Mining Lubricants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mining Lubricants Market Analysis
The market for mining lubricants is expected to grow at a CAGR of more than 2% during the forecast period. Major factors driving the market studied are the growth in coal mining activities in Asia-Pacific and expansions in the African mining sector. On the other hand, the ongoing slowdown in mineral production in Europe is expected to hinder the growth of the market studied for a brief period.
- Engine oil segment dominated the market and is expected to grow at a steady rate during the forecast period owing to the steady growth in mining and mineral production activities in few countries.
- Asia-Pacific dominated the market across the globe with the largest consumption from the countries such as China and India.
Mining Lubricants Market Trends
This section covers the major market trends shaping the Mining Lubricants Market according to our research experts:
Expansions in African Mining Sector
- Due to rise in population and a persistent demand for minerals and their derivatives in different end-user industries, the African mining industries have been witnessing a surge in investments, owing to the presence of heavy mineral deposits in the region.
- West Africa is well-endowed with mineral resources, and many world-class deposits have been discovered in this during the past few years. For instance, gold is a key source resource obtained in the region, with South Africa, Ghana and Sudan leading the production of gold, among all the African countries. The region is also key source of other resources such as iron ore, bauxite, diamonds, phosphate, and uranium. Furthermore, its untapped mineral wealth deposits provide exceptional potential for greenfield development.
- The investments in the mining sector in countries such as South Africa and Congo have increased in 2019, majorly in the production of base metals. The recovery of the prices of several commodities have further augmented the production and investment scenario in the African mining sector recently.
- Changes are also being observed with the gradual adoption of newer technologies, services and renovation requirements for the existing mining equipment in the region.
- Such factors are expected to augment the growth of the mining lubricants market during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is the base for global mining powerhouses such as China, Australia, and India and a large proportion of the demand for mining lubricants can be attributed to these countries.
- The exploration and production of coal mining in the Asia-Pacific has been fluctuating in the past five years. However, the production of coal in the Asia-Pacific region has witnessed a growth about 6% in 2018.
- Despite a slight decline in the coal production in Japan and South Korea lately, countries such as Indonesia, Mongolia, and India have been fueling the growth of coal mining sector in the region.
- The overall production of minerals in China has rebounded since 2016. However, the demand for coal in China has declined in 2019 and other factors such as ongoing trade tensions have created an uncertain atmosphere over the growth of the country's mining sector in near future.
- The mining industry production in India is estimated to have exhibited a stable growth. The outlook for the mining production growth in the country remains positive, given the country surpasses few hurdles in the form of high taxations, and policy implementation.
- Australia's mining sector has been expanding owing to growth in investments and start up of new projects in the past five years. The country is expected to be a key driver to support the growth of the mining lubricants in the region during the forecast period.
- Despite a few setbacks in recent times, the Asia-Pacific region is projected to remain the largest consumer of mining lubricants through the forecast period.
Mining Lubricants Industry Overview
The global mining lubricants market is partly consolidated with the global leaders having their strong presence in almost all the major geographies. The major companies include Royal Dutch Shell Plc, ExxonMobil Corporation, BP p.l.c, Total and Sinopec.
Mining Lubricants Market Leaders
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Royal Dutch Shell Plc
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BP p.l.c (Castrol)
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ExxonMobil Corporation
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Total
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Sinopec (China Petroleum & Chemical Corporation)
*Disclaimer: Major Players sorted in no particular order
Mining Lubricants Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growth in Coal Mining in Asia-Pacific
- 4.1.2 Expansions in African Mining Sector
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4.2 Restraints
- 4.2.1 Slowdown in the Mineral Production in Europe
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Base Stock
- 5.1.1 Mineral Oil
- 5.1.2 Others (Synthetic, & Bio-based)
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5.2 Product Type
- 5.2.1 Engine Oil
- 5.2.2 Gear Oil
- 5.2.3 Hydraulic Fluids
- 5.2.4 Transmission Fluids
- 5.2.5 Others (Greases, etc.)
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Australia & New Zealand
- 5.3.1.4 Indonesia
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Russia
- 5.3.3.4 Norway
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Colombia
- 5.3.4.4 Rest of South America
- 5.3.5 Middle-East
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 Iran
- 5.3.5.3 United Arab Emirates
- 5.3.5.4 Rest of Middle-East
- 5.3.6 Africa
- 5.3.6.1 South Africa
- 5.3.6.2 Egypt
- 5.3.6.3 Rest of Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 BP p.l.c.
- 6.4.2 Chevron Corporation
- 6.4.3 ENGEN PETROLEUM LTD
- 6.4.4 ExxonMobil Corporation
- 6.4.5 FUCHS
- 6.4.6 LUKOIL
- 6.4.7 Suncor Energy Inc.
- 6.4.8 Royal Dutch Shell Plc
- 6.4.9 Sinopec (China Petroleum & Chemical Corporation)
- 6.4.10 Total
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Demand for High Performance Lubricants
- 7.2 Other Opportunities
Mining Lubricants Industry Segmentation
The Mining Lubricants market report include:
| Base Stock | Mineral Oil | |
| Others (Synthetic, & Bio-based) | ||
| Product Type | Engine Oil | |
| Gear Oil | ||
| Hydraulic Fluids | ||
| Transmission Fluids | ||
| Others (Greases, etc.) | ||
| Geography | Asia-Pacific | China |
| India | ||
| Australia & New Zealand | ||
| Indonesia | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Russia | ||
| Norway | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| Geography | Middle-East | Saudi Arabia |
| Iran | ||
| United Arab Emirates | ||
| Rest of Middle-East | ||
| Geography | Africa | South Africa |
| Egypt | ||
| Rest of Africa |
Mining Lubricants Market Research FAQs
What is the current Mining Lubricants Market size?
The Mining Lubricants Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Mining Lubricants Market?
Royal Dutch Shell Plc, BP p.l.c (Castrol), ExxonMobil Corporation , Total and Sinopec (China Petroleum & Chemical Corporation) are the major companies operating in the Mining Lubricants Market.
Which is the fastest growing region in Mining Lubricants Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mining Lubricants Market?
In 2024, the Asia Pacific accounts for the largest market share in Mining Lubricants Market.
What years does this Mining Lubricants Market cover?
The report covers the Mining Lubricants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mining Lubricants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mining Lubricants Industry Report
Statistics for the 2024 Mining Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mining Lubricants analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
