The report "Mining Lubricants Market by End-Use Industry (Coal Mining, Iron ORE Mining, Bauxite Mining, Rare Earth Mineral Mining, Precious Metals Mining), Type (Mineral Oil Lubricants, Synthetic Lubricants), and Region - Global Forecast to 2022", The mining lubricants market was valued at USD 1.95 Billion in 2016, and is projected to reach USD 2.56 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022.

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The mineral oil segment led the mining lubricants market, in 2016. Low price of mineral oil lubricants is expected to drive the market for this segment during the forecast period. Asia-Pacific is the largest market for mineral oil. The growth of this segment in Asia-Pacific is attributed to the increased consumption of mineral oil in the coal mining industry in emerging countries such as India and China.

The coal mining segment led the global mining lubricants market in 2016, due to the high consumption of heavy load equipment in the coal mining industry. The coal mining industry accounted for the largest share of 56.3%, in terms of value, of the overall mining lubricants market in 2016. The coal mining segment is driven by the improved quality high performance lubricants, which offer high viscosity index, better corrosion prevention, and high resistance to oxidation.

Asia-Pacific was the largest market of mining lubricants in 2016 and is estimated to grow at the highest CAGR during the forecast period. The high growth of the emerging economies makes Asia-Pacific an attractive market for mining lubricant. The tremendous growth of coal mining activities in China and India, are primarily responsible for the high consumption of mining lubricants.

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Key players operating in the mining lubricants market are Royal Dutch Shell Plc. (Netherlands), ExxonMobil Corporation (U.S.), BP Plc. (U.K.), Chevron Corporation (U.S.), LUKOIL (Russia), Idemitsu Kosan Co., Ltd. (Japan), and Total S.A. (France), among others, have adopted various strategies to increase their market shares. Expansions, acquisitions, and new product launches are some of the key strategies adopted by market players to achieve growth in the mining lubricants market.

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