Asia-Pacific Agricultural Lubricants Market – Industry Trends and Forecast to 2030

Asia-Pacific Agricultural Lubricants Market, By Category (Mineral Oil, Synthetic, Bio-based), Type (Engine Oil, Grease, Hydraulic Oils, Transformer Oil, Crankcase Oils, Bar and Chain Oil, Others), Raw Material (Petroleum Based Lubricants, Bio-Based Lubricants), Application (Engines, Gear and Transmission, Hydraulics, Greasing, Chain, Implements, Others), Agricultural Equipment (Tractors, Harvesters, Corn-Pickers, Balers, Verge Cutters, Circular Spike Harrows, Stone Grinders, Fertilizer Spreaders, Slurry Tankers, Sprayers, Fodder Mixers, Silage Spreaders, Straw Blowers, Mowers and Mower-Conditioners, Hay Tedders, Hay Rakes, Bale Wrappers, Grape Harvesting Machines, Others), Distribution Channel (Online, Offline) – Industry Trends and Forecast to 2030.

Asia-Pacific Agricultural Lubricants Market Analysis and Size

Agricultural lubricants are an essential part of the agricultural industry because they enhance the efficiency of agricultural equipment and machinery. Increasing demand for healthy foods grows the demand for industrial machinery in the agricultural sector, which is used to carry out farming operations, leading to the growth of the agricultural lubricants market. Furthermore, "synthetic agricultural lubricants" is expected to be the fastestcategory segment during the forecast period because these lubricants  offer various advantages such as more desirable viscosity-temperature characteristics, improved thermal and oxidative thermal stability, superior volatility characteristics and many other.

Data Bridge Market Research analyses that the agricultural lubricants market is expected to reach USD 14,792.48 million by 2030, which is USD 10,166.01 million in 2022, registering a CAGR of 4.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Asia-Pacific Agricultural Lubricants Market Scope and Segmentation

Market Definition

Agricultural lubricants are materials used to lubricate farm equipment and other machinery such as harvesters, tractors, verge-cutting tools, and others. Agricultural lubricants are an important part of the agricultural sector because they are used to increase farm equipment efficiency. It extends the life of the machine by reducing wear and tear and helps in avoiding the possibility of premature replacement.

Asia-Pacific Agricultural Lubricants Market Dynamics

Drivers

• Growing usage of agricultural lubricant in gears

Agricultural gear is extensively used in the agro-industry for various processes such as irrigation, managing pests, tilling, seeding, and insects and many others. Lubricant is used to remove the heat generated by the operating gear, reduce friction and wear of the gear tooth surfaces, and corrosion protection of the gear parts. The high viscosity of this lubricant ensures movement all over the gear train. Agricultural lubricant is especially appropriate for high-velocity gearing, which is expected to drive the market growth during the forecast period.

• Increasing usage of engine oil to lubricate agricultural equipment

Engine oils are extensively used to lubricate agricultural equipment and are generally composed of 10-25 percent additives and 75 to 90 percent base oils. They are normally used for applications such as corrosion protection, wear reduction and smooth operation of engine internals. They generate a thin film between the moving parts of agricultural equipment to improve the transfer of heat when the parts come into contact. Such factors are expected to increase engine oil usage to lubricate agricultural equipment and likely drive market growth in the coming years.

Opportunities

• Surging development by market players to increase product line

The surging partnership, mergers, acquisition between major market players offer numerous opportunities for the market growth. Furthermore, Royal Dutch Shell Plc entered into a partnership in 2019 with Mahindra & Mahindra Ltd, a part of the Mahindra Group. With this partnership, Royal Dutch Shell Plc and Mahindra would work together to provide high-performance lubricant products, such as transmission and axle oils, engine oils under the 'Maximile' brand. These lubricants would be distributed through the bazar and Mahindra dealership networks through the Mahindra spares business unit.

• Growing demand for bio-based lubricants in agriculture

The bio-based lubricant has superior properties over traditional lubricants, such as biodegradability and renewability. Bio-based lubricant provides higher safety due to constant viscosity, higher flashpoints, and less oil mist. These lubricants produce fewer emissions owing to higher boiling temperature ranges of esters. The best usage for bio-based lubricants is in agricultural machinery that loses oil directly into the environment during operation. Hence, it is projected that the usage of bio-based lubricants will create lucrative opportunities for the market growth in the forecast period.

Restraints/ Challenge

• Effects of agricultural lubricants on the environment

Agricultural lubricants in the form of micro-drops are released into the environment, posing a major risk to the environment. These lubricants can have a very major effect on aquatic ecosystems. Contamination in agricultural lubricants also cause soil damage due to multi-stage physicochemical. Its contamination is harmful and dangerous to biological life, hamper market growth during the forecast period.

• High cost associated with bio-based agricultural lubricants 

The high cost of bio-based agricultural lubricants, especially in the emerging economies of India, where people are very price sensitive, is a major factor that challenges the market growth. The high price of bio-based agricultural lubricants is attributed to their manufacturing process. It is produced using various chemical modification processes, including epoxidation, transesterification, and esterification reactions which upsurges the overall price of the product.

This agricultural lubricants  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the agricultural lubricants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2020, Eni S.p.A announced that it had constructed a gas pipeline connecting to Menzel Ledjmet EST (MLE) and Bir Rebaa Nord (BRN) fields in the south-eastern part of Algeria. This accomplishment will help the company to increase their business and also help in strengthening its position in upcoming years.

Asia-Pacific Agricultural Lubricants Market Scope

The agricultural lubricants market is segmented on the basis of category, raw material, application, agricultural equipment and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Category

• Mineral Oil
• Fluid
• Semi-Fluid
• Solid
•  
• Synthetic
• Polyalphaolefin (PAO)
• Esters
• Polyalkylene Glycol (PAG)
• Others
• Bio-based
• Vegetable Oils
• Rapeseed
• Canola
• Sunflower
• Palm Oil
• Others
• Animal Fats
• Others

 Type

• Engine Oil
• Grease
• Hydraulic Oils
• Transformer Oil
• Crankcase Oil
• Bar and Chain Oil
• Others

Raw Material

• Petroleum Based Lubricants
• Bio-Based Lubricants

Application

• Engines
• Gear and Transmission
• Hydraulics
• Greasing, Chain
• Implements
• Others

 Agricultural Equipment

• Tractors
• Harvesters
• Corn-Pickers
• Balers
• Verge Cutters
• Circular Spike Harrows
• Stone Grinders
• Fertilizer Spreaders
• Slurry Tankers
• Sprayers
• Fodder Mixers
• Silage Spreaders
• Straw Blowers
• Mowers and Mower-Conditioners
• Hay Tedders
• Hay Rakes
• Bale Wrappers
• Grape Harvesting Machines
• Others

Distribution Channel

• Online
•  Offline

Agricultural Lubricants Market Regional Analysis/Insights

The agricultural lubricants market is analyzed and market size insights and trends are provided by country of category, raw material, application, agricultural equipment and distribution channel as referenced above.

The countries covered in the agricultural lubricants market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).

China is expected to dominate the agricultural lubricants market owing to the growth in the crop production area in this region. Furthermore, increasing adoption of agricultural machinery and equipment will further boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Agricultural Lubricants Market Share Analysis

The agricultural lubricants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to agricultural lubricants market.

Some of the major players operating in the agricultural lubricants market are:

• Exxon Mobil Corporation (U.S.)
• Shell (U.K.)
• Chevron Corporation (U.S.)
• Total Energies (France)
• BP plc (U.K.)
• FUCHS (Germany)
• Phillips 66 Company (U.S.)
• Exol Lubricants Limited (U.K.)
• Witham Group (U.K.)
• Rymax Lubricants (Netherlands)
• Repsol (Spain)
• Cougar Lubricants International Ltd (U.K.)
• Schaeffer Manufacturing Co. (U.S.)
• Pennine Lubricants (U.K.)
• Frontier Performance Lubricants, Inc. (U.S.)
• UNIL (Belgium)
• Oilfast Limited (U.K.)
• LUKOIL (Russia)
• CONDAT (France)