INDUSTRIAL LUBRICANTS MARKET ANALYSIS

Market Challenges And Opportunities

However, lubricants both new and recycled ones damage the environment on account of their high potential to cause water pollution. Furthermore, the additives that are present in lubricants are poisonous to the flora and fauna present. The oxidation products in recycled industrial lubricants are extremely harmful. An industrial lubricant’s degradability depends upon the base fluid, however very toxic additives can have a negative effect on the degradability of the industrial lubricants as well.

According to United States Environmental Protection Agency (EPA), in 2016, around 50% of all lubricants sold worldwide ended up in the environment due to volatility, spills, discharges or accidents. Moreover, around 95 % of these lubricants had a mineral oil base. The high eco-toxicity and low biodegradable nature of mineral oil-based industrial lubricants are a major threat to the environment. Therefore, adoption of these is expected to reduce, in turn negatively affecting growth of the market. Moreover, the high cost of synthetic and bio-based lubricants as they need to be refined to be thinner than conventional industrial lubricants causes lesser wear on the machine part is a major factor that thwarts the growth of the global industrial lubricants market