The global lubricants consumption is projected to expand at a CAGR of 2.8 per cent from 2017 to 2025.
The global lubricants market size is expected to reach $166.25bn by 2025, according to a new report by Grand View Research, Inc., expanding at a 3.8 per cent CAGR during the forecast period. Increasing demand for a diverse, innovative grade of lubricants for industrial as well as automotive applications is expected to drive growth.
With the expansion of the passenger vehicles segment, there has been a rise in demand for high-quality automotive lubricants with better fuel efficiency and lower emissions. Government schemes in emerging economies, such as the “Make in India” programme initiated by the Indian government, have attracted high foreign investments across the automotive industry. This has further boosted demand for lubricants.
Denne historien er fra March 2018-utgaven av Oman Economic Review.
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Denne historien er fra March 2018-utgaven av Oman Economic Review.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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