Lubricant is a substance, usually organic, introduced to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also have the function of transmitting forces, transporting foreign particles, or heating or cooling the surfaces. The property of reducing friction is known as lubricity.
Market Analysis and Insights: Global Agricultural Lubricant Market
Due to the COVID-19 pandemic, the global Agricultural Lubricant market size is estimated to be worth US$ 1971.6 million in 2022 and is forecast to a readjusted size of US$ 2313.3 million by 2028 with a CAGR of 2.7% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Mineral Oil Lubricant accounting for % of the Agricultural Lubricant global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Engines segment is altered to an % CAGR throughout this forecast period.
The mineral oil lubricants segment is projected to be the largest type segment of the agricultural lubricants market from 2018 to 2025. Mineral oil lubricants are light mixtures of alkanes and cyclic paraffins, and are available in light and heavy grades depending on the usage and requirement. The low cost and versatility of these lubricants is expected to drive the mineral oil lubricants type segment during the forecast period.
Global Agricultural Lubricant Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Agricultural Lubricant Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Mineral Oil Lubricant
Synthetic Lubricant
Bio-based Lubricant
Segment by Application
Engines
Gear & Transmission
Hydraulics
Greasing
Implements
Others
By Company
Exxonmobil
Shell
Chevron
Total
BP
Fuchs
Phillips 66
Exol Lubricants
Witham Oil and Paint
Rymax Lubricants
Cougar Lubricants
Schaeffer Manufacturing
Pennine Lubricants
Unil Lubricants
Royal Precision Lubricants
Crown Oil
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina