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Poland Industrial Lubricants Market | Projected to reach USD 195.3 million by 2023 with 3.29% CAGR growth rate during the review period of 2017-2023

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Market Synopsis of Poland Industrial Lubricants Market:

Poland Industrial Lubricants Market is expected to reach USD 195.3 million by 2023, growing at an estimated CAGR of 3.29%. The Poland Industrial Lubricants Market is anticipated to be driven by increasing demand from end-use industries such as construction, mining, power generation, and electronics. Intricate applications requiring higher efficiency, sustainability and lower maintenance downtime of industrial equipment, has led to a high demand for these lubricants. Rising demand for a range of manufactured finished goods along with the subsequent need to expand production capabilities has compelled manufacturers to rely on machinery to automate their production process and processing activity. The health of manufacturing industry has a direct impact on the industrial lubricants market dynamics. The cultivating Purchasing Managers’ Indices in the country and the resulting increase in manufacturing capabilities are anticipated to boost industrial lubricants demand. The increasing manufacturing activities are touted to spur investments in production machinery, thereby making a strong case for industrial lubricants. The rising demand for grease in various end-use industries to maintain smooth working of machinery is expected to positively influence the market dynamics for Industrial Lubricants in the near future. Additionally, the Lubricants Market is also expected to witness growth on account of the rising demand from processing industry. However, the emergence of Bio-Based Lubricants is anticipated to challenge industry participants and limit market growth over the forecast period. Process oil emerged as the leading application segment and accounted for over 25% of the overall market revenue in 2016. The product finds wide application scope as a raw material or processing aid in end-use industries such as rubber, chemicals, and plastic. Metalworking fluids is expected to witness a CAGR of 3.60% from 2017 to 2023. 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.

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Key Findings:

The Poland Industrial Lubricants Market is projected to reach USD 195.3 million by 2023 with 3.29% CAGR growth rate during the review period of 2017-2023. In terms of types of industrial lubricants, process oil emerged as the leading segment in 2016 and is expected to continue its dominance over the forecast period. Construction was the largest application owing to the high demand for non-reactive, sustainable and compatible fluids to handle complicated characteristics of varied applications in a safe & efficient manner.

Regional Analysis:

The industrial sector in Poland has performed exceedingly well over the last five years and is expected to witness a growth of 5.3% in industrial output in 2017. The consumption of industrial lubricants is directly related to industrial lubricants market dynamics. The increasing manufacturing activities are poised to surge investments in production machinery, thereby paving growth routes for industrial lubricants. The growing presence of buyers along with easy availability of industrial lubricants due to strong supplier and distributor network is expected to maintain competitiveness and serve the easing demand from end-use industries. Companies such as Klüber Lubrication and Nynas AB are actively focusing on product development and new product launches in order to capture regional market and deliver high-value products.

Segmentation:

Poland Industrial Lubricants Market is segmented on the basis of type and end-user. On the basis of type, market is segmented into process oils, hydraulic fluids, gear lubricants, compressor lubricants, turbine lubricants, metalworking fluids, industrial engine oils, and others. By end use, the market is segmented into automotive manufacturing, power generation, process industry, food & beverages, mining, rail, construction, and others.

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