Construction Lubricants Market - Opportunities, Share, Growth and Competitive Analysis and Forecast 2032

With a sharp focus on the global construction lubricants market, Fact.MR has effectively compiled vital knowledge indicating upcoming improvements in the target area. The recently published report titled "Construction Lubricants Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028" depicts robust statistics concerning macroeconomic factors, supply chain analysis, impact analysis, market value (US$ Mn), year-on-year growth comparison, and much more. Readers can learn more about the major players and their contributions to the global construction lubricants market.

According to this intelligence analysis, backhoe loaders sell more construction lubricants because they require more fleet maintenance than other types of construction equipment. Furthermore, the increase in demand for construction lubricants can be attributed to the recovery of building and infrastructure development projects in emerging nations. According to this Fact.MR analysis, the construction lubricants market is expected to grow at a volume CAGR of over 4% through 2028.

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Key Companies Profiled

• BP Plc.
• Indian Oil Corporation,
• TOTAL S.A.
• Balmer Lawrie & Co. Ltd.
• PetroChina Company Limited
• Berg Chilling Systems Inc.
• Chevron Corporation
• Eni S.p.A.

Popularity of Synthetic Oil Sustained due to Performance Abilities

According to the report, synthetic oil will continue to be the preferred construction lubricant, with global sales expected to exceed 3,300 KT in 2019. Such a high preference for synthetic oil is often driven by its improved performance capabilities as well as longer drain intervals. It should be noted that stringent pollution standards and regulations are also driving up demand for synthetic oils.

East Asia Imprints Control with Soaring Sales

According to this forecast, East Asia will maintain its dominance in the construction lubricants sector, since several growing economies have effectively increased their efforts toward infrastructure development. South Asia, on the other hand, has demonstrated its potential in the construction lubricants market, as governments in the key South Asian nations continue to exert a greater influence over construction and infrastructure activities.

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Sales of Zinc-Free Construction Lubricants Set to Hit Impressive Numbers

Zinc-free construction lubricants are becoming increasingly popular in the industry. The potential of zinc-free construction lubricants to avoid machinery corrosion and extend equipment lifecycles has boosted global sales. Furthermore, this particular lubricant kind performs well in high temperature, high moisture, and high pressure circumstances, fuelling its popularity as a superior construction lubricant.

This paper also discusses various other variables, such as the growing emphasis on performance optimization of construction equipment and its impact on encouraging robust investment in the industry. Such a move is expected to result in increased demand for construction lubricants, as high-quality specialty solutions for serving advanced selections of construction equipment and machinery acquire preferential attention.

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Competitive Landscape

To remain competitive in the worldwide market, leading construction lubricant providers rely on partnerships, collaborations, acquisitions, and innovative software launches. Leading market participants prioritize constant innovation to ensure a seamless client-customer interaction.

• Aker BP stated in December 2021 that it plans to acquire Lundin Energy's oil and gas division through a statutory merger. This combination would result in the largest exploration and production business dedicated only on the Norwegian Continental Shelf.
• In April 2022, Indian Oil Corporation announced plans to invest roughly Rs 840 crores in extending its Petroleum, Oil, and Lubricant (POL) storage facilities, including the establishment of a Greenfield facility in the Northeast.
• The corporation intends to increase its POL capacity to 5,530 Thousand Metric Tonnes Per Annum (TMTPA) by 2030, from the current 3,160 TMTPA.

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