Toevolution

By Ken Research 2 Feb 2023

Increasing drain intervals in the automotive and industrial sectors & slowdown in the automotive industry are expected to hinder the growth of the market.

Wind Energy sector to dominate demand: Gear oils find application in wind turbines for lubrication of the main gearbox and other gear motor components. The lubricant requirements in wind turbine gearboxes are more stringent when compared to other industrial gear oils. This is because of high temperatures, bearing wear, corrosion and oxidation, and load weights involved during the process of power generation. There is an increase in the demand for synthetic gear oils in wind turbines owing to their enhanced properties over their mineral-based counterparts & because of performance additives used during the formulation of synthetic oils. Despite facing competition from solar power generation, the wind power sector is expected to continue its growth during the forecast period. This, in turn, is expected to boost the demand for lubricants in a significant manner in the future.

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Increased demand for Steel: Lubricants are of great usage in metal works for a variety of purposes such as polishing, metal forming, lapping, metal cutting, and grinding applications. They reduce thermal deformation and flush away material that has been removed & serve a purpose in a metallurgical application involving metals such as steel, iron, and many more. Moreover they also help improve tool life and improve surface finishes. It also functions in localizing strain and inhibiting corrosion. According to the Department of Trade Industry and Corporation, South Africa is the largest steel producer in Africa & with the increasing demand for steel, the market for lubricants is reflecting growth.

Analysts at Ken Research in their latest publication, “Nigeria Lubricants Market Outlook 2027F- Driven by demand for expanding wind energy sector & rising demand for high performance lubricants” by Ken Research observed that Nigeria Lubricants Market is in a growth phase & is expected to witness a growth rate of ~% in the upcoming years owing to an increasing demand for high performance lubricants. It is to be noted that the Nigeria Lubricants market is moderately fragmented with major global and national players occupying almost half of the market with companies competing not only on the basis of product quality and promotion but also on the basis of strategic moves with the aim of capturing a larger market share.

Key segments covered

Nigeria lubricant Market