Mining Lubricant Market with Detailed Analysis, Competitive landscape, Forecast to 2027

 

Market Overview

Mining can be carried out at the surface as well as underground. Rock drills, scoops, loader, hydraulic shovels, and draglines are used constantly in the operations of mining which causes wear and tear. This causes decrease in downtime and life of the equipment. Hence, mining lubricants play an important role in mining activities. In mining, the anti-wear performance and the need of good corrosion protection are mainly required to protect the metal surface. The mining lubricants are used to reduce costs by extending drain intervals, improving energy efficiency, and increasing equipment life. Due to the heavy duty nature of operations in mining sector, safe lifting of heavy loads is vital. Lubricants help keep the machinery in optimal shape. Improper lubrication leads to energy losses, seal issues, excess friction, and wear and tear on moving parts.

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Market Dynamics

Mining lubricants are available in various viscosities for different equipment function. Different lubricant are used in different equipment. The load on the equipment are different for surface mining and underground mining. Surface mining is preferred when the ores are located close to the surface of the earth. In underground mining, a hole is drilled to get the ore onto the surface, so more machinery are used for which more lubricants are required.

Depending on specific machine, application, operating condition and environment the mining lubricants are used. The mineral oil is better soluble with additives and it has high compatibility with seal and has lower cost. The synthetic lubricant are used at extreme environmental conditions and has higher cost than mineral oil. Furthermore, due to stringent environmental regulations and degradable property of bio lubricants, they are gaining preference over other lubricants.

Mining Lubricant Market Taxonomy

The mining lubricant market are classified,

On basis of equipment function, 

  • Engine

    Hydraulic

    Transmission

    Gear

On basis of mining techniques,

  • Surface Mining

    Underground Mining

On basis of product,

  • Bio-based mining lubricant

    Synthetic Lubricant

    Mineral Oil

Some of the major companies operating in the mining lubricant market are Royal Dutch Shell Plc, ExxonMobil Corporation, BP Plc., Chevron Corporation, Total S.A., LUKOIL, Idemitsu Kosan Co., Ltd., Fuchs Petrolub SE, PetroChina Company Limited, Quaker Chemical Corporation, Sinopec Limited, Bel-Ray Company, LLC, Whitmore Manufacturing, Schaeffer Manufacturing Co Ltd., and Kluber Lubrication.

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