A recent study has projected significant market growth for speciality lubricant feedstock for drones.
The current value of the market is $1.5 billion, and analysts anticipate it will rise by a compound annual growth rate (CAGR) of 9.1 per cent to reach $3.6 billion by the year 2036.
The new research also revealed that bearing lubrication will likely be the dominant application segment with a share of 32.7 per cent, while lubricant stocks using a synthetic ester base will lead the market with a 34.9 per cent share.
The growth spike forecasted is not defined by lubrication of conventional machinery, but by the extreme demands of drones, which are unmanned aerial systems that currently operate at the forefront of material science. The drone lubricant market’s upswing reflects a shift in the role of drones. Once niche gadgets, they are now essential tools across defence, commercial and industrial sectors where equipment failure is unacceptable.
The study cited key industry players that operate in the drone lubricant market including Chevron Philips Chemical (owned by Chevron, operator of Texaco lubricants), Royal Dutch Shell (a branch of Shell Lubricants), the lubricant division of PPG Industries, ExxonMobil (Mobil Lubricants) and Fuchs. While many of these companies offer well-known lubricants like grease, gear oil, hydraulic fluid, compressor oil and rust preventative, they are now also investing heavily in the development of advanced solutions for emerging cutting-edge technology like lubricant for drones and coolants for AI (artificial intelligence)-powered data centres.
