| Fire Resistant Lubricants Market worth $3.7 billion by 2027, at a CAGR of 3.4% |
| The report “Fire Resistant Lubricants Market by Type (HFA, HFB, HFC, HFDU, HFDR), End-Use Industry (Metal Processing, Mining, Power Generation, Aerospace, Marine, Construction, Others), Region (Asia Pacific, North America, Europe, South America) – Global Forecast to 2027″, size is projected to reach USD 3.7 billion by 2027 from USD 3.1 billion in 2022, growing at a CAGR of 3.4 % in terms of value during the forecast period. To avoid the fire hazards caused by metal-on-metal contact between the surfaces of moving parts, fire resistant lubricants offer protection. Although the surface of equipment appears to be smooth and polished, at the microscopic level they have rough surfaces. Smooth motion is hampered by friction. Additionally, it worsens surface wear, produces heat, and may even result in equipment failure or fire-related problems. Between moving parts, a layer of film is formed when fire resistant lubrication is done correctly to eliminate friction, which leads to more streamlined operation and longer equipment life without fire concerns.
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Some of the prominent key players are: · TotalEnergies SE (France) · Quaker Houghton (US) · Shell plc (UK) · BP p.l.c. (UK) · Exxon Mobil Corporation (US) · Sinopec Group (China) · Phillips 66 (US) · LANXESS AG (Germany) · Croda International Plc (UK) · Fuchs Petrolub SE (Germany) 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. “Metal processing segment projected to be the largest end-use industry, in terms of value, during the forecast period”
High varying temperatures and high friction involved in industrial processes necessitate the use of fire-resistant lubricants in the metal processing industry. The metal processing end-use industry consumes fire resistant lubricants on a large scale. Metal processing leads the fire-resistant lubricants market due to the huge demand for metals such as steel, aluminum, and others from industries such as automotive, general manufacturing, construction, packaging, and machinery. The steel production plant consumes fire resistant lubricants in assembly cranes, electric motors, bearings, and hot-temperature casting machines.
“Asia Pacific is estimated to be the largest market for fire resistant lubricants, in terms of value, during the forecast period”
Asia Pacific is estimated to be the largest fire-resistant lubricants market in the metal processing and power generation industry. This is due to the increasing metal processing production in China, Japan, and India. According to the World Steel Association (WSA), China and India are the top crude steel producers, producing 1,032,790 thousand tons and 118,201 thousand tons, respectively, in 2021. The increasing steel production in China and India drives the demand for fire resistant lubricants in the metal processing end-use industry.
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