According to the research report titled ‘Forestry Lubricants Market Size, Share and Industry Analysis Report by Product (Synthetic, Synthetic Blend Oil, Bio-Based, Mineral), Application (Engine, Transmission & Gears, Hydraulics, Greasing, Chain Oils/Saw Guide Oils) and End-Use (Pulp Mills, Sawmills, Paper & Paperboard Mills, Wood Products Manufacturing, Harvesting/Logging, Biomass Pellet Mills, OEM), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027,’ available with MarketStudyReport, global forestry lubricants market is slated to observe remarkable growth during 2021-2027.

Soaring labor costs as well as decrease in the availability of agricultural labor, rising demand for paper in packaging and hygiene products, and surging utilization of biomass pellets in energy & power vertical are factors propelling the growth of global forestry lubricants market.

Moreover, inclination towards bio-based lubricants, and rising sales of wood & wood products are also contributing towards the development of industry.

On the contrary, stringent norms regarding synthetic lubricants is likely to hamper the progress of market in the forthcoming years.

In terms of product type, the synthetic blend oil segment held a 20% market share in the year 2020 and is estimated to grow steadily during the forecast period, owing to the increasing demand for lubricants that can withstand the climate change, given that forestry equipments are operated in an open environment.

Based on application scope, the transmission & gears vertical of worldwide forestry lubricants industry is predicted to exhibit robust expansion during the review period, due to extensive adoption of transmission lubricant, facilitated by its ability to offer rust resistance, anti-wear protection, and compatibility with other joint materials, enabling it to persevere in the face of extreme working environment.

From an end-use perspective, the sawmills subdivision is speculated to grow remarkably during the study period, given rising product usage to promote extra wear.

Speaking from regional standpoint, Latin America market accounted for 7.5% revenue share in 2020 and is poised to amass notable valuation by the end of 2027.

Whereas Middle East & Africa market is predicted to register robust growth during the assessment timeframe, owing to the mounting adoption of multi-utility furniture, combined with huge demand for essential products like toilet paper, tissue paper, and packaging paper across the region.

The companies enhancing the competitive scope of global forestry lubricants market are Klondike Lubricants Corporation, Fuchs Petrolub SE, Petronas Lubricants International (PLI), Shell plc, Chevron Corporation, Kluber Lubrication, Exxon Mobil Corporation, Phillips 66 Company, Petro Canada Lubricants Inc., Repsol S.A., Frontier Performance Lubricants, Rymax Lubricants, Elba Lubrication Inc., China Petroleum & Chemical Corporation, and Pennine Lubricants Ltd. among others.