Globally, the sales for graphite lubricants witnessed a major fall in the Covid-19 crisis. Before the pandemic, the market was experiencing a period of boom whereas the spread of the disease devastated the entire progress in 2020. As recovery prevails in 2021, the demand is witnessing gradual progress throughout the world. To gain traction and attract customers, manufacturers are focusing on increasing their sales through innovative launches and technological advancements.
What are Key Graphite Lubricant Manufacturers Doing?
Major market players including Henkel Corporation, Dow Chemical Company, Permatex Corporation, Superior Graphite Incorporation, TDK Corporation, Toshiba Limited, General Electric Corporation, Siemens AG, Mason Graphite Corporation and Triton Minerals Limited are involved in the adoption of organic market tactics like new product launches, product approvals, patents and events, product innovations, diversifications and upgradations, expanding sales operations & distribution partnerships, digital marketing etc to expand their geographical presence.
On the other side, manufacturing companies such as GrafTech International Holdings Corporation, Graphite Limited, Showa Denko Corporation, Tokai Carbon Limited and West Water Resource Corporation are giving major focus to inorganic growth strategies such as mergers & acquisitions, collaborations, joint ventures and strategic alliances to lead the market andgain competitive edge over others.
For instance, Epsilon Carbon Corporation, a leading manufacturer of graphite lubricants announced that it has entered into battery material business on 24th August, 2020 and has planned to make an investment of Rs 500 crores by 2025 to manufacture graphite lubricants. The battery material business will be housed under a new subsidiary, Epsilon Advanced Materials.
The purpose of setting up the subsidiary is to become a preferred supplier of synthetic graphite material to cell manufacturers and energy storage companies across the globe. It has planned to triple its production capacity to 15,000 tonnes in 2021 and 50,000 tonnes per annum by 2025. It has also set up a target oriented research and development laboratory to cover a complete array of carbon material testing as well as cell and pouch lithium battery cell and graphite lubricants to improve the quality of material further by continuous developments.
In 2021, Asia Pacific is leading the global market for graphite lubricants owing to rising demands from automobile industries, contruction industries, aerospace, piping, sporting goods and marine industries in India, China and Japan. Presence of leading manufacturers supplying new and improved varieties of graphite lubricants is also increasing the rate of progress in India and China. It is estimated that China will grow formidably at a fastest CAGR rate globally through 2030.
Labelled as a solid lubricant, graphite consists of loosely bonded sheets of carbon atoms which imparts a slippery texture to it. This makes it an excellent lubricant along with a good material for pencil lead. The global graphite lubricant market is seeing an upswing owing to the burgeoning automotive industry.
A flourishing manufacturing sector spread across the globe is also having a positive impact on it. Graphite lubricants find application in greasing parts of machinery so that they perform efficiently.
The global graphite lubricant market is progressing mainly on account of the uptake of the product in areas where high temperatures are required. In such areas organic or liquid lubricants are not feasible. A dry, solid lubricant such as graphite is most suited for it. Other USPs of the product which make it highly suitable are the high electrical and thermal conductivity and low coefficient of friction.
The global graphite lubricant market is being powered mainly by Asia Pacific owing to the presence of large and developing nations of India and China, which are not just leading producers of the product but also its consumers. North America is another prominent graphite lubricant market which is being driven mainly by the automotive and industrial applications.
Fact.MR has published a new report on the global graphite lubricant market which delivers credible market forecast over the period of nine years between 2021-2031. Holistic research and analysis has led to the identification of key market drivers and trends that prominently influence market growth. With the inclusion of such detailed analysis, the report offers the most viable source to understand essential industry trends.
Graphite lubricants are highly sought after in automotive industry. In addition, every manufacturing sector where machinery and mechanical tools play essential function, graphite lubricants are utilized heavily. As productivity and efficiency of machines have become an important aspect in determining the output values of any product line, demand for graphite lubricants is likely to increase at a steady pace during the assessment period.
Graphite lubricant is one of the widely used solid or dry lubricants. It is used in applications with high temperature where using liquid or organic lubricants is incompatible. A combination of intrinsic properties such as solid in nature, high thermal and electrical conductivity, and low coefficient of friction enable graphite to deliver its excellent lubricant properties.
Transformations in Transportation and Logistics Industry to Bolster the Demand
On account of growing digitization, entry of new market players, changing consumer preferences, and evolving business models, the transportation and logistics industry is undergoing an impressive transformation. As logistics industry is growing rapidly, fleet management services are evolving in parallel. And, the fleet size of the automotive and transport industries presents significant demand for graphite lubricants. Efficient use of graphite lubricants can boost operational efficiency and reduce spending on account of wear and tear.
Advances in Design to Enhance Machine Efficiency Driving Adoption
With the increasing pressure of operational efficiency, machine designs are evolving significantly. This evolution is aimed at designing a machine that requires lesser maintenance, and provides reliability as well as durability.
After completion of machine design, manufacturers are focusing on gathering data for overall equipment effectiveness (OEE) that determines the output value of the production line. An important issue that wanes the productivity of a machine or a mechanism is the destructive mechanical frictional. To resolve this, usually technical lubricants such as graphite or molybdenum disulfide is used.
To win over the competition, operational efficiency is the main factor that significantly influences growth of a particular industry. As the demand for machine efficiency increases in manufacturing sectors, the market for graphite lubricant is expected to grow steadily in future. Further, advances in nanotechnology have devised graphite nano-lubricants that are used as additives in oil and grease to enhance the tribology behavior of the engines.
Graphite Lubricant Sprays Find Application in Multiple End-user Industries
The graphite lubricant spray is applied as a coating which is easily air dried and can be bonded to different materials including metal, plastic, and rubber. With the smooth black paint-like coating, the graphite spray prevents the surface from extreme pressure and friction tear. Every application that experiences consistent friction commonly demands solid lubricants such as graphite spray. Transfer belts, conveyor belts, different types of motors, material handling equipment, machine components, slides, rollers, wheels, gears, chains, and even hinges of doors and windows utilize graphite lubricant spray to reduce friction. Thus, starting from manufacturing industry to construction sector, graphite lubricant spray is likely to be sought after in future.
Development of Dry Bearings to Hamper Market Growth
After the development of self-lubricated material, its implementation in the design of bearings has brought revolution in the bearing as well as lubrication sector. Dry bearings are used in remote operations that cannot be regularly maintained or at locations that are submerged in water. Advances in bearing designs have led to the development of bearings and bearing units with improved performance, high-temperature resistance, efficiency in dry environments and low rotational speeds. These features of dry bearings have gradually replaced functions of dry lubricants including graphite lubricant. And, their increased application in the automotive, construction, metal, and other industries is likely to hamper demand for graphite lubricants in future.
In conclusion, the report on the global graphite lubricant market includes in-depth analysis of above-stated factors that influence the market growth. Such thorough analysis has made the report the most comprehensive research report that can assist stakeholders in the graphite lubricant market in formulating effective business and product strategies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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