The global construction industry is expected to run massive growth in the coming years, on account of fundamental factors like urbanization and economic recovery at the international level. Looking at this exceptional growth across the construction industry, the adoption of construction lubricants is projected to shoot upwards. As per the newly published Fact.MR study, “Construction Lubricants Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2028”, the construction lubricants market is anticipated to register a volume CAGR of nearly 4% through 2028. This assessment is a subtle data source of valuable information associated to market trends, revenue share, Y-o-Y growth and several different related facets. Readers can further gain insight regarding the competitive landscape, which deliberately highlights the contribution of prime market players towards the development of the global construction lubricants market.
According to retrieved statistics from this Fact.MR report, the sales of construction lubricant are estimated to exceed 6,400 KT in 2019. The alms of supporting aspects such as resurgence in construction activities along with surging investment in infrastructure development projects across emerging economies, will continue to drive the construction lubricants industry in the near future.
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Demand for Zinc-Free Construction Lubricants Set to Motivate Market Growth
It has been observed that growing demand for zinc-free construction lubricants is bolstering to become a key trend in the industry, owing to their aptitude of preventing corrosion of construction machinery, together with a stern focus to improve equipment lifecycle. Furthermore, zinc-free construction lubricants deliver high performance regardless of high temperature, high moisture conditions and high pressure. All these factors taken into consideration are expected to fuel their demand as a suitable construction lubricant.
Preference for Environment-Friendly Alternatives
Quite recently, the various manufacturers involved in the construction lubricant market have shifted their focus towards the diversification of product portfolios through the incorporation of bio-based variants. This trend has been highly motivated due to end-user preference toward environment-friendly products. In addition, growing need for performance optimization of construction equipment is predicted to fuel robust investments across the target industry. As a result, high demand for construction lubricants is expected, with swelling marketplace for high-quality specialty solutions.
East Asia & South Asia to Surface as Revenue Generating Centers
East Asia is likely to retain its leading status across the construction lubricants industry. The target region is known to be hub for several emerging economies which are dedicated towards infrastructure development. On the other hand, South Asia is expected to climb upwards to emerge as the highest growth market for construction lubricants, since governments across the concerned region are putting efforts to boost construction & infrastructure landscape.
Shifting Cruel Oil Prices Posing Threat to Market Growth
According to this Fact.MR study, fluctuations across crude oil prices is marked as a key challenge in the construction lubricants market. It is vital to know that construction lubricants are primarily petrochemical products produced from Brent crude oil. Hence, increasing prices of crude oil are leading to volatility of the raw material prices, thus creating major challenges for the manufacturers across the construction lubricants market.
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The report finally concludes with a comprehensive discussion about the primary manufacturers operating in the global construction lubricants market. Some of the leading players included in the report are BP plc, TOTAL S.A., Balmer Lawrie & Co. Ltd., Indian Oil Corporation, PetroChina Company Limited, Chevron Corporation, Berg Chilling Systems Inc. and Eni S.p.A.
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