Slideway Oils/Lubricants Market Forecast, Trend Analysis & Competition Tracking - Global Review: 2018 - 2028
The smooth and efficient functioning of industrial machines has led the manufacturers to opt for preventive maintenance measures to reduce operational costs as opposed to breakdown maintenance. Slideway oils/lubricants possess properties such as adhesion, anti-wear, and anti-slip. Slideway oils/lubricants are also expected to be resistant to foaming, corrosion, rusting, and oxidation. Since slideway oils/lubricants come in direct contact with industrial, processing, and metal working fluids, they should be readily demulsified for easy separation. Good adhesion properties have been reported to increase efficiency and machinery shelf life, reducing the inventory costs of slideway oils/lubricants.
Slideway oils/lubricants are used for the smooth working of tables, machine tool slideways, and feed mechanisms. Lubrication of hydraulic and gearbox systems also require slideway oils/lubricants due to their optimum viscosity. Horizontal slideways demand lower viscosity slideway oils/lubricants like ISO VG 32 and ISO VG 68, whereas, vertical and inclined slideways employ higher viscosity grade slideway oils/lubricants such as ISO VG 220.
The increasing demand from the construction, automotive, and industrial sectors is expected to push the demand for the slideway oils/lubricants market. The food and beverage sector is predicted to be a potential market for slideway oils/lubricants, owing to its budding machinery demand.
Growing investment in research and development has resulted in the introduction of innovative product grades in the market. In the near future as well, innovative products will drive the slideway oils/lubricants market. Skilled labor and sound technology will play a prominent part in maintaining the stable growth rate.
Strict government policies restrict slideway oils/lubricants product use, mainly in the processed food and beverage sector. This is likely to affect product growth. However, food grade lubricants are being developed for their application in the machineries installed in the food and beverage sector.
Among all product grades, ISO VG 68 is a much bigger product segment, and is utilized in large machines for circulating applications. It is also used in manufacturing gear oil and as a moderate duty hydraulic fluid. ISO VG 68 is followed by ISO VG 220 in terms of market volume share, as it is a better option for high pressure works and works requiring precision.
The slideway oils/lubricants market is segmented on the basis of base oil, slideway orientation, product grade, and end use industry.
On the basis of base oil, slideway oils/lubricants are segmented as:
On the basis of slideway orientation, slideway oils/lubricants are segmented into:
On the basis of product grade, slideway oils/lubricants are segmented as:
On the basis of end use industry, slideway oils/lubricants are segmented by:
Globally, Asia Pacific has been a dominant product market for slideway oils/lubricants due to the emerging automotive sector, mainly in countries like India and China. It is projected to grow at a considerable rate during the forecast period. Other countries like Indonesia, South Korea, Malaysia, Japan, and Taiwan are key regions for the growth of the slideway oils/lubricants market. Coupled with the increase in the automotive sector, increased investment on infrastructural progress, including rail and road networks, can be a factor that propels the slideway oils/lubricants market. Positive growth in the vehicle and components manufacturing sectors due to increased consumer demand will augment product demand for slideway oils/lubricants.
On account of industrialization along with promising government support, the demand for slideway oils/lubricants is expected increase in India. Recently, the Government of India has taken several initiatives to boost Foreign Direct Investment (FDI) in various manufacturing sectors. This will play a vital role in the slideway oils/lubricants market.
Among other regions, North America follows Asia Pacific, owing to the growing machinery demand in several end-use companies. Prospective growth in the construction sector, mainly in the United States of America, will have an encouraging impact on the slideway oils/lubricants market.
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