Plastic Lubricants Market value projected to expand by 2027
Introduction: Plastic Lubricants Market
A lubricant is a material, available in the form of organic substance, and is applicable where there is need of reduction of friction between two surfaces. Lubricant can reduces the heat generated between two contacting, interlocking or meshing surfaces. Along with this, lubricants have capability of transmitting, transporting particles along with it within a system. This property which can reduce the friction is called as lubricity. Plastic lubricants are those lubricants which are silicone fluids and they are free from water or solvents. The silicon in the lubricants plays a vital role as it reduces the coefficient of friction between rubber and plastic parts. Plastic lubricants provides excellent lubrication for the rubber and plastic material surfaces. These lubricants are odourless, colourless, and clear and also are non-flammable. Plastic lubricants are available in different viscosities ranging from fifty to one thousand centistoke. The plastic lubricants have various physical properties which makes it popular such as, high dielectric strength, high resistance to shear, provides excellent thermal conductivity and many more. Growth for the plastic lubricants markets is expected gain potential in the near term and is expected to grow with the healthy CAGR in between the forecast period.
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Market Dynamics: Plastic Lubricants Market
Increasing adoption of innovative technology in plastic lubricants market is expected to gain traction and is expected to dominate the market in between the forecast period. Excellent benefits is associated with application of plastic lubricants and growing demand growth from the end use industries are the primarily positive key factors which are expected to impel the overall demand of the plastic lubricant market in the near future. In addition to this, superior properties of the plastic lubricants are the other key factors for the growth of the market. The only major key factor which restricts the growth of market are comparatively high cost of the raw materials and relatively complex manufacturing process which may impact the overall growth of the plastic lubricants in the global market. Increasing demand of environment friendly products and automated system are the factors which create benchmark trends for the plastic lubricants market in the coming future. In terms of product type, organic segment is expected to exhibit the prominent global demand for all the end use sectors and is expected to hold more than half of the market value and volume share throughout the forecast period. Increasing growth in end use application in the near future is expected to cater the market growth in between the forecast period. In terms of regional growth, Asia pacific followed by North America is expected to create significant opportunity to manufacturers to gain maximum revenue share from the market. On the basis of CAGR, Europe and Middle East and Africa are expected to grow with a good pace in the global plastic lubricants market.
Market Segmentation: Plastic Lubricants Market
On the basis of product type and application the plastic lubricants market are segmented as,
On the basis of product type plastic lubricants market segmented as
On the basis of application plastic lubricants market segmented as
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Regional Outlook: Plastic Lubricants Market
Asia-Pacific is expected to hold more than one third of market value and volume share in the global plastic lubricants market by the end of 2017 and is expected to continue its demand through 2027. The consumption of plastic lubricants in APAC is projected to increase with significant CAGR in between the forecast period. Mature markets, i.e. North America and Western Europe are expected to register relatively moderate growth during the forecast period.
Some of the key players in the plastic lubricants market are
- Sinopec Corporation
- Exxon Mobil Corporation
- Shell Plc
- Fuchs Petrolub SE
- BP Plc
- Total Lubricants