LONDON--(EON: Enhanced Online News)--Technavio’s latest report on the global industrial lubricants market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
“Vendors are manufacturing biodegradable lubricants using biodegradable sources such as vegetable oil, that are close to 100% biodegradable. Vendors are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts on the environment”
Thanikachalam Chandrasekaran, a lead analyst from Technavio, specializing in research on oil and gas sector, says, “A wide variety of grease and oil lubricants that are available in the market are being tailor-made to suit the exact requirements of each component that needs maintenance depending on specifications such as intervals and amount of lubrication.”
International legislations such as the US Food Safety Modernization Act (FSMA) and ISO 21469 focus on minimizing the presence of harmful substances in lubricants and increased inspection on hygiene factors associated with lubricants production for use in the food and beverage manufacturing process. This will have a global impact as it is also applicable to food producers that intend to ship their products to the US market. In addition, it will likely increase the demand for food-grade lubricants.
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The top three emerging trends driving the global industrial lubricants market according to Technavio energy research analysts are:
- Bio-based lubricants: eco-friendly source of fuel
- Emergence of food-grade lubricants
- Development of low viscosity lubricants for wind turbines
Bio-based lubricants: eco-friendly source of fuel
The development of environment-friendly lubricants due to the negative impact of petroleum-based lubricants on the environment is a significant trend in the global industrial lubricants market. Several tons of lubricants are washed off into the water streams due to leakages and careless disposal, thus leading to health related issues.
“Vendors are manufacturing biodegradable lubricants using biodegradable sources such as vegetable oil, that are close to 100% biodegradable. Vendors are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts on the environment,” says Thanikachalam.
Emergence of food-grade lubricants
There have been dramatic improvements in lubricants and this has enabled them to last longer and improve machine efficiency; however, fundamentally, the physical characteristics haven’t changed and this is a cause of concern if it gets mixed in food products. The food industry uses an array of equipment such as conveyor systems, pumps, mixers, compressors, and oven chain drives and they need proper lubrication to ensure good performance.
Such instances have led to stringent regulation and safety standards like the voluntary standard ISO 21469 to be applied in the food industry. The ISO 21469 is mainly concerned with the protection of consumers from being affected by contaminations of lubricants. The standard covers the entire process of lubricant production from packaging and transportation; the entire facility is audited prior to certification.
Development of low viscosity lubricants for wind turbines
Wind turbine gear oil is the lubricant placed in the gearbox of a wind turbine to reduce friction between the moving components in the box. To convert the rotational speeds of 30-60 rpm to 1,500-1,800 rpm, massive gears are required. The bearings in the gearbox are expected to take extremely high loads. The operating requirements of a gearbox vary widely.
Governments worldwide are realizing the potential and long-term benefits of utilizing wind energy. Within renewable energy, hydropower has been the most utilized. However, the past few years have been marked by drastic weather changes in different parts of the world. Many countries have been struggling with ongoing droughts. This has made the governments to diversify their energy mix further. To help the wind energy industry grow, governments are setting up favorable policies to help establish and sustain wind power against cheaper alternatives.
The key vendors are as follows:
- Total Lubricants
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- Global Automatic Lubrication System Market 2016-2020
- Global Marine Lubricants Market 2016-2020
- Global Lubricants Market 2015-2019
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