Slideway Oil Industry Analysis Report 2022: Key Opportunities and Competitive Landscape
The
global Slideway Oil Market is expected to reach USD 94.78
billion by 2022, according to a new report by Grand View Research, Inc. High
machinery demand in automobile, food & beverage and packaging industry is
expected to fuel product market over the next seven years.
Rapid
industrialization in emerging economies of BRICS on account of favorable
foreign investment norms, availability of large pool of skilled labor and
technological know-how is expected to have a positive impact on the sector over
the forecast period.
Increasing
R&D expenditure for introduction of improved product grades is expected to
promote demand over the next seven years. Stringent regulations restraining
product use primarily in food & beverage manufacturing machinery is likely
to hamper industry growth. Technological innovations pertaining to improving
efficiency and anti-slip properties is expected to have a positive impact on
the market over the next seven years.
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Further key findings from the report suggest:
·
ISO VG 68 was the
largest product segment with volume estimated over 3.00 million tons in 2014.
The product is employed in numerous mobile and industrial applications on
account of its excellent wear protection against high speed pumps and increased
pressure, rust and corrosion. This is expected to have a positive impact on
product growth over the next seven years.
·
ISO VG 220 grade
revenue was valued over USD 15.00 billion in 2014. Increasing product use in
worm gears and heavy loaded gearings on account of anti-wear and anti-corrosion
properties is expected to fuel its demand over the forecast period.
·
Asia Pacific is
the largest regional segment and was valued at over USD 25.00 billion in 2014.
Rapid industrialization in India and China coupled with growing transportation
and manufacturing sectors are expected to favourably impact demand over the
forecast period.
·
North America and
Asia Pacific have been the largest markets for these products on account of
tremendous growth in the manufacturing sector. Rising R&D investments
coupled with associated technological breakthroughs in the area of processing
and cost-effective production of slideway oils were key factors responsible for
augmenting demand over the past few years and the trend is expected to continue
over the forecast period.
·
Major
manufacturers are integrated to provide specialized products on the basis of
application. Companies including ExxonMobil and Chevron are directly involved
in production of slideway oil for specific applications. These companies are
further involved in supply agreements with major end-users to ensure steady
sales of the product. Rising industrial output particularly in metal
forming, foundry, plastics, machining and mining industries of China and India
has led to capacity expansions by companies.
Grand
View Research has segmented the global slideway oil market on the basis of
product and region:
Global
Slideway Oil Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
·
ISO VG 68
·
ISO VG 220
·
Others
About Grand
View Research:
Grand View Research is an India & U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. Grand View
Research database is used by the world's renowned academic institutions and
Fortune 500 compnies to understand the global and regional business
environment. Our database features thousands of statistics and in-depth
analysis on 46 industries in 25 major countries worldwide.
Contact:
Grand View Research, Inc.
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San Francisco, CA 94105
United States
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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