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Lubricants market size likely to exceed USD 74 billion by 2022

In terms of revenue, the lubricants market size was valued at USD 37 billion in 2014, which is expected to surpass USD 74 billion by 2022, at a CAGR of 8.5%. Increasing automobile sales is expected to drive lubricants market size over the forecast period.

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Lubricants market size likely to exceed USD 74 billion by 2022

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  1. Lubricants Market Size(2012-2022)

  2. Methodology

  3. Global Market Scenario of Lubricants Oil Industry • Lubricants market size is forecast to generate USD 74.6 billion revenue by 2022; as per a new research report by Global Market Insights, Inc. • Transportation industry growth, particularly automobile production, is likely to drive lubricants market size. Increase in drilling & exploration activities owing to growth in oilfield chemicals should also spur growth. • Industrial lubricants market size was dominant and occupied a share of over 38% of the total volume in 2014. Increase in industrial output coupled with capacity expansions in mining, machinery and metal forming should favor lubricants demand. • Consumer automotive lubricants market share is most likely to see significant gains, at 3.2% CAGR and register demand over 13 million tons by 2022. Increase in passenger car sales in APAC and Latin America coupled with stable U.S. automotive index is likely to drive demand.

  4. Continue..... • Crude oil price slump over the past two years have resulted in bringing down lubricants market price trend. • Increasing application scope in niches sectors such as medical devices and 3D printing is likely to boost demand. • Stringent regulations by EPA, REACH and ECHA over toxicity, bioaccumulation and recyclability are likely to threaten industry growth. • Technology innovation over developing biobased lubricants market in order to counter environmental concerns may benefit industry participants.

  5. U.S. lubricants market size by product, 2012 - 2022 (Million Tons)

  6. 360° Analysis Application Analysis:- Metal working fluids market size is expected to grow at a CAGR of 8.6% from 2015 to 2022. Process oils are widely used in chemical and technical industries to improve manufacturing processes. Increasing demand for chemicals primarily in Asia Pacific is expected to drive their production. Regional Analysis:- Growing industrial output in metal forming, machining, foundry, mining and plastics industries in India and China has resulted in capability expansions by major manufacturers. Slow industrial output in North America and Europe is expected to drive the demand for low cost products in the region. Competitive Market Share:- Major oil & gas companies such as Shell, British Petroleum, Total, Sinopec, and Idemitsu are integrated lubricant manufacturers which ensure steady raw material supply to produce mineral oils and additives. Through integration, these companies benefit in terms of market expansion and widening their scope of operations.

  7. Latest Research Report On Aerial Imaging Market@ https://www.gminsights.com/industry-analysis/lubricants-market Download Latest Report PDF @ https://www.gminsights.com/request-sample/detail/356

  8. Stay In Touch You can visit us at: www.gminsights.com

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