Mining Lubricant Market insights

Mining Lubricant Market - Global Industry Insights,
Trends, Size, Share, Outlook, and Opportunity Analysis,
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. Due to the heavy
duty nature of operations in mining sector, safe lifting of heavy loads is vital.
Lubricants help keep the machinery in optimal shape. Improper lubrication
leads to energy losses, seal issues, excess friction, and wear and tear on moving
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.
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.
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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
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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, 2017–2025