Knitting Oil Market

Knitting Oil Market Size (2023-2028):

The Global Knitting Oil Market was worth US$ 28 million in 2022 and is anticipated to reach a valuation of US$ 38 million by 2028 and grow with a CAGR of 5.04% between 2023-2028.

Knitting oils are lubricants used to lubricate knitting machines and equipment. They let the machine run smoothly and keep it from overheating, which can result in productivity loss. The textile industry is expanding at a rapid rate, owing to rising demand in end-use areas such as automotive, building and infrastructure, home furnishings, and so on, particularly in emerging nations such as India and China. This will lead to increased apparel consumption across all age groups, resulting in global development in the knitwear business. Furthermore, garment businesses have prioritized product introductions in high-growth markets such as China, India, and Indonesia. As a result of increased expenditures by garment manufacturers in these countries, demand for knitting oil will rise throughout the forecast period.

Market Drivers:

Fleece, blister, 2-sided textiles, interlock, rib, mattress ticking, needle set-out, plated plush, transfer method, jacquard, and waffle are some of the stitch structures employed on circular knitting machines. In addition, both coloured and undyed yarns may be fed into circular knitting machines. Knitted clothing demand has risen dramatically in a variety of applications, including athletics, shapewear, casuals, protective wear, and winter wear, owing to people's improved lifestyles and increased disposable money, particularly in emerging nations. Circular knitting machines, on the other hand, are chosen for bulk production due to their capacity to produce enormous-diameter materials. During the forecast period, this is expected to drive growth for knitting oils in circular knitting machines.

Market Restraints:

The high cost of Knitting Oil is the major restrain that is expected to hamper the Global Knitting Oil Market over the forecast period. Also, this restrains growth as many of the middle and small-scale industries cannot afford the high price of Knitting Oil prices. Therefore, the price has become the major restrain to the growth of the Global Knitting Oil Market.

KNITTING OIL MARKET REPORT COVERAGE:

Market Segmentation:

Knitting Oil Market - By Type:

• Synthetic.
• Semi-Synthetic.
• Biodegradable.

A synthetic type of Knitting Oil is expected to have a significant share and growth in the Global Knitting Oil Market. Synthetic Oils are the composition of different types of chemicals and they do not have any type of natural components present in them. To get the required composition of the Oils they had to undergo many chemical reactions to get the consumer's desired properties such as stability, viscosity, fluidity etc... Synthesis is the process required to get the polyethylene glycols (PEG), in the process of Ethelene Oxide molecules are subjected to react with the Hydrogen molecules to under the conditions of Temperature and Pressure.

Semi-synthetic is expected to see steady growth in the Global Knitting Oil Market. Semi-synthetic oils are the final product of a mixture of Synthetic and natural oils. The products in producing these oils are petroleum spirits or white mineral oils as these are the base fluids that contain high viscosity index fluids as the aromatic compounds and polyalphaolefins are added in different proportions depending on their requirement. 

Knitting Oil Market - By Application:

• Flat Knitting Machine.
• Circular Knitting Machine.

Flat Knitting Machine is expected to have a significant share and Growth in the Global Knitting Oil Market. During the procedure, the knitting oil used for flat knitting machines is applied to the needles of this type of machine. These lubricants have a high viscosity index, which means they minimize friction between working components and nearby surfaces. This fluid also protects against corrosion when kept for long periods of time and prevents damage from overheating when used continually at higher speeds for longer periods of time.

Circular Knitting Machine is expected to see steady growth in the Global Knitting Oil Market. Knitting oil is becoming more popular in circular knitting machines. Knitting oils are used to lubricate needle plates, yarn guides, and other components, allowing needles to move smoothly without sticking together or causing damage during high-speed operations. These oils also lower noise levels when beamed with a low air pressure setting, making them perfect for working environments. Circular knitting machines require more maintenance than flat knitting machines, therefore this feature makes basic activities like replacing gears and needles easier for the user.

Market Regional Analysis:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America is expected to have the dominant share in the Global Knitting Oil Market. The usage of high-tech machines has risen significantly, particularly in countries with large knitwear customer bases, such as the United States and Canada. Over the next several years, these elements are projected to fuel expansion. Synthesis oil topped the worldwide market in terms of the type last year, but Semi-synthetic oils will gain momentum at a faster pace in the future due to their qualities that make them a better choice than other types accessible in global marketplaces.

Asia-Pacific is expected to have the next dominant share in the Global Knitting Oil Market. The need for knitting oils in the Asia Pacific is being driven by the presence of very well textile manufacturing industry in China, India, Bangladesh, and Pakistan. Increased adoption of technical developments in the fabric production process, particularly in China and India, has increased the need for innovative materials for efficient operations. This is expected to improve the market for knitting oils in the Asia Pacific. As a result, the market for knitting oils in the Asia Pacific is expected to grow rapidly over the forecast period.

Impact of COVID-19 on the Knitting Oil Market:

The worldwide economic cycle, as well as the Global Knitting Oil Market, have been severely impacted by the COVID-19 epidemic. Most nations are experiencing labor, transportation, and raw material shortages as a result of the countrywide lockdown. Several sectors have come to a standstill as a result of the strict restrictions governing commerce and supply chains. The knitting oil business, like many other industries, has been heavily damaged by the crisis. Supply chain disruptions, tightening of tax equity exchanges, investors' financial worries, shelter-in-place strategies, and sanctioning hurdles are all placing the business under a lot of stress. The spread could not be contained without smart government intervention, resulting in a fall in economic investments and a rise in employment losses.

Market Key Players:

1. Vickers Oils
2. BECHEM
3. Nye Lubricants
4. Promar
5. Dutch Lube Company
6. Matsumoto Yushi Seiyaku
7. Kocak Petroleum
8. Zschimmer and Schwarz
9. Hindustan Petroleum
10. Behran Oil

Market Recent Developments:

• Vickers Oils has announced that they had reached an OEM agreement with Busi Giovanni, who is now recommending our VICKERLUBE SOCK 46 needle oil.
• The special anti-wear additive package within the knitting oil has been launched by BECHEM, range Staroil KNT 22 and 32 helps in reducing severe friction and wear during the emergency run conditions of the knitting machine such as start-up and shut-down phase thereby increasing the productive life of needle and sinkers.