DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Industrial Lubricants Market - Forecasts To 2024" report to their offering.
The global industrial lubricant market is expected to reach USD 68.41 billion by 2024.
The growth of key end-use industries such as chemical manufacturing, food processing and electronics particularly in Asia Pacific is expected to drive industry growth. Increase in industrial output in emerging economies such as China, India, Russia, Brazil, and South Africa, predominantly in core manufacturing sectors, such as metal forming, foundry, consumer appliances, and plastics, along with the mining industry is expected to foster demand.
Initiatives such as continuously evolving emission standards, improving engine technology, and norms about mitigated carbon footprints are being adopted in emerging economies such as China and India. The paradigm shift towards environmental conservation is touted to be the key growth driving factors.
Demand in North America & Europe is expected to remain high despite relative stagnancy in manufacturing growth. A revitalized manufacturing sector post recovery from the economic depression of 2009, is a major driving factor for lubricants consumption in these regions
India emerged as the fastest growing market in Asia Pacific and is expected to grow at a CAGR of 4.3% from 2016 to 2024. India offers rewarding opportunities to industry participants with the government implementing innovative schemes to bolster domestic manufacturing activities.
- ExxonMobil Corp.
- Fuchs Group
- The Lubrizol Corporation
- Royal Dutch Shell
- Phillips 66
- Lucas Oil Products, Inc.
- Amsoil, Inc.
- Bel-Ray Co., Inc.
- Total S.A.
- Kluber Lubrication
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
3 Market Snapshot
4 Market Variables, Trends & Scope
5 Market Categorization 1: Product Estimates & Trend Analysis
6 Market Categorization 2: Application Estimates & Trend Analysis
7 Market Categorization 3: Regional Estimates & Trend Analysis
8 Competitive Landscape
9 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/7gcbp8/industrial