The dynamic of the lubrication field is advancing at an intensity and pace which have not to be seen from the last few years in the industrial revolution. In many aspects, the roots of lubrication are solidly combined with the products and methods that are spawned from the last decades. The development in the lubricants can be seen in the type of lubricants that are developed in few years, and are now getting consumed by many Industries such as automotive, manufacturing, oil & gas, power, mining, and others. The various industrial lubricant that is commercially available includes gear lubricants, compressor lubricants, hydraulic lubricants, turbine lubricants, metalworking fluid, and more and others.
Currently, automotive industries are the top consumers, which is about 36% in terms of consumption. Lubricants such as gear lubricants, compressor lubricants, hydraulic lubricants, turbine lubricants, metalworking lubricants and others are majorly covering automotive and manufacturing applications. Among these lubricants, gear lubricants are majorly consumed by end-user industries such as automotive. The use of gear lubricants in synchromesh gearbox have increased the consumption in the automotive industry, which directly relates to increase the lubricants market growth.
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Geographically, in 2018, Asia-Pacific accounted for nearly 40% of the overall lubricants market. APAC region is dominating the lubricants market in terms of demand and consumption since the APAC region contains large number of developing countries, therefore the growth of the automotive sector can be seen with positive results. On the other side, North America region includes 29% and is the second largest lubricant consumer, the rise of new revolution of manufacturing industry such as ‘Industry 4.0’ and the increase in execution of robotics and automation have to lead the consumption of lubricants which helps to increase working duration of machines for longer durations, as a result, the production level is also getting increased.
The advancement of new technologies and high need to enhance plant reliability are altering the face of the lubricant today. Recent patent activities on lubricants have opened wide opportunities, to create the best lubricant for long duration purpose, the researchers are focusing on some specific factors to create such lubricants which contain correct viscosity, which are energy conservative and environmentally friendly, and which can replace grease with oil in mission-critical applications.
Indian Industrial Lubricants Market
Africa Lubricants Market
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