Market Size of Solid/Dry Lubricants Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 18.93 kilotons |
| Market Volume (2029) | 21.36 kilotons |
| CAGR (2024 - 2029) | 2.45 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Solid Dry Lubricants Market Analysis
The Solid/Dry Lubricants Market size is estimated at 18.93 kilotons in 2024, and is expected to reach 21.36 kilotons by 2029, growing at a CAGR of 2.45% during the forecast period (2024-2029).
The COVID-19 crisis heavily impacted the global automotive supply industry, as both the production and sales of motor vehicles came to a sudden halt in most regions. These work stoppages led to a loss in the production of millions of vehicles across the world. The automobile industry comes with a direct effect on the lubricants market. However, the market growth picked up steadily. It is owing to increased automotive and other construction activities after the lifting of restrictions in the second half of 2021.
- Over the medium term, the growing manufacturing industry in Asia-Pacific and growing demand for spray application in dry lubricants are significant factors driving the growth of the market studied.
- On the other hand, factors limiting the growth of the market include stringent government regulations on raw materials and the modest impact of electric vehicles (EVs) in the future. These are expected to come with a negative influence on the demand for dry lubricants.
- Nevertheless, the continuous advancements in technology and increasing environmental consciousness are likely to create lucrative growth opportunities for the global market soon.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
