The global mining lubricants market is likely to be driven by the important role played by it in the global mining industry.
Both surface and underground mining environments could be quite hard on the mining equipment. Draglines, hydraulic shovels, loaders, scoops, and rock drills are made to undergo continuous heavy loads, extreme pressure, and continuous operation. All of these can lead to heavy wear and tear over time. In an effort to reduce downtime and losses arising out of machinery replacement or maintenance, the utilization of high-end lubricants in proper applications is important. This propels growth of the global mining lubricants market over assessment tenure.
Whether one is mining for coal, oil sands, metals or minerals, the expectation with the equipment lies in its reliable performance and efficiency profit maximization. In addition, it is also needed to ensure safe operation at the site and protection of environment at large. As such, such factors are likely to fuel the expansion of the global mining lubricants market in years to come.
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Industrial lubricants are formulated specially so as to safeguard the mining equipment in extremely adverse conditions.
Based on the type of products, the global mining lubricants market is split into
- Bio-based Mining Lubricant
- Mineral Oil
- Synthetic Lubricant
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Mineral oil lubricants come cheaper than bio-based mining lubricant and synthetic lubricant. In addition, they make an offering of more working benefits at by providing the equipment with stable structure. Mining is of immense significance in many of the Asian countries like Indonesia, Australia, China, and India. Asia Pacific is estimated to rise rapidly over the tenure of assessment. Coal and iron are widely extracted resources in this part of the world.
In addition, iron is one of the most consumed metal in countries like China and India, which increases demand for iron ore in Asia Pacific region. It is as such likely to boost the growth of the global mining lubricants market in years to come.
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Global Mining Lubricants Market: Snapshot
In the recent past, the mining industry has transitioned from underground mining to open pit mining. Open pit mining is increasingly practiced worldwide, especially in developed countries. Numerous machines are used in mining including shovels, long wall machines, loaders, scoops, roof bolters, shuttle cars, draglines, and haul trucks. These machines are in-built with transmission system, bearings, wire ropes, and heavy gear system, which assist in their efficient performance. For these machines to function efficiently, they require to be lubricated periodically. Their performance should also get monitored time to time, to identify any mechanical fault. The lubrications used for these machines must have properties such as hydraulic stability, high boiling point, high viscosity index, good thermal stability, ability to absorb shock loads, resistance to oxidation, and corrosion resistance.
The market of mining lubricants relies on mining activities. Mining lubricant is therefore used in bearings, gear boxes, wire rope, and open gears. Open gear system can suffer pitting and wear due to insufficient lubrication. To lubricate open gear systems, synthetic lubrications are used. Synthetic lubrications do not contain heavy metals and are environment friendly. They are designed to protect open gear systems from heavy shock loads.