Demand for Mining Lubricant to Experience Strong Growth with Increase in Shipments of Nickel, Zinc, Gasoline, and Natural Gas

 

Mining Lubricant act as a technical barrier protecting various equipment whilst enabling higher machine reliability. These lubricants are used in a variety of mining machines such as hydraulic systems, turbines, compressors, and bearings. Petroleum demand significantly impacts the production of such lubricants and so will the shipments of nickel, zinc, gasoline, and natural gas. The demand for recycled motor oil, industrial lubricant oils, automotive lubricant oils, and synthetic lubricants is expected to increase in coming years.

The price of refined petroleum products has been increasing over the last few years. On the contrary, petroleum and mining lubricant have been decreasing over the years. There are several factors influencing this trend. Some of them include high capital costs and low availability of processing technologies for LPG, an increase in fuel consumption due to rising vehicle fleets, and tighter financial regulations over the supply of LPG.

Over the last few years, the demand for LPG from developing countries has been increasing, and the price has been consistent over this period. Recent research has confirmed that the demand for mining lubricant is expected to experience strong growth when new applications will come online. On the other hand, coal mining and oil spills have led to a drastic reduction in the consumption of LPG in some parts of the world, while demand for natural gas has been on the increase. Other areas such as Indonesia, Singapore, and the Gulf of Mexico have also become important suppliers for LPG. As a result, the demand for mining lubricants will be balanced over the next few years.

The demand for bio-based lubricants will be high in the coming years. As a result, the market for mining lubricant is expected to meet the increased demand of this product, until at least twenty-five years from now. At present, biodegradable lubrication is not commonly used in the mining equipment. However, this product can be developed and introduced into the mining equipment industry in the future. Therefore, it is important to develop the biodegradable lubrication in the near future.