Industrial Lubricant Market Outlook To 2024
The global industrial lubricant market is expected to grow to 70 billion USD by the end of the year 2024 with a CAGR of 3.1% till 3024. A wide range of application in sectors like, Chemical Industries, Mining, Construction, Electronic, Food processing, Automotive are driving the market growth of industrial lubricants. The increase in population is causing the expansion in industrial segments and this is directly impacting the lubricants market.
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Key findings from the study: -
o The global industrial lubricant market is expected to grow to 70 billion USD by the end of the year 2024 with a CAGR of 3.1% till 3024.
o During 2015, the mineral oil lubricants segment accounted for the major shares and dominated the global industrial lubricants market. Global mineral oil-based lubricants market to grow at a CAGR of 2.3% during the period 2016-2024.
o Kluber Lubrication has recently introduced Kluberfood NH1 4-002 Spray, a new water-displacement fluid that can be used as a penetrating oil.
o Top companies in industrial lubricant industry are Shell, Total S.A., Renewable Lubricants Inc, ExxonMobil Corp., Chevron Corp., Soyatech, LLC, Valvoline International, Kluber Lubrication, Fuchs Group, The Lubrizol Corporation, Clariant, Castrol, and Petronas Lubricant International, United Bio Lube and Revolution Bio-based Lubricants.
Ameri Research has segmented the Industrial Lubricant Market by material categories, product type, end-use and region:
This report provides comprehensive analysis of,
o Market growth drivers
o Top players
o Product outlook
o Technology outlook
o North America
o Asia Pacific
o Mineral Oil based
o Biobased lubricants
o Food grade lubricants
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