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
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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)
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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.