Fire Resistant Lubricants Market

The global fire resistant lubricants market size is projected to reach USD 3.7   billion by 2027 from USD 3.1 billion in 2022, at a CAGR of 3.4 %. Rapid industrialization in the Asia Pacific and, the Middle East & Africa post-COVID-19, coupled with the rise in process automation in most industries and the gradual increase in the metal processing & mining industry, are expected to drive the global fire resistant lubricants industry during the forecast period. Furthermore, demand for renewable energy and the growing e-commerce industry act as an opportunity for market growth. However, lack of proper training and product awareness are the major challenges in the fire resistant lubricants market.

Attractive market opportunities in the Fire Resistant Lubricants Market

e-estimated, p-projected

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Market Dynamics

Driver: Growing demand from the metal processing industry

The metal processing industry is one of the major consumers of fire resistant lubricants. Various metal processing equipment and other heavy equipment require fire resistant lubricants for the smooth functioning of machinery. North America, Europe, and Asia Pacific mainly drive the fire resistant lubricants market in the metal processing industry. The Middle East is witnessing high growth in the metal processing industry, driven by increased purchasing power and demand for affordable housing. Furthermore, the demand for steel is increasing for many applications such as automotive, construction, mechanical equipment, transport, electric & domestic appliances. This tremendous growth in the metal processing sector drives the growth of the fire resistant lubricants market.

Restraint: High cost of HFDU and HFDR-type fire resistant lubricants

HFDU and HFDR-type fire resistant lubricants are more expensive than HFC-type fire resistant lubricants. The cost of HFDU and HFDR-type fire resistant lubricants is high as these lubricants have many upgraded functions. For example, unlike the HFA and HFC type fire resistant lubricants, the HFDU and HFDR type fire resistant lubricants have a lower risk of fire, can operate up to maximum pressure of 5,000 psi, and can treat the waste entirely. In general, the price of fire resistant lubricants differ in comparison to petroleum-based hydraulic fluids prices. However, the usage of fire resistant hydraulic fluids are in critical application areas wherein petroleum-based hydraulic fluids cannot be employed due to flammability issues. Thus, the high prices of HFDU and HFDR-type fire resistant lubricants are restraining market growth.

Opportunity: Demand for renewable energy to positively impact the fire resistant lubricants market

E-commerce is an internet platform where fire resistant lubricant manufacturers can directly sell their products without involving distributors, dealers, or shops. It helps manufacturers to cut down the value chain and improve their profit margin. Fire resistant lubricant companies have also started to leverage this revolutionary virtual marketplace to gain a consumer base using online campaigns and digital marketing techniques. Europe and North American markets are mostly based on DIY consumers, who readily move the lengths to buy the brand of lubricant of their choice. E-commerce has boosted this trend and helped companies to target a larger audience. E-commerce might help change consumer behavior in various regions around the world.

Challenge: Lack of proper training and product awareness

Lack of proper training and awareness among machinery fire resistant lubrication professionals is considered a major challenge in the fire resistant lubricants market. Due to lack of awareness, most end users such as metal processing, mining, construction, power generation, marine, and aerospace industries in emerging economics are using conventional fire resistant lubricants instead of the requirement as they are cheaper. This results in hazardous fire-related problems which leads to loss of property and life. The end-use industries must closely work with fire resistant lubricants manufacturers in training and adopting best practices to prevent fire-relation problems and contamination in the market.

“HFC type fire resistant lubricants segment to dominate the market, in terms of value, during the forecast period”

Due to their widespread availability and low price, HFC-type fire resistant lubricants make up the largest share of the global fire resistant lubricants market. The HFC-type fire resistant lubricants offer some benefits, such as a low freeze point, while the heat-transfer capabilities and fire resistance are provided by the water. The HFC-type fire resistant lubricants can impart a higher viscosity index and natural detergency than most other base oils.

“Mining is projected to be the second-largest end-use industry, in terms of value, during the forecast period”

In the mining industry, fire resistant lubricants are mainly used in heavy equipment, including rock drills, excavating equipment, ore conveyors, and loaders which is expected to drive the demand for fire resistant lubricants. Other equipment includes a dragline, electric rope shovel, hydraulic shovel, and mining truck that uses fire resistant lubricants.

“Asia Pacific to account for the largest share of the global lubricants market, in terms of value, during the forecast period”

In terms of volume and value, Asia Pacific is projected to hold the largest share of the global fire resistant lubricants market throughout the forecast period. Due to its expanding industrial investment, growing population, and the development of its infrastructure in the developing markets of China, India, and Japan, the region will be a prime location for the fire resistant lubricants business.

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Key Market Players

The key market players profiled in the report include TotalEnergies SE (France), Quaker Houghton (US), Shell plc (UK), Exxon Mobil Corporation  (US), BP p.l.c. (UK), Sinopec Group (China), Phillips 66 (US), LANXESS AG (Germany), Croda International Plc (UK), and Fuchs Petrolub SE (Germany).

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Scope of the Report

This report categorizes the global fire resistant lubricants market based on type, end-use industry, and region.

Based on the Type:

• HFA
• HFB
• HFC
• HFDU
• HFDR

Based on the End-Use Industry:

• Metal Processing
• Mining
• Power Generation
• Aerospace
• Marine
• Construction
• Others
  • Textile
  • Forestry
  • Chemical
  • Food Processing
  • Wood
  • Cement Production

Based on the Region:

• Asia Pacific
• North America
• Europe
• Middle East & Arica
• South America

Recent Developments

• In July 2022, Quaker Houghton announced a collaboration with SKF Group to combine SKF Group’s Double Separation Technology (DST) with Quaker Houghton’s industrial oils & fluids to enable the industry to utilize its resources more efficiently.
• In July 2022, Exxon Mobil Corporation announced a partnership that Exxon Mobil Corporation is now the sole aviation lubricants supplier for Ethiopian Airlines’ growing fleet, such as Mobil HyJet V and Mobil HyJet IV-Aplus.
• In April 2022, Exxon Mobil Corporation announced a partnership with Kalitta Air and Mesa Air Group, Inc. to procure Exxon Mobil Corporation aviation lubricants and use Mobil HyJet IV-Aplus across its entire fleet.
• In December 2021, TotalEnergies SE announced an agreement with City Rail Link (CRL) Project over the next six months to establish itself as the majority supplier across CRL’s sites for Hydransafe and the full lubricants range.
• In March 2021, TotalEnergies SE announced the launch of a new fire resistant hydraulic fluid named Hydransafe HFC-E that reduces not only fire hazards in underground mines but also delivers higher equipment reliability.

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