Slideway Oil Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3564
Slideway Oil Market size is rapidly growing during the forecast period due to rising demand from industrial, automotive and construction industry owing to its lubrication, corrosion and anti-wear properties. Slideway oil offers low friction, no stick-slip at low feed speed and high pressure with good damping properties. Industrial machinery maintenance reduces operational cost compelling manufacturers to undertake preventive maintenance as compared to breakdown repairs. Growing industrial activity in emerging countries is proliferating the market growth. Slideway oil is specially formulated to allow machine tool carriage chatter and ensures a smooth finish on the machined part.
The product exhibit extreme pressure handling and anti-slip properties. It shows resistance to rusting, oxidation and foaming and is usually preferred for cold heading applications. They boost machinery shelf life and its efficiency, thus reducing time.
The increasing demand from machine, automobile, hydraulic systems will further boost the slideway oil market demand. They are used as lubrication for machine tool slideways. Slideway oil or lubricant forms an effective lubricating film instantaneously. Growing shelf life of machinery and efficiency along with reduction in down time are significant benefits of using the slideway oils. Slideway oils should display dynamic friction coefficient for hydrodynamic slideways and linear guides, for better compatibility with neat cutting oils while simultaneously achieving optimum accuracy. The most significant characteristic of slideway oils are low friction, no stick-slip at low feed speeds and high pressures, improved damping properties, low wear along with good protection against seizures and scuffing.
Technological advancement has further led to development of grades such as ISOVG 68, ISOVG 100, ISOVG 32 and ISO VG 220. Various product grades have different viscosities which makes them suitable in different applications. Growing use of horizontal slideway, has led ISO VG 68 to be adopted globally. Moreover, heavy machines predominately utilize slideway oils for circulating applications. Owing to its high lubrication properties, this product is extensively used for medium duty hydraulic fluid and for manufacturing gear oil.
Growing government regulation along with fluctuating raw material prices is anticipated to become a hurdle for the slideway oil market over the next few years. Moreover, dealing with contamination from metalworking fluids and water-based coolants is a major challenge for manufacturers to tackle. But, with improving technology and regulation compliant products the market for slideway oil will have strong growth in the future.
By product type, ISO VG 68 is anticipated to hold the largest share in the slideway oil market due to growing industrial activity. They are formulated to protect high-speed, high-pressure hydraulic motors and pumps and to form a protective layer around hydraulic system components to protect them from rust and corrosion. ISO VG 68 shows kinematic viscosity of 68 mm2/s, which is also denoted as centistokes. This makes it medium-range viscosity specialty base oil for group one substitute in industrial lubricants and metal working fluids.
Asia Pacific is estimated to grow at a significant CAGR in the slideway oil market due advancement in road and rail network. This is in accordance with steady economic growth and increase public spending on various infrastructural projects which can further boost industrial activity for the projected time frame. India is expected to observe high product demand due to growing industrialization coupled with government initiatives to make automobile industry globally competitive. Rising demand for various industry products will have a positive impact on consumer products and vehicle production which will propel the overall slideway oil market for the projected period. 100 percent foreign direct investment in automobile industry and growing industrial activity in the country will have a positive impact on the market.
Growing need for machines in various industries such as automobile, chemical, pharmaceutical, heavy machinery, etc. will significantly boost the demand for slideway oil. Key market players include BP, ExxonMobil, Valvoline, Chevron, Fuch, Shell, Castrol, Sinopec. Various companies are now actively adopting joint venture, business sell offs and technological development to strengthen their lead in the slideway oil market.
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