The global market is estimated to gain traction significantly due to the constan

Posted by rohan on September 11th, 2019

Market Overview:

The market of mining lubricants relies on mining activities. Mining lubricant is hence employed in bearings, gear boxes, wire rope, and open gears. Open gear system can suffer pitting and wear owing to insufficient lubrication. To lubricate open gear systems, artificial lubrications are employed. Artificial lubrications do not contain heavy metals and are eco-friendly. They are designed to protect open gear systems from heavy shock loads. Mining lubricants are employed in machines used for mining of iron ore, coal ore, and other earth minerals. The mining lubricants market was worth at USD 1.95 Billion in 2018, and is estimated to reach USD 2.56 Billion by 2023, at a CAGR of 4.5% from 2018 to 2023.

Market drivers and restraints:

The world mining lubricants market is expected to gain traction significantly owing to the constant rising demand from the mining industries. The mining lubricants market is driven by many factors such as, fast growing industrialization, escalated production and extraction of mineral resources via mining activities that are responsible for the growth of the mining lubricants in developed and developing regions.

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Report segmented as:

By end user:

  • Coal mining
  • Iron ORE mining
  • Bauxite mining
  • Rare earth mineral mining
  • Precious metals mining

By application:

  • Unsaturated polyester resin
  • Antifreeze & functional fluid
  • Food
  • Pharmaceuticals and cosmetics

Geographical analysis:

On the basis of geography, the mining lubricants market is segregated into Latin America, Asia Pacific, Europe, North America and the Middle East and Africa. The Asia Pacific is a unique center point for the coal and iron metal mining enterprises.

Important market players:

Major players operating in the mining lubricants market are Total Oil (Australia), Exxon Mobile Lubricants & Specialties (the U.S.), Royal Dutch Shell Plc. (the Netherlands), Chevron (the U.S.), Perma-tec GmbH & Co. KG (Germany), Quaker Chemical Corporation (the U.S.), Petro Canada Lubricants Inc (Canada), BP Lubricants (the U.S.), Conoco Phillips Inc (the U.S.), Aarna Lube Private Limited (India), Lubrication Engineers, Inc. (the U.S.), Engen Botswana Limited (South Africa), Vivo Energy (Mauritius), and Interlube Limited (the U.K.). 

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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Joined: September 20th, 2017
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