Demand For Construction Lubricants Market To Record Heightened Growth During Period 2022 – 2031 : Fact.MR

The construction lubricant sales are estimated to surpass 6,400 KT in 2019, according to a recent study of Fact.MR. Resurgence in construction activities and growing investment in infrastructure development projects, particularly in emerging economies, continue to support growth of the construction lubricants industry.

“Extensive analysis of the end-user specifications and requirements continues to be vital for growth in the construction lubricants market. Manufacturers are vying to devise effective strategies for extension of their portfolios with new product developments, while expanding their core product lines”, states Fact.MR report.

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Key Segments Covered in the Construction Lubricants Industry Survey

• Construction Lubricants by Application :

  • Engine Oil
  • Gear Oil
  • Automatic Transmission Oil
  • Greases
  • Brake Fluid
  • Hydraulic Fluid

• Construction Lubricants by Base Oil :

  • Mineral Oil-based Construction Lubricants
  • Synthetic Oil-based Construction Lubricants

• Construction Lubricants by Sales Channel :

  • Automotive Dealers
  • Independent Garages & Service Stations
  • Retailers/Automotive Part Stores

• Construction Lubricants by Formulation Type :

  • Conventional Construction Lubricants
  • Bio-based Construction Lubricants

• Construction Lubricants by Equipment Type :

  • Excavators
  • Backhoe
  • Bulldozers
  • Loaders
  • Graders
  • Articulated Hauler
  • Soil Compactor
  • Cranes
  • Rigid Dump Trucks
  • Others

• Construction Lubricants by Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East & Africa

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Growing Demand for Zinc-Free Construction Lubricants – A Key Trend

Growing demand for zinc-free construction lubricants is emerging as a key trend in the industry, owing to their ability of preventing corrosion of construction machinery, and improving the equipment lifecycle. Additionally, zinc-free construction lubricants offer high performance even in high temperature, high pressure, and high moisture conditions, which in turn is fuelling their demand as an ideal type of construction lubricant.

The study opines that leading players in the construction lubricants market are focusing on offering high-performance products, which will help end-users to safeguard expensive machinery and reduce unwanted downtime. In order to serve a larger end-user base and effectively meet their specifications and requirements, players are making headway with value-added services and offerings.

Competitive Landscape

Prominent Construction Lubricants providers are reliant on partnerships, collaborations, acquisitions, and new software launches to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

• In December 2021, Aker BP announced its proposed acquisition of the oil and gas business of Lundin Energy, through a statutory merger. This combination would create the largest exploration and production company focused exclusively on the Norwegian Continental Shelf.
• In April 2022, Indian Oil Corporation announced to invest nearly Rs 840 crores in expanding its Petroleum, Oil, and Lubricant (POL) storage capacities, including setting up a Greenfield facility, in the Northeast.
  The company is planning to take its POL capacities to 5,530 Thousand Metric Tonnes Per Annum (TMTPA) by 2030 from the existing 3,160 TMTPA.