Global Spindle Oil Market: Overview
Spindles are an important component of most of the manufacturing assemblies. They are high speed rotating components and bearings in spindles; therefore, they often need lubrication to ensure smooth functioning of the machinery. Spindle oil is a low viscosity mineral oil which is used to prevent wear & tear and provide lubrication to high speed spindles. Mineral oil is capable of rusting or corroding the surface of the spindle bearings and thus anti-rust additives are added to spindle oil. Spindle oil has a low viscosity index, which enables it to flow off the spindle when the spindle is in idle state. Primarily, spindle oil provides lubrication to rotating parts of the machinery, especially the bearings. Preventing wear & tear helps enhance the performance of machinery and decreases the need for frequent maintenances. Use of spindle oil offers several other advantages such as increasing equipment life, reduction in maintenance cost, and extends service life.
Global Spindle Oil Market: Key Segments
The global spindle oil market can be segmented based on type, end-use industry, and region. In terms of type, the global market can be bifurcated into FC spindle oil and FD spindle oil. Based on end-use industry, the global spindle oil market can be segmented as: textiles, automotive, agriculture, machine tools and others. The textiles segment is estimated to dominate the market during the forecast period. Demand for spindle oil from this segment is expected to rise at a rapid pace during the forecast period. Spindles are widely used components in spinning operations in textile manufacturing. Spindle oil required in this segment needs to be light in color and non-staining to the textiles. Other applications for spindle oil include steam turbines, gas turbines, and hydroelectric turbines for lubricating the bearings, automated machine tools, lightly loaded reduction gears etc.
Global Spindle Oil Market: Regional Outlook
In terms of region, the global spindle oil market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Demand for this oil is high in Asia Pacific. This can be attributed to the vast manufacturing base in the region, which needs machinery and thus, consumes large quantities of spindle oil. North America and Europe are key regions in terms of demand for spindle oil. Demand for the oil in these regions is expected to rise at a sluggish pace, as these are mature regions for the manufacturing industry. Middle East & Africa constitutes a small share of the global spindle oil market, in terms of demand. The spindle oil market in Latin America is anticipated to be expand due to the rise in manufacturing operations in the region. Brazil and Mexico are manufacturing hubs in Latin America and are expected to drive the demand in the region during the forecast period.
Global Spindle Oil Market: Key Players
Key players operating in the global spindle oil market include Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Castrol Limited, Total S.A., Phillips 66 Lubricants, Eni S.p.A., Fuchs, Schaeffer Oil, Valvoline Inc., and Blue Star Lubrication Technology.
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