FMI has projected in a new study that the firearm lubricant market is expected to record a CAGR of 2.5% through 2031. Demand for firearm lubricants is will continue surging particularly due to the increased use in secret service, Special Forces, air force, and army.
“Manufacturers of firearm lubricants will gain traction in Asia, steered by increasing security threats in the region,” says the FMI analyst.
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Firearm lubricants Market – Important Highlights
- The demand for synthetic lubricants is expected to continue to increase
- The demand for oils will continue rising due to their easy access and high-performance properties
- The military & defense industry is anticipated to be the largest user of firearm lubricants
- Sales in China will account for more than 10% of overall demand over the forecast period
Firearm Lubricants Market – Drivers
- Surging political tensions between nations would drive the market
- The increasing population and rapid urbanization will create significant opportunities for firearm lubricant producers in the coming years
- Growth in privately owned and military firearms is anticipated to boost the market
- Favorable policies, combined with high per capita expenditure, have created a conducive environment for the growth of the firearm lubricants market
Firearm lubricants Market – Restraints
- The negative environmental impact of lubricants is anticipated to hamper the growth of the market.
- Factors such as high costs and the frequent jamming of guns are constraining the growth.
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COVID-19 Impact on Firearm lubricants Market
Firearm lubricants demand growth is projected to be slowed as a result of the unprecedented COVID-19 pandemic. Due to the ongoing crisis caused by the COVID-19 pandemic, there has been a slight downturn in output and supply chain operations, but utilization will improve with economic recovery following the constrained post-pandemic phase. The COVID-19 pandemic has had a serious effect on the global economy at different levels and has also had an impact on end-use industries. As several end-use industries are affected in regions such as North America, East Asia, and South Asia-Pacific, supply and demand shortages are expected to lead to a drop in Y-O-Y growth.
The firearm lubricants market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. Any of the companies operating on the market are focused on the online selling of weapon lubricants to private firearm holders.
Some of the leading companies operating in the market are Lucas Oil Products, Inc, ITW-ROCOL, L&R Ultrasonics, Amsoil Inc, MPT Industries, G96 Products Inc.
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
4.1. Strategic Promotional Strategies
5. Global Firearm Lubricants Market Demand Analysis 2016-2020 and Forecast, 2021-2031
5.1. Historical Market Volume (Tons) Analysis, 2016-2020
5.2. Current and Future Market Volume (Tons) Projections, 2021-2031
5.3. Y-o-Y Growth Trend Analysis
6. Global Firearm Lubricants Market – Pricing Analysis
6.1. Pricing Break-up
6.2. Global Average Pricing Analysis Benchmark
7. Global Firearm Lubricants Market Demand (in Value or Form in US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031
7.1. Historical Market Value (US$ Mn) Analysis, 2016-2020
7.2. Current and Future Market Value (US$ Mn) Projections, 2021-2031
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
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About the Study
The study offers readers a comprehensive assessment of the firearm lubricants market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (Synthetic, Mineral Oil, Bio-Based, Blended), application (Guns & Pistols, Tanks & Armored Vehicles), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).