This report is on the press release distributed by SBWire
Poland Industrial Lubricants Market is projected to reach USD 195.3 million by 2023 with 3.29% CAGR during the review period of 2017-2023.
Process oils were the largest type segment in the industry, owing to their advantageous characteristics that foster greater operating efficiency and enhanced productivity in manufacturing applications.
These oils also ensure low energy consumption, which has fostered their growth in developed, energy-conscious markets such as Poland.
Construction was the largest application for industrial lubricants owing to the high demand for non-reactive, sustainable and compatible fluids to handle intricate characteristics of varied applications in a safe & efficient manner.
Poland industrial lubricants market is segmented on the basis of type and end-user. This market is segmented into process oils, hydraulic fluids, gear lubricants, compressor lubricants, turbine lubricants, metalworking fluids, industrial engine oils, and others in terms of type.
In terms of the end user, the market is segmented into automotive manufacturing, power generation, process industry, food & beverages, mining, rail, construction, and others.
Poland industrial lubricants market is expected to grow substantially over the forecast period owing to factors such as increasing construction output coupled with the strong growth of mining industry.
A significant increase in demand for manufactured goods coupled with an expansion of manufacturing lines has generated a rise in industrial lubricants consumption over the last five years.
Industrial lubricants find wide application scope in the variety of equipment to yield the desired performance level. They are deployed in diverse end-use industries such as food & beverage processing, industrial machinery, automotive, and mining. However, the selection of lubricants is largely dependent on a variety of factors such as exposure to harsh chemicals and temperature.
Initiatives such as continuously evolving emission standards, improving engine technology, and norms about mitigated carbon footprints that are being adopted in European countries are touted to be among the key driving factors for industrial lubricants over the forecast period.
The rising demand for grease in various end-use industries to maintain smooth working of machinery is expected to positively influence the market dynamics for industrial lubricants over the future.
Additionally, the lubricants market is also expected to witness growth on account of rising demand from the food & beverage processing industry.