Global perspective and trends in the lubricants industry.
The global lubricants market is projected to grow to 43.87 million tonnes by 2022, at an estimated CAGR of 2.4 percent. High demand from automotive, industrial machinery and construction are expected to drive industry growth over the forecast period. Increasing demand for lightweight passenger cars and heavy-duty commercial vehicles has fostered global automotive production, which in turn is conducive to the development of lubricants for application in this field. Rapid industrialisation in China, India, Brazil, and Russia has encouraged applications in industrial machinery maintenance.
Global perspective and trends in the lubricants industry.
The global lubricants market is projected to grow to 43.87 million tonnes by 2022, at an estimated CAGR of 2.4 percent. High demand from automotive, industrial machinery and construction are expected to drive industry growth over the forecast period. Increasing demand for lightweight passenger cars and heavy-duty commercial vehicles has fostered global automotive production, which in turn is conducive to the development of lubricants for application in this field. Rapid industrialisation in China, India, Brazil, and Russia has encouraged applications in industrial machinery maintenance.
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