Global Penetrating Oil Market Expected to Reach USD 255.7 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Penetrating Oil Market by Type,  by Oils/Fluids, by Distribution Channel, by End-users, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 193.0 Million in 2019 and is expected to grow at a healthy growth rate of 3.3% by the year 2027. The global penetrating oil market is anticipated to grow owing to increase in diverse applications and growing awareness for penetrating oil and rising demand for green products such as penetrating oil are the factors which is expected to drive the growth of the global penetrating oil market.

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The global Penetrating Oil market is fragmented based on type, oil/fluids, distribution channel, end-user, and region. In terms of type, the market is bifurcated into industrial grade and food grade. On the basis of oil/fluids, the market is divided into, straight oil, synthetic or semi-synthetic fluids, and emulsion/water soluble fluids. Based on distribution channel market is segmented into offline and online. In terms of end-user market is fragmented into food & beverage, marine, automotive, military, agriculture, construction, and others. Based on region, the global penetrating oil market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of MEA.

Penetrating oil is a high-quality lubricant made from a blend of oils and a mixture of solvents. This low-viscosity oil is referred to as penetrating fluid. Penetrating oil can penetrate between two parts of thin/narrow spaces effectively; therefore, it is used to prevent rusting and detaching of mechanical components such as bolts and nuts. It is used as a general-purpose lubricant and corrosion resistance. However, it is not necessary to use penetrating oils as a cleaner or a general lubricant, as such oils are fairly volatile. As a result, most penetrating oil evaporates in a limited period and leaves no residual lubricant behind. This oil is used in industrial applications for maintaining different equipment. Other uses of the oil include gardening maintenance, reduction of frictions from musical instruments having metal string, and removing gums and adhesive stickers.

As per GMR industry analyst Rajat Verma, “The Global Penetrating Oil Market is anticipated to witness significant growth during forecast period 2020-2027 due to increase in awareness among the industries and rise in the use of penetrating oil in food industries as they are as it is tasteless, odorless, biodegradable, and clinically tested. Moreover, rising industrial and construction activities in emerging economies such as India and China in Asia Pacific is fueling the demand of penetrating oil which is expected to create lucrative opportunity during forecast period.”

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Key Takeaways from the Study:

• US based WD-40 Company, holds approximately one tenth of market share of global penetrating oil market in year 2019.
• Industrial grade penetrating oil is used for corrosion resistance and lubrication purposes in different industries such as automotive, construction, marine, and agricultural equipment; therefore, it holds a major share of the market.
• Emulsion/water soluble fluid is extensively preferred, as it efficiently forms hydrodynamic film and is known for its compatible mechanical properties; therefore, the segment accounts or a large market share.
• The demand for penetrating oil from the automotive industry is high, as it enables smooth functioning of automotive parts. The oil cleans the exhaust pipe and protects from rust. Lubrication oil cannot be easily applied to the complex and narrow passages in vehicle, and thus penetrating oil is used, as they easily penetrate and lubricate these areas.

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Report Scope:

Target Audience:

• Supply-side: Penetrating oil manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Food & beverage, marine, automotive, military, agriculture, construction, and others.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Food and Drug Administration (FDA) European Union Regulation (EU),International Standard Organization (ISO), Environmental Protection Agency (EPA)Occupational Health and Safety Act (OHSA), National Fire Protection Association (NFPA), Spill Prevention, Control and Countermeasures (SPCC), and others.

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