Downturn in mining related investments in Australia and South Africa is restraining growth of Mining Lubricants Market
Lubricants are materials that help reduce the friction between moving parts or surfaces to enhance the efficiency of machines. They are formulated using various base oils including mineral oil, synthetic oil, and bio-based oil. Lubricants are used in various industries such as automotive, manufacturing, construction, and mining among others. Request Report Sample @ http://bit.ly/2X18uZg Mining lubricants are used to protect the equipment from wear and tear by reducing friction, also to reduce heat and electrical resistivity. The global 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. The growth of the mining industry, increase in the demand for coal in electricity generating applications, and the growing demand for base metals such as copper, nickel, lead, zinc, and others are fueling the mining lubricants market. Among types, mineral oil is the fastest-growing...