Agricultural lubricants are substances used to lubricate farm equipment and other machinery including tractors, harvesters and others. Lubricants are mainly used to decrease the ability to decrease the friction between the two surfaces which are in contact with each other. The main function of the agricultural lubricant is to make sure that this equipment should work smoothly by improving their service life. They are very important as they have the ability to increase the efficiency of the agriculture instrument. It is also cost saving as they eliminate the money spend on the repairing, wear and tear and decrease the chances of early replacement. Some of the common types of agriculture lubricants types are bio- based lubricant, mineral oil lubricant and synthetic lubricants. They are widely used in applications such as gear & transmission, greasing, engines, implements among others.
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Some of the factors responsible for the growth of this market:
The global agricultural lubricants market is segmented on the basis of type as mineral oil lubricants, synthetic lubricants, and bio-based lubricants and application is segmented on the basis of engines, gear & transmission, hydraulics, greasing, and implements
Some of the launches and acquisition in the market are:
“According to Data Bridge Market Research, global agriculture lubricants market is set to witness a steady CAGR of 4.6% in the forecast period 2018- 2025”
Some of the major players in agricultural lubricants market ExxonMobil Corporation, Shell, Chevron, INEOS, Total, Chevron BP P.L.C., The Lubrizol Corporation, Fuchs Petrolub, Phillips 66 Company, Exol Lubricants, Witham Oil and Paint, Rymax Lubricants, Cougar Lubricants International, Schaeffer Manufacturing Co., Pennine Lubricants, Frontier Performance Lubricants, Unil Lubricants, Repsol, Lubitec, Callow Oils, Dyade Lubricants, Normac Oils and many more.
Increasing population has increased the demand for food which eventually has enhanced the productivity of agricultural products. Government is also encouraging the adoption of new agricultural practices and is also supporting the farmers with new schemes and policies which are further enhancing the demand for agriculture lubricants. Increased labor cost due to unavailability of agriculture labor is also driving the market growth. These are some of the factors which are creating new opportunities for this market to grow.
Global Agricultural Lubricants Market– Industry Trends and Forecast to 2025
Europe Agricultural Lubricants Market – Industry Trends and Forecast to 2027