(MENAFNEditorial) iCrowdNewswire - Nov 13, 2017
- By Type (Process Oils, Hydraulic Fluids, Gear Lubricants, Compressor Lubricants, Turbine Lubricants, Metalworking Fluids, Industrial Engine Oils, and Others), By End Use (Automotive Manufacturing, Power Generation, Process Industry, Food & Beverages, Mining, Rail, Construction, And Others)-forecast till 2023
Synopsis of Poland Industrial Lubricants Market
Industrial lubricants are the fluids that are utilized to diminish friction between adjacent materials or components. They can be either petroleum-based or water-based. Lubricants are crucial for appropriate functioning of machinery as it reduces wear and tear among different moving parts. It also reduces the interruption of operations, thereby enhancing the overall productivity of the machine. Industrial lubricants exhibit superior characteristics such as corrosion protection, demulsibility, and extended equipment life.
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Poland industrial lubricants market is expected to grow substantially over the forecast period owing to factors such as increasing construction output coupled with strong growth of mining industry. Significant increase in demand for manufactured goods coupled with expansion of manufacturing lines has generated rise in industrial lubricants consumption over the last five years. Industrial lubricants find wide application scope in variety of equipment to yield a desirable performance level. They are deployed in diverse end-use industries such as food & beverage processing, industrial machinery, automotive, and mining. However, the selection of lubricants is largely dependent on a variety of factors such as exposure to harsh chemicals and temperature.
Initiatives such as continuously evolving emission standards, improving engine technology, and norms about mitigated carbon footprints that are being adopted in European countries are touted to be among the key driving factors for industrial lubricants over the forecast period. The rising demand for grease in various end-use industries to maintain smooth working of machinery is expected to positively influence the market dynamics for industrial lubricants over the future. Additionally, the lubricants market is also expected to witness growth on account of rising demand from the food & beverage processing industry.
Regional Analysis
Initiatives such as continuously evolving emission standards, improving engine technology, and norms about mitigated carbon footprints that are being adopted are touted to be among the key driving factors for industrial lubricants over the forecast period. The rising demand for grease in various end-use industries to maintain smooth working of machinery is expected to positively influence the market dynamics for industrial lubricants over the future. Additionally, the lubricants market is also expected to witness growth on account of rising demand from the processing industry. The growth drivers for manufacturing sector in the country include availability of large pool of skilled labor and technological know-how along with favorable foreign investment norms. Robust growth in niche sectors, for instance, 3D printing and medical devices, is expected to positively support the industrial growth rate in these markets.
Key Findings
Poland Industrial Lubricants Market is projected to reach USD 195.3 million by 2023 with 3.29% CAGR during review period of 2017-2023. Process oils were the largest type segment in the industry, owing to their advantageous characteristics that foster greater operating efficiency & enhanced productivity in manufacturing applications. These oils also ensure low energy consumption, which has fostered their growth in developed, energy-conscious markets such as Poland. Construction was the largest application for industrial lubricants owing to the high demand for non-reactive, sustainable and compatible fluids to handle intricate characteristics of varied applications in a safe & efficient manner.
Segmentation
Poland industrial lubricants market is segmented on the basis of type and end-user. On the basis of type, market is segmented into process oils, hydraulic fluids, gear lubricants, compressor lubricants, turbine lubricants, metalworking fluids, industrial engine oils, and others. By end use, the market is segmented into automotive manufacturing, power generation, process industry, food & beverages, mining, rail, construction, and others.
Key Players
The key players operating in the market include Orlen Oil Sp.z o.o, LOTOS Oil Sp. Z o.o, Lubricant Consult GmbH, Klüber Lubrication Polska Sp. z o.o., Total S.A, Nynas AB, BP Europa SE, FUCHS, ExxonMobil Corporation, and Oemeta Polska Sp. Z o.o among others.
Intended Audience
- Manufacturers of industrial lubricants
- Suppliers and distributors of industrial lubricants
- Refiners and Petrochemical Producers
- Government, associations and industrial bodies
- Investors and Trade experts
- Consulting in chemical experts
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