In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global construction lubricants market considering 2013-2017 as the historic year and 2018–2028 as the stipulated time frame. The business report highlights the drivers, restraints, opportunities and trends affecting construction lubricants market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
The construction lubricants market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing construction lubricants?
- How does the global construction lubricants market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2028?
- What innovative products are being introduced by the players in the global construction lubricants market?
- Which regions are showing the fastest market growth?
The construction lubricant sales are estimated to surpass 6,400 KT in 2019, according to a recent study of FactMR. Resurgence in construction activities and growing investment in infrastructure development projects, particularly in emerging economies, continue to support growth of the construction lubricants industry. According to the report, synthetic oil will continue to be preferred over mineral oil, with global sales estimated to exceed 3,300 KT in 2019. Marked preferences for synthetic oil are on account of its superior performance capabilities and higher drain intervals. Stringent emission norms & regulations are also driving demand for synthetic oils.
East Asia is likely to emerge as a highly attractive market for construction lubricants, driven by rapid industrialization across developing economies in the region. In addition, increasing government as well as foreign investments apropos of the construction activities is further underpinning growth of East Asia construction lubricants market.
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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 construction lubricants market was valued at USD 12.04 billion in 2016 and is projected to reach USD 15.64 billion by 2022, at a CAGR of 4.37% during the forecast period.
Construction lubricants are a type of lubricants used to reduce friction between moving parts or surfaces and to enhance the efficiency of the machines used in the construction industry.
They are formulated using various base oils such as mineral oil and synthetic oil.
In this report, 2016 has been considered as the base year for the study of the construction lubricants market, while the forecast period is 2017–2022.♦ Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=163720562Market DynamicsDriversHigh growth of construction industry in Asia-Pacific and Middle East & AfricaGrowing demand for high quality lubricantsRise in automation in construction IndustryHigh growth of construction industry in Asia-Pacific and Middle East & AfricaThere has been massive industrial growth in APAC since the past few years, and this is expected to continue during the next five years.
The domestic and foreign investments in the construction industry have been consistently growing over the past decade in the region, which is fueling the growth of the construction lubricants market.
China, home to almost 20% of the global population, has surpassed the US in the consumption of lubricants.
