Rust Lubricant Market Propelled by Rising Infrastructure Development Activities

 

Rust lubricant are compounds that prevent corrosion and reduce friction between metal parts. Rust lubricant find extensive usage in industrial, automotive, marine and other sectors. They protect metal parts and components from rust and corrosion, extend their work-life and reduce downtime. With growing mechanization and industrialization globally, demand for machinery and equipment has been surging. This is fueling the need for regular maintenance and usage of rust lubricants to protect costly metal assets. The global Rust Lubricant Market is estimated to be valued at US$ 2.5 Billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand from the industrial and automotive sectors has been a key trend driving growth in the rust lubricant market. Both sectors require extensive lubrication of metal components to prevent rusting and extend their life. As industrial activities and automotive production volumes have been rising globally, particularly in emerging economies, it has supported greater uptake of rust lubricants. Furthermore, increasing mechanization on farms and in other applications has augmented demand from agricultural and construction equipment manufacturing. Rise in infrastructure development projects also contributes to market growth. With continued industrialization and expansion of manufacturing industries worldwide, the rust lubricant market is projected to expand steadily over the coming years.

Segment Analysis

The global rust lubricant market is dominated by the industrial segment. The industrial segment accounts for over 60% share of the overall market as rust lubricants are extensively used in heavy machinery, metal equipment, and other industrial equipment to prevent rust formation. These lubricants form a protective film on metal surfaces that shields the metals from corrosion causing agents like moisture and oxygen.

Key Takeaways

The global rust lubricant market is expected to witness high growth.

Regional analysis: Asia Pacific dominates the global rust lubricant market and is expected to grow at the fastest pace during the forecast period. The growth in the region can be attributed to the presence of large manufacturing and industrial base in countries like China and India that use rust lubricants extensively. Industrialization and growing infrastructure development activities will further drive the demand for rust lubricants in Asia Pacific over the coming years.

Key players operating in the rust lubricant market are Shell, BP, ExxonMobil, Total, Axel Christiernsson, Chevron, FUCHS, SKF, DowDuPont, Sinopec, Quaker Chemical, PetroCanada, Lukoil, Plews/Edelmann, Klüber, Eaco, Blaser Swisslube, Idemitsu Kosan, and Indian Oil Corporation Ltd. Shell is a prominent player with a wide range of rust lubricants suitable for both industrial and automotive applications. ExxonMobil offers specialized synthetic and semi-synthetic rust lubricants. Total launched environmental-friendly bio-based rust preventive lubricants.

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