Specialty Lubricants Market

Specialty Lubricants Market: Overview

• Specialty lubricants are superior-quality lubricants that exhibit multi-functionalities. These are particularly produced using advanced technologies.
• Specialty lubricants essentially excel in the areas where traditional lubricants do not. For instance, friction-specialty lubricants are preferred when equipment is laden with excessive stress and conventional lubricants fail to ease operations.
• Most of the specialty lubricants exhibit unique characteristics such as low molecular weight, chemical inertness, hydrogen-free profile, reduced toxicity, higher thermal stability, enhanced lubricity, long shelf-life, and higher dielectric strength. These properties make specialty lubricants niche and value-added products.
• Perfluoropolyether (PFPE) based specialty lubricants do not provide solubility even at higher temperatures in chemicals including chlorine-based oxidants; oxygen, concentrated hydrogen peroxide; organic and inorganic oxidizing agents; nitric acid; and kerosene.

Key Drivers of Specialty Lubricants Market

• Specialty lubricants improve performance output with lesser fuel consumption, thus providing cost effectiveness
• Key factors driving the Specialty Lubricants Market include industrialization in emerging economies, rise in construction activities, and subsequently increasing demand for highly advanced equipment
• Demand for specialty lubricants is projected to be high in various industries in the near future, particularly due to their unique characteristics such as non-flammability, long life, good lubricity, and high dielectric strength
• Non-reactive lubricants, a category of specialty lubricants, exhibit exceptional chemical inertness to highly reactive oxidizers and fuels, reactive gases, strong acids, and alkalis. Non-reactive lubricants are engineered for application areas accustomed to lubrication difficulties caused due to exposure to chemicals, heat, solvents, corrosion, toxicity, and flammability.
• Demand for specialty lubricants is anticipated to be high in the chemical manufacturing industry owing to their suitability as sustainable processing fluids

Specialty Lubricants Market: Product Type and End-use Industry Segments

• Based on product type, the global specialty lubricants market can be divided into bio based, mineral oil based, and synthetic oil based
• Demand for synthetic specialty lubricants is estimated to be high in the near future. Leading manufacturers have been increasingly investing in specialty lubricants. For instance, Dow’s UCON fluids and lubricants are PAG-based synthetic portfolios that are suitable for turbine fluids, compressor fluids, hydraulic fluids, calendar lubricants, bearing and compressor oils, metal working lubricants, and lubricant concentrates.
• Dow’s SYNALOX water soluble chemistries are extensively used in formulations for chemical fiber spin finishes and industrial lubricants.?Water-based specialty lubricants provide improved wetting, low surface tension, and low foaming and improved penetration characteristics. These specialty lubricants are soluble in cold water, yet exhibit inverse solubility at elevated temperatures.
• Several industrial inert greases are based upon polytetrafluoroethylene (PTFE) base oils. Greases are blended with selected polytetrafluoroethylene (PTFE) thickeners, which provide chemically inert properties.
• Based on end-use industry, the global specialty lubricants market can be classified into chemical, transportation, aerospace & aviation, oil & gas, and others (including  electrical & electronics and nuclear)

North America to be Key Region of Global Specialty Lubricants Market

• In terms of region, the global specialty lubricants market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• China’s leading position in various end-user industries such as chemicals, aerospace, and transportation is likely to propel the Specialty Lubricants Market in Asia Pacific in the near future.

Key Manufacturers Operating in Specialty Lubricants Market

The global specialty lubricants market was highly fragmented in 2018. Key manufacturers operating in the global market include:

• Exxonmobil Corporation
• Chevron Corporation
• Royal Dutch Shell
• Castrol Limited
• Total S.A.
• Dow
• CONDAT
• The Chemours Company
• Gemtek Products
• Henkel AG & Company, KGaA
• Nye Lubricants, Inc. 
• Solvay
• Halocarbon Products Corporation
• Gelest Inc.
• Klüber Lubrication
• HUSK-ITT CORPORATION
• LUBRILOG

Global Specialty Lubricants Market: Research Scope

Global Specialty Lubricants Market, by Product Type

• Bio Based

• Mineral Oil Based
• Synthetic Oil Based

Global Specialty Lubricants Market, by End-use Industry

• Automotive
• Chemical
• Transportation
• Aerospace & Aviation
• Oil & Gas
• Others (including Electrical & Electronics and Nuclear)

Global Specialty Lubricants Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

• Market segments and sub-segments
• Market trends and dynamics
• Supply and demand
• Market size
• Current trends/opportunities/challenges
• Competitive landscape
• Technological breakthroughs
• Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market

Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.