Penetrating Oil Market Outlook
The global penetrating oil market size 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, 2020-2027.
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.
Penetrating Oil Market Dynamics
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.
Penetrating Oil Market Segment Insights
Market Trend
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.
Type Segment Analysis
Definition
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.
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.
Oil/Fluid Segment Analysis
Definition
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.
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.
Regional Outlook
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.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Penetrating Oil Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Penetrating Oil Market Performance
Segments
Type
- Industrial Grade
- Food Grade
Oils/Fluids
- Straight Oils
- Synthetic or Semi-Synthetic Fluids
- Emulsion/Water Soluble Fluids
Distribution Channel
End-user
- Automotive
- Construction
- Food & Beverages
- Marine
- Agriculture
- Military
- Others
Region
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa (MEA)
Key Market Players
- Aervoe Industries
- American Formulating & Manufacturing
- American Polywater Corporation
- Anti-Seize Technology
- Calumet Specialty Products Partners, L.P.
- CRC INDUSTRIES
- Electrolube
- FedPro
- Illinois Tool Works Inc.
- Kano Laboratories
- Lubrication Engineers
- Miller-Stephenson, Inc.
- Niteo Products
- OKS Spezialschmierstoffe GmbH
- Radiator Specialty Company
- Schaeffer Manufacturing Co.
- Setral Chemie GmbH
- SPRAYON.COM
- Super Lube
- The B'laster Corporation
- The Claire Manufacturing Company
- ThreeBond Holdings Co., Ltd.
- WD-40 Company
- Whitmore Manufacturing, LLC.
Competitive Landscape
Key players in the global penetrating oil market includes WD-40 Company, Illinois Tool Works Inc., and Calumet Specialty Products Partners, L.P. These companies are considered as key manufacturers of Penetrating Oil, based on their revenue, research & development activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Penetrating Oil extraction is added in the company’s capacity.
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In 2020, the Calumet Specialty Products Partners, L.P. has completed the acquisition of Paralogics, LLC, a producer of candle and industrial wax blends. company expands its presence in the specialty wax blending and packaging market
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In November 2019, Electrolube Limited launched a new range of gap- filling products with excellent thermal performance. GF400 is a two-part, liquid silicone-based gap filler, which can either be cured at room temperature or accelerated with heat.
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On April 10, 2018, Lubrication Engineers introduced advanced formula turbine oil named Endure Turbine Oil (6481-6482). The advanced formula turbine oil was developed with a blend of highly refined base oils and proprietary additive technology for providing superior oxidate and thermal stability.