Mining Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Base Stock (Mineral Oil, and Others), Product Type (Engine Oil, Gear Oil, Hydraulic Fluids, Transmission Fluids, and Others), and Geography (Asia-Pacific, North America, South America, Europe, Middle-East and Africa)

Market Snapshot

Mining Lubricants Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >2 %
Mining Lubricants Market Key Players

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Market Overview

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.

Scope of the Report

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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Russia
Norway
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle-East
Saudi Arabia
Iran
United Arab Emirates
Rest of Middle-East
Africa
South Africa
Egypt
Rest of Africa

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Key Market Trends

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.
Mining Lubricants Market Key Trends

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 Market Growth Rate

Competitive Landscape

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.  

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growth in Coal Mining in Asia-Pacific

      2. 4.1.2 Expansions in African Mining Sector

    2. 4.2 Restraints

      1. 4.2.1 Slowdown in the Mineral Production in Europe

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Base Stock

      1. 5.1.1 Mineral Oil

      2. 5.1.2 Others (Synthetic, & Bio-based)

    2. 5.2 Product Type

      1. 5.2.1 Engine Oil

      2. 5.2.2 Gear Oil

      3. 5.2.3 Hydraulic Fluids

      4. 5.2.4 Transmission Fluids

      5. 5.2.5 Others (Greases, etc.)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Australia & New Zealand

        4. 5.3.1.4 Indonesia

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Russia

        4. 5.3.3.4 Norway

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Colombia

        4. 5.3.4.4 Rest of South America

      5. 5.3.5 Middle-East

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 Iran

        3. 5.3.5.3 United Arab Emirates

        4. 5.3.5.4 Rest of Middle-East

      6. 5.3.6 Africa

        1. 5.3.6.1 South Africa

        2. 5.3.6.2 Egypt

        3. 5.3.6.3 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BP p.l.c.

      2. 6.4.2 Chevron Corporation

      3. 6.4.3 ENGEN PETROLEUM LTD

      4. 6.4.4 ExxonMobil Corporation

      5. 6.4.5 FUCHS

      6. 6.4.6 LUKOIL

      7. 6.4.7 Suncor Energy Inc.

      8. 6.4.8 Royal Dutch Shell Plc

      9. 6.4.9 Sinopec (China Petroleum & Chemical Corporation)

      10. 6.4.10 Total

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Demand for High Performance Lubricants

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Mining Lubricants Market market is studied from 2016 - 2026.

The Mining Lubricants Market is growing at a CAGR of >2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Royal Dutch Shell Plc, BP p.l.c (Castrol), ExxonMobil Corporation , Total, Sinopec (China Petroleum & Chemical Corporation) are the major companies operating in Mining Lubricants Market.

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