Mining Lubricant Market

Mining Lubricant Market - Global Industry Insights,
Trends, Size, Share, Outlook, and Opportunity
Analysis, 2018–2026
Mining can be carried out at the surface as well as underground. Rock drills, scoops,
loader, hydraulic shovels, and draglines are used constantly in the operations of
mining which causes wear and tear. This causes decrease in downtime and life of
the equipment. Hence, mining lubricants play an important role in mining activities. In
mining, the anti-wear performance and the need of good corrosion protection are
mainly required to protect the metal surface. The mining lubricants are used to
reduce costs by extending drain intervals, improving energy efficiency, and
increasing equipment life.
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Mining lubricants are available in various viscosities for different equipment function.
Different lubricant are used in different equipment. The load on the equipment are
different for surface mining and underground mining. Surface mining is preferred
when the ores are located close to the surface of the earth. In underground mining, a
hole is drilled to get the ore onto the surface, so more machinery are used for which
more lubricants are required.
Depending on specific machine, application, operating condition and environment
the mining lubricants are used. The mineral oil is better soluble with additives and it
has high compatibility with seal and has lower cost. The synthetic lubricant are used
at extreme environmental conditions and has higher cost than mineral oil.
Furthermore, due to stringent environmental regulations and degradable property of
bio lubricants, they are gaining preference over other lubricants.
Increased demand from construction industry for steel has resulted in increased iron
mining. Countries such as India and China do not have oil and gas industry on scale
as large as Middle East. Hence they are dependent on coal for domestic energy
needs.
Mining Lubricant Market Outlook - Surging demand in Asia-Pacific Augmenting
Market Growth
Asia Pacific is a major hub for the coal and iron ore mining industries. The major
developing infrastructure and growing construction activities has enabled the
significant need of these minerals, which in turn is leading to the need of mining
lubricants. Australia and China are one of the largest producers of iron ore and
bauxite. The mining lubricant market is totally dependent on the mining industry of
these countries. Asia Pacific was the largest market for the mining lubricants in 2016.
This in turn markets it an attractive market for mining lubricants. Increased mining to
achieve energy and mineral resource for enhancing self-sufficiency ability are the
major drivers behind this trend.
The downturn in mining related investments in South Africa due to the stringent
government regulations adversely affected the mining lubricant industry in the
country. Rising costs, labor unrest, and a decrease in commodity prices, has
resulted in reduced profit margins from mining projects discouraging new
announcements.
Furthermore, the companies are adopting various organic and inorganic growth
strategies for sustaining their market position in the mining lubricants market. For
instance, in 2017, the Carmichael Coal Mining project in Australia by Adani Group is
the largest orders placed, valued at US$ 2.6 billion with Downer Mining for the
construction and operation of Carmichael mine. Some of the major companies
operating in the mining lubricant market are Royal Dutch Shell Plc, ExxonMobil
Corporation, BP Plc., Chevron Corporation, Total S.A., LUKOIL, Idemitsu Kosan Co.,
Ltd., Fuchs Petrolub SE, PetroChina Company Limited, Quaker Chemical
Corporation, Sinopec Limited, Bel-Ray Company, LLC, Whitmore Manufacturing,
Schaeffer Manufacturing Co Ltd., and Kluber Lubrication.
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Mining Lubricant Market report categorizes global market by equipment function, mining techniques, product, and end-use industry - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2018–2026

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