What Has Been the Growth of the Construction Lubricants Market So Far?
The construction lubricants market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the size of the construction lubricants market in the prior years. The market is projected to increase from 2024's valuation of $13.85 billion to $14.9 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%.
The immense growth during the historical period is credited to factors like the swelling infrastructure development, urbanization patterns, industrialization, and worldwide economic progression.
What Are the Future Growth Projections for the Construction Lubricants Market?
The construction lubricants market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for construction lubricants is projected to experience robust expansion in the coming years, growing to $18.82 billion by 2029, with a 6.0% compound annual growth rate (CAGR).
This uptrend for the projected period can be credited to new-age construction methods, eco-friendly construction, digitization of construction machinery, and growth in emerging markets. Noteworthy market trends expected in this period encompass the advent of eco-friendly lubricants, bespoke formulae, strategic collaborations and partnerships, the increasing popularity of synthetic lubricants, and market amplification in the Asia-Pacific region.
What Factors Are Driving Growth In The Construction Lubricants Market?
The increase in construction and mining undertakings greatly influence the expansion of the construction lubricants market. Construction lubricant is a material that reduces friction amongst surfaces that are in interaction, thereby minimizing the heat generated during movement on such surfaces. Lubricating oil is predominantly used in various machineries, automobiles, and marine engines. For example, it is expected that the construction and mining equipment sector in India will experience a growth of 15-20% in 2021 and 5-10% in 2022. The first three months of 2021 are projected to have shown robust demand growth for equipment at 45-50%. These aspects are anticipated to considerably propel the construction lubricants market.
What Are The Main Segments Of The Global Construction Lubricants Market?
The construction lubricants market covered in this report is segmented –
1) By Basis Type: Hydraulic Fluid, Engine Oil, Gear Oil, Automatic Transmission Fluid (ATF), Grease, Compressor Oil
2) By Base Oil: Synthetic Oil, Mineral Oil
3) By Application: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Applications
Subsegments:
1) By Hydraulic Fluid: Mineral Oil-Based Hydraulic Fluids, Water-Based Hydraulic Fluids, Biodegradable Hydraulic Fluids
2) By Engine Oil: Mineral Engine Oil, Synthetic Engine Oil, Semi-Synthetic Engine Oil
3) By Gear Oil: Mineral Gear Oil, Synthetic Gear Oil
4) By Automatic Transmission Fluid (ATF): Conventional ATF, Synthetic ATF
5) By Grease: Lithium-Based Grease, Calcium-Based Grease, Complex Grease
6) By Compressor Oil: Mineral Compressor Oil, Synthetic Compressor Oil
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What Emerging Trends Are Influencing The Growth Of The Construction Lubricants Market?
The emergence of zinc-free or ashless lubricants is a significant trend in the construction lubricants market. Construction lubricants, which are utilized to minimize friction among moving components and improve machine efficiency in the construction sector, typically contain varying zinc levels. However, high levels of zinc have been linked historically to corrosion of certain metals, such as yellow metals, due to chemical interactions, as well as environmental damage. In contrast, zinc-free lubricants offer unparalleled protection against wear, rust, foam, oxidation, air and water entrainment, and deliver exceptional thermal stability. For example, these lubricants' formulation helps lower sludge by 85 to 99.5%, conserve more viscosity, lessen metal wear by 04-06%, and double the service life compared to ZDDP-based hydraulic oil.
Who Are the Key Players in the Construction Lubricants Market?
Major companies operating in the construction lubricants market include:
• ExxonMobil Corporation
• Royal Dutch Shell plc
• TotalEnergies SE
• China Petrochemical Corporation (Sinopec)
• Chevron Corporation
• PetroChina Company Limited
• FUCHS Petrolub SE
• PJSC LUKOIL
• China Petroleum & Chemical Corporation (Sinopec)
• Phillips 66 Company
• Morris Lubricants
• Penrite Oil
• Valvoline Inc.
• Liqui Moly GmbH
• Eni S. p. A.
• Addinol Lube Oil GmbH
• Indian Oil Corporation Limited
• Bel Ray Company LLC.
• Gulf Oil India
• Petroliam Nasional Berhad (Petronas)
• BP p. l. c.
• Gazprom Neft
• Idemitsu Kosan Co. Ltd.
• JXTG Nippon Oil & Energy Corporation
• Quaker Chemical Corporation
• The Lubrizol Corporation
• Warren Oil Company Inc.
• Klüber Lubrication
• Schaeffer Manufacturing Co.
What Is The Most Dominant Region In The Construction Lubricants Market?
Europe was the largest region in the construction lubrication market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
