The global Penetrating Oil Market is forecasted to reach USD 38.98 Billion by 2027, according to a new report by Reports and Data. Penetrating oils have low viscosity and are used to free fasteners or any other parts of a machine that are rusted. These penetrating oils are volatile in nature. This liquid has the ability to penetrate the pores of the metal and deposit a medium of Oil that protects the metal against moisture. They also act as cleaning agents.
Penetrating Oil lubricates the product for a short span of time. It reduces friction, but as the fluid contains a volatile solvent, it can easily get contaminated. After evaporation, they leave a residual film. The addition of penetrating lubricant additives enhances the longevity of the liquid. The demand for the market fluid as a cleaning agent is also driving the demand of the market product. Oil can be used to grease, remove tar, rust, and adhesives.
North America held a significant market share for penetrating Oil. The U.S. accounts for the largest market share due to the growing application in the marine and construction industries. The slower value-pool growth in road transport volume is declining the market share in the region.
The COVID-19 impact:
The widespread of COVID-19 virus has reduced the demand for the market considerably. The market is heavily dependent on the automotive and industrial sectors due to the imposition of the lockdown. The slowdown in manufacturing is negatively affecting the demand for penetrating Oil. Moreover, stringent regulations in developed regions such as North America and Europe is hindering the market growth.
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Key participants include ITW, Liquid Wrench, The Claire Manufacturing Company, KANO, AFM Safecoat, WD-40 Company, Super Lube, RSC Chemical Solutions, American Polywater, and Federal Process Corporation, among others.
Further key findings from the report suggest
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The report sheds special focus on the factors that propel the growth of the industry. For better understanding, the report segments the Penetrating Oil market into key divisions such as types, applications, end-use, technology, region, and others. These segments are extensively analyzed to offer better forecast for the global and regional market and key factors influencing their growth are also covered in the report.
For the purpose of this report, Reports and Data have segmented the global Penetrating Oil Market on the basis of Type, Application, Additives, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Additives Outlook (Revenue, USD Billion; 2017-2027)
Regional Analysis Covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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