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Global lubricants market

Global lubricants market synopsis 2019

Oct 6 • Bangladesh Lubricants Market Database • 43 Views • No Comments on Global lubricants market synopsis 2019

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The global lubricants market was expected to be worth $162.3 billion by 2019, according to a report by a market research firm, Markets and Markets. It was valued at about $90billion in 2016.

This growth was projected on the back of the rising number of on-road vehicles and growing transportation, and logistics industry.

Industrialization and rapid infrastructure across the developing world are considered to be the key drivers of lubricant growth, adds the report.

Rapid industrialization has boosted the demand for lubricants in various end-use industries. Industrial machinery, automotive, and energy in developing economies are fuelling the demand for finished lubricants.

Valvoline Advanced Full Synthetic 5W-30
Motor Oil

Asia-Pacific was the fastest-growing lubricants market, with an annual growth rate of 3% between 2014 and 2019.

The Middle East and Africa are the regions that drove the lubricants materials market. China, India, South Africa, Brazil and Iran are the next growing end-user industries.

The growing automotive sector and industrial production have resulted in enhanced demand for lubricants.

Transportation segment accounts for nearly 57% of the total lubricants market.

Bangladesh’s lubricants market database records 100 document

Anyone active in the lubricants sector needs solid knowledge and information in the form of market insights and reports. Zulker Naeen provides this information through an industry-leading document database. The exclusive documents are an invaluable argumentation and decision-making resource for manufacturers, distributors, investors, institutions and anyone interested in developments in the growing lubricants sector.

These reports help investors to understand the viability of the lubricants market. It also assesses the prevailing value chain and provides recommendations for the private sector, improves investors access to finance for end-users.

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