Market study sees growth for mining lubricants

A recent report has heralded projected growth for the mining lubricants sector.

Research suggests that the market will grow from its 2025 value of $2.8 billion to $4.9 billion in 2035, at a compound annual growth rate of 5.7 per cent. The study found that surface mining activities will be the most dominant application, while hydraulic oil sales will hold the largest mining lubricant market share.

The report also highlighted key players in the mining lubricants sector, including UK’s Shell, France’s Total and the US’s Mobil and Chevron, the latter of which is the owner of the Texaco brand.

A wide range of mining applications require heavy duty lubricants that can provide effective lubrication and protect against contamination and corrosion under the most intensive operating rates and extreme environmental conditions. As well as surface mining, lubricants are used in mineral processing, underground mining and correct equipment maintenance procedures.

Hydraulic oil is critical for the function of various heavy mining equipment types. A non-compressible oil, it transfers power, manages heat and lubricates components. It is used to maintain and operate excavators, shovels, loaders, rock drills, drilling rigs, lifts, cranes, haul and dump trucks and bulldozers, as well as underground machinery like continuous miners.

While hydraulic oil is the leading lubricant used in mining operations, many other products are deployed to keep mechanical equipment functioning at optimum. These include gear oil, gas engine oil and grease lubricants that include advanced additive packages to support top performance. Common inclusions in mining lubricants are extreme pressure (EP) and anti-wear (AW) additives, along with viscosity index (VI) modifiers and rust inhibitors.

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