Mining Lubricants Market: Summary
The Global Mining Lubricants Market is projected to reach a value of over USD 3.1 billion by 2027 at a CAGR of around 3.8%.
Mining equipment such as rock drill, draglines, loaders, hydraulic shovels, and scoops are runs continuously at heavy loads & pressure and long operations in mining activities. The mining activities could give damage to the mining equipment and can lead to wear and tear over time. Thus, to reduce machinery’s maintenance and replacement lubricants plays a vital role to increase their shelf life and performance.
Mining Lubricants Market: Drivers & Challenges
- Expansion in African Mining Sector
As the global population increases the demand for minerals and their derivatives are also increases in different end-use industries. The African mining industry has witnessed a surge in investment in mining activity, due to the presence of heavy mineral deposits in the Africa region. Africa is well endowed with mining resources and having a long history of mining. For instance, gold is a key source obtained in the Africa region, South Africa, Ghana and Sudan are the leading gold producer in this region. Moreover, Africa is one of the leading producers of iron ore, bauxite, diamonds, phosphate, and uranium. In the last few years, the investments in the mining sector in countries such as South Africa and Congo have increased, especially for based material. Thus, the increasing mining sector in Africa region is expected to boost the global mining lubricant market during the forecasted period.
- Stringent Government Regulations
Excessive mining hampers the environment and can occur at local, regional, and global scales. The Environment impact can result in erosion, loss of biodiversity, sinkholes, the contamination of soil, groundwater, and surface water by the chemicals emitted from mining processes. These processes emit the carbon dioxide into the environment which have an effect on the quality of human health and biodiversity. To avoid these environmental effects various government regulatory system has been developed to govern current mining operations. Some important federal laws authorizing and guiding environmental regulation of mining are National Environmental Policy Act (NEPA), Clean Air Act (CAA), Resource Conservation and Recovery Act (RCRA), Clean Water Act (CWA), Toxic Substances Control Act (TSCA), Comprehensive Environmental Response, and Compensation, and Liability Act (CERCLA). These regulation restrict the mining activities, which in turns to hamper the mining lubricants market up to a certain extent.
Mining Lubricants Market: Key Segments
- Segmentation based on product: Mineral Oil Mining Lubricants, Synthetic Mining Lubricants, and Bio-based Mining Lubricants
- Segmentation based on application: Coal Mining, Iron Ore Mining, Bauxite Mining, Rare Earth Mineral Mining, Precious Metal Mining, and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Mining Lubricants Market: Report Scope
The report on the mining lubricants market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Product, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Royal Dutch Shell (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- bp p.l.c.
- Exxon Mobil Corporation
- Chevron Corporation
- PetroChina Company Limited
- Quaker Chemical Corporation
- China Petroleum & Chemical Corporation (Sinopec Corp.)
- Idemitsu Kosan Co.,Ltd.
- Calumet Branded Products, LLC
- Whitmore Manufacturing, LLC.
- Schaeffer Manufacturing Co.
- KLÜBER LUBRICATION
- CASTROL LIMITED
- Other Key Companies
Mining Lubricants Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Mining Lubricants Market, by Product
- Mineral Oil Mining Lubricants
- Synthetic Mining Lubricants
- Bio-based Mining Lubricants
Mining Lubricants Market, by Application
- Coal Mining
- Iron Ore Mining
- Bauxite Mining
- Rare Earth Mineral Mining
- Precious Metal Mining
Mining Lubricants Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Mining Lubricants Market Providers
- Mining Lubricants Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Mining Lubricants Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MINING LUBRICANTS MARKET STUDY