Mining Lubricants Market, Size, Share, Growth, Trends, Insight and Industry Forecast, 2021-2028

SKU: DMMM3092 | Last Updated On: Jun 01 2021 | No. of Pages: 180 | Available Formats

> Global Mining Lubricants Market Expected to reach a high CAGR By 2028: DataM Intelligence

Global Mining Lubricants Market Market is segmented By Type (Mineral Oil Lubricants, Synthetic Lubricants, Bio-Based Lubricants), By End Users (Coal Mining, Metal Mining, Rare Earth Metal Mining, Other), And By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2021-2028

 

Market Overview

The "Global Mining Lubricants Market" is expected to grow at a high CAGR during the forecasting period (2021-2028).

A lubricant is an organic material used to decrease friction between surfaces in mutual contact, reducing the heat generated when the bodies move. Lubricants in the mining industry are used to serve stationary processing, e.g., compressors, crushers, mills, roller presses and mobile equipment used in surface and underground operations, e.g., trucks and shovels, dragline and processing equipment. In addition, mining machines utilize lubricants in components like bearings, gears, pins, ropes, machine tool slideways, pneumatic tools, mining transmissions, turbines, etc. These lubricants generate high viscosity index, extended oil drain intervals, maximum performance and anti-wear properties. Moreover, it is also used to prevent rusting and corrosion of moving parts in machinery.

The global mining lubricants market size was worth US$ XX billion in 2018 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).

Source: DataM Intelligence Analysis (2019)

Market Dynamics

The global mining lubricants market growth is driven by demand for better lubricants, and continuous maintenance of mining equipment are among the key factors driving the market growth.

The demand for better quality mining lubricants is expected to drive market growth in the forecast period.

Lubricants play a vital role in mining operations; these are used in crushers, gears, pins, engines, and various other mining components to increase machine efficiency and avoid failure in opencast and underground mines. High-quality lubricants can immediately impact the operation by increasing machine life, decreasing maintenance cost and energy use. Using low-quality lubricants is a waste as it costs only 1% to 2% of the total maintenance costs. According to Shell report,2020, 60% of companies recognize that effective lubricant selection and management can reduce costs by 5% or more. Still, they undervalue the opportunity - fewer than 10% realize that the impact of lubrication could be up to six times greater.

The demand for multipurpose mining lubricants is expected to drive market growth in the forecast period.

An attempt to reduce the number of lubricants on machines has encouraged the development of multipurpose lubrication, which can meet the requirement of various applications from a single lubrication system like Mobil manufactures Dynagear multipurpose lubricant, which can be used for various open gears.

With GPS offering the potential for remotely operated equipment, lubrication systems are expected to reach new control levels. When it comes to developing and applying lubricating products, it becomes necessary to provide the cleanest possible environment,  reducing rehandling and using the right product in the right amount.

Low quality mining lubricants are likely to hinder market growth.

On the contrary, low quality mining lubricants can result in unexpected machines failure, increased maintenance cost, shortening machines life, increase power consumption. According to a Shell report, 2020, 96% of mining companies report facing unplanned equipment shutdowns in the last three years, with over 56% acknowledging this is due to their incorrect selection and management of lubricants. It also creates a direct financial impact at a time when cost competitiveness is a priority for mining companies. However, mining lubricant companies are looking to deliver the best quality lubricants in the market.

COVID-19 Impact Analysis

India accounts for almost 7% of the global lubricants market. Due to the pandemic, stakeholders across the mining lubricants market (including raw material suppliers, manufacturers, and customers) have seen a notable impact, considering the slowdown in transportation and industrial activity as most of the minerals processing units have scaled-down production. The operations resumed after the lockdown but were impacted by a lack of supplies and inventories.

On the other hand, strict government regulations on lubricants usage demand of more sustainable and environmentally friendly lubricants and commencing of various new mining projects likely to boost the mining lubricants market. For instance, Klübersustain has manufactured eco-friendly lubricants without loss of performance, reducing disposal costs due to biodegradability and ensuring that mining operations are aligned with legislative regulations approved for environmentally sensitive areas.

Segmentation Analysis

By type, the mining lubricants market is classified into mineral oil, bio-based and synthetic based lubricants.

Bio-based lubricants are expected to grow at the fastest CAGR during the forecast period (2020-2027)

Bio-based lubricants are gaining popularity because of strict regulations imposed by government bodies towards environmental protection and since mineral oils manufacture other lubricants, which impact the environment in terms of biodegradability and toxicity. For instance, Spill Prevention, Control and Countermeasure rule was enforced by U.S. Environment Protection Agency for the conserving of water bodies from leakage of oils in the environment. As a result, regulative support for bio-lubricants superior mechanical properties compared to synthetic lubricants is expected to be an advantage for the product market shortly.

Furthermore, the increasing demand for mining products like drills & breakers, crushing, pulverizing & screening equipment, and the mineral processing industry is expected to boost the lubricants demand in the rising mining minerals & metals. In 2019, the worldwide lubricant demand reached 36.8 million metric tons, in which the mining sector shared XX %.

Source: DataM Intelligence Analysis (2019)

Asia pacific market segment is expected to grow at the fastest CAGR during the forecast period (2020-2027)

The Asia Pacific dominates the largest mining lubricants market and is expected to grow during the forecast period as the region focuses on the environmental effects due to lubricants, which provides the opportunity for the key players to launch lubricants with modified versions. For instance, According to Mine Tempting times, 2018, highlighted several regulatory and political challenges, which further pressure the mining industry to create sustainable value in the future. Moreover, the expansion of mining industries in the region will also boost the mining lubricants market.

Various other leading companies are coming with new initiatives in the sector, such as American company ExxonMobil has completed an extension at its Singapore refinery to upgrade its production EHC Group II base lubricant stocks. The development will allow customers to blend lubricants that satisfy more stringent specifications, help lower emissions and improve fuel economy and low-temperature performance. Also, Whitmore Manufacturing and Shell will form a joint venture to manufacture mining lubricants, coolants, and greases to theU.S. and North America mining sectors. 

Competitive Landscape

The mining lubricants market is consolidated and highly competitive with the presence of a few local players followed by the global companies who contribute to the major share in the market. Leading key players contributing to the growth of the market areExxon Mobil Corporation, Royal Dutch Shell, Fuchs Petrolub, Kluber Lubrication Munchen SE & Co, Total Lubricants, Luk Oil, BP Plc., Chevron Corporation and Idemitsu Kosan Co. Ltd. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions and collaborations, which are responsible for the growth of the mining lubricants market globally.

 Royal Dutch Shell plc

Overview: Royal Dutch Shell Plc is one of the leading key players worldwide in the upstream, downstream and chemical sector. The Company was started in 1907 headquartered in the Netherlands. The company manufactures products for use in heavy industrial and commercial transport applications.

Product Portfolio: The Company is operating in exploration, refining, marketing of oil and natural gas, and the manufacturing and marketing of chemicals.

Key Development:  In 2019, Royal Dutch Shell opened its first lubricant laboratory at its technology centre in Bangalore, further increasing the company's R&D efforts in the country and internationally.

Why Purchase the Report?

  • Visualize the segmentation of the mining lubricants market segmentation by type, end-users and region, highlighting the key commercial assets and players.
  • Identify commercial opportunities in the mining lubricants market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of mining lubricants market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global mining lubricants market report would provide access to an approx: 63 market data table, 53 figures and 240 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

 

 

Table of Contents

  1. Mining Lubricants Market Methodology and Scope

    1. Research Methodology
    2. Research Objective and Scope of the Report
  2. Mining Lubricants Market – Market Definition and Overview

  3. Mining Lubricants Market – Executive Summary

    1. Market Snippet by Type
    2. Market snippet by End Users
    3. Market Snippet by Region
  4. Mining Lubricants Market – Market Dynamics

    1. Market Impacting Factors
      1. Drivers
        1. Increase in demand for multipurpose lubricants
        2. Increase in demand for better quality lubricants
      2. Restraints:
        1. Impacts of low-quality lubricants on mining operations
      3. Opportunity
      4. Impact Analysis
  5. Mining Lubricants Market – Industry Analysis

    1. Porter's Five Forces Analysis
    2. Supply Chain Analysis
    3. Pricing Analysis
    4. Regulatory Analysis
    5. Reimbursement Analysis
    6. Unmet Needs
  6. Mining Lubricants Market– COVID-19 Analysis

    1. Analysis of Covid-19 on the Market
      1. Before COVID-19 Market Scenario
      2. Present COVID-19 Market Scenario
      3. After COVID-19 or Future Scenario
    2. Pricing Dynamics Amid Covid-19
    3. Demand-Supply Spectrum
    4. Government Initiatives Related to the Market During Pandemic
    5. Manufacturers Strategic Initiatives
    6. Conclusion 
  7. Mining Lubricants Market– by Type

    1. Introduction
    2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    3. Market Attractiveness Index, By Type
      1. Mineral Oil Lubricants*
        1. Introduction
        2. Market Size Analysis and Y-o-Y Growth Analysis (%)
      2. Synthetic Lubricants
      3. Bio-Based Lubricants
  8. Mining LubricantsMarket – by End Users

    1. Introduction
    2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
    3. Market Attractiveness Index, By End Users
      1. Coal Mining*
        1. Introduction
        2. Market Size Analysis and Y-o-Y Growth Analysis (%)
      2.  Metal Mining
      3.  Rare Earth Metal Mining
      4. Other
  9. Mining Lubricants Market – by Region

    1. Introduction
    2. Market Size Analysis, and Y-o-Y Growth Analysis (%), by region
    3. Market Attractiveness Index, By Region
    4. North America*
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. U.S.
        2. Canada
        3. Mexico
    5. Europe
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Germany
        2. U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    6. South America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    7. Asia Pacific
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. China
        2. India
        3. Japan
        4. Australia
        5. Rest of Asia Pacific
    8. Middle East and Africa
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End Users
  10. Mining Lubricants Market – Competitive Landscape

    1. Competitive Scenario
    2. Market Positioning/Share Analysis
    3. Mergers and Acquisitions Analysis
  11. Mining Lubricants Market- Company Profiles

    1. Royal Dutch Shell
      1. Company Overview
      2. Product Portfolio and Description
      3. Key Highlights
      4. Financial Overview
    2. Praxair Fuchs Petrolub
    3. Kluber Lubrication Munchen SE & Co.
    4. Total Lubricants
    5. Luk oil
    6. BP Plc.
    7. Chevron Corporation
    8. Idemitsu Kosan Co. Ltd
    9. Exxon Mobil
    10. Bel-Ray (List Not Exhaustive)
  12. Mining Lubricant Market – Premium Insights

  13. Mining Lubricant Market – DataM

    1. Appendix
    2. About Us and Services
    3. Contact Us

 

List of Tables & Figures

List of Tables

Table-1     Global Mining Lubricants Market Value, By Type, 2019, 2023 & 2027 ($ Million)

Table-2    Global Mining Lubricants Market Value, By End Users, 2019, 2023 & 2027 ($ Million)

Table-3    Global Mining Lubricants Market Value, By Region, 2019, 2023 & 2027 ($ Million)

Table-4    Global Mining Lubricants Market Value, By Type, 2019, 2023 & 2027 ($ Million)

Table-5    Global Mining Lubricants Market Value, By Type, 2018-2027 ($ Million)

Table-6    Global Mining Lubricants Market Value, By End Users, 2019, 2023 & 2027 ($ Million)

Table-7     Global Mining Lubricants Market Value, By End Users, 2018-2027 ($ Million)

Table-8    Global Mining Lubricants Market Value, By Region, 2019, 2023 & 2027 ($ Million)

Table-9    Global Mining Lubricants Market Value, By Region, 2018-2027 ($ Million)

Table-10  North America Mining Lubricants Market Value, By Type, 2018-2027 ($ Million)

Table-11   North America Mining Lubricants Market Value, By End Users, 2018-2027 ($ Million)

Table-12   North America Mining Lubricants Market Value, By Country, 2018-2027 ($ Million)

Table-13   South America Mining Lubricants Market Value, By Type, 2018-2027 ($ Million)

Table-14   South America Mining Lubricants Market Value, By End Users, 2018-2027 ($ Million)

Table-15   South America Mining Lubricants Market Value, By Country, 2018-2027 ($ Million)

Table-16   Europe Mining Lubricants Market Value, By Type, 2018-2027 ($ Million)

Table-17   Europe Mining Lubricants Market Value, By End Users, 2018-2027 ($ Million)

Table-18  Europe Mining Lubricants Market Value, By Country, 2018-2027 ($ Million)

Table-19   Asia-Pacific Mining Lubricants Market Value, By Type, 2018-2027 ($ Million)

Table-20  Asia-Pacific Mining Lubricants Market Value, By End Users, 2018-2027 ($ Million)

Table-21   Asia-Pacific Mining Lubricants Market Value, By Country, 2018-2027 ($ Million)

Table-22  Middle East & Africa Mining Lubricants Market Value, By Type, 2018-2027 ($ Million)

Table-23  Middle East & Africa Mining Lubricants Market Value, By End Users, 2018-2027 ($ Million)

Table-24  Royal Dutch Shell: Overview

Table-25  Royal Dutch Shell: Product Portfolio

Table-26  Royal Dutch Shell: Key Developments

Table-27  Praxair Fuchs Petrolub: Overview

Table-28  Praxair Fuchs Petrolub: Product Portfolio

Table-29  Praxair Fuchs Petrolub: Key Developments

Table-30  Kluber Lubrication Munchen SE & Co: Overview

Table-31   Kluber Lubrication Munchen SE & Co: Product Portfolio

Table-32  Kluber Lubrication Munchen SE & Co: Key Developments

Table-33  Total Lubricants: Overview

Table-34  Total Lubricants: Product Portfolio

Table-35  Total Lubricants: Key Developments

Table-36  Luk Oil: Overview

Table-37  Luk Oil: Product Portfolio

Table-38  Luk Oil: Key Developments

Table-39  BP Plc.: Overview

Table-40  BP Plc.: Product Portfolio

Table-41   BP Plc.: Key Developments

Table-42  Chevron Corporation: Overview

Table-43  Chevron Corporation: Product Portfolio

Table-44  Chevron Corporation: Key Developments

Table-45  Idemitsu Kosan Co. Ltd: Overview

Table-46  Idemitsu Kosan Co. Ltd: Product Portfolio

Table-47  Idemitsu Kosan Co. Ltd: Key Developments

Table-48  Exxon Mobil: Overview

Table-49  Exxon Mobil: Product Portfolio

Table-50  Exxon Mobil: Key Developments

Table-51   Bel-Ray: Overview

Table-52  Bel-Ray: Product Portfolio

Table-53  Bel-Ray: Key Developments

 

List of Figures

Figure-1   Global Mining Lubricants Market Share, By Type, 2019 & 2027 (%)

Figure-2   Global Mining Lubricants Market Share, By End Users, 2019 & 2027 (%)

Figure-3   Global Mining Lubricants Market Share, By Region, 2019 & 2027 (%)

Figure-4   Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-5   Global Mining Lubricants Market Y-o-Y Growth, By Type, 2019-2027 (%)

Figure-6   Mineral Oil Lubricants: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-7   Synthetic Lubricants: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-8   Bio-Based Lubricants: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-9   Global Mining Lubricants Market Y-o-Y Growth, By End Users, 2019-2027 (%)

Figure-10 Coal Mining: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-11 Metal Mining: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-12 Rare Earth Metals Mining: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-13 Others: Global Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-14 Global Mining Lubricants Market Y-o-Y Growth, By Region, 2019-2027 (%)

Figure-15 North America Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-16 North America Mining Lubricants Market Share, By Type, 2019 & 2027 (%)

Figure-17 North America Mining Lubricants Market Share, By End Users, 2019 & 2027 (%)

Figure-18 North America Mining Lubricants Market Share, By Country, 2019 & 2027 (%)

Figure-19 South America Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-20 South America Mining Lubricants Market Share, By Type, 2019 & 2027 (%)

Figure-21 South America Mining Lubricants Market Share, By End Users, 2019 & 2027 (%)

Figure-22 South America Mining Lubricants Market Share, By Country, 2019 & 2027 (%)

Figure-23 Europe Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-24 Europe Mining Lubricants Market Share, By Type, 2019 & 2027 (%)

Figure-25 Europe Mining Lubricants Market Share, By End Users, 2019 & 2027 (%)

Figure-26 Europe Mining Lubricants Market Share, By Country, 2019 & 2027 (%)

Figure-27 Asia-Pacific Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-28 Asia-Pacific Mining Lubricants Market Share, By Type, 2019 & 2027 (%)

Figure-29 Asia-Pacific Mining Lubricants Market Share, By End Users, 2019 & 2027 (%)

Figure-30 Asia-Pacific Mining Lubricants Market Share, By Country, 2019 & 2027 (%)

Figure-31 Middle East & Africa Mining Lubricants Market Value, 2018-2027 ($ Million)

Figure-32 Middle East & Africa Mining Lubricants Market Share, By Type, 2019 & 2027 (%)

Figure-33 Middle East & Africa Mining Lubricants Market Share, By End Users, 2019 & 2027 (%)

Figure-34 Royal Dutch Shell: Financials

Figure-35 Praxair Fuchs Petrolub: Financials

Figure-36 Kluber Lubrication Munchen SE & Co: Financials

Figure-37 Total Lubricants: Financials

Figure-38 Luk Oil: Financials

Figure-39 BP Plc.: Financials

Figure-40Chevron Corporation: Financials

Figure-41 Idemitsu Kosan Co. Ltd: Financials

Figure-42 Exxon Mobil: Financials

Figure-43 Bel-Ray: Financials

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