Lubricants Market to garner significant revenues through 2026
Category: #business  By Rahul Sankrityayan  Date: 2020-02-14
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Lubricants Market to garner significant revenues through 2026

Global market insights has recently published a study titled ‘global Lubricants Market research report’. In this report, analysts have provided a detailed evaluation of the global synthetic lubricants market. The report is inclusive of a completely comprehensive study of the synthetic lubricants market alongside all the important factors that are likely to have an impact on the commercialization matrix of the market.

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Talking about revenue collection, market touched USD 37 billion in the year 2014 and is likely to go beyond USD 74 billion till 2022, with an annual growth rate of 8.5%. The main purpose of lubricants is to reduce friction, thereby avoiding wear and tear in automotive parts like piston, connecting rods and shafts. Exponential growth in industrialization will definitely bring boom to lubricants market trend.

India along with Africa is the budding markets and India is likely to enjoy a huge growth. In 2015, Petronas Lubricants International (PLI) had come up with $50 million blending plant in Maharashtra, India. According to Giuseppe Pedretti, Asia head of PLI, India is a prominent market in Asia region and they are planning to expedite their business in India. This industry is constructed on 25 acre and a production of 110 million liters is expected in a year. The factory is likely to start their business till the end of 2017.

Countries like India and China are noticing a significant expansion in sectors like metal forming, mining, machining and plastic industries and the demand of these sectors are likely to increase in near future. Indian market of lubricants is predicted to rise at a faster rate with an anticipated CAGR of beyond 11% between the years 2015 to 2022.

The regional segmentation covers:

 

Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)

 

North America Region (U.S., Canada, Mexico)

 

South America Region (Argentina, Brazil, Columbia, Rest of South America)

 

Asia-Pacific Region (China, South Korea, Japan, Southeast Asia, India, Rest of Asia-Pacific)

 

The Middle East & Africa Region (UAE, Saudi Arabia, Nigeria, South Africa, Egypt, Rest of MEA)

Click To Download And Get The Sample PDF File of the report: http://decresearch.com/request-sample/detail/356

Report Highlights

 

– A detailed pricing analysis on the source of the product, application, and regional segments

 

– An in-depth evaluation of the vendor matrix as well as leading companies that would help understand the competition scenario in the global lubricants market

 

– Insights about the regulatory as well as investment scenarios of the global lubricants market

 

– An analysis of the factors fuelling the market growth as well as their influence on the projection and dynamics of the global lubricants market

 

– A detailed roadmap presenting the growth opportunities in the global lubricants market alongside the identification of key factors

 

– An exhaustive evaluation of the numerous trends prevailing in the global lubricants market that would help identify market developments

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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