Forestry Lubricants Market - By Product (Synthetic, Synthetic Blend Oil, Bio-Based, Mineral), By Application (Engine, Transmission & Gears, Hydraulics, Greasing, Chain Oils), By End-Use (OEMs, Sawmills, Harvesting, Pulp Mills), & Forecast, 2023 - 2032

Forestry Lubricants Market Size

Forestry Lubricants Market size was worth USD 4 billion in 2022 and is anticipated to record over 3% CAGR from 2023-2032.
 

Rising demand for paper and paper products in manufacturing hygiene products and packaging will complement the forestry lubricants industry dynamics. In recent years, the demand for upstream products such as coated papers, paper towels, paper bags, and tissue papers has grown considerably. As a result, manufacturers are increasingly investing in the expansion of facilities and the adoption of advanced equipment.
 

Additionally, a dynamic surge in e-commerce activities and manufacturing output across developed and developing countries has encouraged paper manufacturers to ramp up production in order to meet the growing need for cardboard packaging. Paper companies are rapidly deploying critical equipment and components such as lubricants to meet production goals. Lubricants designed for paper machines enable error-free operations, support high workloads, and help prevent water contamination.
 

Strict environmental regulations to hinder market expansion

Stringent regulations pertaining to synthetic lubricants may impede the adoption of forestry lubricants. Several government bodies have introduced very strict regulatory guidelines for the use of chemicals as lubricants. For instance, the regulations rolled out by the Environmental Protection Agency (EPA) ensure that industrial facilities pre-treat wastewater to separate pollutants and ultimately protect their wastewater treatment plants. Industrial lubricants, when discharged could interfere with local sanitary sewers and end up polluting the local waterways. Increasing concerns associated with environmental degradation and the impact of pollution on health could restrain industry progress.
 

Forestry Lubricants Market Analysis

Forestry lubricants market valuation from synthetic lubricants is estimated to reach over USD 3 billion by 2032. Synthetic lubricants are widely used as they offer a myriad of benefits including cost-effectiveness. They are easily available, affordable, and accessible. Since production is relatively less complex, synthetic oils are available at an affordable price and can help end-users cut down on costs in the long run. They have favorable chemical and physical properties such as a uniform molecular structure which ensure more uniform and regular lubrication whilst enhancing efficiency and reducing overall power consumption. Rising demand for energy-efficient solutions due to skyrocketing costs of fuel will augment the segment development.
 

Forestry lubricants market from transmission & gears applications is projected to exhibit over 3% CAGR between 2023-2032. Growing demand for lubricants and oils for the maintenance of mechanical transmissions will positively affect the forestry lubricants industry. Transmission lubricant oil has several advantages such as rust resistance, anti-wear protection, and compatibility with joint materials. These lubricants are also capable of withstanding load capacity during extreme/harsh working conditions. With rapid electrification, the space of automotive production is transforming.
 

Forestry lubricants market from harvesting/logging end-use segment is expected to surpass USD 1 billion by 2032. The use of forestry lubricants for harvesting and logging is picking pace with growing focus on planned harvesting operations to reduce the environmental impact and different ways to maximize the recovery of useful wood. Equipment used in agricultural practices is exposed to harsh environmental conditions, which increases the risk of wear and tear. Manufacturers are developing novel automatic lubrication devices to protect machinery from extreme wind, cold, heat, and rain. In addition to protection from weather conditions, automatic lubrication also benefits the machinery by preventing contaminants from entering via lube points.
 

Asia Pacific forestry lubricants market is poised to surpass USD 2.4 billion by 2032. APAC is expected to emerge as a hotspot for forestry lubricant manufacturers owing to rising domestic demand for paper and paper products. China and Malaysia are among the prominent economies where paper production is skyrocketing, encouraging a higher influx of investments to boost processing capacity across the pulp & paper processing sector. Over the last few years, APAC has also experienced significant growth in terms of production and export of value-added products such as secondary wood items, paper, and paperboards. North America & Europe forestry lubricants industry is estimated to grow at a CAGR of over 3% in the coming years due to rising demand for lubricants with high operational efficiency and capable of operating in harsh working conditions.
 

Forestry Lubricants Market Share

Some of the leading companies in the global forestry lubricants market include :

• Royal Dutch Shell
• Kluber Lubrication
• Fuchs Petrolub SE
• Phillips 66 Company
• China Petroleum & Chemical Corporation (Sinopec Corp)
• Repsol SA
• Rymax Lubricants
• Penine Lubricants
• Elba Lubrication Inc.
• Frontier Performance Lubricants
• Petro Canada Lubricants
• Exxon Mobil Corporation
• Chevron Corporation
• Petronas Lubricants International (PL)
• Klondike Lubricants Corporation
• Bioblend Renewable Resourc
• Amsoil Inc.
• Lubrizol Corporation
• Castrol Limited
•  TotalEnergies SE.
   

Impact of COVID-19 Pandemic

The COVID-19 pandemic introduced new challenges, opportunities, and trends in the forestry lubricants industry. The pandemic had a significant impact on a broad spectrum of business verticals including the forestry sector. According to the International Labor Organization (ILO), one-third of the global population relies on forests for fuel, and 54.2 million people depend on the sector for employment. While the pandemic effectively disrupted supply chains and caused labor shortages or layoffs, the demand for forestry products witnessed a substantial rise. As per Food and Agriculture Organization (FAO), the pandemic had a positive impact on the wood value chain. Furthermore, digital shopping trends expedited the use of wood and paper products in packaging.
 

The Forestry Lubricants market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million USG and revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

• Synthetic
• Synthetic Blend Oil (SBO)
• Bio-based
• Mineral

By Application

• Engine
• Transmission & Gears
• Hydraulics
• Greasing
• Chain Oils/Saw Guide Oils
• Paper Machine Oil

By End-use

• OEMs
• Sawmills
• Paper & Paperboard Mills
• Wood products manufacturing
• Harvesting/Logging
• Biomass pellet Mills
• Pulp Mills

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Malaysia
• Latin America
  • Brazil
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa