Industrial Gear Oils Market- variety of lubricant oils improving the efficiency of gears by providing lubricity.
Gear oil is made up of two critical components: base oil and additives. Additives impart desirable properties and suppress undesirable ones. The additive package is the backbone of the lubricant’s performance, and a strong backbone will provide the performance and protection you need.
Mineral gear oil is a mixture of higher alkanes from a mineral source, particularly a distillate of petroleum, whereas synthetic gear oil is engineered product created by chemical reactions through the precise application of pressure and temperature. As a result, the end product is a pure compound, less vulnerable to oxidation, highly resistant to breakdown, and uniform in molecular size.
Industrial gearboxes are expected to perform under conditions of high heat and heavy loads; and in environments often contaminated with dirt, process debris and water. Without adequate protection, gears will wear prematurely. You’ll have to replace parts more frequently, change oil more frequently, and worst of all, you’ll experience equipment downtime.
Food grade lubricants are used in the food processing and food manufacturing industries as food safety is the main area of concern. Due to the changing lifestyle, the demand for packaged food products is increasing steadily. Many small and large scale manufacturers are entering into this market to meet the rising demand which has directly impacted the demand for food grade lubricants. Food grade lubricants are essential in order to safeguard the facility operations; Food and Drug Administration (FDA), U.S. has stipulated regulations for the same.
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Growth Trends Industrial Gear Oils Market
The Global Lubricants Market is growing rapidly, wherein India is one of the emerging markets after the U.S. and China. In terms of GDP, India is in fourth place at $1.93 trillion and growth rate is around 5.4%-5.9% according to Economic Survey in 2014-2015. The foreign countries are keen to invest in India. Recently, Gulf Oil Corporation Ltd., a subsidiary of Hinduja group, a global conglomerate company made an approach to invest Rs.120 crore to set up a 75,000-KL plant in Chennai and they are bringing new technology that has not been in India before. Gulf Petrochem Group is a leading player in the international oil sector; it is planning to invest Rs.500 crore in India to enter Rs.6000 crore lubricant market. Gulf Petrochem has already made two acquisitions recently, namely: Sah Petroleum Ltd. for Rs.95 crore and Royal Dutch Shell Specialties near Gujarat for Rs.15 crore to enter in the fuel storage terminal business in India in a span of two months
During the past two years, global lubricants players have launched new range of food grade lubricants which are superior to the earlier products as these products are more reliable and have more service life. Svenska Kullagerfabriken AB (SKF) headquartered in Gothenburg, Sweden launched new food grade lubricants in March, 2015 that includes LGFP 2 general purpose grease, LGFD 2 high load grease, and LFFG 220/320 gear oil. These products reduce the maintenance cost and increases processing efficiency due to its advanced chemical formulation. Petro-Canada Lubricants, another lubricant manufacturing giant whose clients include Mondelez International, Nestle and Danish Crown is developing new food grade lubricants, expected to be launch in 2016. Apart from these two companies, Sprayon has also launched a line of NSF H1 rated lubricants. H1 rated lubricants are used in food-processing plants where there is a possibility of incidental food contact.
Some of the Vendors listed in Industrial Gear Oil Market Report:
- ADDINOL Lube Oil GmbH
- Advanced Lubrication Specialties
- Afton Chemical Corporation
- Amalie Oil Company
- Bechem Lubrication Technology, LLC
- And there are more than 40 players that are listed by IndustryARC for this report.
The recent product launches by the key players of the market indicates that the companies are strategically investing into R&D activities to develop new products which will help them to meet the growing future demand for the food grade lubricants.
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