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North America & Europe Forestry Lubricants Market Size

Report ID: GMI5220
Published Date: Feb 2022
Report Format: PDF

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North America & Europe Forestry Lubricants Market Size

North America & Europe Forestry Lubricants Market size exceeded USD 2 Billion in 2020 and is estimated to grow at a CAGR of over 3% through 2027. Rising demand for lubricants with high operational efficiency and capable of operating in harsh working conditions should stimulate the overall market growth.

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Forestry lubricants are lubricants which aid in the smooth operation of machinery and vehicles used in the forestry sector. They find demanding applications in different end-use industries including wood working, paper & paperboard, pulp mills, sawmills, and biomass pellet mills, among others. These lubricants minimize friction among surfaces in direct contact and reduce heat generated during their movements.

North America & Europe Forestry Lubricants Market Report Attributes
Report Attribute	Details
Base Year:	2020
North America & Europe Forestry Lubricants Market Size in 2020:	2.1 Billion (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	3%
2027 Value Projection:	2.8 Billion (USD)
Historical Data for:	2016 to 2019
No. of Pages:	275
Tables, Charts & Figures:	228
Segments covered:	Product, Application, End-use
Growth Drivers:	Increasing bio-based lubricants demand in Europe and North America Growing demand for paper in packaging applications and hygiene products Surging biomass pellets utilization in the energy & power industry Increasing demand for wood & wood products Rapid growth of construction sectro
Pitfalls & Challenges:	High cost of synthetic forestry lubricants

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Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

North America & Europe market for forestry lubricants surpassed USD 2 billion in 2020 and is expected to expand at a CAGR of 3% from 2021 to 2027 driven by the soaring demand for lubricants with high operational efficiency.

The market share from bio-based forestry lubricants is estimated to grow at a CAGR of 4% through 2027 owing to their relatively high biodegradability.

Europe forestry lubricants market value is projected to cross USD 1.6 billion by 2027 considering the rising demand for wood pellets from residential heating, power plants, and commercial heating applications.

Major companies in the North America & Europe forestry lubricants industry comprise Phillips 66 Company, Fuchs Petrolub SE, Kluber Lubrication, Royal Dutch Shell plc, and others.