Lubricants Market valuation to reach US$ 163.37 Bn by 2026
Pythonholic25 Oct, 2021Computer & Internet
The global lubricants market collected revenue of US$125.66 bn in 2017 and is expected to attain a value of US$163.37 bn by 2026-end. The market is swelling is expected to expand at a CAGR of 2.9% over the forecast period from 2018 to 2026. Based on the product, the lubricants market is segmented into automotive oils, metalworking fluids, industrial oils, hydraulic oils, marine oils, process oils, and grease & others. Among these, automotive oils segment accounted for the leading share in the global lubricants market in 2017. Substantially growing demand for engine oils for preventing metal-to-metal contact coupled with reduced friction of an engine and by providing wear protection.
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