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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