The global penetrating oil market was valued at USD 193.0 million in 2019 and is projected to reach USD around 255.7 million by 2027, expanding at a CAGR of 3.3% during the forecast period. Penetrating oil is a high-quality lubricant that uses a mixture of oils and penetrants. It is formulated to efficiently detach seized and rusted components. It is used to loosen nuts, bolts, screws, studs, pins, valves, pipe couplings, pulleys, and parts of the machineries. It is used to clean rusted surfaces of molds, dies, and heavy tools and to soften or wash carbon residues.
The market is driven by factors such as rising awareness and increasing diverse End-users for penetrating oil. Polyurethane is a substitute for penetrating oil; however, it is considered to be hazardous to environment, which in turn, is increasing the demand for green products such as penetrating oil propelling the growth of the market. The shift in consumer preference to use penetrating oil and immense market opportunities in Asia Pacific are the key opportunities for this market during the forecast period. Few restraints for this market are penetrating oil contains petroleum, which is harmful and can damage some materials and it also cannot provide effective long-lasting solution to machine. Also, it is combustible and should be used with caution and it may cause irritation in the eyes, nose and ear.
On the basis of types, the market has been bifurcated into industrial grade and food grade. The industrial grade segment dominates the market during the forecast period. The industrial grade segment is primarily used for corrosion resistance and lubrication in a wide range of End-users, such as the automotive, building, marine, and agricultural equipment industries whereas on the other hand the food grade is expected to expand at high CAGR 3.9% due to its increasing awareness in the food & beverages equipment industry.
Based on oil/fluid, the market has been segmented into straight oil, synthetic or semi-synthetic fluids, and emulsion/water soluble fluids. The emulsion/water soluble fluids segment is projected to constitute more than 44.1% share of market by 2027. The synthetic or semi-synthetic fluids segment is estimated to expand at high CAGR of around 3.6% during the forecast period. In terms of distribution channels, the penetrating oil market has been bifurcated into offline and online. The offline segment accounts for a major share of the market; however, the online segment is expected to grow at a significant pace during the forecast period.
The main function of penetrating oil is to loosen fasteners that have either seized or corroded with the usage of devices. Low viscosity of the fluid acts as an advantage for the oil, as the oil allows it to seep and penetrate into crevices and grooves that are present in the given material substrate. These oils are usually mixtures of lubricants and solvents. Solvents help thin the lubricant, increase mobility, and decrease its viscosity. Additionally, the oil helps lubricate various parts for a sufficient amount of time. It is an effective cleaning agent, used to remove grease, adhesives, rust, and tar, and is used to prevent corrosion.
Industrial Grade: Industrial Grade is also called direct extrusion or in-line compounding, it is mostly used in the production of semi-finished products such as profiles, plates, films, and tubes. This type of extrusion occurs when the direction of the flow of metal is the same as the movement of the ram. Direct extrusion is one of the most common processes that is used in Penetrating Oils among all the extrusion processes. In this process, a metal billet (work-piece) is pressed in the same direction as the die orifice and the pressure is applied on the billet. The main benefit of this process is its high efficiency and total time duration of extruders, as they are usually limited by the thickness of the metal billet. One of the major drawbacks of the Industrial Grade is that it requires a high amount of force to extrude billet. The force which is used in forward extraction is very high compared to the indirect extrusion due to which high frictional forces are developed by the movement of billet across the entire length of containers.
Emulsion/Water Soluble Fluids: Emulsion- or water-soluble penetration fluids have a relatively high dilution, and it includes a class of fluids referred to as high water content fluids (HWCF). Soluble oil-containing fluids produce an emulsion when combined with water. These oils are diluted and their concentration levels rise to 10%. These forms of oils are ideal for products that can be contaminated by harsh chemicals in their preparation of high-concentration solvents. The oils are used in diluted forms and their concentration ranges between 3% and 15%. The emulsifier quantity determines the size of oil droplets, usually ranging from 1 μm to 10 μm. Such fluids are commonly used in manufacturing industries and are inexpensive fluids.
On the basis of regions, the global penetrating market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is a promising region for the market with major market share of 38.3% in 2019. Growing demand for automotive machines and food & beverage equipment in the US, is expected to boost the demand for penetrating oil during the forecast period. The market in Asia Pacific is expected to expand at a high CAGR of 3.5% due to the rising demand for penetrating oil for agriculture and food & beverages applications.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as composition development etc.
According to this Growth Market Reports report, the market from Penetrating Oil is likely to register a CAGR of 3.3% during forecast period 2020-2027, with an anticipated to reach around USD 255.7 million by the end of the 2027.
Company Market Share (in % for base year 2019) for penetrating oil market is available in final report.
Rising awareness and increasing diverse applications for penetrating oil and increasing the demand for green products such as penetrating oil propelling the growth of the market.
Construction, Automotive, Food & Beverages, Marine, Agriculture, Military, and Others are the key End-user that are driving the Penetrating Oil market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to decline in-between 2019 and 2020 owing to the adverse effect of COVID-19 pandemic. Disruptive supply chain and country lockdown conditions have forced the manufacturers for temporarily suspension of production which is resulting to declining sales.
The base year considered for the global Penetrating Oil market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major manufactures include, WD-40 Company, Illinois Tool Works Inc., and Calumet Specialty Products Partners, L.P.