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The coal mining segment accounted for the largest share of the global mining lubricants market

 

The Mining Lubricants Market was valued at USD 1.95 Billion in 2016, and is projected to reach USD 2.56 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022.

Browse 165 market data tables and 51 figures spread through 174 pages and in-depth TOC on "Mining Lubricants Market”.

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The mineral oil segment led the mining lubricants market, in 2016. Low price of mineral oil lubricants is expected to drive the market for this segment during the forecast period. Asia-Pacific is the largest market for mineral oil. The growth of this segment in Asia-Pacific is attributed to the increased consumption of mineral oil in the coal mining industry in emerging countries such as India and China.


The coal mining segment led the global mining lubricants market in 2016, due to the high consumption of heavy load equipment in the coal mining industry. The coal mining industry accounted for the largest share of 56.3%, in terms of value, of the overall mining lubricants market in 2016. The coal mining segment is driven by the improved quality high performance lubricants, which offer high viscosity index, better corrosion prevention, and high resistance to oxidation.

Asia-Pacific was the largest market for the global mining lubricants market in 2016

Asia-Pacific was the largest market for mining lubricants in 2016, having accounted for a share of 43.4% (by value) and is estimated to grow at the highest CAGR during the forecast period. The high growth of the emerging economies makes Asia-Pacific an attractive market for mining lubricants. The increasing coal mining activities in China and India are primarily responsible for the high consumption of mining lubricants.

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Key players operational in the mining lubricants market include Royal Dutch Shell Plc. (Netherlands), ExxonMobil Corporation (U.S.), BP Plc. (U.K.), Chevron Corporation (U.S.), LUKOIL (Russia), Idemitsu Kosan Co., Ltd. (Japan), and Total S.A. (France), among others.

 

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