Global Dry Wire Drawing Lubricants Market is Projected to Reach US$ 180.7 Mn by 2025
LOS ANGELES, December 23, 2019 (Newswire.com) - A report was announced by QY Research titled, “Global Dry Wire Drawing Lubricants Industry Research Report, Growth Trends and Competitive Analysis 2019 - 2025,” which has offered detailed market analysis, segments, and growth drivers. Sodium Soap Based Lubricants have electrical and mechanical applications and are mainly used for galvanized and coppered wires. The lubricants are used to provide superior lubricity to ensure excellent surface finish for wire drawing. According to this report, the Dry Wire Drawing Lubricants industry was valued worth US$ 152.6 Mn in 2018 and is projected to reach US$ 180.7 Mn by 2025. The worldwide Dry Wire Drawing Lubricants industry is anticipated to rise at a sluggish CAGR of 2.4% from 2019 to 2025.
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Enhanced Strength & Protection Against Corrosion to Boost the Growth of the Dry Wire Drawing Lubricants Industry
Rapid electrification has led to increasing concern to reduce the web of wires and grids resulting in usage of wire drawing. Wires can be difficult to use in bulk and are prone to rust, hence they are used as a single die or a series of dies, which is known as Wire Drawing to reduce bulk wires and simplify its handling. As a preventive measure against corrosion, protection, and easy handling the wire die is immersed in lubrication for enhancing strength. This has resulted in demand for Dry Wire Drawing Lubricants in welding, cable wires, trolley wires, and electrical cables, which is likely to boost the growth of the market.
Growing Usage Calcium Soap Based Lubricants Likely to Foster the Product Segment Growth
The product segment is divided into Calcium Sodium based Lubricants, Sodium Soap based Lubricants, and Others. Calcium soap-based lubricant is widely used lubricant in various applications such as wires for electroplating, cold forming, galvanized wires, construction wires, which is anticipated to contribute to the growth of the product segment.
The application segment is bifurcated into Stainless Steel Wire, Carbon Steel Wire, Galvanized Wire, Tire Bead & Cord, and Others.
Increasing Demand for Power Generation in the Asia-Pacific to Boost the Growth of the Market
The Asia-Pacific region has a huge demand for power generation along with the growing electrical equipment industry and has an increasing requirement to improve the communication infrastructure. This is anticipated to propel the usage of the Dry Wire Drawing Lubricants, fostering the growth of the market. North America has an increasing rate of data consumption resulting in increased usage of electronics and power, leading to increasing wires in cables and grids.
Diversifying Products with Enhanced Compatibility: Prime Focus of the Key Players
Some of the top players operating in the Dry Wire Drawing Lubricants industry are Condat, Traxit International, Adeka, Kyoeisha, Chemetall, Pan Chemicals, Aztech Lubricants, Holifa, Jiangyin Ouyate, and Blachford.
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Source: QY Research, Inc.
