Lubricant Demand Growing for Coal and Bauxite Mining

Every industry, including mining and quarrying, requires lubricants for the proper functioning of machines. A large number of drilling machines, conveyors, and other machines are employed at mines and quarries, which creates a high demand for lubricants. This is because such machines have moving parts and those that are in mutual contact with each other. Since friction restricts movement, creates heat, and wears the equipment down, lubrication is vital. Thus, with industry activities increasing, the lubricants market for mining and quarry applications will reach $2,610.0 million by 2023 from $1,890.0 million in 2016, at a 5% CAGR between 2017 and 2023.

The lubricants utilized in such applications could have a biological, synthetic, or mineral oil base. Among these, mineral-oil-based lubricants are the most popular because they are the most widely known. In addition, with the high-volume mining of oil, such lubricants are available easily and cost-effectively. However, petrochemicals have the pollution factor associated with them, which is why in the years to come, the demand for bio-based lubricants is expected to grow the fastest in the mining and quarrying sector.



In the coming years, bauxite mining companies’ demand for lubricants will grow massively due to the rising importance of aluminum in various applications. Owing to its low weight and corrosion resistance, it is widely used in the civil construction, consumer goods, and aerospace sectors. Additionally, thanks to its good electrical conductivity and low costs, it is replacing copper in the production of wires. Thus, with the world’s population set to grow to almost 11 billion by 2100, as claimed by the United Nations (UN), there would be a massive surge in the production of electricity and construction of generation and transmission infrastructure, thus boosting the demand for aluminum wires.

Thus, with Western countries reducing their mining activity owing to the strong environmental concerns, they are turning to developing countries, where such regulations are either non-existent or significantly weaker than in developed countries, for minerals. Moreover, APAC is also the most-populated region, which is why the mineral demand is also domestically the highest here. With such factors continuing to push up mining and quarrying activities in the region, the demand for various types of lubricants for the related machines will keep growing here in the years to come.

Therefore, as the demand for minerals rises, so will the consumption of lubricants in mining and quarrying applications.

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