysis of Mining Lubricants Market
The mining lubricants market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis incudes mineral oil lubricants, synthetic lubricants, and bio-based lubricants. By application analysis incudes coal mining, iron ore mining, bauxite mining, rare earth minerals, precious metal mining, and others.
The Asia Pacific region lead the mining lubricants market share by benefitting a market size of USD 1.48 billion in 2022 due to increased mining activities.
Top players in the market have their responsibility of chemicals & advanced materials industrial prospectus growth of the retailing industry and the markets. These players include, Exxon Mobil Corporation, Shell, Lubrication Engineers, Whitmore Manufacturing LLC, Chevron Corporation, PETRONAS Lubricants International, Kluber Lubrication India Private Limited, FUCHS, CASTROL LIMITED, Valvoline Global Operations these market players provide a level-playing competitive landscape.
In November 2022, Shell acquired PANOLIN Group's eco-friendly lubricants (ECLs) business, including biodegradable lubricants, intellectual property, and an international customer base in the U.K., U.S., Switzerland, and Sweden.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 4.6% from 2023-2030
Unit Volume (Kiloton), Value (USD Billion)
Segmentation By Type
Mineral Oil Lubricants
Synthetic Lubricants
Bio-Based Lubricants
By Application
Coal Mining
Iron Ore Mining
Bauxite Mining
Rare Earth Mineral
Precious Metal Mining
Others
By Geography
North America (By Application and Country)
U.S. (By Application)
Canada (By Application)
Europe (By Application and Country)
Germany (By Application)
Italy (By Application)
U.K. (By Application)
France (By Application)
Rest of Europe (By Application)
Asia Pacific (By Application and Country)
China (By Application)
India (By Application)
Japan (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Application and Application)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Application and Country)
GCC (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Insights on Regulatory Scenario
- 4.4. Latest Technological Advancement
- 4.5. Porter’s Five Forces Analysis
- 5. Qualitative Insights on Impact of Covid-19 on the Market
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by Companies to Overcome the Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Mining Lubricants Market Analysis, Insights and Forecast, 2017-2030
- 6.1. Key Findings
- 6.2. By Type (Value/Volume)
- 6.2.1. Mineral Oil Lubricants
- 6.2.2. Synthetic Lubricants
- 6.2.3. Bio-Based Lubricants
- 6.3. By Application (Value/Volume)
- 6.3.1. Coal Mining
- 6.3.2. Iron Ore Mining
- 6.3.3. Bauxite Mining
- 6.3.4. Rare Earth Mineral
- 6.3.5. Precious Metal Mining
- 6.3.6. Others
- 6.4. By Region (Value/Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Mining Lubricants Market Analysis, Insights and Forecast, 2017-2030
- 7.1. Key Findings
- 7.2. By Type (Value/Volume)
- 7.2.1. Mineral Oil Lubricants
- 7.2.2. Synthetic Lubricants
- 7.2.3. Bio-Based Lubricants
- 7.3. By Application (Value/Volume)
- 7.3.1. Coal Mining
- 7.3.2. Iron Ore Mining
- 7.3.3. Bauxite Mining
- 7.3.4. Rare Earth Mineral
- 7.3.5. Precious Metal Mining
- 7.3.6. Others
- 7.4. By Country
- 7.4.1. U.S.
- 7.4.1.1. By Application (Value/Volume)
- 7.4.1.1.1. Coal Mining
- 7.4.1.1.2. Iron Ore Mining
- 7.4.1.1.3. Bauxite Mining
- 7.4.1.1.4. Rare Earth Mineral
- 7.4.1.1.5. Precious Metal Mining
- 7.4.1.1.6. Others
- 7.4.2. Canada
- 7.4.2.1. By Application (Value/Volume)
- 7.4.2.1.1. Coal Mining
- 7.4.2.1.2. Iron Ore Mining
- 7.4.2.1.3. Bauxite Mining
- 7.4.2.1.4. Rare Earth Mineral
- 7.4.2.1.5. Precious Metal Mining
- 7.4.2.1.6. Others
- 8. Europe Mining Lubricants Market Analysis, Insights and Forecast, 2017-2030
- 8.1. Key Findings
- 8.2. By Type (Value/Volume)
- 8.2.1. Mineral Oil Lubricants
- 8.2.2. Synthetic Lubricants
- 8.2.3. Bio-Based Lubricants
- 8.3. By Application (Value/Volume)
- 8.3.1. Coal Mining
- 8.3.2. Iron Ore Mining
- 8.3.3. Bauxite Mining
- 8.3.4. Rare Earth Mineral
- 8.3.5. Precious Metal Mining
- 8.3.6. Others
- 8.4. By Country (Value/Volume)
- 8.4.1. Germany
- 8.4.1.1. By Application (Value/Volume)
- 8.4.1.1.1. Coal Mining
- 8.4.1.1.2. Iron Ore Mining
- 8.4.1.1.3. Bauxite Mining
- 8.4.1.1.4. Rare Earth Mineral
- 8.4.1.1.5. Precious Metal Mining
- 8.4.1.1.6. Others
- 8.4.2. Italy
- 8.4.2.1. By Application (Value/Volume)
- 8.4.2.1.1. Coal Mining
- 8.4.2.1.2. Iron Ore Mining
- 8.4.2.1.3. Bauxite Mining
- 8.4.2.1.4. Rare Earth Mineral
- 8.4.2.1.5. Precious Metal Mining
- 8.4.2.1.6. Others
- 8.4.3. U.K.
- 8.4.3.1. By Application (Value/Volume)
- 8.4.3.1.1. Coal Mining
- 8.4.3.1.2. Iron Ore Mining
- 8.4.3.1.3. Bauxite Mining
- 8.4.3.1.4. Rare Earth Mineral
- 8.4.3.1.5. Precious Metal Mining
- 8.4.3.1.6. Others
- 8.4.4. France
- 8.4.4.1. By Application (Value/Volume)
- 8.4.4.1.1. Coal Mining
- 8.4.4.1.2. Iron Ore Mining
- 8.4.4.1.3. Bauxite Mining
- 8.4.4.1.4. Rare Earth Mineral
- 8.4.4.1.5. Precious Metal Mining
- 8.4.4.1.6. Others
- 8.4.5. Rest of Europe
- 8.4.5.1. By Application (Value/Volume)
- 8.4.5.1.1. Coal Mining
- 8.4.5.1.2. Iron Ore Mining
- 8.4.5.1.3. Bauxite Mining
- 8.4.5.1.4. Rare Earth Mineral
- 8.4.5.1.5. Precious Metal Mining
- 8.4.5.1.6. Others
- 9. Asia Pacific Mining Lubricants Market Analysis, Insights and Forecast, 2017-2030
- 9.1. Key Findings
- 9.2. By Type (Value/Volume)
- 9.2.1. Mineral Oil Lubricants
- 9.2.2. Synthetic Lubricants
- 9.2.3. Bio-Based Lubricants
- 9.3. By Application (Value/Volume)
- 9.3.1. Coal Mining
- 9.3.2. Iron Ore Mining
- 9.3.3. Bauxite Mining
- 9.3.4. Rare Earth Mineral
- 9.3.5. Precious Metal Mining
- 9.3.6. Others
- 9.4. By Country (Value/Volume)
- 9.4.1. China
- 9.4.1.1. By Application (Value/Volume)
- 9.4.1.1.1. Coal Mining
- 9.4.1.1.2. Iron Ore Mining
- 9.4.1.1.3. Bauxite Mining
- 9.4.1.1.4. Rare Earth Mineral
- 9.4.1.1.5. Precious Metal Mining
- 9.4.1.1.6. Others
- 9.4.2. India
- 9.4.2.1. By Application (Value/Volume)
- 9.4.2.1.1. Coal Mining
- 9.4.2.1.2. Iron Ore Mining
- 9.4.2.1.3. Bauxite Mining
- 9.4.2.1.4. Rare Earth Mineral
- 9.4.2.1.5. Precious Metal Mining
- 9.4.2.1.6. Others
- 9.4.3. Japan
- 9.4.3.1. By Application (Value/Volume)
- 9.4.3.1.1. Coal Mining
- 9.4.3.1.2. Iron Ore Mining
- 9.4.3.1.3. Bauxite Mining
- 9.4.3.1.4. Rare Earth Mineral
- 9.4.3.1.5. Precious Metal Mining
- 9.4.3.1.6. Others
- 9.4.4. South Korea
- 9.4.4.1. By Application (Value/Volume)
- 9.4.4.1.1. Coal Mining
- 9.4.4.1.2. Iron Ore Mining
- 9.4.4.1.3. Bauxite Mining
- 9.4.4.1.4. Rare Earth Mineral
- 9.4.4.1.5. Precious Metal Mining
- 9.4.4.1.6. Others
- 9.4.5. Rest of Asia Pacific
- 9.4.5.1. By Application (Value/Volume)
- 9.4.5.1.1. Coal Mining
- 9.4.5.1.2. Iron Ore Mining
- 9.4.5.1.3. Bauxite Mining
- 9.4.5.1.4. Rare Earth Mineral
- 9.4.5.1.5. Precious Metal Mining
- 9.4.5.1.6. Others
- 10. Latin America Mining Lubricants Market Analysis, Insights and Forecast, 2017-2030
- 10.1. Key Findings
- 10.2. By Type (Value/Volume)
- 10.2.1. Mineral Oil Lubricants
- 10.2.2. Synthetic Lubricants
- 10.2.3. Bio-Based Lubricants
- 10.3. By Application (Value/Volume)
- 10.3.1. Coal Mining
- 10.3.2. Iron Ore Mining
- 10.3.3. Bauxite Mining
- 10.3.4. Rare Earth Mineral
- 10.3.5. Precious Metal Mining
- 10.3.6. Others
- 10.4. By Country (Value/Volume)
- 10.4.1. Brazil
- 10.4.1.1. By Application (Value/Volume)
- 10.4.1.1.1. Coal Mining
- 10.4.1.1.2. Iron Ore Mining
- 10.4.1.1.3. Bauxite Mining
- 10.4.1.1.4. Rare Earth Mineral
- 10.4.1.1.5. Precious Metal Mining
- 10.4.1.1.6. Others
- 10.4.2. Mexico
- 10.4.2.1. By Application (Value/Volume)
- 10.4.2.1.1. Coal Mining
- 10.4.2.1.2. Iron Ore Mining
- 10.4.2.1.3. Bauxite Mining
- 10.4.2.1.4. Rare Earth Mineral
- 10.4.2.1.5. Precious Metal Mining
- 10.4.2.1.6. Others
- 10.4.3. Rest of Latin America
- 10.4.3.1. By Application (Value/Volume)
- 10.4.3.1.1. Coal Mining
- 10.4.3.1.2. Iron Ore Mining
- 10.4.3.1.3. Bauxite Mining
- 10.4.3.1.4. Rare Earth Mineral
- 10.4.3.1.5. Precious Metal Mining
- 10.4.3.1.6. Others
- 11. Middle East & Africa Mining Lubricants Market Analysis, Insights and Forecast, 2017-2030
- 11.1. Key Findings
- 11.2. By Type (Value/Volume)
- 11.2.1. Mineral Oil Lubricants
- 11.2.2. Synthetic Lubricants
- 11.2.3. Bio-Based Lubricants
- 11.3. By Application (Value/Volume)
- 11.3.1. Coal Mining
- 11.3.2. Iron Ore Mining
- 11.3.3. Bauxite Mining
- 11.3.4. Rare Earth Mineral
- 11.3.5. Precious Metal Mining
- 11.3.6. Others
- 11.4. By Country (Value/Volume)
- 11.4.1. GCC
- 11.4.1.1. By Application (Value/Volume)
- 11.4.1.1.1. Coal Mining
- 11.4.1.1.2. Iron Ore Mining
- 11.4.1.1.3. Bauxite Mining
- 11.4.1.1.4. Rare Earth Mineral
- 11.4.1.1.5. Precious Metal Mining
- 11.4.1.1.6. Others
- 11.4.2. South Africa
- 11.4.2.1. By Application (Value/Volume)
- 11.4.2.1.1. Coal Mining
- 11.4.2.1.2. Iron Ore Mining
- 11.4.2.1.3. Bauxite Mining
- 11.4.2.1.4. Rare Earth Mineral
- 11.4.2.1.5. Precious Metal Mining
- 11.4.2.1.6. Others
- 11.4.3. Rest of Middle East & Africa
- 11.4.3.1. By Application (Value/Volume)
- 11.4.3.1.1. Coal Mining
- 11.4.3.1.2. Iron Ore Mining
- 11.4.3.1.3. Bauxite Mining
- 11.4.3.1.4. Rare Earth Mineral
- 11.4.3.1.5. Precious Metal Mining
- 11.4.3.1.6. Others
- 12. Competitive Analysis
- 12.1. Company Market Share/Market Ranking Analysis, By Key Players
- 12.2. Company Profiles (Overview, Product Portfolio, Recent Developments, Strategies, Financials (Based on Data Availability))
- 12.2.1. Exxon Mobil Corporation
- 12.2.1.1. Overview
- 12.2.1.2. Description
- 12.2.1.3. Product Portfolio
- 12.2.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.1.5. Recent Developments
- 12.2.2. Shell
- 12.2.2.1. Overview
- 12.2.2.2. Description
- 12.2.2.3. Product Portfolio
- 12.2.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.2.5. Recent Developments
- 12.2.3. Lubrication Engineers
- 12.2.3.1. Overview
- 12.2.3.2. Description
- 12.2.3.3. Product Portfolio
- 12.2.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.3.5. Recent Developments
- 12.2.4. Whitmore Manufacturing LLC.
- 12.2.4.1. Overview
- 12.2.4.2. Description
- 12.2.4.3. Product Portfolio
- 12.2.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.4.5. Recent Developments
- 12.2.5. Chevron Corporation
- 12.2.5.1. Overview
- 12.2.5.2. Description
- 12.2.5.3. Product Portfolio
- 12.2.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5.5. Recent Developments
- 12.2.6. PETRONAS Lubricants International
- 12.2.6.1. Overview
- 12.2.6.2. Description
- 12.2.6.3. Product Portfolio
- 12.2.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.6.5. Recent Developments
- 12.2.7. Kluber Lubrication India Private Limited
- 12.2.7.1. Overview
- 12.2.7.2. Description
- 12.2.7.3. Product Portfolio
- 12.2.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.7.5. Recent Developments
- 12.2.8. FUCHS
- 12.2.8.1. Overview
- 12.2.8.2. Description
- 12.2.8.3. Product Portfolio
- 12.2.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.8.5. Recent Developments
- 12.2.9. CASTROL LIMITED
- 12.2.9.1. Overview
- 12.2.9.2. Description
- 12.2.9.3. Product Portfolio
- 12.2.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.9.5. Recent Developments
- 12.2.10. Valvoline Global Operations
- 12.2.10.1. Overview
- 12.2.10.2. Description
- 12.2.10.3. Product Portfolio
- 12.2.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.10.5. Recent Developments
- 12.2.11. Other Key Players
- 13. Strategic Recommendations
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