Market Research Future will be publishing a cooked research report on “Poland Industrial Lubricants Market” that contains the information from 2017 to 2023. Poland Industrial Lubricants Market is expected to grow with the CAGR 3.29% during forecast period of 2017 to 2023.
Market Research Future (MRFR) recognizes a few companies as the key players in the Poland Industrial Lubricants Market that includes Orlen
Oil Sp.z o.o, LOTOS Oil Sp. z o.o, Lubricant Consult GmbH, Klüber
Lubrication Polska Sp. z o.o., Total S.A, Nynas AB, BP Europa SE, FUCHS,
ExxonMobil Corporation, and Oemeta Polska Sp. z o.o., among the others.
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Market Highlights:
Commenting
on this report, an analyst from Market Research Future (MRFR)’s team
said “Poland Industrial Lubricants Market” is estimated to be valued at
USD 156.8 million in 2016 and is expected to grow at CAGR of 3.29% during the forecast period from 2017-2023.
Segment Analysis:
Poland
Industrial Lubricants Market is segmented on the basis of type and
application. On the basis of type the market is divided into process
oils, hydraulic fluids, gear lubricants, compressor lubricants, turbine
lubricants, metalworking fluids, industrial engine oils, and others.
Process oils emerged as the leading segment with demand driven by
factors such as increasing usage in manufacturing of tires and rubbers.
They are helpful in enhancing abrasion & rolling resistance of
tires. Widening application scope in end-use industries such as polymer,
personal care, and textile is further anticipated to positively
influence market growth. The segment is projected to grow at a CAGR of
3.52% to reach USD 53.7 million by the end of 2023. Process oils were
followed by hydraulic fluids and metalworking fluids in terms of overall
market share in 2016. Increasing
demand for metalworking processes such as cutting, welding, and forming
across various applications, such as automotive, foundry, ships,
aircraft, milling, and industrial machinery, is expected to drive the
demand for metalworking fluids over the forecast period. General
industrial oils such as gear lubricants, turbine lubricants, and
compressor lubricants are set to witness moderate growth over the
forecast period.
Based
on application, the Poland Industrial Lubricants Market is segmented as
automotive manufacturing, power generation, process industry, food
& beverages, mining, rail, construction, and others. Construction
sector accounted for the largest market share of over 20% in 2016 and is
set to grow at an estimated CAGR of 3.45% from 2017 to 2023. The
country is set to be the largest recipient of EU-funding and financial
assistance of over EUR 80 billion from 2014 to 2020. This factor has
resulted in significant development of construction and infrastructure
projects across the country. Power generation is expected to witness the
highest revenue CAGR of 3.55% from 2017 to 2023. Numerous energy
facilities rely heavily on the performance of their equipment to remain
competitive, including gas and steam turbine power plants, wind
turbines, natural gas compression plants.
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Regional Analysis:
The
Poland Industrial Lubricants Market is expected to reach USD 195.3
million by 2023 from USD 156.8 million in 2016, expanding at CAGR of
3.29 % from 2017-2023.
Rapidly expanding industrial base coupled with escalating investments
in construction sector is expected to drive demand for industrial
lubricants over the forecast period. The growth drivers for
manufacturing sector in the country include availability of large pool
of skilled labor and technological know-how along with favorable foreign
investment norms. Robust growth in niche sectors, for instance, 3D
printing and medical devices, is expected to positively support the
industrial growth rate. Increasing mining activities in the country has
led to a significant rise in demand over the past few years. The key
strategies followed by most companies in the market are, agreements and
collaborations, mergers and acquisitions, joint ventures and expansion.
Total started up the lubricants oil blending plant in Singapore with
annual capacity of 310,000 metric tons, whereas BP signed a production
sharing contract (PSC) with China National Petroleum Corporation (CNPC).
This deal will result in combined operational expertise of both BP and
CNPC in the field of exploration, development, and production of shale
gas to jointly realize the efficient development of unconventional
resources. Such developments within key industry participants is
expected to result in improved product offerings at optimum price levels
and benefit overall industry growth.
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