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Growth in Food and Beverage, Construction, and Utilities Sectors to Drive the Demand for Industrial Lubes and Greases
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This research service is an analysis of the Australian industrial lubricants and greases market and it provides drivers of market growth and restraints to market growth, market size forecast, segmentation by major product type, demand trend analysis, and competitive analysis. Poor performance of key end-use verticals such as mining creates medium-term headwinds to growth. Capex in the Australian mining sector declined by 30% in 2015-16. This trend (which has resulted in weak business confidence and higher cost sensitivity) has reduced the addressable opportunity for lubricants and greases. However, the construction, utilities, and food and beverage sectors offer growth opportunities. Development in wind and solar power generation creates a growing demand for turbine oils and industrial gear oils. Investment in infrastructure construction also creates a demand for industrial greases, industrial engine oils, and hydraulic liquids. The food and beverage manufacturing segment counters the overall manufacturing decline trend by leveraging on the country’s competitive advantage in the agriculture sector. Robust growth in construction, utilities, and food and beverage sectors supports the demand for a variety of industrial lubricants such as industrial engine oils, hydraulic fluids, and industrial gear lubricants, amongst others.The stability of the Australian economy has attracted a growing number of new suppliers that typically tend to compete primarily on pricing. With increased margin pressure on key end-use verticals, this strategy is gaining traction in the domestic market.Technological development in lubricant products and lubricant monitoring and dosing also throws up opportunities for clear value addition. In particular, condition monitoring services will continue to play a key role in improving end-customer awareness of lubricants and their role. The market share of imported industrial lubricants and greases has been growing due to their low cost. The Australian industrial lubricants and greases market has been segmented into the following categories:• By product type: Industrial engine oils, hydraulic fluid, turbine and circulating oils, industrial gear oils, and others including compressor oil, refrigeration oil, metal working oils, process oils, and industrial grease• By vertical: Mining, oil and gas, utilities, construction, manufacturing and other process industries, and othersKey Questions This Study Will Answer:• What are the key growth drivers and restraints for industrial lubricants and greases in Australia? • What is the size and growth forecast for the Australian market? What factors will underpin this forecast? • How is the market segmented by product type? • What technology, demand, and service trends are likely to impact the opportunity in the future? • Which are the key market participants and competitors and what are their relative strengths?
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