The global firearm lubricants market is predicted to reach US$ 523.8 Mn by 2031, according to a report by Future Market Insights (FMI). The Asia-Pacific region has been highlighted as a promising market for weapon lubricants. It is likely to continue growing rapidly, supported by rising demand from nations such as India and China.
This notion is supported by the fact that countries such as India, China, and Israel are investing heavily in their defence sectors. According to FMI, the military and defence sector accounts for more than 60% of global revenues. The market is expected to experience a shift from mineral-based lubricants to bio lubricants due to their superior features and environmentally benign nature, particularly in the military industry.
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Key Takeaways of Global Firearm Lubricants Market Study
- The global firearm lubricants market is estimated to expand at a CAGR of 2.5% by during the forecast period of 2021-2031
- The U.S. is expected to account for over 85% of firearms lubricants sold in North America in 2021
- The U.K. market will continue exhibiting a moderate Y-o-Y growth at 1.6% in 2021
- The demand from Germany and France will remain positive through the forecast period
- China will continue leading sales in East Asia
“Growing demand from military & defense industry is expected to drive the firearm lubricants market through the forecast period 2021-2031. Companies operating in the market are focusing on expansion of their footprint especially in emerging countries with strong military infrastructure,” says an FMI Analyst.
The global firearm lubricants market is expected to gain considerably from increasing demand from military & defense industry. Manufacturers in the firearm lubricants market are focusing on capitalizing on opportunities in Asia. Increasing security threats across several countries give tailwinds to growth recorded in the region.
Expansion of distributors & trade partners across developing regions is intended at creating a strong footprint. India, China, Russia, the U.S., Israel, among other countries are providing ample opportunities for firearm lubricants market.
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Who is winning?
The global firearm lubricants market has been forecast to witness an influx of regional level manufacturers. The Tier 3 manufacturers account for maximum share in the global market. Some leading players included in the report are Lucas Oil Products, Inc, ITW-ROCOL, L&R Ultrasonics, Amsoil Inc, MPT Industries, G96 Products Inc., Radco Industries, Inc., Pacific Specialty Oils, Ballistol and Tier 3 manufacturers such as Clenzoil Unlimited, Taurus Petroleum Pvt. Ltd., and many regional players’ manufacturers across the globe are anticipated to create tough competitive environment on the global level.
Firearm Lubricants Market
By Type
- Synthetic
- Mineral Oil
- Bio Based
- Blended
By Form
- Oils
- Aerosol Spray
- Grease
- Other Fluid
By Application
- Guns & Pistols
- Tanks & Armored Vehicles
By End-use
- Military & Defense
- Police & Private Security
- Individuals
By Region
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Want to Know More?
Future Market Insights has published a market research report on the Global Firearm Lubricants Market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in depth analysis of the Global Firearm Lubricants Market through different segments, namely by type, by form, application, end-use and region. The Global Firearm Lubricants Market report also provides supply and demand trends, along with an overview of the parent market.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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