Forestry Lubricants Market Size, Share and Industry Analysis Report by Product (Synthetic, Synthetic Blend Oil, Bio-Based, Mineral), Application (Engine, Transmission & Gears, Hydraulics, Greasing, Chain Oils/Saw Guide Oils) and End-Use (Pulp Mills, Sawmills, Paper & Paperboard Mills, Wood Products Manufacturing, Harvesting/Logging, Biomass Pellet Mills, OEM), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry Overview

Forestry Lubricants Market size exceeded USD 4 Billion in 2020 and is estimated to grow at over 3.5% CAGR from 2021 to 2027 due to the increasing need for smooth operations of machinery and vehicles along with steady demand for wooden furniture in households and increasing usage of lubricants in harvesting machinery in the agricultural sector.
 

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Forestry lubricants minimize friction among surfaces that are in direct contact and reduce the heat generated during the movement of the surfaces. They are essential elements in the smooth operations of any type of machinery and vehicles. Lubricants used in the forestry sector are selected based on their properties to improve machine operations and reduce the wear-down rate, thus reducing the maintenance costs of the machine. Growing awareness of mechanized farming has boosted the demand for agriculture and harvesting machinery globally.
 

The harvesting and logging equipment are exposed to unfavorable working conditions such as heavy usage, extreme temperatures, and harsh weather therefore use of lubricants becomes essential for the maintenance of equipment. Lubricants are extensively used for the lubrication of agricultural and forestry machinery to maximize the level of performance of equipment, provide excellent wear and tear, ensure good energy efficiency, and offer exceptional performance when exposed to unfavorable working conditions. Besides, steady growth in the construction industry along with improved living standards are escalating the demand for wood and wooden furniture.
 

Growing automotive production along with automotive fleet and stringent regulations to ensure passenger safety & lifespan of products will drive the forestry lubricants market share. Moreover, increasing disposable incomes in emerging economies including India, China, Brazil, Indonesia, Thailand, etc. will support industry expansion. Besides, factors such as rapid urbanization, industrialization, and increasing international trade across globe will create significant growth opportutines for the overall industry growth.
 

Furthermore, the rising usage of bio-based and enivornment lubricants in agricultural and forestry applications will stimulate the market size. The demand growth for forestry lubricants has been majorly witnessed in Europe and North America. Besides, increasing usage of environment-friendly and eco-label lubricants by OEM manufacturers along with various tax-saving schemes are promoting bio-lubricants demand, particularly in the U.S. and European countries.
 

Strict regulatory giudeline for forestry lubricants market has discouraged new entrants into this space thus challenging the growth of the market. Stringent regulatory guidelines led by the EPA and the EU commission on the use of environmentally acceptable lubricants along with many manufacturers referring to eco-label while purchasing lubricants may impact the industry profitability. Further, the crisis of COVID-19 has negatively impacted the business, owing to strict lockdown rules and closure of different end-use industries.
 

Synthetic lubricant products are projected to witness significant gains owing to their cost-effectiveness and ability to provide enhanced efficiency

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Based on products, the market is bifurcated into synthetic, synthetic blend oil, bio-based, and mineral. The demand for synthetic forestry lubricants segment is anticipated to surpass over USD 2.71 billion by 2027 due to the increasing usage of synthetic lubricants owing to their beneficial properties and cost-effectiveness. Synthetic oils have uniform molecular structure that enables regular lubrication to forestry machinery, thus offers increased efficiency and lower power consumption.
 

Moreover, synthetic oils are highly stable and durable at extreme temperature working conditions compared to mineral oil. Besides, these products also offer high viscosity which makes it more resistant to temperature changes, thus augmenting their usage in forestry vehicles and machinery.
 

Excellent anti-wear properties of synthetic lubricants make machines and engines more efficient and reliable therefore widely preferred for forestry lubrication application. Also, synthetic oils require less force or horsepower to move heavy loads which enhances its application for forestry applications. Few synthetic oils are highly biodegradable which makes them excellent choice for application in sensitive environments such as forestry industry where oil spills and environment contact can occur. Therefore, synthetic oils can be a responsible, rational, and required choice as forestry lubricant.
 

Positive outlook of forestry lubricants in engine application is expected to drive the market

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Based on application, the market is segmented into engine, transmission & gears, hydraulics, greasing, chain oils/saw guide oils, paper machine oil, and others. Engine application segment is anticipated to surpass USD 1.64 billion by 2027 owing to the increasing demand for lubricants to withstand toughest environment conditions to extend useful life of engines. Key product benefits for increasing engine efficiency, performance, along with resistance to dust, humidity, and extreme temperatures will further augment the forestry lubricants market growth.
 

Increasing usage of forestry lubricant in OEM end-use to drive the industry growth

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Based on end-use, OEMs end-use segment is anticipated to surpass USD 1.66 billion by 2027. Growth in manufacturing and construction sector along with increasing company focus on manufacturing modern forestry machinery to increase productivity and efficiency will fuel OEM segment growth. Moreover, original equipment manufacturers are constantly looking to improve efficiency, operational reliability, and enhance competitiveness by avoiding increased maintenance cost and loss of output which should boost the forestry lubricants market share.
 

Asia Pacific forestry lubricant industry growth is attributed to strong growth in automotive industry and demand for wooden furniture

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The Asia Pacific forestry lubricant market is projected to register gains over 4% CAGR between 2021 to 2027. Asia Pacific region is increasingly becoming an exporter and producer of value-added products such as paper and paper boards, and secondary wood products. Rising utilization of wood biomass in Japan is being promoted as an initiative to assist in meeting climate change goals which is anticipated to create potential growth opportunities for key industry participants in the market. Increasing domestic demand for paper and paper products in Malaysia and China has led to higher investments in processing capacity which is driving the regional pulp and paper industry over the forecast period.
 

New product development along with acquisition, and expansion is among the primary business strategies adopted by manufacturers

Global forestry lubricant industry share is a fragmented market owing to the presence of various medium and large multinational companies. Some of the key players in the market include Fuchs Petrolub SE, Royal Dutch Shell, Kluber Lubrication, Phillips 66 Company, Repsol SA, Rymax Lubricants, China Petroleum & Chemical Corporation (Sinopec Corp), Penine Lubricants, Elba Lubrication Inc., and Frontier Performance Lubricants. The key players in the market are mainly focusing on new product launches, acquisition, and expansion in developing and developed economies to capture a good market share.
 

In June 2021, Fuchs Group acquired 100% shares of the lubricant business of Gleitmo Technik AB in Kungsbacka, Sweden. The agreement includes the customer base, product portfolio, workforce, a lease agreement of the Gleitmo office, and warehouse in Kungsbacka. Through this acquisition, Fuchs strengthened its specialty business in the European region.
 

In March 2021, Phillips 66 Company launched Phillips 66 e-Shield, a high-performing lubricant solution to optimize electric vehicle performance & protection including system fluid, grease, and coolants.
 

The global forestry lubricant market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million USG and revenue in USD Million from 2021 to 2027 for the following segments:

By Product

• Synthetic oil
• Synthetic blend oil
• Bio-based oils
• Mineral oils

By Application

• Engine
• Transmission & Gears
• Hydraulics
• Greasing
• Chain oils/saw guide oils
• Paper machine oils
• Others

By End-use

• Pulp mills
• Sawmills
• Paper & paperboard mills
• Wood products manufacturing
• Harvesting/logging
• Biomass pellet mills
• OEM
• Others   

The above information has been provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Malaysia
• Latin America
  • Brazil
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE