Dry Lubricants Market Size

Dry Lubricants Market size is poised to reach USD 4 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of dry lubricants was USD 2 Billion. The reason behind the growth is impelled by the growing spending in the construction industry across the globe. Growth in the overall output of construction is mostly driven by investment in the energy and utility sectors as well as in infrastructure, and the rise in demand for infrastructure, commercial buildings, and housing.

For instance, construction spending is predicted to reach over USD 17 trillion globally by 2030, with the US, China, and India leading the way and contributing around 55% of the growth in this sector.

The growing focus on sustainability is believed to fuel the dry lubricants market growth. There's an added benefit of reduced friction when using a dry lubricants since it translates into fewer products that collapse which aids in conserving energy, which is a primary objective of sustainability.

Frequently Asked Questions (FAQ)

The growing spending in the construction industry across the globe and the growing focus on sustainability are the major factors driving the growth of the market.

The market size of Dry Lubricants is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Dow Corning, DuPont, Sun Coating Company, Slickote Coatings, Kal-Gard F.A., Everlube, Surcom Industries (DYNACRON), CHP, Everlube, Sandstrom, Freudenberg (OSK), Castrol-Lubecon, and others.

The Automobile segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Dry Lubricants Market Size