Mining lubricants play a crucial role in decreasing downtime resulting from machinery maintenance or replacement. Equipment can be prone to wear and tear owing to extreme pressure, heavy loads, and continuous operation. These lubricants can, therefore, aid in reducing the adverse impacts of wear and tear.
Mining lubricants can be categorized into mineral oil lubricants, bio-based lubricants, and synthetic lubricants. They find application in iron ore mining, coal mining, rare earth mineral mining, precious metals mining, bauxite mining, and others.
Lubricants with Better Hydrophilic Properties and Solvency
Mineral oil lubricants are derived from distillation of crude oil. Most often, they can be obtained as a byproduct of refining crude oil to produce gasoline or other petroleum products. These are easy to dispose and reuse with an existing infrastructure in place. In 2016, mineral oil lubricants accounted for the largest market share due to their compatibility with metals, coating, and seals, which can be further used to make semi-synthetics with the help of distillation process. These lubricants are comparatively less expensive than synthetic and bio-based lubricants and enable improved operational advantage to equipment by supplying a stable structure.
This segment is also expected to exhibit significant growth over the forecast period (2014 to 2025) due to their capability to perform at standard temperatures without advanced equipment. They also present solvency and hydrophilic properties. However, strict government guidelines pertaining to environment protection are expected to increase the demand for bio-based lubricants in the years to come.
Growing inclination toward automated lubricants systems is expected to create lucrative opportunities for manufacturers and help them attract more customers. This can be attributed to the fact that automatic lubrication systems provide exact amount of lubricant such as oil or grease to moving parts such as bearings for reducing friction and wear. Additionally, these systems offer the advantage of lubricating multiple points from any mounted position and can be utilized in mobile as well as static equipment.
Easy to use aerosol lubricant sprays are another novel development in the market, offering high flexibility for handling lubrication problems faced by operators. These sprays provide several benefits including water resistance, anti-wear, and protection against oxidation as well as corrosion. For instance, Bel-Ray recently developed a heavy-duty aero spray called Molylube Open Gear and Rope Lubricant. This product can be used in chains, cables, pins and bushings, general industrial open gears, drive chains, and sliding surfaces.
According to Grand View Research, Inc., the worldwide mining lubricants market is likely to achieve around USD 3.09 billion by 2025. Mounting drilling and exploration activities worldwide are expected to boost market growth. Moreover, rising demand for mining equipment is estimated to increase the demand for mining lubricants.
Asia Pacific is estimated to grow at a significant rate due to rapid industrialization and rising consumer preference for white metal in this region.
Some of the leading companies operating in the market are ExxonMobil Corp., Chevron Corp., Sinopec, Lukoil., and BP Plc.
In-Depth Research Report On Mining Lubricants: