COVID-19 Impact on Coning Oil Market
- The COVID-19 outbreak is hampering the production in the textile industry. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the coronavirus. This has resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for coning oil.
- Key players operating in the coning oil market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of coning oil raw material.
- The COVID-19 outbreak has directly affected the production and demand for Coning oil. The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Coning Oil Market
- Rise in demand for coning oil in the textile industry is a significant factor projected to fuel the global coning oil market during the forecast period
- The global coning oil market is dominated by countries in Asia Pacific such as India, China, and Vietnam due to the increase in textile production in these countries
Restraints of Coning Oil Market
- Coning oil is primarily used in the textile industry. Textile production is estimated to be responsible for about 20% of global clean water pollution from dyeing and finishing products.
- Enactment of stringent environmental laws against water pollution by regulatory agencies such as the Environmental Protection Agency (EPA), the U.S., and the European Union (EU) on textile processing industries is anticipated to hamper the Coning oil market in the near future
Asia Pacific to Hold Major Share of Global Coning Oil Market
- The market in Asia Pacific countries is expected to witness rapid growth during the forecast period. Asia Pacific constituted key share of the global coning oil market, as the region is a major global manufacturer of textiles. Recently, production of textiles and the subsequent consumption of textile chemicals have primarily shifted to Asia Pacific, i.e. away from the traditional production centers such as the U.S. and Western Europe.
- China is the largest textile producing and exporting country in the world. With its rapid growth over the last two decades, the textile industry in China has become one of the main pillars of the country's economy.
- India is among the world's largest producers of textiles and apparel. There are approximately 3,544 operational textile mills, which include around 2,184 non-small-scale industries and around 1,360 small-scale industries, in the country.
Competitive Landscape of Global Coning Oil Market
Major players operating in the coning oil market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- Sar Lubricants
- Bharat Petroleum
- Witmans Industries Pvt. Ltd.
- Hangzhou Transfar Chemicals Ltd
- Vickers Oils
Global Coning Oil Market: Research Scope
Global Coning Oil Market, by Product Type
Global Coning Oil Market, by Application
Global Coning Oil Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Coning Oil Market: Introduction
- Coning oil is an emulsifiable type of oil that can be made from mineral oils and/or biodegradable oils, such as synthetic oils and vegetable oils, to which additives are added in order to make it emulsifiable. Coning oil possesses good emulsion stability, and non-staining and anti-static properties. Coning oil is widely used in the textile industry.
- Coning oil is required in the coning stage of yarn production. Coning is a process of preparing a cone of yarn that releases yarn uniformly in the next operation stages.
- Coning oil is used in power-operated looms. Coning oil is applied to yarn on looms in order to lubricate and smoothen the hairiness of yarn and eliminate static electricity during textile production.
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