A recent research report from MarketsandMarkets estimates that the market for fire-resistant lubricant will grow in the next five years at a compound annual growth rate (CARG) of 3.74 per cent, rising from $2.20 billion to $2.73 billion in 2030.
Dubbed the Fire-Resistant Lubricants Global Forecast 2030, the detailed report covers lubricants by classification (HFDR, HFDU, HFC, HFB, HFA etc), industry (aerospace, mining, construction, marine, power generation and metalworking) and region.
The report also lists important industry players in the fire-resistant lubricant market including Mobil, China Petroleum and Chemical Corporation, Quaker, BP, Fuchs, Total, Shell and the Chevron Corporation, operating the Texaco lubricants brand, among others.
Fire-resistant oils, fluids and grease products are continuously in high demand due to their core function in lowering risk of fire, improving operational safety and supporting equipment dependability in the most high-risk industrial activities. Many industries increasingly count on these cutting-edge lubricants to keep compliant with rigid safety regulations and perform continuous, effective operations working at extreme conditions.
Fire-resistant lubricant’s ability to supply optimum thermal stability, extended equipment lifespan and oxidation resistance makes them a critical component in the latest strategies for industrial maintenance.
The increased demand for fire-resistant lubricant is also driven by the global transition towards industrial sustainability and modernisation.
Many enterprises are now investing in advanced infrastructure and equipment that requires environmentally safer and high-performing lubricants. Regulations regarding environmental protection and worker safety are also propelling the trend toward more fire-resistant solutions in emerging and developed economies. Consequently, data analysts forecast the fire-resistant lubricant market will likely experience robust and long-term growth over the next five years.
