Recent estimates have suggested that the North American and European forestry lubricants market size will cross US$2.8 billion in annual valuation by 2027.

North America and Europe’s forestry lubricants market is expected to be at the cusp of commendable growth, driven by the increasing adoption of machines that have open cutting systems, including saws and harvesters. Owing to their prevailing use, a lot of emphases is laid on limiting the friction, machine wear and on corrosion protection with the help of lubrication. Hence, the demand for forestry lubricants is on an upsurge in North American and European regions.

According to the Food and Agriculture Organization, the U.S. and Canada account for some of the world’s largest consumption of forest products. In fact, it is estimated that the U.S. records over 15% of the world trade in forest products, while the export and imports of wood products are estimated to total $150 billion yearly. The rapidly expanding softwood timber production is another important factor driving the North America & Europe forestry lubricants market growth.

Lately, the demand for bio-lubricants is witnessing a significant rise in the regional forestry applications considering their benefits, like environmental friendliness, rapid biodegradability, low toxicity, longer equipment life and excellent lubricating properties. The influx of several strategic developments initiated by some prominent business candidates is also assisting the development of this business space.

To cite an instance, in February 2020, Petronas Lubricants International rolled out Petronas Arbor, its new fully developed range of lubricants, that are specially designed for catering to uses in agricultural and construction machinery.

Scaling demand for synthetic lubricants

The use of synthetic forestry lubricant fluids will see a surge in the region, owing to their growing preference over their petroleum-based counterparts to offer improved heat transfer properties, and thermal and oxidative stability. These lubricants have superior volatility characteristics and desirable viscosity-temperature attributes.

Lately, fully synthetic biodegradable hydraulic oils are marking humongous presence across environmentally sensitive locations, like agricultural land, and forest floors for limiting and high-temperature oxidation. They also help extend equipment life, enhance low-temperature fluidity, and limit corrosion, and wear.

Mounting demand in logging and harvesting applications

The North American and European forestry lubricants market will gain notable proceeds across the harvesting/logging sector with the growing utility of logging trucks, harvesters, excavators, de-barkers, bulldozers, and forklifts. Other than keeping the older equipment in optimal working conditions, lubricants ensure that harvesting, transportation, and wood products are efficient and cost-effective.

The increasing count of harvesting activities and the robust presence of some prominent logging companies will further drive the regional product demand. According to estimates, forests cover over 62 per cent of British Columbia, and over 24 per cent is available for harvesting.

To summarize, the abundance of forests in North America and Europe has paved way for the rapid strides in wood products manufacturing and pulp mills, subsequently driving the need for lubricants. It has been estimated that there are over 158 million hectares of forest in the European Union. The thriving focus on replacing mineral oils that have large carbon footprints with biodegradable lubricants in chains and conveyors within sawmills will also influence the industry dynamics.

Learn more: www.gminsights.com/industry-analysis/north-america-and-europe-forestry-lubricants-market.

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