광업용 윤활유 시장 규모, 점유율, 성장 분석 : 제품별, 용도별, 지역별 - 산업 예측(2025-2032년)

Mining Lubricants Market size was valued at USD 17.67 Billion in 2023 and is poised to grow from USD 18.5 Billion in 2024 to USD 26.72 Billion by 2032, growing at a CAGR of 4.7% during the forecast period (2025-2032).

Mining lubricants are essential for the optimal performance and longevity of heavy machinery and vehicles in the mining industry, which operates under extreme conditions of pressure, temperature, dust, and moisture. These specialized lubricants not only reduce friction but also perform critical secondary functions such as cleaning and cooling engine components, and preventing rust and corrosion on turbines, pistons, and gears. This growth is driven by increased demand for high-quality, high-performance lubricants that enhance equipment efficiency and fuel economy. Continuous technological advancements have led to the development of lubricants that extend the lifespan of machinery, reduce carbon emissions, and comply with evolving environmental regulations. The rapid industrialization and expansion of infrastructure in emerging economies have significantly boosted the mining sector, thereby increasing the demand for mining lubricants. In 2021, the global consumption of mining lubricants reached 1,952 kilotons. The coal mining segment remains the largest consumer, reflecting the ongoing reliance on coal for electricity generation and industrial processes. Synthetic lubricants have gained prominence due to their superior performance under extreme conditions, accounting for 53.04% of the revenue share in 2021. Additionally, there is a growing interest in bio-based lubricants, driven by environmental concerns and stringent regulatory standards aimed at reducing carbon emissions. Geographically, the Asia-Pacific region leads the market, attributed to its abundant natural reserves and robust industrial activities. North America also holds a significant share, supported by increasing mining activities and a strong demand for pure minerals. Major players in the mining lubricants market, including Exxon Mobil Corporation, Shell plc, and Chevron Corporation, are focusing on strategic partnerships and continuous innovation to meet the evolving demands of the mining industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Mining Lubricants market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Mining Lubricants Market Segments Analysis

Global Mining Lubricants Market is segmented by Product, Application and region. Based on Product, the market is segmented into Mineral Oil, Synthetic and Bio-based. Based on Application, the market is segmented into Coal Mining, Iron Ore Mining, Bauxite Mining and Rare Earth Mineral Mining. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Mining Lubricants Market

The mining industry has experienced significant growth in recent years, driven by rapid industrial development and the adoption of advanced technologies. The integration of Industry 4.0 technologies-such as the Industrial Internet of Things (IIoT), advanced sensors, and data analytics-has revolutionized mining operations, enhancing safety, efficiency, and productivity. Mining serves as a critical supplier of raw materials to various sectors, including automotive, manufacturing, steel, aluminum, construction, electronics, and glass. The expansion of these industries is expected to continue, thereby increasing the demand for mining activities.

Restraints in the Mining Lubricants Market

Investment in the mining sectors of Australia and South Africa is experiencing a decline due to various challenges. In Australia, factors such as fluctuating commodity prices, escalating operational costs, and regulatory uncertainties have made the country less attractive to resource investors. BHP has highlighted that delays in project permitting and regulatory inefficiencies are significant barriers to investment. Similarly, South Africa's mining industry faces obstacles including labor disputes, political instability, and inadequate infrastructure. These issues have led to a stagnation in mining output since 2019, with high operating costs, inefficient logistics, and electricity disruptions further exacerbating the situation. Additionally, the rise of organized crime in abandoned gold mines has contributed to the sector's challenges. Collectively, these factors have resulted in a slowdown of new mining projects and hindered the expansion of existing operations in both regions.

Market Trends of the Mining Lubricants Market

As mining operations become increasingly complex, the demand for high-performance lubricants capable of withstanding extreme conditions has risen. These advanced lubricants play a crucial role in minimizing equipment downtime, enhancing productivity, and extending machinery lifespan. By reducing friction and wear, they contribute to improved fuel efficiency and lower maintenance costs, thereby optimizing overall operational efficiency. To address this growing need, lubricant manufacturers are developing formulations with advanced additives and synthetic base oils. These innovations offer superior wear protection, thermal stability, and corrosion resistance compared to traditional mineral oil-based lubricants. Moreover, the enhanced performance of synthetic lubricants aligns with the mining industry's focus on sustainability by reducing emissions and supporting environmental initiatives.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Drivers & Opportunities
  • Restraints & Challenges
• Porters Analysis
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Market Attractiveness Index, 2024
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis
• Case Studies
• Regulatory Landscape

Global Mining Lubricants Market Size by Product & CAGR (2025-2032)

• Market Overview
• Mineral Oil
• Synthetic
• Bio-based

Global Mining Lubricants Market Size by Application & CAGR (2025-2032)

• Market Overview
• Coal Mining
• Iron Ore Mining
• Bauxite Mining
• Rare Earth Mineral Mining

Global Mining Lubricants Market Size & CAGR (2025-2032)

• North America (Product, Application)
  • US
  • Canada
• Europe (Product, Application)
  • Germany
  • Spain
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific (Product, Application)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Latin America (Product, Application)
  • Brazil
  • Rest of Latin America
• Middle East & Africa (Product, Application)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2024
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2024
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

• Royal Dutch Shell Plc (Netherlands)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• BP p.l.c. (UK)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• ExxonMobil Corporation (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• TotalEnergies SE (France)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Sinopec (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Chevron Corporation (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• FUCHS Petrolub SE (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• PetroChina Company Limited (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Valvoline Inc. (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Amsoil Inc. (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• LUKOIL (Russia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Suncor Energy Inc. (Canada)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• ENGEN PETROLEUM LTD (South Africa)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Kluber Lubrication (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Whitmore Manufacturing LLC (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Quaker Chemical Corporation (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Petro-Canada Lubricants Inc. (Canada)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Phillips 66 (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Repsol S.A. (Spain)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Gazpromneft-Lubricants Ltd. (Russia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendations