Forestry Lubricants Market By Product Type (Synthetic, Synthetic Blend, Bio-based, Mineral, Others), By Application (Engine, Transmission and Gears, Hydraulics, Greasing, Chain oils/saw guide oils, Paper machine oils, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The forestry lubricants market attained $4.2 billion in 2021, and is projected to reach $6.0 billion by 2031, growing at a CAGR of 3.7% from 2022 to 2031.
Forestry lubricants reduce the heat generated during movement of surfaces by minimizing friction between surfaces that are in direct touch. They are crucial for the efficient running of all machines and vehicles. In the forestry industry, lubricants are chosen based on their qualities to enhance machine performance and lower wear-down rates, which lowers machine maintenance costs. Global demand for agricultural and harvesting equipment has increased as people become more aware of mechanical farming.
The use of lubricants is crucial for equipment maintenance since harvesting and logging equipment is subjected to unfavorable operating circumstances such as heavy use, intense temperatures, and harsh weather. In order to maximize equipment performance, provide great wear and tear, maintain good energy economy, and offer extraordinary performance when subjected to difficult working conditions, lubricants are widely used to lubricate agricultural and forestry machinery. The demand for wood and wooden furniture is also rising as a result of improving living conditions and consistent expansion in the building industry. Strict regulatory guidelines for the forestry lubricants market have inhibited new competitors, which has hampered the market's expansion. The EPA and the EU Commission's strict regulations on the usage of environment friendly lubricants, as well as the fact that many firms look for the eco-label when buying lubricants, may have a negative effect on the profitability of the sector. Consumer interest in lubricants made from natural ingredients has recently increased due to growing sustainability awareness and heightened climate conscience. The rapid uptake of bio-based lubricants has consequently generated tremendous growth possibilities for sector players in the market.
The global forestry lubricants market is segmented into product type, application, and region. On the basis of product type, it is categorized into synthetic, synthetic blend, bio-based, mineral and others. On the basis of application, it is categorized into engine, transmission & gears, hydraulics, greasing, chain oils/saw guide oils, paper machine oils and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global forestry lubricants market Behran Oil Co., Chevron Corporation, Cortec Corporation, Elba Lubes, Exol Lubricants Limited, Exxon Mobil Corporation, Frontier Performance Lubricants Inc, FUCHS, Kluber Lubrication, Penine Lubricants, Phillips 66 Company, Repsol, Rymax Lubricants, Shell Plc, and TotalEnergies.
Other players operating in the market are Petro Canada Lubricants, Petronas Lubricants International (PLI), Klondike Lubricants Corporation, and Bioblend Renewable Resources.
COVID-19 Impact on the Market
The COVID-19 outbreak impacted the forestry lubricant market negatively. The market witnessed a sharp decline in the demand for forestry lubricant from end-use industry such as automobile.
Due to the lockdown and shutdown of production factories, the COVID-19 pandemic had a negative impact on market demand.
Due to the outbreak of the COVID-19 pandemic, all the forestry related activities were either suspended or stopped owing to the lockdown imposed by various government to prevent the virus from spreading. This has decreased the demand for forestry lubricants.
However, after the pandemic the forestry activities are back to its normal condition which will drive the demand for forestry lubricant during forecasted period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forestry lubricants market analysis from 2021 to 2031 to identify the prevailing forestry lubricants market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the forestry lubricants market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global forestry lubricants market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Transmission and Gears
Chain oils/saw guide oils
Paper machine oils
Rest Of Europe
Rest Of Asia-Pacific
Rest Of LAMEA
Key Market Players
behran oil company
exol lubricants limited
Exxon Mobil Corporation
Frontier Performance Lubricants Inc
Phillips 66 Company
Royal Dutch Shell Plc
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