Growing Demand for the Lubricants from Different Market Industry Sectors
The global lubricants market size is projected to reach USD 187.9 billion by 2027 from USD 164.8 billion in 2022, growing at a CAGR of 2.7%, in terms of value during the forecast period. The growth is largely driven by factors such as high demand from automotive, marine, aviation, construction and mining industries. The rising demand for commercial and passenger vehicles in developing regions is also...
Industrial Lubricants Market: Bio-based Lubricants Hold Potential Growth Though 2024
The global industrial lubricants market size is projected to reach USD 73.3 billion by 2024 from USD 62.8 billion in 2019, at a CAGR of 3.1%, during the forecast period. The growing demand for industrial lubricants in countries such as China, India, Japan, and South Korea from the construction, metal & mining, power generation, cement production, and automotive industries is expected to fuel the...
COVID-19 Impact on Lubricants Market Leaders
The global lubricants market size is projected to decrease in 2020 from 2019,at a negative growth of 0.95%, in terms of value. COVID-19 has negative impacts on industrial production and vehicles on road, which is expected to decrease the demand for lubricants in 2020. The demand in countries such as China, India, Japan,and the US is expected to decline from both the transport and the industrial sectors....
Expansions and New Product Launches are the Key Strategies Adopted by Leading Players in Global Marine Lubricants Market
The marine lubricants market size is estimated to be USD 6.2 billion in 2021 and is expected to reach USD 6.7 billion by 2026, at a CAGR of 1.5% during the forecast period. Marine lubricants reduce friction between various operating mechanical parts in a ship or vessel. The lubrication process helps in dissipating excess heat and combating wear and tear. These marine lubricants enhance the output...
A Step-by-Step Guide to Explore the Growth Opportunities in Lubricants Market
Lubricants, as we know, are materials that help in reducing the friction between moving parts or surfaces to enhance the efficiency of machines. They are used in different applications ranging from automobiles to various other industries. The global lubricants market was estimated to be USD 144.45 billion in 2015, and is projected to reach a value of USD 166.59 billion by 2021, registering a CAGR...
Construction Lubricants Market Industry Leaders & New Revenue Pockets
Expansions and new product launches were the key strategies adopted by leading players to strengthen their position in the construction lubricants market.
The construction lubricants market is projected to grow from USD 12.63 billion in 2017 to USD 15.64 billion by 2022, at a CAGR of 4.37% between 2017 and 2022. Contracts & agreements, new product launches, and expansions are the strategies adopted...
Mining Lubricants Market worth 2.56 Billion USD by 2022
The mining lubricants market was valued at USD 1.95 Billion in 2016, and is projected to reach USD 2.56 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022. Growth of the mining industry, increase in the demand for coal in electricity generating applications, and the increasing demand for base metals such as copper, nickel, lead, zinc, and others are fueling the demand for mining lubricants. Royal...